Are there changes to the Reporting Framework for 2022/23?

The ASB approved the GRAP Reporting Framework for financial years commencing on or after 1 April 2022.

There are no mandatory changes to the 2022/23 reporting period. The only change is the inclusion of IGRAP 21 on The Effect of Past Decisions on Materiality. Application is mandatory from 2023. As materiality is a fundamental principle applied in preparing financial statements, earlier application is encouraged.

Access the reporting framework for 2022/23 and related materials on the ASB’s website.