Australian Accounting Standards Board

What Australian Accounting Standards Board does

The Australian Accounting Standards Board (AASB) is an Australian Government statutory agency established in 2000 under the Australian Securities and Investments Commission Act 2001, succeeding the Accounting Standards Review Board. Headquartered in Melbourne with 11-50 staff supporting a 12-member part-time board (chaired by Dr Keith Kendall), the AASB is the sole national body authorised under section 334 of the Corporations Act 2001 to develop and issue accounting standards applicable to entities required to prepare general purpose financial statements in Australia. Its mandate covers three horizontal segments: For-Profit Entities (listed and large proprietary companies, financial institutions), Not-for-Profit Entities (charities and associations), and Public Sector entities (government departments and agencies). The board typically holds 7-8 two-day meetings per year and operates through an extensive advisory committee structure spanning Financial Instruments, Disclosure Initiative, Employee Benefits, Business Combinations, Not-for-Profit, Service Performance Reporting, and AASB S2 Implementation.

AASB's core product surface is delivered through the Standards Portal (standards.aasb.gov.au) and the main aasb.gov.au website, which provide searchable access to Accounting Standards, Sustainability Reporting Standards (AASB S1 voluntary sustainability disclosures and AASB S2 mandatory climate-related disclosures, amended December 2025), Interpretations, Conceptual Framework documents, Practice Statements (including IFRS PS 1 Management Commentary issued June 2025), and Board Agenda Decisions. The technology stack includes XBRL-based digital financial reporting capabilities enabling machine-readable corporate reporting. Supporting offerings include the AASB Dialogue Series (webinars with CPA Australia and CA ANZ), an annual Research Forum series hosted in partnership with rotating Australian universities since 2016, an SSRN Working Paper Series, and a Knowledge Hub covering COVID-19 guidance, Insurance Transition, and Public Sector focus.

AASB's business model is government appropriations rather than commercial revenue. Standards and pronouncements are freely distributed as public goods, with no licensing fees or commercial pricing. Engagement with stakeholders runs through a multi-channel approach: website publications, LinkedIn, YouTube, email newsletters (AASB Updates and Reporting Roundup), research forums, dialogue series webinars, and joint events with CPA Australia, CA ANZ, the Auditing and Assurance Standards Board (AUASB), and the International Accounting Standards Board (IASB). Ongoing strategic activity includes alignment with IFRS for worldwide convergence, a 2025 proposal to consolidate AASB, AUASB, and the Financial Reporting Council into a unified External Reporting Australia body, and an active 2026 work programme including Exposure Draft ED 341 aligning AASB 1060 with AASB 18 and a new Tier 3 NFP Standard.

Name

Australian Accounting Standards Board

Legal name

Australian Accounting Standards Board

Website

https://aasb.gov.au

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

The Australian Accounting Standards Board (AASB) is an Australian Government statutory agency headquartered in Melbourne that develops and issues accounting and sustainability reporting standards for for-profit, not-for-profit, and public sector entities required to prepare general purpose financial statements in Australia, aligned with international IFRS.

Ownership category

akta.pro rank

Product category

Accounting Standards

NAICS

Public Administration (92)

akta.pro primary industry

International Standards Development & Standardization Bodies (BPADANAA)

akta.pro secondary industries

Standards Development & Publishing (SDOs, Technical Standards) (MPAJACAB), Environmental, Climate & Sustainability Standards & Reporting Cooperation (BPADANAI), Sustainability & ESG Reporting (GRI/SASB/ISSB/CSRD) (EUAHAJAB), Government Accounting & Financial Reporting (BPAIAEAD)

Keywords

• Accounting standards development
• Financial reporting standards
• Sustainability reporting standards
• Regulatory standards body
• Statutory standards setter

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Government Funding: The AASB is an Australian Government agency under the Australian Securities and Investments Commission Act 2001. It operates as a statutory body funded by the Australian Government and does not generate commercial revenue.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

The AASB develops and issues Australian Accounting Standards, Sustainability Reporting Standards, Interpretations, Conceptual Framework documents, Practice Statements, and Board Agenda Decisions that govern financial and sustainability reporting for Australian entities. It maintains alignment with international IFRS standards while addressing Australian-specific reporting requirements, and distributes all pronouncements free of charge through its Standards Portal.

Product overview

The Australian Accounting Standards Board (AASB) operates the Standards Portal as its primary digital platform for accessing all pronouncements. The Standards Portal provides access to Australian Sustainability Reporting Standards (including AASB S1 and S2 for climate-related disclosures), Australian Accounting Standards (AASB 1 through 1061 covering transactions and events), Interpretations, Conceptual Framework documents, Practice Statements, and Board Agenda Decisions. Supporting offerings include the AASB Dialogue Series (webinars) and Research Forums (annual events) that provide education and research dissemination on accounting and reporting topics. The AASB also maintains a Knowledge Hub with specialized resources including sustainability reporting guidance and technical FAQs.

Differentiator

Problem solved

Functional benefit

Products and services

• Standards Portal Central online portal providing searchable access to all AASB pronouncements including Accounting Standards, Sustainability Reporting Standards, Interpretations, Concepts documents, Practice Statements, and Board Agenda Decisions. Used by preparers, auditors, academics, and regulators to find standards, paragraphs, and definitions.
• Australian Accounting Standards Required accounting standards affecting preparation and presentation of financial statements. Includes standards such as AASB 1 (First-time Adoption), AASB 2 (Share-based Payment), AASB 3 (Business Combinations), AASB 9 (Financial Instruments), AASB 18 (Presentation and Disclosure in Financial Statements), AASB 1060 (General Purpose Financial Statements - Simplified Disclosures for Tier 2 Entities), and many others covering various transaction types. Used by for-profit entities preparing general purpose financial statements.
• Australian Sustainability Reporting Standards Set of standards establishing sustainability-related and climate-related financial disclosure requirements for sustainability reports and general purpose financial reports. Includes AASB S1 (voluntary, based on ISSB standards) and AASB S2 (mandatory climate-related disclosures for certain entities required by the Corporations Act to comply). Used by Australian reporting entities subject to sustainability and climate disclosure obligations.
• Interpretations Interpretations that clarify requirements of Standards in application to particular transactions or events, developed where there has been diversity in application. Includes INT 1, INT 2, INT 5, INT 6, INT 7, INT 10, INT 12, INT 14, INT 16, and INT 17. Used by preparers and auditors needing guidance on the application of standards.
• Conceptual Framework Documents describing the objective and concepts for general purpose financial reporting, including the Australian concept of 'reporting entity'. Assists the AASB in developing Standards consistently and helps preparers develop accounting policies when no specific standard applies.
• Practice Statements Guidance documents for entities preparing general purpose financial statements that comply with Australian Accounting Standards. Includes IFRS PS 1 (Management Commentary) and PS 2 (Making Materiality Judgements). Used by preparers needing practical guidance on financial statement preparation.
• Board Agenda Decisions Decisions documenting the AASB's reasoning when issues raised for consideration are either not added to the agenda or removed from the agenda. Cover matters of ongoing significance to general purpose financial statements. Used by preparers and auditors tracking the AASB's positions on emerging issues.
• AASB Dialogue Series Educational webinar series featuring expert presentations and panel discussions on key accounting and reporting issues. Covers topics including digital financial reporting, sustainability, climate-related disclosures, goodwill impairment, intangible assets, not-for-profit reporting, and going concern disclosures. Delivered jointly with CPA Australia and CA ANZ.
• Research Forums Annual research forums bringing together academics, practitioners, and regulators to discuss accounting standards research and its contribution to financial reporting. Topics include service performance reporting, digital corporate reporting, and sustainability disclosures. Hosted annually with leading Australian universities including University of Melbourne, UNSW, UTS, UQ, Swinburne, RMIT, and Monash.
• Knowledge Hub Collection of research resources including AASB S2 Knowledge Hub, AASB 1061 Knowledge Hub, Insurance Transition Resource Group, Technical FAQs, Public Sector Focus Group, and COVID-19 Guidance. Used by preparers and auditors needing implementation support and answers to frequently asked questions.
• ED 341 - Updating AASB 1060 to Align with AASB 18 Exposure Draft proposing amendments to AASB 1060 General Purpose Financial Statements - Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities to align its classification and presentation requirements with AASB 18. Includes new classification and presentation principles, updated guidance on aggregation and disaggregation, and clarification of roles of primary financial statements and notes. Open for public comment.
• New Tier 3 NFP Standard New Tier 3 Not-for-Profit Standard issued by the AASB to simplify reporting requirements for smaller not-for-profit entities. Announced in the June 2026 Reporting Roundup.

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core.

• University of Melbourne (Sustainability Research Forum)coreStrategic or Co-development Partner · 18 November 2025Co-hosting of Sustainability Research Forum 2025 on November 18, 2025 at Sofitel Melbourne, focusing on sustainability reporting research and implementation challenges.
• University of MelbournecoreStrategic or Co-development Partner · 17 November 2025Partnership for annual AASB Research Forum. In 2025, the AASB Research Forum was co-hosted with University of Melbourne on November 17, 2025 at Sofitel Melbourne. The partnership brings together academics and financial reporting stakeholders to discuss research projects.
• University of Technology SydneycoreStrategic or Co-development Partner · 6 November 2024Co-hosting of 2024 AASB Research Forum on November 6, 2024 in Sydney, with the theme 'Accounting and Reporting in Changing Times'.
• University of Queensland and Swinburne University of TechnologycoreStrategic or Co-development Partner · 24 November 2023Co-hosting of 2023 annual AASB Research Forum with University of Queensland and Swinburne University of Technology, focused on 'Connectivity of non-financial and financial information'.
• Auditing and Assurance Standards Board (AUASB)coreStrategic or Co-development Partner · 10 May 2023Joint delivery of Going Concern Disclosures Dialogue Series on May 10, 2023 with CPA Australia and CA ANZ. The AUASB and AASB collaborate on joint events addressing topics relevant to both accounting and auditing standards.
• RMIT College of Business and LawcoreStrategic or Co-development Partner · 5 December 2022Co-hosting of 2022 AASB Research Forum with RMIT University on December 5, 2022, offered in Melbourne, virtually, and at University of Queensland in Brisbane.
• Monash UniversitycoreStrategic or Co-development Partner · 25 November 2019Co-hosting of 2019 AASB Research Forum with Monash University on November 25, bringing together academics and financial reporting stakeholders from public sector, for-profit and not-for-profit sectors.
• University of Technology SydneycoreStrategic or Co-development Partner · 24 November 2016Inaugural AASB Research Forum held at University of Technology Sydney on November 24, 2016, bringing together financial reporting stakeholders including policy makers, preparers, auditors, analysts, directors, academics and standard-setters.
• CPA AustraliacoreStrategic or Co-development PartnerJoint delivery of AASB Dialogue Series webinars covering topics such as intangible assets, digital financial reporting, not-for-profit reporting, and other accounting topics. CPA Australia is a major professional accounting body in Australia.
• Chartered Accountants Australia and New Zealand (CA ANZ)coreStrategic or Co-development PartnerJoint delivery of AASB Dialogue Series webinars alongside CPA Australia. CA ANZ collaborates on dialogue series covering accounting standards topics including digital financial reporting and intangible assets.
• University of New South Wales (UNSW)coreStrategic or Co-development PartnerCo-hosting of annual AASB Research Forum with UNSW, bringing together academics and financial reporting stakeholders to discuss research projects relevant to standard-setting.
• International Accounting Standards Board (IASB)coreTechnology or IntegrationAASB participates in and contributes to the development of a single set of accounting standards for worldwide use. The AASB hosts IASB updates and presentations at research forums and maintains alignment with IFRS Standards.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Others

• CPA Australia: Major Australian professional accounting body that co-hosts the AASB Dialogue Series and provides stakeholder input on standards. Adjacent ecosystem participant rather than direct competitor, but central to standards dissemination.

Regional players

• Accounting Standards Board of Japan (ASBJ): Japan's national accounting standards-setter; a peer Asia-Pacific jurisdiction pursuing IFRS-converged standards with its own modified international model. Provides a regional comparison point.
• Canadian Accounting Standards Board (AcSB): Sets Canadian accounting standards for private enterprises, not-for-profits, and pension plans within a similar bifurcated IFRS/CS framework. Comparable as a mid-sized national standards-setter.

Direct peers

• International Sustainability Standards Board (ISSB): IFRS Foundation body that develops IFRS S1 and S2 sustainability disclosure standards; AASB S1 and S2 are direct ISSB-aligned products. AASB operates as a jurisdictional adopter of ISSB standards.
• Financial Accounting Standards Board (FASB): US national accounting standards-setter (GAAP) with statutory authority over US-listed and private-issuer reporting. Closest structural analog to AASB in mandate, due process, and stakeholder engagement model.
• Auditing and Assurance Standards Board (AUASB): Australian counterpart that sets auditing and assurance standards; co-located under the same government ecosystem and frequently co-hosts events with AASB (e.g., Going Concern Disclosures Dialogue Series).
• International Accounting Standards Board (IASB): Global accounting standards-setter for IFRS; AASB's standards are explicitly aligned with IFRS and the AASB directly participates in IASB standard-setting. The most direct comparator in mission, though operating at a global rather than national level.
• Australian Accounting Standards Board (NZASB / XRB): The New Zealand External Reporting Board (XRB) is the closest Trans-Tasman peer, setting accounting and auditing standards for NZ issuers. Operates in a similar small-jurisdiction, IFRS-aligned model.
• UK Financial Reporting Council (FRC): UK's independent regulator for accounting, auditing, and corporate governance. Comparable scope (accounting + auditing + governance) and is referenced in AASB's own performance comparison commentary.

Broad incumbents

• European Financial Reporting Advisory Group (EFRAG): European body that provides standard-setting advice to the European Commission on IFRS endorsement and develops EU sustainability reporting standards. Comparable as a regional standard-setting intermediary with a wider remit than AASB.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@australianaccountingstanda7596
• LinkedInlinkedin.com/company/aasb
• Xx.com/aasbaustralia
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Australian Accounting Standards Board