Standard business reporting
Standard Business Reporting (SBR) is a government initiative aimed at reducing the reporting burden for business by removing duplication across multiple agencies and jurisdictions.
The agencies involved include Treasury, Australian Securities and Investments Commission, Australian Taxation Office, Australian Prudential Regulation Authority, Australian Bureau of Statistics and Offices of State Revenue.
SBR commenced on 1 July 2010 and simplifies financial reporting requirements by:
- Removing unnecessary and duplicated information
- Enabling automatic pre-filling of government forms through accounting/record-keeping software
- Enabling required information to be sent electronically to participating agencies with a single sign on.
For more information please visit the SBR website.
This page will also keep you up to date with international electronic reporting developments, including the IASB’s XBRL taxonomy program for IFRS financial statements.
Refer to the articles below to stay up-to-date with the SBR initiative, or use the search filters to look-up historical information.
The IASB has released its first update to the 2016 IFRS Taxonomy, which translates International Financial Reporting Standards (IFRSs) into eXtensible Business Reporting Language (XRBL)
Published on 2 May 2016
The IFRS Taxonomy 2016 edition, which translates International Financial Reporting Standards (IFRSs) into eXtensible Business Reporting Language (XRBL), has been released by the IFRS Foundation.
Published on 22 April 2016
The IASB is has released, as “Proposed Taxonomy Update 3 to the IFRS Taxonomy 2015 — IFRS 16 Leases.
Published on 29 January 2016
Common practice tags to make electronic financial reporting easier for companies in the information technology, media, chemical and utility industries have been released by the IFRS Foundation.
Published on 23 December 2015
Increasing IASB involvement in the review and approval of the IFRS Taxonomy are a major component of draft enhanced due process requirements for the way the taxonomy is developed and maintained.
Published on 9 November 2015