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 also issued a draft update to the IFRS Taxonomy, now open for public comment.
Published on 19 August 2015
ASIC has released improved digital reporting technology that allows entities lodging their financial reports digitally to no longer also have to lodge human readable pdfs
Published on 8 May 2015
The IFRS Taxonomy 2015 edition, which translates International Financial Reporting Standards (IFRSs) into eXtensible Business Reporting Language (XBRL), has been released by the IFRS Foundation.
Published on 13 March 2015