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.
A proposed update to the IFRS Taxonomy to incorporate the International Accounting Standards Board’s recent revisions to IFRS 4 Insurance contracts is open for comment until 15 November
Published on 16 September 2016
The IASB has released an in depth Guide to Common Practice Content, dealing with the way it incorporates the disclosures that entities commonly provide in practice.
Published on 1 September 2016
An enhanced due process for the development and maintenance of the IFRS Taxonomy is the most significant change included in the latest update of the IASB’s Due Process Handbook.
Published on 1 July 2016
ASIC is encouraging the use of digital financial reporting this financial reporting season
Published on 15 June 2016
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