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.

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  • Draft IFRS Taxonomy update for Leases

    The IASB is has released, as “Proposed Taxonomy Update 3 to the IFRS Taxonomy 2015 — IFRS 16 Leases.

    Published on 29 January 2016

  • New XBRL common practice tags

    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

  • IFRS Taxonomy Due process ED

    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

  • IFRS Taxonomy common practice tags proposed

    The IASB has also issued a draft update to the IFRS Taxonomy, now open for public comment.

    Published on 19 August 2015