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 requirements of IFRS 15 Revenue from Contracts have been included in the Interim release 2 of the 2014 IFRS Taxonomy.
Published on 14 November 2014
The IFRS Foundation has released for public comment the Proposed Interim Release 2 to the IFRS Taxonomy 2014, which incorporates elements for IFRS 15 Revenue from Contracts with Customers
Published on 29 August 2014
The 2014 edition of the IFRS AU Taxonomy 2014, which assists Australian companies lodging electronic financial statements with ASIC, is now available on the SBR website.
Published on 18 July 2014