The Australian Accounting Standards Board (AASB) released for comment a consultation paper based on its review of AAS 25 “Financial Reporting by Superannuation Plans”. The AASB has tentatively decided that superannuation entities should measure their assets at fair value. Logically, the AASB thus favours parent superannuation published a consultation paper to gauge the views of constituents.  
 
The Institute disagrees with consolidation of subsidiaries by superannuation entities as it is not considered that consolidated information is necessary for users in making decisions about the allocation of scarce resources.  
 
View the Insitute submission here. 
 
This article is current up to 5 December 2007