Treasury & financeAgencyExists today
Australian Accounting Standards Board
AASB · Office of the Australian Accounting Standards Board
1 January 1991 – present
Independent standard-setter that makes the accounting standards that companies, other private sector entities and the public sector must follow; its staff make up the Office of the AASB.
How it came into existence
Established under the Australian Securities Commission Act 1989, which commenced on 1 January 1991, replacing the Accounting Standards Review Board.
- Approval of accounting standards
Legislation: Australian Securities Commission Act 1989; Australian Securities and Investments Commission Act 2001
Changes during its life
- 1996Moved with corporate law from the Attorney-General's portfolio to the Treasury portfolio.
- 2000Reconstituted by the Corporate Law Economic Reform Program Act 1999, taking over public sector standard-setting from the Public Sector Accounting Standards Board of the Australian Accounting Research Foundation and coming under Financial Reporting Council oversight.
- 15 July 2001Continued under the Australian Securities and Investments Commission Act 2001.
- 1 January 2005Australian equivalents to International Financial Reporting Standards applied for reporting periods beginning on or after this date.
Main functions
- Making accounting standards under the Corporations Act
- Setting financial reporting standards for the public and not-for-profit sectors
- Adopting International Financial Reporting Standards for Australia
- Sustainability reporting standards
Where it sits
In the portfolio of Department of the Treasury.
- Type of body
- Non-corporate Commonwealth entity
- Portfolio
- Treasury
- Accountable authority
- Chair of the Australian Accounting Standards Board – Public Governance, Performance and Accountability Rule 2014 schedule 1 item 17(b)
- ABN
- 92 702 019 575
Lineage
Loading lineage…
Sources
Primary sources
- List of Commonwealth entities and companies under the PGPA Act, 1 July 2026 (Department of Finance) (as Office of the Australian Accounting Standards Board (AASB))
- Australian Government Organisations Register (Department of Finance, data.gov.au) (listed from 11 December 2014 to the latest release (30 June 2026))
Government records and websites
Other sources
Some dates or links for this organisation are not fully confirmed. Corrections are welcome.