Australian equivalents to International Financial Reporting Standards (AIFRS) 2005 AASB Standards

Institute of Chartered Accountants in Australia (International Financial Reporting Standards)

On 3 July 2002 the Financial Reporting Council (FRC) announced that Australia would adopt international accounting standards as issued by the International Accounting Standards Board (IASB) by 1 January 2005. The Institute of Chartered Accountants in Australia (The Institute) has been a strong supporter of the 3 July 2002 directive of the Financial Reporting Council.

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