IFRS to GRAP transition (2018): ASB Directive 12

The Accounting Standards Board (ASB) Directive 12 requires that all public entities, including entities under the ownership control of these entities and is effective for accounting periods commencing on or after 1 April 2018, to considered whether they need to apply Standards of GRAP as prescribed reporting framework.

Ducharme has prepared an article which sets out some of the considerations for this transition from IFRS to GRAP and key difference between IFRS and GRAP.