Document ID: chunk:federal_register_of_legislation:F2024C00047:front:0:p2
Version: federal_register_of_legislation:F2024C00047
Segment Type: other
Provision Reference: 
Character Range: 3061–6210

credit exposure as measured at fair value through profit or loss 24G
Uncertainty arising from interest rate benchmark reform 24H
Additional disclosures related to interest rate benchmark reform 24I
Fair value 25
Nature and extent of risks arising from financial instruments 31
Qualitative disclosures 33
Quantitative disclosures 34
Credit risk
Scope and objectives 35A
The credit risk management practices 35F
Quantitative and qualitative information about amounts arising from expected credit losses 35H
Credit risk exposure 35M
Collateral and other credit enhancements obtained 38
Liquidity risk 39
Market risk
Sensitivity analysis 40
Other market risk disclosures 42
Transfers of financial assets 42A
Transferred financial assets that are not derecognised in their entirety 42D
Transferred financial assets that are derecognised in their entirety 42E
Supplementary information 42H
Initial application of AASB 9 42I
Effective date and transition 43
Withdrawal of IAS 30
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus45.2
Appendices
A  Defined terms
B  Application guidance
D  Australian simplified disclosures for Tier 2 entities

COMPILATION DETAILS
Deleted IFRS 7 text

available on the AASB website
Implementation guidance on IFRS 7
Basis for Conclusions on IFRS 7

Australian Accounting Standard AASB 7 Financial Instruments: Disclosures (as amended) is set out in paragraphs 1 – Aus45.2 and Appendices A, B and D.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  Terms defined in Appendix A are in italics the first time they appear in the Standard.  AASB 7 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting Standards.  In the absence of explicit guidance, AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies.

Comparison with IFRS 7
AASB 7 Financial Instruments: Disclosures as amended incorporates IFRS 7 Financial Instruments: Disclosures as issued and amended by the International Accounting Standards Board (IASB).  Australian‑specific paragraphs (which are not included in IFRS 7) are identified with the prefix "Aus".  Paragraphs that apply only to not-for-profit entities begin by identifying their limited applicability.

Tier 1
For-profit entities complying with AASB 7 also comply with IFRS 7.
Not-for-profit entities' compliance with IFRS 7 will depend on whether any "Aus" paragraphs that specifically apply to not-for-profit entities provide additional guidance or contain applicable requirements that are inconsistent with IFRS 7.
AASB 1053 Application of Tiers of Australian Accounting Standards explains the two tiers of reporting requirements.

Accounting Standard AASB 7

The Australian Accounting Standards Board made Accounting Standard AASB 7 Financial Instruments: Disclosures under section 334 of the Corporations Act 2001 on 7 August 2015.

This compiled version of