Document ID: chunk:federal_register_of_legislation:F2023L00014:body:0:p9
Version: federal_register_of_legislation:F2023L00014
Segment Type: other
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Character Range: 22251–25211

scope of AASB 17.
          AusAG8.1 For public sector entities, some of the contingent rights and obligations addressed in paragraph AG8 may be insurance contracts within the scope of AASB 4.

Amendments to AASB 136 Impairment of Assets (August 2015)

Paragraph Aus2.1 is added. Paragraph 2 is not amended but is included for reference.

Scope
2 This Standard shall be applied in accounting for the impairment of all assets, other than:
(a) …
(h) contracts within the scope of AASB 17 Insurance Contracts that are assets and any assets for insurance acquisition cash flows as defined in AASB 17; and
(i) …
          Aus2.1 Further to paragraph 2, public sector entities shall not apply this Standard to deferred acquisition costs, and intangible assets, arising from an insurer's contractual rights under insurance contracts within the scopes of AASB 4 Insurance Contracts and AASB 1023 General Insurance Contracts.

Amendments to AASB 137 Provisions, Contingent Liabilities and Contingent Assets (August 2015)

Paragraph Aus5.1 is added. Paragraph 5 is not amended but is included for reference.

Scope
 …
5 When another Standard deals with a specific type of provision, contingent liability or contingent asset, an entity applies that Standard instead of this Standard. For example, some types of provisions are addressed in Standards on:
(a) …
(e) insurance contracts and other contracts within the scope of AASB 17 Insurance Contracts;
(f) …
          Aus5.1 Further to paragraph 5, public sector entities shall apply this Standard to provisions, contingent liabilities and contingent assets of an insurer, other than those arising from its contractual obligations and rights under insurance contracts within the scope of AASB 4 Insurance Contracts.

Amendments to AASB 138 Intangible Assets (August 2015)

Paragraph Aus3.2 is added. Paragraph 3 is not amended but is included for reference.

Scope
 …
3 If another Standard prescribes the accounting for a specific type of intangible asset, an entity applies that Standard instead of this Standard. For example, this Standard does not apply to:
(a) …
(g) contracts within the scope of AASB 17 Insurance Contracts and any assets for insurance acquisition cash flows as defined in AASB 17.
(h) …
          Aus3.2 Further to paragraph 3, public sector entities shall not apply this Standard to deferred acquisition costs, and intangible assets, arising from an insurer's contractual rights under insurance contracts within the scope of AASB 4 Insurance Contracts. AASB 4 sets out specific disclosure requirements for those deferred acquisition costs but not for those intangible assets. Therefore, the disclosure requirements in this Standard apply to those intangible assets.

Amendments to AASB 1057 Application of Australian Accounting Standards (July 2015)

Paragraphs 5A, 6A and 11A are amended. Paragraphs 12 and 26 are deleted.

Application of Australian Accounting Standards
5A AASB 4