Document ID: chunk:federal_register_of_legislation:F2024L00075:reg:38:p8
Version: federal_register_of_legislation:F2024L00075
Segment Type: reg
Provision Reference: reg 38 (pt 8/76)
Character Range: 44633–47754

sensitivity of defined benefit member liabilities to changes in key assumptions used in their measurement as being required to meet the objective of paragraph 23.  The subject of the disclosures is reasonably possible changes in the key assumptions.  When there is more than one key assumption for which a change is judged to be reasonably possible, the analysis can be performed on a univariate basis or on a multivariate basis.

Disaggregated information
AG33           When a superannuation entity has multiple defined benefit plans, judgement needs to be applied to determine the most relevant levels of aggregation at which to disclose information, particularly where the information differs from plan to plan.  Depending on the circumstances, the requirements might be able to be satisfied through aggregate disclosures about multiple plans or they might need to involve plan-by-plan disclosure.
AG34           In meeting the requirement in paragraph 32 to present disaggregated information, a superannuation entity that has material member liabilities relating to different types of members, such as defined contribution members and defined benefit members, would need to consider separately presenting:
(a)                   line items in the statement of financial position for each of the different membership types in respect of member liabilities; and
(b)                   either a single statement of changes in member benefits with columns or notes showing the amounts relating to different membership types or separate statements of changes in member benefits for each different type of members.
     This would be in addition to presenting the aggregated information.
AG35           Depending on the circumstances of the superannuation entity, other disaggregated information might also be necessary to explain the risks to which different categories of members are exposed.

Financial instruments
AG36           For the purpose of applying the disclosure principles and requirements in AASB 7, an entity would consider financial assets and any financial liabilities to be measured at fair value through profit or loss and, accordingly, the fair value disclosure requirements of AASB 7 need not be applied to these assets and liabilities.
AG37           For the purpose of applying the disclosure principles and requirements in AASB 7, an entity would read references in AASB 7 to 'statement of comprehensive income' to mean 'income statement'.

Comparative information
AG38           In complying with the comparative information requirements of AASB 101 a superannuation entity discloses:
(a)                   key assumptions used in measuring defined benefit member liabilities at the end of the last annual reporting period; and
(b)                   how, if at all, those assumptions differ from the corresponding key assumptions used in measuring defined benefit member liabilities at the end of the current period.

Related parties
AG39           A trustee of a superannuation entity is a related party of the entity for the purpose of applying AASB 124.

Insurance arrangements (paragraphs 33 to