Document ID: chunk:federal_register_of_legislation:F2025C00209:front:0:p24
Version: federal_register_of_legislation:F2025C00209
Segment Type: other
Provision Reference: 
Character Range: 70107–73598

as at the end of the reporting period.
          [IFRS for SMEs Standard paragraph 8.7]

Audit fees
      1.                     An entity shall disclose fees to each auditor or reviewer, including any network firm, separately for:
           1.                    the audit or review of the financial statements; and
           2.                    all other services performed during the reporting period.
      1.                     For paragraph 98, an entity shall describe the nature of other services.

Imputation credits
      1.                  The term 'imputation credits' is used in paragraphs 101-103 to also mean 'franking credits'. The disclosures required by paragraphs 101 and 103 shall be made separately in respect of any New Zealand imputation credits and any Australian imputation credits.
      2.                  An entity shall disclose the amount of imputation credits available for use in subsequent reporting periods.
      3.                  For the purposes of determining the amount required to be disclosed in accordance with paragraph 101, entities may have:
           1.                    imputation credits that will arise from the payment of the amount of the provision for income tax;
           2.                    imputation debits that will arise from the payment of dividends recognised as a liability at the reporting date; and
           3.                    imputation credits that will arise from the receipt of dividends recognised as receivables at the reporting date.
      1.                  Where there are different classes of investors with different entitlements to imputation credits, disclosures shall be made about the nature of those entitlements for each class where this is relevant to an understanding of them.

Consolidated and Separate Financial Statements[8]

Disclosures in consolidated financial statements
      1.                  The following disclosures shall be made in consolidated financial statements:
           1.                    the fact that the statements are consolidated financial statements;
           2.                    the basis for concluding that control exists when the parent does not own, directly or indirectly through subsidiaries, more than half of the voting power;
           3.                    any difference in the reporting date of the financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements; and
           4.                    the nature and extent of any significant restrictions (for example resulting from borrowing arrangements or regulatory requirements) on the ability of subsidiaries to transfer funds to the parent in the form of cash dividends or to repay loans.
          [IFRS for SMEs Standard paragraph 9.23]

Disclosures in separate financial statements
      1.                  When a parent, an investor in an associate or a venturer with an interest in a joint venture prepares separate financial statements, those separate financial statements shall disclose:
           1.                    that the statements are separate financial statements; and
           2.                    a description of the methods used to account for the investments in subsidiaries, joint ventures and associates,
     and shall identify the consolidated financial statements or other primary financial statements to which they relate.

     [IFRS for SMEs Standard paragraph 9.27]

Accounting Policies,