Document ID: chunk:federal_register_of_legislation:F2024C01235:reg:24
Version: federal_register_of_legislation:F2024C01235
Segment Type: reg
Provision Reference: reg 24
Character Range: 61513–62402

24  Value of assets of entities that prepare consolidated financial statements
 (1) This section applies in relation to an entity that prepares consolidated financial statements.
 (2) If the entity's consolidated financial statements are prepared in accordance with the international financial reporting standards, the value of the assets of the entity is the value set out in those statements.
 (3) If an entity produces financial statements or another document (each of which is the reconciliation document) for the purpose of reconciling the value of the assets of the entity set out in the entity's consolidated financial statements with the value produced using the method, set out in the international financial reporting standards, for valuing assets for consolidated financial statements, the value of the assets of the entity is the value set out in the reconciliation document.