Document ID: chunk:federal_register_of_legislation:F2023C00381:reg:5
Version: federal_register_of_legislation:F2023C00381
Segment Type: reg
Provision Reference: reg 5
Character Range: 159082–161104

5                           Entities with financial reporting obligations under Federal or State/Territory legislation (ie required by legislation) to:
                              -          prepare financial statements in accordance with AAS or accounting standards (eg co-operatives, incorporated associations and higher education providers)                                                                                               In scope
                              -          prepare financial statements that give a true and fair view without reference to compliance with AAS or accounting standards (eg gaming venue operators, internet gaming licensees)                                                                    Not in scope – each regulator to interpret the reference to 'true and fair view'
                              -          prepare financial information in accordance with AAS or accounting standards but are not required to prepare financial statements as defined in paragraph 10 of AASB 101 (eg friendly societies, superannuation funds, retirement villages)            Not in scope
                              -          prepare financial information that gives a true and fair view but not to prepare financial statements as defined in paragraph 10 of AASB 101 (eg incorporated associations or housing societies)                                                       Not in scope
                              -          prepare financial information without reference to AAS or accounting standards (eg for provision to a regulator)                                                                                                                                       Not in scope
                              -          keep financial records (but not prepare financial statements) (eg small proprietary companies not required by the Corporations Act 2001 to prepare financial statements)                                                                               Not in scope