Financial Reporting Standards
Practice Statements - Archives
The FRS Practice Statements issued by the ASC are published for your own personal non-commercial use only, subject to the Terms & Conditions of Use of this Web Site. As the FRS Practice Statements are based on the IFRS Practice Statements and the copyright to the IFRS Practice Statements is owned by the IFRS Foundation, permission to use the FRS Practice Statements for any other purpose is required from the ASC and the IFRS Foundation with regard to the FRS Practice Statements and the IFRS Practice Statements, respectively.
FRS Practice Statements
| Title | Application Date | Issuance Date |
|---|---|---|
| Making Materiality Judgements (PDF, 662KB) |
1 Aug 2018 | 1 Aug 2018 |
| Making Materiality Judgements (PDF, 406KB) |
1 Jan 2020 | * |
| Making Materiality Judgements (PDF, 453KB) |
1 Jan 2023 | * |
Changes to FRS Practice Statements
| Title | Application Date | Issuance Date |
|---|---|---|
| Amendments to illustrative examples,
implementation guidance and FRS practice statements: Amendments to References to the Conceptual Framework in FRS Standards (PDF, 153KB) | 1 Jan 2020 | 14 Jan 2019 |
| Amendments to FRS 1 and FRS 8: Definition of Material (PDF, 511KB) | 1 Jan 2020 | 11 Mar 2019 |
| Amendments to FRS 1 and FRS Practice Statement 2: Disclosure of Accounting Policies (PDF, 222KB) | 1 Jan 2023 | 7 Jun 2021 |
| Amendments to FRS 1: Non-current Liabilities with Covenants (PDF, 145KB) | 1 Jan 2024 | 14 Dec 2022 |
