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Tier 1 financial reporting checklist

Financial reporting periods ending on or after 31 December 2021

A guide to required accounting, presentation and disclosure under International Financial Reporting Standards (IFRS® Accounting Standards) and Australian-specific requirements for Tier 1 entities

This workbook may be used as a guide to assist in considering compliance with the requirements of Australian Accounting Standards and International Financial Reporting Standards (IFRS Accounting Standards) for 'Tier 1' financial statements (as defined in AASB 1053 Application of Tiers of Australian Accounting Standards).

This workbook summarises the requirements on issue as of 31 December 2021 in:

  • International Financial Reporting Standards (IFRS Accounting Standards)
  • Equivalents to Australian Accounting Standards (covering recognition, measurement, presentation and disclosure requirements)
  • Australian specific Accounting Standards and Interpretations (presentation and disclosure requirements)
  • The presentation and disclosure requirements of s.300A of the Corporations Act 2001 and Corporations Regulation 2M.3.03 in relation to a remuneration report prepared for a reporting period ending on or after 31 December 2021.

Half-year and other interim financial reports

Tier 1 reporting entities wishing to understand the requirements of AASB 134 Interim Financial Reporting should refer to:


The Excel workbook contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organisation”) is, by means of this Excel workbook, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this Excel workbook, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this Excel workbook. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

Published: June 2022

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