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Lobbying: reporting update
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New SBR website and Business Advisory Forum 
As reported in last month’s Accounting & Assurance News Today the Federal Government has launched a new website www.sbr.gov.au as part of its Standard Business Reporting (SBR) programme, aimed at improving the regulatory burden on business.  
 
Additionally, SBR has established a new Business Advisory Forum, which seeks to help SBR stay in touch with the needs of Australian businesses and their intermediaries. The forum comprises representatives from industry groups and professional associations, including the Institute, and provides a key opportunity to raise member issues or concerns on the SBR program directly with government. The first meeting was hosted at the Institute’s Sydney premises on 14 April 2008. For more information, visit the SBR website. 
 
Emissions trading 
On 18 April 2008 the Institute lodged its comments on the proposed structure of the Australian Emissions Trading Scheme (AETS) issued by the Garnaut Review. The Institute supports the introduction of the AETS as part of the review’s approach to mitigating emissions, but considers that further guidance is required in the areas of accounting and reporting, assurance and taxation. These three key areas requiring further guidance are detailed in the submission.  
 
Guidance and reporting for not-for-profits 
The Institute continues to examine the issue of financial reporting and the provision of guidance for the not-for-profit sector. This includes the lodgement of two submissions and the participation at the Sydney and Melbourne not-for-profit roundtables, hosted by the Australian Accounting Standards Board (AASB).  
 
Members will recall that the Institute conducted a survey in February to canvass views on the topic, with the final submission on ITC 14 Proposed Definition and Guidance for Not-for-Profit Entities lodged with the AASB on Monday, 31 March 2008.  
 
Our more recent submission on the proposed changes to the NSW Associations Incorporation Act suggested that a co-ordinated nationwide approach to regulating the not-for-profit sector (embracing both companies limited by guarantee as well as associations) would be preferable than each state having its own separate regime. 
 
Members can have their say 
All current exposure drafts and draft submissions open for comment are posted on the Institute website. Members are encouraged to prepare their own submission on each document and submit them to the Institute as detailed online.  
 
Relevant links:

 
 
Last updated: Thursday, 8 May 2008