AASB (Australian Accounting Standards Board)

The Australian Accounting Standards Board (AASB) is the independent statutory body responsible for developing, issuing and maintaining Australian Accounting Standards. In response to global sustainability reporting trends, the AASB has expanded its role to include the development of Australian Sustainability Reporting Standards (ASRS). The AASB aims to align Australian reporting practices with international standards while considering local market needs and regulatory requirements. Its work on sustainability reporting is part of a broader effort to enhance corporate transparency and support Australia's transition to a low-carbon economy.