APRA publishes disclosure standard

Posted on December 16, 2022 by Editor

The Australian Prudential Regulation Authority (APRA) has released its final Prudential Standard APS 330 Public Disclosure for locally incorporated authorised deposit-taking institutions (ADIs). The new standard follows a public consultation, and will be effective from 1 January 2023.

Although the new standard ensures APRA-mandated Pillar III disclosures are in line with international standards set by the Basel Committee, these disclosures would be more useful and more effective as a policy tool if they were published in structured format (e.g: in Inline XBRL) – something we hope to see progress on in the coming years.

Access the new standard, response paper and more here.

Also Down Under, this week the Australian Treasury published a consultation paper on climate-related financial disclosures for the Australian market. Our readers should take note, in particular, of “Question 18: Should digital reporting be mandated for sustainability risk reporting?”

Get your responses ready — they are due 17 February! Find the paper here.

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