New Accounting Standard Registered
The Australian Accounting Standards Board has registered a new accounting standard, AASB 20 Regulatory Assets and Regulatory Liabilities, under the Corporations Act 2001. It took effect and was registered on 22 October 2026 and is now in force.
What the Source Confirms
The source page does not provide details of what the standard requires, who must apply it, or any transition timeframes. It confirms only that the standard has been registered and is administered by the Department of Treasury.
Key Actions
- Download the full legislative instrument and explanatory statement from the Federal Register of Legislation page at https://www.legislation.gov.au/F2026L01401 to see if it applies to your business's financial reporting.
- If your business prepares statutory financial statements, pass this standard to your accountant or bookkeeper to assess whether AASB 20 affects your reporting obligations.
- Use the 'Set up an alert' or 'Save this title to My Account' options on the Federal Register page to track future updates to this standard.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.