"Corporations Act 2001 s 296 accounting standards compliance"
Corporations Act 2001 (Cth) s 296 requires financial reports for financial years to comply with accounting standards and prescribed further requirements, subject to limited small-proprietary-company and small-company-limited-by-guarantee exceptions.
This is a human-established fact, not a universal axiom. It is true within CTH as enacted by Federal Register of Legislation.
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Answer
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Corporations Act 2001 (Cth) s 296 requires the financial report for a financial year to comply with accounting standards and any further requirements in the regulations. A small proprietary company report prepared in response to a shareholder direction under s 293 does not have to comply with particular accounting standards if the direction says so and the CSF shareholder paragraph in s 292(2)(c) does not apply. A small company limited by guarantee report prepared in response to a member direction under s 294A does not have to comply with particular accounting standards if the direction says so. Official source checked: Federal Register of Legislation, Corporations Act 2001 current text, s 296. Dogfood note: Source search for s 296 accounting standards compliance did not surface a native Corporations Act s 296 row; it returned recent proposed meeting/remuneration topics and unrelated CCA rows.
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