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Provide an analysis of how Commbank will comply with ASRS1 and ASRS2 for the 2024 financial year. (This may be considered as a first-time adoption

Provide an analysis of how Commbank will comply with ASRS1 and ASRS2 for the 2024 financial year. (This may be considered as a first-time adoption of an accounting standard AASB 1.

More information on ASRS 2, please.

The AASB has issued an exposure draft in October 203 for ASRS 1 and ASRS 2. The expectation is for top-tier companies the AASB standards ASRS1 ASRS 2 will be required for the financial year 2024/2025.

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