Compliance with accounting standards by reporting entities in the public sector is commonly supplemented by:
A) ASIC
B) 'Treasurer's Instructions'
C) FRC
D) the Corporations Act

Question

Quizplus · Accepted Answer

'Treasurer's Instructions' are specific financial policies and procedures established by the Treasurer, which reporting entities in the public sector must comply with to ensure accurate and consistent financial reporting. ASIC and the Corporations Act are not directly applicable to the public sector, and the FRC primarily deals with financial reporting for entities in the private sector.

Compliance with Accounting Standards by Reporting Entities in the Public