The standard that requires the disclosure of auditor's remuneration and executives' remuneration in the published reports is:
A) AASB 1031
B) AASB 101
C) AASB 118
D) No accounting standard requires the disclosure of auditor's remuneration and executives' remuneration

Question

Quizplus · Accepted Answer

AASB 101 (Presentation of Financial Statements) requires the disclosure of key management personnel compensation in the notes to the financial statements. This includes disclosures related to executives' remuneration. While it does not specifically mention auditor's remuneration, such disclosures are typically required by corporate regulations and other standards, not directly by AASB 101. However, AASB 101 is the closest standard related to the disclosure of executives' remuneration among the options provided.

The Standard That Requires the Disclosure of Auditor's Remuneration and Executives