We're glad to announce that Vanguard Consulting Group has been admitted to two Project Advisory Panels (PAP) under Australian Accounting Standards Board (AASB). Our very own Igor Ivannikov is now a member of Conceptual Framework Project Advisory Panel and Fair Value Project Advisory Panel.
The Conceptual Framework PAP is working on supporting AASB in update and smooth implementation of AASB Conceptual Framework for Not-For-Profit (NFP) private and public sector entities. The Fair Value PAP is working at the moment on helping AASB with application of AASB 13 Fair Value Measurement in public sector entities.
The work being under progress by both PAPs is very important for the local government. We're hoping to contribute our share of knowledge and expertise in matters relevant to local government financial reporting, in particular: control over assets, fair valuation of infrastructure assets, accounting for concessionary leases and others.
This is an impressive achievement for our practice and a confirmation of our expertise and qualifications gained in the public sector accounting and financial reporting.
Will keep you in the loop interesting cases...