Have your say on the Post-implementation Review of GRAP 109 (ED 200)

An article on Identifying principal-agent arrangements – the meaning of substance over form explains how substance over form should be assessed when identifying principal-agent arrangements. The ED asks the following related questions to preparers of financial statements.

• How do you experience applying substance over form when assessing whether an arrangement meets the definition of a principal-agent arrangement? Please describe your experience – whether positive or negative. If negative, indicate how, in your view, your challenges could be resolved.
• Please provide details and examples of instances when you have applied substance over form in assessing whether an arrangement meets the definition of a principal-agent arrangement. Please describe how any challenges identified in (a) were overcome.

To respond to these questions, access the Exposure Draft here. The comment deadline is 15 September 2023.