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

An article on Identifying principal-agent arrangements – understanding what are binding arrangements  explains what binding arrangements are for the purpose of GRAP 109. The ED asks the following related questions to preparers of financial statements.

1. How do you experience identifying:

• whether a binding arrangement exists; and
• all the rights and obligations that may exist within a binding arrangement (including arrangements governed by both legislation and contracts, and multiple arrangements)?

2. Are you aware of binding arrangements that contain multiple rights and obligations, which arise from principal-agent arrangements and other type of arrangements? If yes, please provide details and examples.

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