Description

The responsibilities of a government entity may encompass activities that do not lead to an increase/decrease of its controlled assets or liabilities, i.e. it is merely administering the activities on behalf of the State Government or another State Government entity.

AASB 1050 Administered Items requires the disclosure of activities administered by a reporting entity. However, it does not provide sufficient guidance in identifying administered items. This NSW Treasury Policy and Guidelines Paper (TPP) provides further guidance with examples to assist NSW government entities distinguish between controlled items and administered items.