Updated PBE Tier Sizes – Reporting relief to benefit smaller charities and NFP
The XRB has amended XRB A1 Application of the Accounting Standards Framework to increase the Public Benefit Entities (public sector and not-for-profit entities) size thresholds for Tiers 1, 2 and 3 as follows:
- Tier 1/2: $33 million total expenses (from $30 million)
- Tier 3: $5 million total expenses (from $3 million)
The effective date of accounting periods that end on or after 28 March 2024 means that entities with a balance date of 31 March 2024 can apply the new tier sizes immediately. As a result, some entities may be eligible to move from Tier 2 to Tier 3 and therefore able to benefit from a notable reduction in reporting requirements.
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Source: XRB (External Reporting Board) Updated PBE Tier Sizes » XRB