The Australian Prudential Regulation Authority (APRA) has released an overview paper that will assist APRA-regulated institutions. Chairman John Laker says the paper – Adoption of International Financial Reporting Standards (IFRS): Prudential Implications – will assist decision-makers to assess the prudential effect and any associated risks as a result of implementing IFRS.

IFRS comes into effect from the first reporting period on or after January 1.