Report Two : Possibilities - Ideas on Public Sector Financial Reporting in Australia

In June 2011, Professor David Gilchrist and Associate Professor Robyn Pilcher (Gilchrist & Pilcher) presented a report to the Western Australian Treasury reviewing the Australian Accounting Standards Board’s (AASB) then newly promulgated (for introduction in 2013) Reduced Disclosure Regime (RDR). In essence, the report reviewed the applicability of the RDR in the Western Australian context and specifically considered the appropriateness or otherwise of adopting the regime.The report was reviewed by the Western Australian Treasury and, after some deliberation, it was thought useful to discuss the report with the Heads of Treasuries Accounting and Reporting Advisory Committee (HoTARAC) with a view to that body considering whether or not such a project should be replicated at the national level. At the end of August 2011, Gilchrist & Pilcher forwarded a proposed research plan and other relevant information to the Chair of HoTARAC with a view to gaining HoTARAC’s agreement that a national project was acceptable and outlining the parameters that such a project might take. Subsequently, toward the end of October 2011, HoTARAC confirmed its agreement to undertake the research program