Which of the following would have public accountability under AASB 1053: Application of Tiers of Australian Accounting Standards?

Public accountability under AASB 1053 refers to entities that are required to prepare financial statements that comply with the Australian Accounting Standards due to their public nature. Generally, entities with public accountability include those that are publicly traded, financial institutions, or those that hold assets in a fiduciary capacity.

To determine public accountability, consider the following:

1. Entities listed on a stock exchange – These must adhere to public accountability since their financial statements are provided to the public.

2. Banks and credit unions – Financial institutions must comply with strict public accountability standards.

3. Charities and not-for-profit organizations – If they hold assets in a fiduciary capacity or receive public funding, they may also be subject to public accountability requirements.

In summary, entities with public accountability under AASB 1053 typically include public companies, financial institutions, and certain non-profits/charities based on their operational structure and funding sources.