The Australian conceptual framework of accounting has been identical to the IASB's conceptual framework since the two were harmonised in 1997.

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The Australian conceptual framework of accounting and the IASB's conceptual framework have not been identical since 1997. Although Australia has adopted many standards that align with the IASB to harmonize its accounting practices with international standards, the frameworks themselves are not identical. Australia's adoption of IFRS (International Financial Reporting Standards) began in 2005, which marked a significant step towards harmonization, but this does not mean the conceptual frameworks are the same.

The Australian Conceptual Framework of Accounting Has Been Identical to the IASB's