Financial reporting requirements

The annual financial reporting requirements (FRRs) set out Minimum Reporting Requirements for annual financial statements. They include updates on new and revised accounting policies, standards, and provide guidance on their application.

Read the 2025-26 FRRs for Queensland Government agencies (Chapters 1–5).

Chapter 1 – Introduction and prescribed accounting standards

Chapter 1 includes:

• FRR 1A: Introduction and prescribed accounting standards

Read Chapter 1 of FRRs for Queensland Government agencies.

Chapter 2 – Basis of preparation

Chapter 2 includes:

• FRR 2A: Basis of financial statement preparation
• FRR 2B: Materiality
• FRR 2C: Accounting policies, estimates and errors
• FRR 2D: Form and content of financial statements
• FRR 2E: Controlled and administered items, trust transactions and agency arrangements
• FRR 2F: Machinery-of-Government changes
• FRR 2G: Consolidated financial statements and controlled entities
• FRR 2H: Interests in associates and joint arrangements
• FRR 2I: Management certificate

Read Chapter 2 of FRRs for Queensland Government agencies.

Chapter 3 – Financial performance

Chapter 3 includes:

• FRR 3A: Statement of comprehensive income
• FRR 3B: Income
• FRR 3C: Employee benefit expenses and key management personnel remuneration
• FRR 3D: Expenses
• FRR 3E: Distinction between grants and procurement expenses

Read Chapter 3 of FRRs for Queensland Government agencies.

Chapter 4 – Financial position

Chapter 4 includes:

• FRR 4A: Statement of financial position
• FRR 4B: Assets
• FRR 4C: Employee Benefit Liabilities
• FRR 4D: Liabilities, Contingencies and Commitments
• FRR 4E: Financial Instruments
• FRR 4F: Equity, Contributions by Owners and Distributions to Owners

Read Chapter 4 of FRRs for Queensland Government agencies.

Chapter 5 – Other disclosure requirements

Chapter 5 includes:

• FRR 5A: Statement of cash flows
• FRR 5B: Related party transactions
  • Non-Ministerial KMP related party declaration form – Part A
  • Non-Ministerial KMP related party declaration form – Part B
  • Non-Ministerial KMP related party declaration form – explanatory information
• FRR 5C: Budgetary reporting disclosures
• FRR 5D: Service concession arrangements and other public-private partnerships

Read Chapter 5 of FRRs for Queensland Government agencies.

Illustrative financial statements

• FRR 6A: Sunshine Department Illustrative Financial Statements (Tier 1)
• FRR 6B: Future Bay Regional Health Foundation (Tier 2)

Summary of noteworthy changes

The Summary of noteworthy changes lists noteworthy amendments reflected in the financial reporting requirements for reporting periods beginning on or after 1 July 2025. It is an updated version of the corresponding summary issued in conjunction with the draft FRRs in May 2026. Further amendments since the release of the draft FRRs are indicated by shading.

Summary of Queensland Treasury responses to stakeholder feedback

The Summary of Queensland Treasury response to stakeholder feedback summarises stakeholder feedback received regarding the draft FRRs issued for comment in May 2026. It explains how Queensland Treasury has addressed feedback (and if not incorporated into the June 2026 final version, the reasons for this).