About the Trans Tasman Accounting and Auditing Standards Advisory Group
The Trans Tasman Accounting and Auditing Standards Advisory Group (TTAASAG) was established in 2004 with the purpose of advising the Australian and New Zealand accounting and auditing standard and oversight bodies, and Governments, on strategies to:
- Establish a single set of trans-Tasman accounting standards within the broader context of both jurisdictions’ objective of adopting international accounting standards; and
- Maximise the influence of Australia and New Zealand in the development of international accounting standards and the international accounting standard setting process.
In undertaking this role, TTAASAG is guided by the fundamental principle contained in the Australia/New Zealand Memorandum of Understanding on Business Law Co-ordination that entities should only have to comply with one set of rules and have certainty as to the application of those rules in the other jurisdiction.