Statutory Reporting
GRAP Disclosure Gap Tracker
Outstanding GRAP disclosure requirements not yet met in draft financial statements, by standard.
Why tracking GRAP disclosure gaps protects the audit opinion
Each GRAP standard carries specific disclosure requirements, and omissions, even where the underlying accounting is correct, generate limitation and misstatement findings from the AGSA. Tracking which disclosures remain outstanding in the draft, by standard, lets the team close them before submission. AuditPro Core maintains a live GRAP disclosure gap register so nothing required is left unaddressed.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Standards in scope
27
Disclosure gaps
41
▼ 9 vs prior year
High-risk gaps
12
material disclosure
Avg compliance
86%
Gaps by GRAP standard and severity
Disclosure gaps by standard
| Standard | Disclosure requirement | Severity | Owner |
|---|---|---|---|
| GRAP 17 | Useful-life reassessment note | High | CFO office |
| GRAP 104 | Credit risk maturity table | High | Treasury |
| GRAP 23 | Non-exchange revenue split | Medium | Revenue unit |
| GRAP 25 | Actuarial assumptions | High | HR finance |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
Disclosure is a standard in its own right
GRAP requires not only correct recognition and measurement but defined note disclosures for each balance and transaction class. A missing note is a compliance breach regardless of the figure's accuracy.
Standards change and so do requirements
New and amended GRAP standards introduce fresh disclosure obligations each cycle. Mapping the current standards to the draft ensures recently added requirements are not overlooked.
Gaps cluster by complexity
Complex areas such as financial instruments, related parties and commitments account for most omissions. Tracking gaps by standard directs effort to where it is most needed.
How AuditPro Core Bridges the Gap
- Disclosure register: AuditPro Core maps required GRAP disclosures to the draft and flags those not yet satisfied.
- Standard-level view: outstanding items are grouped by standard so reviewers see concentration of risk.
- Closure workflow: each gap is assigned and tracked until evidence of the disclosure is in the draft.
- Traceability: the resolved register documents disclosure completeness for the AGSA.
Key Takeaways
- Disclosure omissions are findings even when accounting is correct.
- Refresh the requirement set for new and amended GRAP standards.
- Complex standards drive most disclosure gaps.
- A closed gap register evidences disclosure completeness.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.