Australian Human Rights Commission Annual Report 2021–22 Overview (continued) 2021 Adjustment $’000 Statement of financial position (extract) LIABILITIES Payables Other payables Total payables Total liabilities Net liabilities 2021 restated $’000 6,599 8,366 13,271 (5,436) 2,338 2,338 2,338 (2,338) 8,937 10,704 15,609 (7,774) TOTAL EQUITY Accumulated losses Total equity (10,399) (5,436) (2,338) (2,338) (12,737) (7,774) Statement of changes in equity (extract) ACCUMULATED LOSSES Comprehensive income Deficit for the period Closing balance as at 30 June (4,726) (10,399) (2,338) (2,338) (7,064) (12,737) (4,726) (2,911) (5,436) (2,338) (2,338) (2,338) (7,064) (5,249) (7,774) TOTAL EQUITY Comprehensive income Deficit for the period Total comprehensive income Closing balance as at 30 June New Accounting Standards No accounting standard has been adopted earlier than the application date as stated in the standard. The following new standard which was issued prior to the signing of the statement by the Accountable Authority, Chief Executive and the Chief Finance Officer, is applicable to the current reporting period and had no material effect on the Commission's financial statements: 86