Preparers of financial reports

Financial reporting for companies, registered schemes and disclosing entities in Australia is governed by the Corporations Act 2001 (Corporations Act).

Financial reports which have been prepared in accordance with the law help maintain and promote confidence and integrity in Australia’s capital markets.

ASIC runs a financial reporting surveillance program with the aim of improving the quality of financial reporting. We regularly review the annual and interim financial reports of selected listed companies and other significant public interest entities to monitor compliance with the Corporations Act and Australian Accounting Standards. We also review financial reports based on complaints, other intelligence and through our audit inspection program.

What's new

Review of 31 December 2016 financial reports, ASIC has announced the results from a review of the 31 December 2016 financial reports of 90 listed and other public interest entities. 17-219MR, 30 June 2017

Inspection of audits for 2015–16, ASIC has released the results of its audit firm inspections for the 18 months to 31 December 2016, as well as three information sheets related to improving audit quality and our inspection process. 17-214MR, 29 June 2017

Communicating ASIC’s findings from audit files, Regulatory Guide 160 provides transparency on our criteria and process for communicating financial reporting and audit findings. 17-200, 23 June 2017

More financial reporting releases

Financial reporting requirements

Applicable legislation, professional standards and regulatory guides

Directors and financial reporting

Explains the financial reporting responsibilities of a director

Frequently asked questions about financial reporting

Common questions asked by preparers of financial reports

Relief from financial reporting requirements

Overview of relief and conditions for relief to be granted

Financial reporting surveillance program

Overview of ASIC's surveillance program

Standard Business Reporting

Simplified business-to-government reporting

Financial reporting and audit overview

What's new

Industry funding

ASIC has released its Cost Recovery Implementation Statement (CRIS), which includes estimated costs for ASIC’s 2017-18 regulatory activities. 6 Oct, 17-334MR

Review of 31 December 2016 financial reports

ASIC has announced the results from a review of the 31 December 2016 financial reports of 90 listed and other public interest entities. 17-219MR, 30 June

Inspection of audits for 2015–16

ASIC has released the results of its audit firm inspections for the 18 months to 31 December 2016, as well as three information sheets related to improving audit quality and our inspection process. 17-214MR, 29 June

Communicating ASIC’s findings from audit files,

This new regulatory guide provides transparency on our criteria and process for communicating financial reporting and audit findings. 17-200MR, 23 June

More releases on financial reporting and audit

Last updated: 20/10/2014 12:00