ASIC combines its financial reporting and audit relief instruments

On 18 September 2026, the Australian Securities and Investments Commission (ASIC) made two new legislative instruments:

ASIC Corporations (Annual and Half-year Reporting) Instrument 2026/468(LI 2026/468)
ASIC Corporations (Auditing) Instrument 2026/469 (LI 2026/469).

These two instruments bring together 17 existing relief instruments covering financial and sustainability reporting and auditing requirements. This consolidation of relief instruments forms part of ASIC’s regulatory simplification initiative.

The new instruments do not introduce substantive policy changes. Instead, they are intended to improve clarity, consistency and accessibility by bringing existing relief together into a single reporting instrument and a single auditing instrument.

It is important to note that financial reporting relief for wholly-owned entities can be found in a separate instrument, ASIC Corporations (Wholly-owned Companies) Instrument 2026/533.

Which legislative instrument to apply for rounding relief?

These two new legislative instruments commence on the day after they are registered on the Federal Register of Legislation, i.e. 18 September 2026. Generally, the relief applies from 18 September 2026. However, there is an exception for rounding relief and audit relief.

ASIC Corporations (Annual and Half-year Reporting) Instrument 2026/468

This ‘reporting instrument’ consolidates relief for annual and half-year reporting obligations of companies, registered schemes, registrable superannuation entities, retail corporate collective investment vehicles (CCIVs), and disclosing entities.
It combines the following 14 existing reporting instruments:

As part of the consolidation, ASIC has removed duplicative relief relating to stapled entities in the 2023 and 2025 instruments and made consequential amendments to reflect the new structure.

ASIC Corporations (Auditing) Instrument 2026/469

The ‘audit instrument’ consolidates the three existing auditing relief instruments:

The bottom line

These changes are primarily administrative rather than substantive. Entities currently relying on ASIC reporting or auditing relief are unlikely to see significant practical changes, but should find the relief easier to navigate and apply under the consolidated framework. ASIC will also update related forms and regulatory guidance to reflect the new instruments.

What if I’m already relying on relief?

The transitional provisions for LI 2026/468 identify that for entities currently relying on relief under Corporations (Foreign-Controlled Company Reports) Instrument 2017/204 (LI 2017/204):

Resolutions that the entity would be relying on the relief for the relevant financial year are taken to be a resolution of directors under LI 2026/468, and
Reliance on the relief in financial year immediately preceding the relevant financial year, is taken to have relied on the relief.

Similarly, a notice that a small proprietary company has stopped relying on the relief under LI 2017/204 is taken to be a notice that the company has stopped relying on the relief under LI 2026/ 468.

Staggered start dates for rounding relief

Determining which legislative instrument applies for rounding relief in financial reports and directors’ reports can be confusing because a new instrument was issued as recently as March 2026, which superseded legislative instrument 2016/191.
The table below shows which rounding relief instrument applies.

Annual and half-year periods ending	Legislative instrument
Before 30 June 2026	ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191
On or after 30 June 2026 but before 1 January 2027	ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183
On or after 1 January 2027	ASIC Corporations (Annual and Half-year Reporting) Instrument 2026/468 (Part 2, sections 10 and 11)

Half-year and annual financial reports must therefore update their rounding notes as follows:

Ending 30 June 2026, 30 September 2026 and 31 December 2026

Update the rounding note to refer to ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183
Delete old references to ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191.

Ending 31 January 2027, 28 February 2027, etc.

Update the rounding note to refer to ASIC Corporations (Annual and Half-year Reporting) Instrument 2026/468
Annual periods: Delete old references to ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 or 2026/183
Half-year periods: Delete old references to ASIC Corporations (Rounding in Financial/Directors' Reports) Instrument 2026/183

Staggered start dates for audit relief

Audit relief for certain proprietary companies contained in Part 3 of ASIC Corporations (Auditing) Instrument 2026/469 applies to financial years ending or after 1 January 2027.

Proprietary companies seeking audit relief before this date, i.e. up to and including 31 December 2026 year-ends, must apply ASIC Corporations (Audit Relief) Instrument 2016/784.

Need assistance?

Please contact our IFRS & Corporate Reporting team if you would like further information, or if you require assistance with any financial reporting matters.