Financial Reporting in Australia

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Financial Reporting in Australia

Businesses today face an ever-expanding range of accounting issues in addition to monitoring changes in international financial reporting standards (IFRS). BDO continually explores the Australian financial reporting landscape to identify those that matter most. 

How BDO can help

We’ve compiled these resources based on our findings to help you learn more about key accounting and regulatory changes, and how they may affect your business or industry.

DateTitle
19/05/2026Key focus areas for ASIC’s 30 June 2026 financial reporting surveillance
19/05/2026Large wholly-owned subsidiaries lose lodgement relief if parent entity fails to lodge group financial statements on time
21/04/2026New rounding legislative instrument for 30 June 2026 financial statements
18/02/2026Listed entities – Have you done your Operating and Financial Review (OFR) health check?
18/02/2026Where should climate disclosures be presented in the annual reports of listed entities?
12/11/2025Findings from ASIC’s financial reporting surveillance 2024-2025
16/10/2025Private company restates its financial statements due to ASIC inquiries regarding de facto control
16/10/2025Auditors to report overdue financial statements to ASIC
22/09/2025More than half of grandfathered proprietary companies failing to lodge financial reports – ASIC to investigate
14/11/2024Findings from ASIC’s financial reporting surveillance
21/08/2024Exploring the Operating and Financial Review – A comprehensive examination
20/06/2024Important reminder: Large private groups must lodge complete, consolidated financial statements
22/05/2024Important notice for large private companies with 'grandfathered' status
22/05/2024ASIC extends legislative instruments for auditor independence and parent entity financial reporting relief
14/04/2023Impairment testing – Can market capitalisation be used to determine fair value less costs of disposal?
14/04/2023Reminder – Non-IFRS profit measures are not permitted in the statutory financial statements
14/04/2023Six more listed entities add additional material business risk disclosure because of ASIC surveillance program
24/02/2022ASIC calls for improved disclosure about material business risks in directors’ reports
17/11/2022ASIC focusing on non-disclosure of business risks in the Operating and Financial Review of listed entities
20/10/2022ASIC updates Form FS 70 for AFS licensees
24/08/2022Lodgement exemption for large grandfathered proprietary companies has been scrapped
24/08/2022ASIC relief for AFS licensees transitioning to general purpose financial statements
23/06/2022AFS licensees required to prepare Tier 1 financial statements for 30 June 2022
23/11/2021More ASIC guidance for directors on the features of an audit committee that support audit quality
24/05/2021ASIC allows AFS licensees to include ROU assets in NTA and other calculations for financial requirements
25/06/2020Disclosure of auditors’ remuneration in 30 June 2020 financial reports – More detail required for ASX entities

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