- Staying Compliant: ASIC’s Financial Reporting Extensions
Learn about the extended ASIC financial reporting instruments and how they affect parent entities and auditor independence.
Understand how ASIC’s latest instrument extensions impact parent entities and auditor independence.
ASIC has extended two key financial reporting instruments: the ASIC Corporations (Parent Entity Financial Statements) Instrument 2021/195 and the ASIC Corporations (Auditor Independence) Instrument 2021/75, which now remain in effect until 2029. These extensions allow parent entities to include consolidated and single entity financial statements in the same report and provide relief on auditor independence disclosures.
This update also applies similar relief to registrable superannuation entities, ensuring consistency across financial reporting frameworks. Auditors must ensure compliance with these extensions to maintain transparency and regulatory alignment.
Download this guide for a comprehensive understanding of these extensions and how they impact your audit processes.
Empower Your Next Step
- Key Metrics and Insights at a Glance
Extended Timeline
ASIC’s extension of key instruments to 2029 provides regulatory certainty and reduces ongoing financial reporting disruption.
Simplified Reporting
Parent entities may combine consolidated and single entity financial statements, improving clarity while lowering preparation effort.
Auditor Independence
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
- Explore More Insights and Resources
