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.