Key Documents
We invite views on a proposed body that combines the:
- Australian Accounting Standards Board
- Auditing and Assurance Standards Board
- Financial Reporting Council.
The government announced plans to combine these into one body.
Your feedback will help refine the proposal before developing legislation.
Consultation paper
The paper seeks feedback on the proposed:
- body’s structure
- model of making standards for:
- accounting
- sustainability
- auditing and assurance
- transparency measures for the board and committees’ roles
- board and committees’ candidates’ independence from industry
- ways to strengthen governance and oversight arrangements.
Roundtable discussions
Treasury is planning roundtable discussions for mid‑February.
To express interest in attending, email FRSReform@treasury.gov.au by 5 February. Include your preferred location – Sydney, Melbourne or online.
Responding
You can submit responses to this consultation up until 21 February 2025. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
View our submission guidelines for further information.
How To Respond
Online – preferred method
How To Respond
Post
Address written submissions to:
Financial Reporting System Reform Unit
Market Conduct Division
Treasury
Langton Cres
Parkes ACT 2600
Enquiries
Email: FRSReform@treasury.gov.au