Audit alert down under
The Australian Securities and Investments Commission (ASIC) recently published its annual review, identifying significant weaknesses in financial reporting and audit quality.
Items tagged with "Australia"
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Australia’s Productivity Commission puts digital reporting on the table
Australia’s productivity growth has been slowing for more than a decade. To tackle it head-on, the Federal Government asked the Productivity Commission (PC) to run five major inquiries under its five-pillar productivity growth agenda.
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Australia urged to mandate digital reporting to boost market transparency
Chartered Accountants Australia and New Zealand (CA ANZ) has released a compelling new report highlighting the need for mandatory digital reporting in Australia. While other major economies have moved to structured, machine-readable financial disclosures, Australia still relies on PDFs—leaving investors with limited access to consistent, usable data.
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Research report calls for enhanced segment and sustainability-related disclosures
A new research report from the Australian Accounting Standards Board (AASB), Malaysian Accounting Standards Board (MASB), and CPA Australia provides timely insight into key accounting challenges that stakeholders believe the International Accounting Standards Board (IASB) should tackle in its next agenda consultation.
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Will sustainability reporting finally kickstart XBRL in Australia and New Zealand?
We liked a post from Dutch Inline XBRL specialists Tangelo this week. For over a decade, Australian companies have had the option to file financial reports in XBRL – and guess what? Not a single ASX-listed company has taken up the offer.
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AASB launches resource hub to support climate reporting
The Australian Accounting Standards Board (AASB) has launched the AASB S2 Knowledge Hub to support the implementation of mandatory climate-related disclosures under AASB S2. The hub, introduced in May 2025, is designed to guide entities preparing sustainability-related financial disclosures under Australia’s new reporting framework.
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Australia urged to accelerate move to digital financial reporting
The use of XBRL in Australia is currently voluntary, but that might be set to change. Chartered Accountants Australia and New Zealand (CA ANZ) has called on the government to mandate digital financial reporting for listed companies, arguing that structured, machine-readable data would improve efficiency and align Australia with global best practices.
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Australia aligns climate disclosures with international standards after extensive consultation
Last week Australia passed legislation that mandates climate-related financial disclosures for large entities.
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Australia publishes draft ESG reporting law
Following a consultation last year, the Australian Government Treasury has introduced draft legislation mandating comprehensive climate-related reporting and assurance for large and medium-sized companies. The legislation is aligned with the International Sustainability Standards Board (ISSB) standards.
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AASB shines a light on materiality in financial reporting
Materiality, a linchpin in financial reporting, has garnered renewed attention from the Australian Accounting Standards Board (AASB). Two recent publications shine a light on the application of materiality by preparers and auditors, revealing a need for more nuanced approaches that align with user expectations.
