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This section outlines the legislation, regulatory documents and standards applicable to financial reporting and auditing.

Professional registersSearch for registered auditors listed in our professional register.
Media releasesReleases about financial reporting and auditing issues.
Legislative requirementsKey financial reporting and audit legislative requirements of Corporations Act 2001.
StandardsLinks to accounting, auditing and professional and ethical standards.
Regulatory DocumentsASIC issued guidance to help interpret the financial reporting and audit legislative requirements, including information sheets, regulatory guides, class orders and other regulatory documents.
Useful contactsThese contacts may be able to answer your questions about specific issues

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Media releases

Releases about financial reporting and auditing
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Legislative requirements

Key Financial Reporting and Audit legislative requirements of Corporations Act 2001. The table below summarises key legislative requirements for financial reporting and audit from the Corporations Act 2001. You can obtain a copy of the Corporations Act to review the detail of relevant parts by researching the Commonwealth of Australia law website Opens new window.

SourceRelevant part
Chapter 2M Financial Reports and Audit
OverviewPart 2M.1
Financial RecordsPart 2M.2
Financial ReportingPart 2M.3
Appointment and Removal of AuditorsPart 2M.4
Accounting and Auditing StandardsPart 2M.5
Exemptions and ModificationsPart 2M.6
Sanctions for Contraventions of ChapterPart 2M.7
Small Business GuidePart 5.1
Indemnities and Insurance for Officers and AuditorsPart 2D.2
Meetings of Members of CompaniesPart 2G.2
Meetings of Members of Registered Managed Investment SchemesPart 2G.4
Registration of Auditors and LiquidatorsPart 9.2
Managed Investment Schemes
The Compliance PlanPart 5C.4
The Responsible EntityPart 5C.2
Financial Services and Markets
Financial records, statements and auditPart 7.8 Div6
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Useful links:
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Regulatory documents

Information sheets | Regulatory guides | Class orders

Information Sheets (Info Sheets)
Info sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.

Regulatory guides
These documents give guidance to regulated entities by:
Regulatory Guides relevant to financial reporting:
Regulatory Guides relevant to auditing:
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Class Orders
Class orders are instruments that have a wider application. They usually apply to a class of persons who carry out a particular activity in certain circumstances, for example, timeshare scheme operators, corporations conducting market research, operators of managed investment schemes based on syndicate arrangements. ASIC refers to class orders using the prefix 'CO' before their number. For example, instrument 03/67 is a class order, and is referred to as [CO 03/67].

Class Orders relevant to financial reporting:
Class Orders relevant to financial reporting and audit:
Other ASIC Resources
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Useful contacts

These contacts may be able to answer your questions about specific issues. Please refer to the relevant website listed below for current contact details.

Professional Bodies
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More about ASIC's financial reporting and auditing liaison actitivies
Financial reporting and audit overview

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