Reporting obligations for disclosing entities

A ‘disclosing entity’ is defined in section 111AC of the Corporations Act 2001 (Corporations Act). A disclosing entity can include a registered managed investment scheme (registered scheme).

Disclosing entities that are not foreign incorporated or formed outside Australia

A disclosing entity that is not foreign incorporated or formed outside Australia must prepare both:

  • annual financial reports
  • half-yearly financial reports.

Annual reports

Unless the entity is not a disclosing entity when lodgement is due (see ASIC Corporations (Disclosing Entities) Instrument 2016/190), annual reports must be:

  • prepared in accordance with Chapter 2M of the Corporations Act
  • audited
  • lodged with ASIC within three months of the financial year end
  • sent to members by the earlier of four months after the financial year end or 21 days before the next AGM (three months if a registered scheme).

Half-yearly reports

Unless the entity is not a disclosing entity when lodgement is due (section 302 of the Corporations Act) or if the entity’s first financial year lasts for eight months or less (see ASIC Corporations (Disclosing Entities) Instrument 2016/190), half-yearly reports must be:

  • prepared in accordance with Chapter 2M of the Corporations Act
  • subjected to audit or review
  • lodged with ASIC within 75 days of the half-year end.

Half-yearly reports are not required to be sent to members.

Disclosing entities incorporated or formed outside Australia

A disclosing entity incorporated or formed outside Australia does not need to comply with Chapter 2M of the Corporations Act unless it is a registered scheme.

What's new

Industry funding

ASIC has released its Cost Recovery Implementation Statement (CRIS), which includes estimated costs for ASIC’s 2017-18 regulatory activities. 6 Oct, 17-334MR

Review of 31 December 2016 financial reports

ASIC has announced the results from a review of the 31 December 2016 financial reports of 90 listed and other public interest entities. 17-219MR, 30 June

Inspection of audits for 2015–16

ASIC has released the results of its audit firm inspections for the 18 months to 31 December 2016, as well as three information sheets related to improving audit quality and our inspection process. 17-214MR, 29 June

Communicating ASIC’s findings from audit files,

This new regulatory guide provides transparency on our criteria and process for communicating financial reporting and audit findings. 17-200MR, 23 June

More releases on financial reporting and audit

Last updated: 20/10/2014 12:00