Directors
This page provides general information around financial reporting responsibilities as a director.
Directors have a duty of care and diligence under both general law and the Corporations Act 2001 (Corporations Act).
Regulatory guidance
The following regulatory documents provide information about directors and financial reporting responsibilities:
Information Sheet 183 Directors and financial reporting (INFO 183)
Information Sheet 196 Audit quality: The role of directors and audit committees (INFO 196)
Information Sheet 203 Impairment of non-financial assets: Materials for directors (INFO 203)
Regulatory Guide 22 Directors’ statement as to solvency (RG 22)
Regulatory Guide 260 Communicating findings from audit files to directors, audit committees or senior managers (RG 260)
Financial reporting quiz for directors
Try this free 10 question multiple choice quiz to assist you in testing your knowledge of financial reporting.
The quiz focuses on the more technical elements of financial reporting rather than broader financial knowledge. For example, it doesn't test understanding of matters such as financial products or instruments, assessments for capital and funding decisions, financial processes and controls, or how decisions can impact on the future financial health of a company.
This quiz was developed by the Australian Securities and Investments Commission, Australian Institute of Company Directors, CPA Australia, The Chartered Accountants Australia and New Zealand and the Institute of Public Accountants. The idea for the quiz came from a response to the survey on director financial literacy conducted by the Financial Reporting Council.
Privacy
Completion of this quiz is confidential, no names or email addresses of participants are recorded for any reasons. Responses are collected by a third-party survey provider. IP addresses of respondents are hidden and are not available to ASIC.
Completion of the demographic data in the questionnaire is optional, and will only be used to help us refine the questionnaire in the future.