CS 42 Proposed updates to guidance on financial reporting and audit relief in RG 43

Released 12 January 2026. Comments close 9 February 2026.

We propose to update Regulatory Guide 43 Financial reports and audit relief (RG 43).

The proposed update of RG 43 intends to ensure the currency and clarity of guidance on ASIC’s approach to granting relief from the financial record keeping, financial reporting and audit requirements of Parts 2M.2, 2M.3 and 2M.4 (other than Division 4) of the Corporations Act 2001 (Corporations Act) by:

reflecting legislative reform since the guidance was last updated
incorporating relevant ASIC guidance, including guidance from Regulatory Guide 29 Financial reporting by Australian entities in dual listed company arrangements (RG 29), and
simplifying the existing guidance.

We propose to withdraw RG 29 after the updated RG 43 is published.

See Related links for a copy of the draft updated RG 43 with proposed updates and a summary of the changes.

A consultation paper was not issued for this consultation.

Providing feedback

We invite feedback on our proposal, including

whether our guidance is sufficiently clear to meet the needs of users, and
any suggested changes you may have to our guidance (if so, please provide details).

You should send your submission to rri.consultation@asic.gov.au by 5 pm AEDT Monday 9 February 2026.

You may choose to remain anonymous or use an alias when providing feedback. However, if you do remain anonymous, we will not be able to contact you to discuss your feedback should we need to.

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Background

RG 43 was last issued in May 2011. This proposed update to RG 43 provides guidance for entities seeking relief from the financial reporting and audit requirements of the Corporations Act. These include companies, disclosing entities, registered managed investment schemes, corporate collective investment vehicles and registrable superannuation entities, as well as their directors and auditors.

It explains:

how ASIC exercises our powers to grant relief from the financial record keeping, financial reporting and audit requirements of Parts 2M.2, 2M.3 and 2M.4 (other than Division 4) of the Corporations Act, and
how to apply for individual relief if you are unable to rely on existing class relief.