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This TA Alert incorporates all the relevant pronouncements and developments as at 10 June 2026. Entities should also take into account any new pronouncements issued, or developments taking place, after this date if they are relevant for the financial year and/or half-year ended 30 June 2026.

Accounting standards issued but not yet effective for 30 June 2026

A risk that now requires a response. Recent developments have brought renewed attention to a risk historically considered remote within securitisation structures – double pledging of loan assets across funding vehicles. In the case of the collapse of UK based mortgage provider Market Financial Solutions, the same underlying loans were allocated to more than one funding trust, overstating collateral and undermining the integrity of investor reporting.

AASB S2025-1 Amendments to Greenhouse Gas Emissions Disclosures, issued by the Australian Accounting Standards Board (AASB) to amend AASB S2 Climate-related Disclosures (AASB S2)

New and revised accounting standards, AASB 108

Over time, governments have shifted away from the direct provision of certain community services, instead commissioning them through a competitive market largely serviced by not-for-profit (NFP) organisations.

There continues to be a spotlight on trust and integrity within the professional services industry. From our perspective, these have always been critical considerations.

Australian Securities and Investments Commission (ASIC) and the Auditing and Assurance Standards Board (AUASB) have both recently published FAQs providing guidance on the use of the different auditors for financial reporting audit and sustainability reporting assurance.

The purpose of this Alert is to draw attention to the Prime Minister’s announcement of Australia’s new 2035 greenhouse gas emissions reduction target and path to net zero by 2050. The new target was announced on 18 September 2025. The new target follows the independent advice of the Climate Change Authority and is supported by the release of a comprehensive Net Zero Plan, along with 6 sectoral decarbonisation plans.

The purpose of this Alert is to draw attention to the National Climate Risk Assessment report (or NCRA), delivered by the Australian Climate Service on 15 September 2025.

Accounting standards issued but not yet effective for 30 June 2025.

This TA Alert incorporates all the relevant pronouncements and developments as at 17 July 2025.