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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

New and revised accounting standards, AASB 108

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.

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.

ASIC focus areas for FY 2025-26 financial reports

Boards play a critical role in the success of private businesses by providing strategic direction, advising the Executive team, overseeing business performance, and managing risk and compliance. To fulfill these roles effectively, Board members need to be equipped with insightful information.

Explore recommendations to improve Aged Care Financial Standards and support provider stability.

While APRA has acknowledged the achievements of member-owned and not-for-profit funds to-date, it also noted Boards must do more to ensure long-term sustainability of their organisations.

APRA has proposed eight updates to governance and fit and proper requirements for banks, insurers, and superannuation trustees. Businesses must proactively adapt their governance practices to align with these enhanced standards.

ASIC focus areas for 31 December 2024 financial reports