The Financial Report Taskforce (FRTF) was established in response to one of the recommendations made by the Managing Complexity Taskforce — that the FRC examine how the current financial reporting regime for the various types of reporting entities in Australia can be best explained and understood, and if needed, seek rationalisation of the regime (for example, through further deregulation of who needs to report.

The FRC Members of the Taskforce are Ross Barker (Chair), Andrew Fleming (retired during the term of the task force), Merran Kelsall, Ian Laughlin, Ian Purchas, Kris Peach (joined the committee following the retirement of K. Stevenson) and Kevin Stevenson (retired during the term of the task force). The non FRC members of the Taskforce are Kevin Neville (Director and Head of External Audit and Assurance Division, Moore Stephens) and Susan Pascoe (Commissioner of the Australian Charities and Not for-profits Commission). Margot Le Bars, partner of PricewaterhouseCoopers and Masha Marchev, a senior accountant at PricewaterhouseCoopers, also attended meetings as required, to report on the mapping exercise.

Figure 1: Diagrammatic representation of the FRC portfolio and FRTF