© Commonwealth of Australia 2016
ISSN 2204-0935 (Print)
ISSN 2204-0943 (Online)
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Financial Reporting Council
c/- The Treasury
Parkes ACT 2600
Printed by CanPrint Communications Pty Ltd
Mr Bill Edge
c/- The Treasury
Canberra ACT 2600
29 September 2016
The Hon Scott Morrison
CANBERRA ACT 2600
I have pleasure in presenting the annual report of the Financial Reporting Council (FRC) for the year ended 30 June 2016.
The report has been prepared in accordance with sections 235B of the Australian Securities and Investments Commission Act 2001 (ASIC Act) for presentation in the Parliament. Subsection 235B(1) of the ASIC Act requires the FRC to prepare a report on its operations during the year, and on the achievement of the objects of Part 12 of the ASIC Act relating to accounting and auditing standards. Section 225(2B) of the ASIC Act further requires the FRC to provide strategic policy advice and report on the quality of audits conducted by Australian auditors.
Subsection 235B(4) of the ASIC Act requires the report to be tabled in each House of the Parliament as soon as practicable.