Wednesday 4 December 2024

Meeting Date
Wednesday 4th of December 2024
Meeting Time
08:50 – 16:35
Meeting Location
Level 29, 201 Kent Street, Sydney NSW 2000, AUSTRALIA
Meeting Details

Members of the public are advised that members of the Financial Reporting Council (FRC) will attend the meeting in person or via a Microsoft Teams videoconference. Members of the public may attend the meeting via Microsoft Teams although public attendance is via registration only. Members of the public should register their interest in attending the public sessions no later than 24 hours in advance of the meeting by emailing secretariat@frc.gov.au detailing:

  • Name
  • Affiliation
  • Contact details

Download the meeting pack [PDF 2.37MB]

Item Report by Time
PUBLIC SESSION
  1. Introduction
   08:50
  1. Acknowledgement of country
  2. Attendees and apologies
  3. Declarations of interest
 Chair  
  1. UK model for a merged financial reporting body
 Mark Babington
(Executive Director, Regulatory Standards of the UK Financial Reporting Council)		 09:00
  1. Matters for noting / action
   09:30
  1. Minutes of previous meeting – 19 September 2024
  2. Action items
 Chair
Chair/Secretariat		  
  1. Environmental scan
  09:45
  1. Member reflections
  2. Stakeholder reports
 All
Secretariat		  
  1. Monitoring and influencing international developments
    per ASIC Act s 225(2)(e) to (2)(f) and s 225(2A)(f) to (2A)(g)
  10:15
  1. XRB update
  2. International developments (including recent media releases)
 Michele Embling
FRC		  
Morning tea   10:45
  1. Final report of Parliamentary Joint Committee on Corporations and Financial Services on Ethics and Professional Accountability: Structural Challenges in the Audit, Assurance and Consultancy Industry
 Chair 11:00
  1. Professional development pathways
 Amir Ghandar
Simon Grant
(CA ANZ)		 12:00

Lunch

  12:30
  1. Update from Accounting Professional & Ethical Standards Board
 Channa Wijesinghe
Jacinta Hanrahan (APESB)		 13:30
  1. Address from new Auditor-General for Australia
 Caralee McLiesh (Auditor-General, ANAO) 14:00
  1. Oversight of Australian Standards (Accounting and Auditing) per ASIC Act s 225(1) to (2A)
  14:20
  1. Australian Accounting Standards Board
    1. Financial reporting update
    2. Sustainability reporting update
  2. Auditing and Assurance Standards Board
    1. Financial auditing and assurance update
    2. Sustainability assurance update
 Keith Kendall


Doug Niven		  
  1. Public Sector Advisory Group
    per ASIC Act s 225(2)(g), (2)(h)(i) and s 225(2A)(g) and (2A)(h)(i)
Amy Fox 15:05
  1. Other business
   15:20
  1. Nominations Committee [per s 225(2)(a) and s 225(2A)(a)]
  2. Correspondence received and sent
  3. Key action items summary
 Rachel Grimes
Chair
Secretariat		  
  1. Next meeting
Chair 15:35
12 March 2025 – Melbourne    
PRIVATE SESSION
  1. Matters for private session
   15:35
Meeting close   16:35
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Notices of Meeting