The Financial Reporting Council (FRC) of Australia is pleased to make this submission on the Public Consultation Paper: 2017-2019 PIOB Strategy. The FRC is the peak body responsible for overseeing the effectiveness of the financial reporting framework in Australia, including oversight of accounting and auditing standard-setting processes.

The work of the PIOB is therefore important to the FRC. It is critical to us that the PIOB continues to be an effective independent oversight body.