Meeting Date
Thursday 2nd of June 2022
Meeting Time
10:00 am – 4:00 pm
Meeting Location
Microsoft Teams videoconference (details to be provided on registration)
Meeting Details

Members of the public are advised that the meeting will be held by Microsoft Teams videoconference and 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, being 10:00 am, Wednesday 1 June by emailing detailing:

  • Name
  • Affiliation
  • Contact details

Registered attendees will be emailed Microsoft Teams details by Wednesday, 1 June 2022.

Meeting Papers

Download meeting papers [PDF 5.48MB]

Item Report by Time
1.         Matters for non-public session* Chair 10.00am
2.         Introduction   10.30am
  1. Introduction of new Chair – verbal
  2. Attendees and apologies
  3. Declarations of interest 
3.         Matters for noting/action   10.35am
  1. Minutes of previous meeting – 10 December 2021
  2. Matters arising
4.        Oversight of Australian Standards (Accounting and Auditing) per s225(1) to s225(2A)   10.40am
  1. Proposed amendments to AASB and AUASB Charter
  2. Accounting Standards
  3. Auditing Standards
Justin Williams / Bill Edge
Keith Kendall
Bill Edge
5.        Oversight of Audit Quality per s225(2B) to s225(2C)   11.45am
  1. Auditor disciplinary processes
Lawrie Tremaine  
Lunch   12.30pm
6.          Monitoring and influencing Australian developments   1.00pm
  1. Stakeholder reports
  • The FRC received 10 stakeholder reports and 1 stakeholder
    response from the Australian Shareholders Association
    confirming nil update from its request to 19 stakeholders.
  1. Supplementary information
  • The FRC received 8 responses to its request to
    19 stakeholders for supplementary information.

7.         Monitoring and influencing international developments   1.30pm
  1. International developments
  2. Sustainability reporting
  3. Integrated Reporting Framework – verbal
  4. Report by XRB – verbal
Justin Williams
Michael Bray
Michele Embling
8.         Emerging issues   2.30pm
  1. FRC actions in response to identified themes: impact investing
    and global economic environment – verbal
  2. FRC emerging issue communication strategy – verbal

9.        Other business   3.30pm
  1. IFRS Foundation contribution
  2. FRC Annual Report 2021-22 Timeline
  3. Appointments - FRC Deputy Chair and PSWG members
10.       Next meeting and close   4.00pm
  1. Thursday 8 September 2022

* Agenda item 1 will be held in private. The order of agenda items may be changed during a meeting.