Tuesday 25 June 2024

Meeting Date
Tuesday 25th of June 2024
Meeting Time
09:30 – 16:00
Meeting Location
Level 8, 697 Collins Street, Docklands – Melbourne Productivity Commission office
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

Registered attendees will be emailed Microsoft Teams meeting details by 24 June 2024.

Download the meeting pack [PDF 1.15MB]

Item

Report by

Time

PUBLIC SESSION

1. Introduction

   09:30
  1. Acknowledgement of country
  2. Attendees and apologies
  3. Declarations of interest
  4. New FRC appointments
 Chair  

2. Matters for noting/action

   09:35
  1. Minutes of previous meeting – 19 March 2024
  2. Action items
 Chair
Chair/Secretariat		  

3. Environmental scan

   09:45
  1. Member reflections
  2. Stakeholder reports
    

4. Oversight of Australian Standards (Accounting and Auditing) per ASIC Act s 225(1) to (2A)

   10:15
  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		  
Morning tea   11:00

5. Monitoring and influencing international developments per ASIC Act s 225(2)(e) to (2)(f) and s 225(2A)(f) to (2A)(g)

   11:15
  1. XRB Update
  2. International developments (including recent media releases)
    1. IAASB update
 Michele Embling
FRC		  

6. 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 11:45

7. Treasury consultations/Government processes

  1. Regulation of accounting, auditing and consulting firms in Australia
  2. Tax Regulator Information Gathering Powers Review
  3. Update on future institutional arrangements for standard-setting (combination of FRC, AASB and AUASB)
  4. Senate report on Management and assurance of integrity by consulting services
 Chair
Tom Dickson
Deepti Paton
Bart Hoyle
Kim Demarte
Chair		 12:00
Lunch   13:00
8. Other business   13:30
  1. Nominations Committee [per s 225(2)(a) and s 225(2A)(a)]
  2. Correspondence received and sent
  3. Key action items summary
 FRC Nominations Committee Chair
Chair
Secretariat		  

9. Next meeting

Chair 13:45
19 September 2024 – Melbourne    
PRIVATE SESSION

10. Matters for private session

   13:55
Meeting close   16:00
tag
Notices of Meeting