Wednesday 10 December 2025

Meeting Date
Wednesday 10th of December 2025
Meeting Time
09:30 – 15:30
Meeting Location
Level 29, 201 Kent Street, Sydney, NSW 2000
Meeting Details

Financial Reporting Council (FRC) members will attend this meeting in person or via Microsoft Teams. Members of the public may attend the public session of the meeting on Teams by registering their interest at least 24 hours before the meeting. Please email secretariat@frc.gov.au with your:

  • Name
  • Affiliation
  • Contact details

Item

Report by

Time

PUBLIC SESSION

1. Introduction

 

09:30

  1. Acknowledgement of country
  2. Attendees and apologies
  3. Declarations of interest

Chair

 

2. Matters for noting/action

 

09:35

  1. Minutes of previous meeting (17 September 2025)
  2. Action items

Chair
Secretariat

 

3. Environmental scan

 

09:40

  1. Member reflections

All
Secretariat

 

4. Introductory conversation with Fiona Campbell (International Federation of Accountants (IFAC) Chair of the Forum of Firms)

Fiona Campbell

10:15

Morning tea

 

10:45

5. Oversight of Australian accounting, auditing and sustainability standards
per ASIC Act s 225(1) to (2A)

 

11:05

  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 auditing and assurance update

AASB Chair


AUASB Chair

 

6. Monitoring and influencing international developments
per ASIC Act s 225(1A) and s 225(2C)(f)

 

11:45

  1. XRB Update
  2. International developments (including recent media releases)

XRB Chair
FRC

 

7. 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

12:15

8. Auditor Review Working Group update

Chair

12:20

Lunch

 

12:35

9. Use of AI in audit

AUASB Chair 
PwC

13:20

10. Other business

 

14:20

  1. Correspondence received and sent
  2. Key action items summary
  3. Next meeting: 4 March 2026, Sydney

Chair
Secretariat
Chair

 

PRIVATE SESSION

11. Matters for private session

 

14:30

Meeting close

 

15:30

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Notices of Meeting