Wednesday 22 September 2021

Meeting Date
Wednesday 22nd of September 2021
Meeting Time
10.00am – 4.00pm
Meeting Location
Microsoft Teams meeting
Meeting Details

Members of the public are advised that the meeting will be held by Microsoft Teams 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 10.00am, Tuesday, 21 September by emailing frcsecretariat@treasury.gov.au detailing:

  • Name
  • Affiliation
  • Contact details

Registered attendees will be emailed Microsoft Teams details on Tuesday, 21 September 2021. 

Meeting Papers

Download meeting papers [PDF 2.1MB]

Item Report by Time
NON-PUBLIC SESSION    
1.         Matters for non-public session* Chair 10.00am
PUBLIC SESSION    
2.         Introduction   10.15am
  1. Attendees and apologies
  2. Declarations of interest 
 Chair
Chair		  
3.         Matters for noting/action   10.20am
  1. Minutes of previous meeting – 3 June 2021
  2. Matters arising
 Chair
Chair		  
4.        Oversight of Australian Standards (Accounting and Auditing) per s225(1) to s225(2A)   10.30am
  1. Accounting Standards
  2. Update on Independent AASB1049 Post Implementation Review
  3. Auditing Standards
 Keith Kendall
Justin Williams
Bill Edge		  
Lunch   12.00pm
5.        Oversight of Audit Quality per s225(2B) to s225(2C)   12.30pm
  1. Audit Quality Plan
 Bill Edge
Thea Eszenyi		  
6.          Extended External Reporting   1.30pm
  1. Update on outcomes from June meeting
  2. Snapshot of IASB’s Management Commentary
 Chair
Ann Tarca		  
7.         FRC Nominations Committee   2.00pm
  1. Update on recruitment for AASB / AUASB positions – verbal
  2. Updated Nominations Committee Charter
 Chair
Chair		  
8.         Monitoring and influencing Australian developments   2.30pm
  1. Stakeholder reports
    • Note responses confirming nil updates also received from ASX Limited, the Department of Finance and the Governance Institute
  2. Report by XRB – verbal

Chair

Michele Embling

  
9.       Monitoring and influencing international developments   3.00pm
  1. IFRS Trustees – verbal
 Joanna Perry  
10.       Other business   3.30pm
  1. Update on Public Sector Working Group – verbal
  2. FRC Annual Report 2020-21 – verbal
  3. FRC peer review timeline and questions
 Stewart Walters
Chair
Chair		  
11.       Next meeting and close   4.00pm
  1. Consideration of rescheduling next FRC meeting – verbal
 Chair  

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

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Notices of Meeting