Friday 6 June 2025

Meeting Date
Friday 6th of June 2025
Meeting Time
10:00 – 15:30
Meeting Location
Level 29, 201 Kent Street, Sydney, NSW 2000
Meeting Details

Members of the public are advised that members of the Financial Reporting Council (FRC) will attend the meeting in person or via Microsoft Teams. 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
Item Report by Time
PUBLIC SESSION    
1. Introduction   10:00
  1. Acknowledgement of country
  2. Attendees and apologies
  3. Declarations of interest
 Chair  
2. Matters for noting/action   10:05
  1. Minutes of previous meeting – 5 March 2025
  2. FRC Strategic Plan 2025–26
  3. Action items
 Chair
Chair
Chair/Secretariat		  
3. Environmental scan   10:10
  1. Member reflections
  2. Stakeholder reports
 All
Secretariat		  
4. Oversight of Australian Standards (Accounting and Auditing) per ASIC Act s 225(1) to (2A)   10:40
  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
 AASB Chair


AUASB Chair		  
Morning tea   11:20
5. Monitoring and influencing international developments per ASIC Act s 225(1A) and s 225(2C)(f)   11:40
  1. XRB update
  2. International developments (including recent media releases)
 XRB Chair
FRC		  
6. Public Sector Advisory Group (PSAG) per ASIC Act s 225(1A)   12:10
  1. PSAG update
  2. Application of accounting standards to local government
 Amy Fox  
7. Nominations Committee report per ASIC Act s 225(2)(a) and s 225(2A)(a)   12:35
  1. Nominations Committee update
  2. Proposed amendments to Nominations Committee Charter
 Rachel Grimes
Justin Williams		  
8. Proposed amendments to AASB and AUASB Charter   12:50
9. Other business   13:10
  1. Correspondence received and sent
  2. Key action items summary
  3. Next meeting: 17 September 2025, Melbourne
 Chair
Secretariat
Chair		  
Lunch   13:25
PRIVATE SESSION    
10. Matters for private session   14:00
Meeting close   15:30
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Notices of Meeting