Thursday 8 September 2022

Meeting Date
Thursday 8th of September 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 7 September by emailing frcsecretariat@treasury.gov.au detailing:

  • Name
  • Affiliation
  • Contact details

Registered attendees will be emailed Microsoft Teams details by Wednesday, 7 September 2022.

Meeting Papers

Download meeting papers [PDF 3.8MB]

Item Report by Time
NON‑PUBLIC SESSION
  1. Matters for non‑public session*
 Chair 9.30am
PUBLIC SESSION
  1. Introduction
   10.00am
  1. Attendees and apologies
  2. Declarations of interest
 Chair
Chair		  
  1. Matters for noting / action
   10.05am
  1. Minutes of previous meeting – 2 June 2022
  2. Matters arising
 Chair
Chair		  
  1. Oversight of Australian Standards (Accounting and Auditing)
    per s225(1) to s225(2A)
   10.30am
  1. Australian Accounting Standards Board
  2. Auditing and Assurance Standards Board
  3. AASB 1049 Post Implementation Review
  4. AASB and AUASB Standards Portal demo
 Keith Kendall
Bill Edge
Justin Williams
Justin Williams		  
Morning tea   11.20am
  1. Sustainability update
 Bill Edge/Keith Kendall 11.40am
  1. International and Australian developments
  2. Submission to the ISSB
  3. AASB and AUASB Sustainability Reporting Project Advisory Panel - Verbal
    
  1. Digital reporting update
 Keith Kendall 12.40pm
  1. Report of initial stakeholder views - verbal
    
Lunch   1.00pm
  1. Emerging issues and FRC priorities
  1.30pm
  1. Audit Committee Chairs project update – verbal
  2. Talent attraction and retention update
  3. Australian Casino Royal Commissions and Inquiries
  4. FRC Auditor Disciplinary Processes
  5. Cyber Security
  6. Impact of global economic environment on reporting update verbal
  7. Initiatives in addressing talent shortage issues in Public Sector
 Bill Edge/Anne Waters
Bill Edge/Anne Waters
Bill Edge/Anne Waters
Bill Edge/Anne Waters
Bill Edge/Anne Waters
Chair
Tracey Carroll		  
  1. Monitoring and influencing international developments
   2.40pm
  1. International developments
  2. UK Government response to Kingman, Brydon and CMA reports on Financial Reporting Matters
  3. XRB Update – verbal
Chair
Bill Edge/Anne Waters
Michele Embling		  
  1. Monitoring and influencing Australian developments
   3.10pm
  1. Stakeholder reports
    • At the time of drafting the meeting papers, the FRC received 11 stakeholder reports and 2 responses confirming nil update from its request to 26 stakeholders.  
 Chair  
  1. Other business
   3.30pm
  1. FRC Annual Report 2021‑22 Update
  2. Nominations Committee
  3. Peer Review Survey 2021
  4. International Standards Setting
    • Structures and Funding
    • Australia and New Zealand representation
 Chair
Chair/Bill Edge
Chair
Bill Edge/Anne Waters		  
  1. Next meeting and close
  4.00pm
  1. Wednesday 23 November 2022
 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