The Financial Reporting Council has today released for public consultation a draft determination that will establish External Reporting Australia’s standard-setting boards.
External Reporting Australia will combine the functions and powers of the Australian Accounting Standards Board, the Auditing and Assurance Standards Board and the Financial Reporting Council and will commence operations on 1 December 2026.
The final determination will establish External Reporting Australia’s boards for:
- accounting standards
- auditing and assurance standards
- sustainability standards.
Consultation on the draft determination and explanatory statement is now open on the Treasury website.
The Financial Reporting Council intends to hold roundtable discussions with interested stakeholders between 7 and 9 October 2026 to obtain feedback on the draft determination. To express interest in attending a roundtable, email secretariat@frc.gov.au by 28 September 2026.
Submissions can be made via the Treasury website until 15 October 2026.
Media inquiries
Email: secretariat@frc.gov.au