Financial Reporting Council

The Financial Reporting Council (FRC) is the peak body responsible for overseeing the effectiveness of the financial reporting framework in Australia.  Its key functions include the oversight of the accounting and auditing standards setting processes for the public and private sectors, monitoring the effectiveness of the auditor independence regime, and advising the Minister on these matters. It is a statutory body under Part 12 of the Australian Securities and Investments Commission Act 2001 (the ASIC Act).

Future FRC Meetings

• Tuesday, 29 May 2012, in Melbourne.
• Tuesday, 28 August 2012, in Sydney.
• Wednesday, 5 December 2012, in Melbourne.

What's New?

• The speech presented by Lynn Wood at the IFRS Regional Policy Forum in March 2012 is now available.
• The speech presented by John Stanhope at the GRI Conference in March 2012 is now available.
• The minutes for the March and April FRC Integrated Reporting Task Force meetings are now available.
• The FRC is currently conducting a survey in order to gain an insight into the financial literacy of company directors in Australia and how any perceived gaps in their understanding of financial issues might be addressed. There are two versions of the survey - one for directors, the other for financial professionals - and they can be accessed at the following web addresses:
• For directors:
  • Company Director Financial Literacy Survey - Directors 
    
  • or Company Director Financial Literacy Survey - Directors (alternative link)
• For financial professionals:
  • Company Director Financial Literacy Survey - Financial Professionals 
    
  • or Company Director Financial Literacy Survey - Financial Professionals (alternative link)