News in brief…8 July 2026

Legislation to establish External Reporting Australia receives Royal Assent; ASIC publishes report on voluntary administration, deed of company arrangement outcomes

Legislation to establish External Reporting Australia receives Royal Assent Legislation to merge the core standard-setting functions of the Financial Reporting Council (FRC), the Australian Accounting Standards Board (AASB), and the Auditing and Assurance Standards Board (AUASB) into a new body has received Royal Assent on 6 July. The Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026, amends the Australian Securities and Investments Commission Act 2001 to abolish the AAS...

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Published Date: 08 July 2026