Consultation period: 23 January to 21 February 2025

We invite views on a proposed body that combines the:

  • Australian Accounting Standards Board

  • Auditing and Assurance Standards Board

  • Financial Reporting Council.

The government announced plans to combine these into one body.

Your feedback will help refine the proposal before developing legislation.

Consultation paper

The paper seeks feedback on the proposed:

  • body’s structure

  • model of making standards for:

    • accounting

    • sustainability

    • auditing and assurance

  • transparency measures for the board and committees’ roles

  • board and committees’ candidates’ independence from industry

  • ways to strengthen governance and oversight arrangements.

Roundtable discussions

Treasury is planning roundtable discussions for mid‑February.

To express interest in attending, email FRSReform@treasury.gov.au by 5 February. Include your preferred location – Sydney, Melbourne or online.

Key documents