AUSTRALIA: ASIC Consultation Papers on Financial Reporting and Foreign Licensees

Thursday October 1 2015

On 1st October 2015, ASIC released two consultation papers proposing to remake eight class orders that are due to expire in 2016, 2017 and 2018.

One consultation paper covers class orders affecting the rounding of amounts in financial reports, the transfer of information from directors’ reports, reporting by disclosing entities, uncontactable members and synchronisation of financial years with a foreign parent.

The second consultation paper deals with class orders affecting financial reporting and record-keeping obligations of foreign entities which hold an Australian financial services (AFS) licence (foreign licensees).

Click on the link above for further details.