31 March 2021 - Regulators target financial compliant reporting standards

ASIC prosecuted three companies between 1 July 2020 to 31 December 2020 for failing to comply with their financial reporting obligations. Australian companies are required by law to lodge annual financial reports with ASIC within a specified period after the end of the financial year.

APRA has also taken action against Macquarie Bank over multiple breaches of prudential and reporting standards.

People in leadership roles in your organisation should stay across all regulatory obligations including on-time financial reporting. Check out our AFSL RM CPD, an essential update for responsible managers and governance, risk and compliance leaders.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.