ASIC has published its financial reporting, audit and sustainability focus areas for FY2026–2027.

While ASIC will maintain its focus on listed and unlisted companies and responsible superannuation entities, it will also include a selection of managed investment schemes in its audits.

ASIC also published its early observations on the first sustainability reports prepared under Chapter 2M of the Corporations Act 2001 (Cth), to assist other reporting entities as they prepare their own disclosures.

ASIC’s review of sustainability reports focused on whether users are being provided with high-quality and decision-useful information that complies with the Corporations Act and Australian Sustainability Reporting Standard AASB S2 Climate-related Disclosures.

In general, it has seen an increase in the quantity and quality of climate-related financial information in the market compared to previous voluntary climate-related disclosures.

ASIC particularly commends reports that use tables, diagrams and other visual aids to present information.

However, ASIC has identified opportunities to strengthen the quality of reporting.

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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.