Institutions and groups that regulate and monitor financial reporting in Australia:
- Australian Securities and Investments Commission (ASIC)
- Financial Reporting Council (FRC)
- Australian Accounting Standards Board (AASB)
- An independent Australian Government agency that implements the FRC’s policy of adopting International Financial Reporting Standards (IFRS).
- Creates standards that ensure transparency, accountability and efficiency in financial reporting.
- Aligns Australian standards with those of the International Accounting Standards Board (IASB).
- Issued the Conceptual Framework.
- Australian Securities Exchange (ASX)
- Professional accounting bodies
- CPA Australia (CPAA)
- Chartered Accountants Australia and New Zealand (CAANZ)
- Institute of Public Accountants (IPA)