2025-26 Update: Australian Financial Reporting and Regulation
The Australian Government has introduced a number of legislative changes in response to recent events, and these are likely to affect a tax practitioner’s day-to-day work. This course will ensure that the advice you provide your clients is useful, up-to-date and accurate.
£100 +VAT
2025-26 Update: Australian Financial Reporting and Regulation
£100 +VAT
2025-26 Update: Australian Financial Reporting and Regulation
This course is not currently available. To find out more, please get in touch.
This course will enable you to
- Understand the scope of the Tax Agent Services Act 2009 (TASA) and the key legislative amendments introduced
- Clarify the different obligations under the Code of Professional Conduct
- Outline the eight new obligations introduced by the Tax Agent Services (Code of Professional Conduct) Determination 2024
- Discuss the key changes proposed by AASB 18 Presentation and Disclosure in Financial Statements
- Describe the four main elements of the Government’s statement on developing an innovative Australian digital asset industry
About the course
The PwC scandal exposed serious weaknesses in the integrity of Australia’s regulatory framework, prompting a number of legislative changes. For tax practitioners, these changes are not just theoretical, they have a direct impact on daily professional responsibilities and ethical obligations.
This course looks at these changes, as well as updates to the Code of Professional Conduct, and the preparation of financial reports. We also look at the treatment of cryptoassets, and how this emerging area is likely to develop in the coming years.
You’ll come away with the clarity and confidence to ensure your advice is useful, up-to-date and accurate.
Contents
Reforms
The regulatory landscape
Treasury Laws Amendment (2023 Measures No. 1) Act 2023
The Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024
Promoter penalty law reform
Extending tax whistleblower protections
Further Tax Practitioners Board reforms
Breaching the Code
Information sharing
Ongoing developments
Changes to the Code of Professional Conduct
Background
Changing the Code
The new obligations
Upholding and promoting ethical standards
False or misleading statements
Activities undertaken for government
Keeping proper client records
Competency
Quality management systems
Keeping your clients informed
Financial reporting update
Focus areas
Consolidated entity disclosure statements
Key standards
AASB 18
Reporting for duty
Sustainability reporting
Merging reporting bodies
The regulation and taxation of digital assets
The digital asset industry
Regulating digital assets
The Crypto-Asset Reporting Framework
ASIC updates and other regulatory pipelines
The taxation of cryptocurrencies
How it works
Author
Lucy Webb
Lucy is a chartered accountant (ACA) and chartered tax adviser (CTA). She gained her experience in practice at Deloitte, working for multinational clients as well as clients within the asset management industry.
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