From ministers.treasury.gov.au: The Albanese Government is launching a consultation to gather feedback on a proposal to streamline Australia’s financial reporting architecture by creating a new single entity that combines the functions of the Australian Accounting Standards Board, the Auditing and Assurance Standards Board, and the Financial Reporting Council.

This reform aims to improve efficiency, regulatory consistency, and cost-effectiveness, while also supporting the development of climate-related financial disclosure standards. The consultation paper is available on the Treasury website, with feedback open until 21 February 2025.

See: Positioning Australia’s financial reporting system for the future | Treasury.gov.au