31 December reporting season is here, and there is much for all to absorb and act upon. ASIC’s focus areas are like 30 June – revenue, impairment and asset values, provisions, events occurring after year-end and before completing financial reports, disclosures in the reports and operating and financial reviews.

We need to take a fresh look at what ASIC is telling us. What gives them a different complexion is the current uncertain markets and economic conditions including the effect of Trump tariffs. The Hall Chadwick team trust that the appendix ASIC ‘enduring’ focus areas for financial reporting will help preparers, audit committees, and directors. ASIC has released its 2026 enforcement priorities, insights into whistleblowing and guidance on managing conflicts of interest. Governance and report preparers need to be alert to these developments.

Sustainability and climate change, its subset here in Australia, are a mountain to climb. Financial reporting and climate changes are interrelated, and then there is the first-time preparation of sustainability reports for Group 1 entities. There is a helpful resource from CA ANZ in its Sustainability Playbook.

The Association of Superannuation Funds of Australia has launched a Scams and Fraud Toolkit and companion Scams Policy Template. A handy resource that can be applied broadly.

From 1 July, employers will be required to deposit employees’ super into accounts within seven business days of payday. It is a cash flow and compliance challenge. So, what to do? Understand and act on the relevant developments. Update corporate risk registers.