Corporations Legislation Amendment (Financial Reporting Panel) Bill 2012

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Corporations Legislation Amendment (Financial Reporting Panel) Bill 2012

Introduced into the House of Representatives on 21 June 2012
Portfolio: Treasury

1.2        This bill amends the Australian Securities and Investments Commission Act 2001, the Corporations Act 2001 and the Corporations (Fees) Act 2001 to repeal the functions and powers of the Financial Reporting Panel (FRP).

1.3        The FRP was established to resolve contested issues between the Australian Securities and Investments Commission and reporting entities over the application of the accounting standards to financial reports. It is being closed because of a low number of referrals.

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