Regulators (ASIC, IASB, ISSB, AASB, ASX), accounting standards and external audit

What this note covers

1. Why financial reporting needs external regulators
2. ASIC: Australia's corporate, markets and financial services regulator
3. AASB: setting Australia's accounting standards
4. The IASB and international convergence of accounting standards
5. The ISSB and AASB S2: extending regulation to sustainability disclosure
6. The ASX: listing rules and continuous disclosure
7. External audit: function and the role of the external auditor
8. How this topic is examined and what separates a top response

8 sections · 12 key terms & formulas · 6 common mistakes