Forvis Mazars Corporate risk and reporting newsletter - October 2026

This quarterly publication provides a comprehensive summary of the most recent financial reporting developments from local and international standard setters together with analysis of emerging business risks, helping finance leaders navigate the evolving landscape of corporate risk and reporting.

This edition reflects continued regulatory focus on the quality and timeliness of financial and sustainability reporting. We cover amendments to the accounting for investments in associates and joint ventures, ASIC’s enforcement action on late lodgements, practical guidance on materiality and valuation, and growing expectations for connected financial and sustainability reporting.

We also consider the increasing use of artificial intelligence and the governance and internal-control frameworks needed to manage it responsibly. Other key updates include climate-transition planning, sustainability-reporting assurance, data-breach trends, new director identification requirements, ASIC’s 2026–27 supervisory priorities, AUSTRAC enrolment activity and changes to financial requirements for responsible entities.

Key highlights in our October 2026 edition include:

Financial reporting

• AASB clarifies investments standard
• ASIC fines three firms $594,000
• FRC guides on materiality in reporting
• AI use in reporting is cautious
• Estimating valuation adjustments
• IVSC signals ways to value debt
• Insights on ‘connected’ reporting

Sustainability reporting

• Sustainability reporting improves
• Canberra guides on transition planning
• Changes coming to climate-related financial disclosures
• APESB releases new sustainability standard

Governance

• Regulators warn AI awareness must turn to action
• Updated guidance on AI governance
• COSO on controlling AI
• Data breaches soar
• New director ID requirements on the way
• Getting stakeholders involved

Regulators

• ASIC’s supervisory priorities for 2026–27
• ASIC remakes wholly-owned companies’ relief
• AUSTRAC sends notices to non-enrolled businesses

ASX

• ASX’s advisory group revises governance principles

AFSLs

• ASIC announces NTA changes for responsible entities

Ethics

• Ethical considerations in using emerging technologies

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