Introduction and guide to the report
The Financial Reporting Panel (FRP) was established under the Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 and formally commenced its operations in July 2006. The FRP’s primary function is to resolve disputes between the Australian Securities and Investments Commission (ASIC) and a company, disclosing entity or registered scheme over the applications of accounting standards in its financial reports.
The relevant legislation pertaining to the FRP is Chapter 2M Division 9 of the Corporations Act 2001 (Cth) (Act), Part 13 and Division 2 of Part 7 of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act) and Part 6 and Part 8a of the ASIC Regulations.
This report gives an overview of the FRP’s operational programme, membership, financial information and management.
Other sources of information
The FRP publishes all its public documents on its website. These include media releases, determinations issued and annual reports.
The FRP website address is www.frp.gov.au
Enquiries
The contact officer to whom enquiries regarding this report may be directed is:
Paul Power
Executive Director
Financial reporting Panel
Level 11, 607 Bourke Street
Melbourne VIC 3000
Telephone: 03 8681 7400
Facsimile: 03 8681 7410
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