Financial Reporting Panel

Annual Report

2006-2007

ISBN 0 642 74424 6

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11 October 2007

The Hon Peter Costello MP
Treasurer
Parliament House
Canberra ACT 2600

Dear Treasurer

ANNUAL REPORT 2006-2007

I have pleasure in presenting to you, in accordance with section 239 of the Australian Securities and Investments Commission Act 2001, the 2006-07 Annual Report on the operations of the Financial Reporting Panel (FRP) for presentation to the Parliament. The report has been prepared in accordance with section 70 of the Public Service Act 1999.

The report sets out the FRP’s role as the primary adjudicator between ASIC and lodging entities in relation to the application of accounting standards in financial reports and gives an overview of the FRP’s operational programme, membership, financial information and management.

Yours sincerely