Regulatory Alerts2020-06-19 | RG-115RG 115 Audit relief for proprietary companies
The Australian Securities and Investments Commission issued this guide to explain audit relief available to proprietary companies and their auditors under the Corporations Act 2001. It details the relief provided by the ASIC Corporations (Audit Relief) Instrument 2016/784 from the general requirement to have financial reports audited, as well as individual case-by-case relief available under section 340. The document also notes that applications for such relief must be submitted through the ASIC Regulatory Portal starting from 27 July 2020.
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