Finance Industry
Auditing and Assurance Standards Board (AUASB)
The Auditing and Assurance Standards Board is an independent statutory body with an important role in developing high quality standards and related guidance for auditors and providers of other assurance services.
Australian Accounting Standards Board (AASB)
The AASB makes accounting standards for the private, public and not-for-profit sectors and participates in the formulation of international accounting standards. It is subject to broad oversight by the Financial Reporting Council.
Australian Prudential Regulation Authority (APRA)
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of banks, insurance companies and superannuation funds, credit unions, building societies and friendly societies.
Australian Securities and Investments Commission (ASIC)
The Australian Securities and Investments Commission (ASIC) is an independent government body that enforces and administers Corporations Law and consumer protection law for investments, life and general insurance, superannuation and banking (except lending) throughout Australia. Their purpose is to reduce fraud and unfair practices in financial markets and financial products so consumers use them confidently and companies and markets perform effectively.
Australian Transaction Reports and Analysis Centre (AUSTRAC)
Australian Transaction Reports and Analysis Centre (AUSTRAC) is Australia's anti-money laundering regulator and specialist financial intelligence unit. In their regulatory role, they oversee compliance with the reporting requirements of the Financial Transaction Reports Act 1988 by a wide range of financial services providers, the gambling industry and others. In their intelligence role, they provide financial transaction reports information to Australian, State and Territory law enforcement and revenue agencies.
Financial Reporting Council (FRC)
The Financial Reporting Council (FRC) is a statutory body responsible for providing broad oversight of the process for setting accounting standards in Australia and giving the Minister reports and advice on that process.
Financial Reporting Panel (FRP)
The Financial Reporting Panel (FRP) resolves disputes between the Australian Securities and Investments Commission (ASIC) and companies concerning the application of accounting standards.
Insolvency and Trustee Service Australia (ITSA)
The Insolvency and Trustee Service Australia (ITSA) is the government agency responsible for the administration and regulation of the personal insolvency system in Australia.
