Reporting obligations for disclosing entities
A ‘disclosing entity’ is defined in section 111AC of the Corporations Act 2001 (Corporations Act). A disclosing entity can include a registered managed investment scheme (registered scheme).
Disclosing entities that are not foreign incorporated or formed outside Australia
A disclosing entity that is not foreign incorporated or formed outside Australia must prepare both:
- annual financial reports
- half-yearly financial reports.
Disclosing entities that must prepare a financial report may also have to prepare a sustainability report. For more information, see Who must prepare a sustainability report?
Annual reports
Unless the entity is not a disclosing entity when lodgement is due (see ASIC Corporations (Disclosing Entities) Instrument 2016/190), annual reports must be:
- prepared in accordance with Chapter 2M of the Corporations Act
- audited
- lodged with ASIC within three months of the financial year end
- sent to members by the earlier of four months after the financial year end or 21 days before the next AGM (three months if a registered scheme).
Half-yearly reports
Unless the entity is not a disclosing entity when lodgement is due (section 302 of the Corporations Act) or if the entity’s first financial year lasts for eight months or less (see ASIC Corporations (Disclosing Entities) Instrument 2016/190), half-yearly reports must be:
- prepared in accordance with Chapter 2M of the Corporations Act
- subjected to audit or review
- lodged with ASIC within 75 days of the half-year end.
Half-yearly reports are not required to be sent to members.
Disclosing entities incorporated or formed outside Australia
A disclosing entity incorporated or formed outside Australia does not need to comply with Chapter 2M of the Corporations Act unless it is a registered scheme.