ASIC Corporations (Auditing) Instrument 2026/469

ASIC Corporations (Auditing) Instrument 2026/469 addresses specific auditing requirements under the Corporations Act 2001. Registered as F2026L01229, it combines conditional relief concerning auditor independence declarations, audit exemptions for certain proprietary companies, and notification requirements for retail corporate collective investment vehicles, or CCIVs.

One part provides limited relief from disclosing certain contraventions concerning financial interests in an auditor’s independence declaration. The relief depends on detailed requirements, including the nature and value of the interest, disposal within the specified period, written confirmations, a report to directors and a directors’ resolution. It is not a general relaxation of auditor independence or permission to retain a conflicting interest.

Another part confirms that the corporate director of a retail CCIV must lodge an approved notice with ASIC within 14 days of appointing an auditor. Separate provisions allow certain large proprietary companies and small foreign-controlled proprietary companies to obtain relief from specified audit requirements where the eligibility requirements and conditions are satisfied.

The instrument commences the day after registration, repeals earlier instruments and includes savings and transitional provisions. Its significance is therefore more specific than a broad reduction in audit obligations: different provisions apply to different entities and circumstances, and the conditions remain central to any reliance on relief.