The Australian Securities and Investments Commission has published a reporting and audit update covering its review of the first mandatory sustainability reports, revised legislative instruments and enforcement activity. The review found that climate related financial information had become more detailed and consistent under the statutory regime, while identifying further work on links to financial statements, quantitative financial effects and the assessment of risks and opportunities across value chains. Eight action items build on ASIC’s earlier observations and are supported by examples of more and less effective disclosure practices and a completed sustainability reporting education package. ASIC also made four legislative instruments to replace 19 instruments due to sunset, including two that consolidate 17 instruments covering reporting and audit relief. The instruments largely preserve existing relief while improving drafting and accessibility. Separately, ASIC’s surveillance of late and missing financial reports has resulted in 27 infringement notices totaling more than AUD 5 million since August 2025, including AUD 596,000 paid by three fashion and beauty retailers and AUD 594,000 paid by three Mainfreight Group companies. Audit and sustainability claims remain enforcement priorities. ASIC has begun surveillance of internal complaints and audit related conduct at the Big Four firms, while reminding registered company auditors of their independence, conflict and breach reporting obligations. Its greenwashing work included a AUD 7.3 million court penalty against Fiducian Investment Management Services and supervisory interventions that led seven entities to amend, remove, qualify or expand sustainability related claims in fundraising documents. ASIC also added decisions and a key issues taxonomy to its sustainability reporting relief register to help entities assess comparable cases and apply before statutory deadlines.

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