The Australian Securities and Investments Commission (ASIC) has issued infringement notices to 22 large proprietary companies for allegedly failing to lodge audited financial reports on time for the 2025 financial year. All 22 companies paid their AUD 198,000 notices in full, bringing total payments to AUD 4,356,000. Payment does not constitute an admission of guilt or liability. Since surveillance focused on financial reporting compliance began in August 2025, ASIC has received payment for 70 infringement notices totalling more than AUD 13.7 million. In 2026, it contacted 234 companies, of which 193, or 82%, had allegedly failed to lodge financial reports for the 2025 financial year. Following those queries, 147 companies lodged one or more outstanding reports, while the remaining companies are in the process of doing so. Common explanations included audit issues, administrative oversight and insufficient resources, while some companies were unaware of their obligations. Investigations remain ongoing where companies have paid infringement notices but still have outstanding financial reporting obligations. Surveillance will continue into 2027. Directors are responsible for ensuring required reports are prepared, audited and lodged on time, and should regularly review their companies’ reporting obligations rather than wait for regulatory intervention.
ASIC issues AUD 4.356 million in infringement notices to 22 large proprietary companies for alleged late financial reporting
The Australian Securities and Investments Commission has issued AUD 4,356,000 in infringement notices to 22 large proprietary companies for allegedly lodging audited financial reports late for the 2025 financial year. All notices have been paid, which does not constitute an admission of guilt or liability. Surveillance will continue into 2027, with investigations ongoing where companies still have outstanding reporting obligations despite paying notices.