The Australian Securities & Investments Commission has reissued Regulatory Guide 34 Auditor obligations: Reporting to ASIC to consolidate and simplify its guidance on auditor breach notification and contravention reporting obligations, and to reflect changes to the law. The updated guide replaces the version issued in March 2020, with ASIC noting it has not made significant changes to its general policy on when auditors should report to ASIC. RG 34 now includes updated guidance on reporting suspected contraventions connected with sustainability reporting and audits of registrable superannuation entities, corporate collective investment vehicles (CCIVs) and compliance plans of retail CCIVs. It also covers reporting obligations relating to attempts to unduly influence, interfere with or mislead an auditor, conflict of interest and independence-related situations, and an auditor’s own suspected contraventions, alongside technical updates incorporating relevant ASIC guidance and correcting outdated references.
Australian Securities & Investments Commission 2025-09-18
Australian Securities & Investments Commission reissues Regulatory Guide 34 to update auditor breach notification and contravention reporting including sustainability reporting
The Australian Securities & Investments Commission (ASIC) has reissued Regulatory Guide 34 to simplify guidance on auditor breach notification and contravention reporting, reflecting legal changes. The updated guide includes new guidance on reporting suspected contraventions related to sustainability reporting, superannuation entities, and corporate collective investment vehicles. It also addresses obligations concerning attempts to influence auditors, conflicts of interest, and independence issues, alongside technical updates and corrections.