The corporate regulator has given unlisted companies a month longer to report their financial results as a rise in COVID-19 cases adds to a shortage of auditors.
The corporate regulator has given unlisted companies a month longer to report financial results amid an industry-wide shortage of auditors, a situation exacerbated by a winter surge in COVID-19 cases.
The extension – for unlisted companies with a year-end between June 23 and July 7 – is the fifth time the Australian Securities and Investments Commission has eased rules around company since the pandemic began. “ASIC recognises that company and audit firms may have reduced staff numbers due to varying travel restrictions and increased staff resignations in the last two years,” the commission said in a statement on Friday.