Australia Financial Reporting Change Too Risky, Accountants Warn

Raising the required revenue thresholds for companies to file Australian financial reports poses “unacceptable” risks, a major professional accounting body warned Monday.

In its 2026-27 budget plan, the Albanese government proposed increasing reporting thresholds to A$100 million ($71 million) from A$50 million for revenue and to A$50 million from A$25 million for gross assets.

That means companies earning less than the two thresholds would no longer have to lodge audited financial statements, directors’ reports, or climate-related financial reports with the Australian Securities and Investment Commission.

“Doubling thresholds overnight, without consultation or economic modelling, is an unacceptable risk to Australia’s mid-market,” ...