David Coleman (Banks, Liberal Party) Share this | Link to this | Hansard source

On behalf of the Parliamentary Joint Committee on Corporations and Financial Services I present the committee's report on the 2013-14 annual reports of bodies established under the ASIC Act, and I ask leave of the House to make a short statement in connection with the report.

Leave granted.

I rise to present a report by the Parliamentary Joint Committee on Corporations and Financial Services on the 2013-14 annual reports of bodies established under the Australian Securities and Investments Commission Act. Section 243 of the ASIC Act specifies the committee's duties, which include 'to examine each annual report that is prepared by a body established by' the ASIC Act. The report on the 2013-14 annual reports has been prepared in accordance with section 243 of the ASIC Act.

For this report, the committee examined the 2013-14 annual reports of the Auditing and Assurance Standards Board, the Australian Accounting Standards Board, the Australian Securities and Investments Commission, the Companies Auditors and Liquidators Disciplinary Board, the Corporations and Markets Advisory Committee, the Financial Reporting Council and the Takeovers Panel and held a number of hearings in relation to some of those reports. The committee considered the 2013-14 annual reports to be generally satisfactory and would like to thank the organisations for their implementation of the committee's previous recommendations and their cooperation with the committee's work. I would also like to extend the committee's thanks to the secretariat staff, who so ably assisted with these various matters. I commend this report to the House.