{"id":"F2026L00352","name":"ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183","slug":"asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":107953,"registerId":"commonwealth-F2026L00352-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183","content":"![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183\n\nI, Claire LaBouchardiere, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\nDate 24 March 2026\n\nClaire LaBouchardiere\n\nContents\n\nPart 1—Preliminary 3\n\n1 Name of legislative instrument....................................3\n\n2 Commencement...............................................3\n\n3 Authority....................................................3\n\n4 Schedules....................................................3\n\n5 Simplified outline of this instrument...............................3\n\n6 Definitions...................................................3\n\nPart 2—Order and exemption 6\n\n7 Relief and exemption to enable rounding in a report...................6\n\n8 Relief and exemption from including nil amount items in a report........7\n\nPart 3—Savings and transitional 8\n\n9 Application of this instrument and ASIC Corporations Rounding in Financial/Directors’ Reports) Instrument 2016/191 8\n\nPart 4—Repeal 9\n\n10 Repeal.......................................................9\n\nSchedule 1—Repeals 10\n\nASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 10\n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2026/183.\n\n2 Commencement\n\nThis instrument commences on the later of:\n\n(a) the day after it is registered on the Federal Register of Legislation; and\n\n(b) 1 April 2026.\n\n> Note: The register may be accessed at www.legislation.gov.au.\n\n3 Authority\n\nThis instrument is made under subsections 341(1) and 992B(1) of the Corporations Act 2001.\n\n4 Schedules\n\nEach instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its term.\n\n5 Simplified outline of this instrument\n\n| This instrument contains exemptions from the financial reporting requirements in Parts 2M.3 and 7.8 of the Act to allow:(a) entities to round amounts disclosed in a directors’ report, a financial report and in financial statements for a financial services licensee; and(b) an item to be omitted from a financial report if the amount involved is nil.Various requirements apply in relation to the exemptions. |\n| ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n6 Definitions\n\n(1) In this instrument:\n\nAct means the Corporations Act 2001.\n\nalternative rounding factor means, in relation to a rounding factor, any of the following amounts which is less than the rounding factor:\n\n(a) 1/10th of 1 cent;\n\n(b) 1 cent;\n\n(c) $1;\n\n(d) $1,000;\n\n(e) $100,000.\n\neligible report means:\n\n(a) a financial report;\n\n(b) a directors’ report required by section 298 or section 302 of the Act;\n\n(c) a profit and loss statement and balance sheet required by section 989B of the Act.\n\nentity means any of the following:\n\n(a) a company;\n\n(b) a registered scheme;\n\n(c) a disclosing entity;\n\n(d) a financial services licensee;\n\n(e) a retail CCIV in relation to a sub-fund of the retail CCIV;\n\n(f) a registrable superannuation entity.\n\nrounding factor means, in relation to an amount that is required or permitted to be stated exactly in an eligible report:\n\n(a) $1,000, in relation to an entity with total assets in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet at the end of the relevant period of more than $1,000,000,000, in respect of the following:\n\n    (i) details, values and aggregates required to be disclosed in the directors’ report under paragraph 300(1)(g), subsections 300(8), (9), (11B) and (11C), paragraph 300(13)(a), paragraphs 300A(1)(c) and (1)(e) and subsections 300C(1), (4) and (6) of the Act;\n    (ii) amounts required to be disclosed under paragraph 50 of Accounting Standard AASB 2 Share-based Payment (AASB 2) or paragraph 168 of Accounting Standard AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities (AASB 1060);\n    (iii) remuneration of auditors required to be disclosed under paragraph 10 of Accounting Standard AASB 1054 Australian Additional Disclosures or paragraph 98 of AASB 1060;\n    (iv) compensation of key management personnel required to be disclosed under paragraph 17 of Accounting Standard AASB 124 Related Party Disclosures (AASB 124) or paragraph 194 of AASB 1060; and\n    (v) transactions between related parties required to be disclosed under paragraphs 18, 18A and 19 of AASB 124 or paragraphs 196, 198 and 199 of AASB 1060; and\n\n(b) 1/10th of 1 cent, in respect of amounts required to be disclosed in accordance with paragraphs 66 to 69 of Accounting Standard AASB 133 Earnings per Share; and\n\n(c) 1 cent, in relation to amounts required to be disclosed in accordance with paragraphs 44 and 46 of AASB 2, paragraph 164 of AASB 1060 and paragraphs 300(6)(c), (7)(d) and (7)(e) of the Act; and\n\n(d) $1, in relation to an entity with total assets in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet at the end of the relevant period of more than $10,000,000 but not more than $1,000,000,000, in respect of the items listed in subparagraphs (a)(i) to (v); and\n\n(e) $1, for all other purposes in relation to an entity with total assets in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet of less than $10,000,000; and\n\n(f) $1,000, for all other purposes in relation to an entity with total assets of more than $10,000,000 and not more than $1,000,000,000, in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet at the end of the relevant period; and\n\n(g) $100,000, for all other purposes in relation to an entity with total assets of more than $1,000,000,000 and not more than $10,000,000,000, in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet at the end of the relevant period; and\n\n(h) $1,000,000, for all other purposes in relation to an entity with total assets of more than $10,000,000,000, in its consolidated balance sheet or if it does not prepare a consolidated balance sheet, its own balance sheet at the end of the relevant period.\n\nPart 2—Order and exemption\n\n7 Relief and exemption to enable rounding in a report\n\n(1) An entity does not have to comply with Part 2M.3 and Part 7.8 of the Act to the extent that those Parts require amounts required or permitted to be set out in an eligible report for a financial year or half-year (each a relevant period) to be stated exactly.\n\nWhere the relief or exemption applies\n\n(2) The relief or exemption in subsection (1) may be relied on where all of the following apply:\n\n(a) the eligible report includes in substitution for an amount that would otherwise be required or permitted to be set out exactly:\n\n    (i) if the amount is half or less than half the rounding factor or alternative rounding factor—“nil” or the equivalent thereof; or\n    (ii) in any other case, the amount rounded up or down to the nearest whole number multiple of the rounding factor or alternative rounding factor;\n\n(b) where an alternative rounding factor is applied under subparagraph (a)(ii) instead of a rounding factor in relation to an amount, the alternative rounding factor is also applied in relation to every other amount in the eligible report for which the rounding factor is relevant;\n\n(c) where an amount is substituted under paragraph (a), the corresponding amount in respect of the comparative financial year or half-year is also shown in accordance with that paragraph;\n\n(d) where amounts are rounded to the nearest $100,000 in accordance with subparagraph (a)(ii), those amounts are presented in the form of a whole number of millions of dollars and one place of decimals representing hundreds of thousands of dollars, with a clear indication that the amounts are presented in millions of dollars (for example, in column headings or by placing the word “million” after the amounts);\n\n(e) none of the substitution or rounding of amounts in accordance with paragraphs (a) to (c) have the potential to adversely affect:\n\n    (i) decisions about the allocation of scarce resources made by users of the financial report (including consolidated financial statements, if any); or\n    (ii) the discharge of accountability by management or the directors of the relevant entity or in relation to the auditors;\n\n(f) the relevant eligible report states that the relevant entity is an entity to which this section applies and that amounts have been rounded off in accordance with this section;\n\n(g) the relevant eligible report clearly discloses on each page where amounts have been rounded the extent to which those amounts have been rounded.\n\n8 Relief and exemption from including nil amount items in a report\n\n(1) An entity does not have to comply with Part 2M.3 and Part 7.8 of the Act to the extent that those Parts require a financial report to include an item where the amount that would be shown against the item (including any comparative amount) would be nil.\n\n(2) The relief or exemption in subsection (1) may be relied on where the amount would be nil because it is covered by subparagraph 7(2)(a)(i) or otherwise.\n\n  \n\nPart 3—Savings and transitional\n\n9 Application of this instrument and ASIC Corporations Rounding in Financial/Directors’ Reports) Instrument 2016/191\n\n(1) Part 2 applies in relation to an eligible report for a financial year or a half year ending on or after 30 June 2026.\n\n(2) ASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191 as in force immediately before its repeal continues to apply, despite its repeal, in relation to an eligible report for a financial year or a half year ending before 30 June 2026.\n\n  \n\nPart 4—Repeal\n\n10 Repeal\n\nThis instrument is repealed at the start of 1 April 2031.\n\n  \n\nSchedule 1—Repeals\n\nASIC Corporations (Rounding in Financial/Directors’ Reports) Instrument 2016/191\n\n1 The whole of the instrument\n\nRepeal the instrument.","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"This instrument is a direct replacement of the 2016 instrument with substantially the same scope. It maintains the same core purpose (rounding relief) and applies to the same entity types. The structure and substantive provisions remain consistent with the original intent, with updates primarily reflecting changes to accounting standards and the addition of newer entity types (such as retail CCIVs) that have been introduced into the corporations framework since 2016."},"complexity_factors":["Multiple nested definitions: 'rounding factor' has 8 separate sub-paragraphs (a)-(h) with cross-references to specific accounting standards and Corporations Act sections","Conditional logic requiring simultaneous satisfaction of multiple criteria in section 7(2) (7 separate conditions labelled (a)-(g))","Cross-references to 6 different accounting standards (AASB 2, AASB 1060, AASB 1054, AASB 124, AASB 133) and multiple sections of the Corporations Act","Tiered asset thresholds creating 4 distinct entity size categories with different rounding rules","Alternative rounding factor mechanism creating parallel calculation paths","Transitional provisions creating overlapping application periods with the repealed 2016 instrument","Specific formatting requirements for $100,000 rounding (presentation in millions with one decimal place)","Defined terms section with 6 definitions including recursive definitions ('alternative rounding factor' defined by reference to 'rounding factor')"],"plain_english_summary":"This instrument lets Australian companies and certain financial entities round and omit zero line items in financial reports, using tiered rounding based on total assets (from nearest dollar for very small entities up to nearest $1 million for the biggest), with special rules for EPS and some disclosures. Rounding must be applied consistently, disclosed clearly, and not be misleading. It replaces the 2016 instrument and applies to financial years ending on or after 30 June 2026."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":true,"description":"This instrument repeals and replaces the 2016 rounding instrument for future reporting periods, preserving and restating relief while specifying updated rounding-factor tiers, alternative rounding factors, presentation and disclosure requirements, transitional saving for reports ending before 30 June 2026, and a sunset date (1 April 2031). The net scope remains relief for eligible reports but the instrument updates the mechanical rules and temporal coverage."},"complexity_factors":["Tiered rounding factor matrix linked to consolidated/own total asset thresholds (multiple monetary bands from cents to $1,000,000).","Allowance for specified alternative rounding factors and requirement to apply them consistently across the report (definition + 7(2)(b)).","Cross-references to many specific paragraphs of multiple Accounting Standards (AASB 2, AASB 124, AASB 133, AASB 1054, AASB 1060) which affect which amounts may be rounded and how.","Substantive conditional requirements to rely on the relief: simultaneous rounding of comparative amounts, per‑page disclosure of rounding, entity statement that relief applies, and specific presentation rules when rounding to $100,000 (clause 7(2)(c)–(g)).","Materiality safeguard test barring rounding where it could adversely affect resource-allocation decisions or accountability (clause 7(2)(e)), which creates a judgement for preparers/auditors.","Separate relief to omit items whose amount would be nil, linked back to the rounding rules (section 8).","Transitional application timing and phased continuity with the earlier 2016 instrument for reporting periods ending before 30 June 2026 (clause 9).","Sunset/repeal date (repealed at the start of 1 April 2031) limiting duration and requiring future legislative action or renewal."],"plain_english_summary":"This instrument lets companies, registered schemes, disclosing entities, financial services licensees, retail CCIV sub‑funds and registrable superannuation entities round many amounts in directors’ reports and financial reports (or omit items that would show nil) instead of stating exact figures. The stated purpose is to permit sensible rounding; mechanically it prescribes tiered rounding factors tied to entity size and sets conditions (comparatives, page notices, presentation in millions for certain rounding) that preparers must follow."}},"importantCases":[],"_links":{"self":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183","history":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183/history","analysis":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183/analysis","conflicts":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183/conflicts","importantCases":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183/important-cases","documents":"/api/acts/asic-corporations-rounding-in-financial-directors-reports-instrument-2026-183/documents"}}