On 15 October 2025, the Australian Securities and Investments Commission (ASIC) updated Regulatory Guide 260 Communicating findings from audit files to directors, audit committees or senior managers (RG 260).

Background

RG 260 provides practical guidance for directors, audit committees, and senior managers of companies, responsible entities, superannuation trustees, disclosing entities and audit firms by outlining ASIC’s approach to communicating financial reporting and audit quality findings from audit file reviews.

It details the financial reporting and audit quality findings identified from ASIC’s reviews of audit files that it would communicate to relevant directors, audit committees or senior managers. It also provides guidance on the process ASIC follows and the timing of its communications.

Update

This version of RG 260 supersedes the 2022 version.

RG 260 has been updated to reflect both ASIC’s new responsibilities and powers to regulate the financial reporting and audit requirements of registrable superannuation entities, and to allow ASIC to communicate findings from audit file reviews to the relevant directors of superannuation trustees.

Key sections

RG 260 provides guidance on:

• ASIC’s rationale for advising the relevant directors of its audit surveillances and the timing of this communication (Section B).

• ASIC’s rationale and criteria for communicating financial reporting and audit quality findings from its reviews of audit files to the relevant directors, audit committees or senior managers (Section C).

• The process ASIC will follow (including for meeting its procedural fairness obligations) and the timing of communicating financial reporting and audit quality findings to the relevant directors, audit committees or senior managers (Section D).