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Analysis:
Analysis
29 Jun 2023
5 minute read

Superannuation entity model financial report

Financial reporting periods ending on or after 30 June 2024

Achieving best practice outcomes in superannuation entity financial reporting under the Corporations Act 2001

Alison White
Fiona O’Keefe
Vimbai Mhlanga
June 2024 model superannuation entity financial report
5 MB PDF


Bringing registrable superannuation entities into the scope of the financial reporting requirements of the Corporations Act 2001 for financial years ending 30 June 2024 onwards represents a significant change for superannuation funds, but also provides opportunities.

The new financial reporting requirements for superannuation entities are a timely opportunity to revisit their overall communication with members. Instead of seeing the new requirements as a compliance exercise, superannuation funds can revisit the content of their financial reporting, making it more relevant, focused on critical information, and understandable for members and potential members.

Superannuation funds can respond to this new environment by:

  • Understanding the new requirements in practical terms, particularly new legal requirements for a directors’ report (including an audited remuneration report)
  • Planning early for both financial reporting and climate-related financial disclosure requirements
  • Identifying and addressing resourcing and knowledge gaps
  • Focusing on member information needs and seeing corporate reporting as an integral part of communication and dialogue with them.

Note: This publication was originally issued in June 2023 and updated in April 2024 to reflect developments since its original publication.

Download the publication to read more.

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Alison White

Deloitte - Australia
Alison is the leader of the Accounting & Corporate Reporting team in Deloitte’s Audit and Assurance division. She has over 25 years’ audit and accounting advisory experience in Australia, Hong Kong and South Africa, specialising in the resolution of complex accounting issues. Alison served as a member of the Australian Accounting Standards Board (AASB) and has recently completed her six-year term as the deputy chair. She is also a member of the Fair Value and Business Combinations Project Advisory Panels of the AASB. She is also a member of the Deloitte Global Expert Advisory Panel on Leases and the Property Council of Australia’s National Accounting Roundtable. Areas of specialist expertise include leasing and off-balance sheet structures, revenue recognition, impairment of assets, mergers and acquisitions and asset sale transactions.
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Fiona O’Keefe

Deloitte - Australia
Fiona is a Partner in Deloitte’s Audit & Assurance Financial Services Group. Fiona focuses on the wealth management sector with a deep expertise in superannuation assurance and advisory.
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Vimbai Mhlanga

Deloitte - Australia
Vimbai is a highly experienced financial services partner with a core focus in wealth management and superannuation. She has over 15 years of experience working with Australia’s largest superannuation funds.
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