ASIC’s 2025–26 Focus: Revenue, Valuations & Provisions

05/10/2025 08:40 PM

ASIC’s 2025–26 Focus: Revenue, Valuations & Provisions

When it comes to financial reporting, the most complex areas are often the most scrutinised. For the 2025–26 financial year, the Australian Securities and Investments Commission (ASIC) has announced its surveillance priorities: revenue recognition, asset valuations, and provisions.

Revenue recognition has long been a challenge, especially with complex contracts and performance obligations. Misclassification or overstatement of income remains a high-risk issue. Asset valuations, particularly for goodwill, property, and financial instruments, will also face tighter reviews. With economic uncertainty, interest rate movements, and shifting market conditions, management assumptions must be tested more thoroughly. Provisions—such as those for litigation, restructuring, or warranties—are another focus, given their reliance on forward-looking judgments.

For businesses, this means disclosures must be transparent and specific. Boilerplate language will not satisfy regulators. Auditors will be expected to challenge management assumptions rigorously and ensure working papers are well documented. Failure to meet these expectations could result in enforcement actions, reputational harm, or even penalties.

The takeaway for business leaders is clear: engage with auditors early, ensure assumptions are reasonable, and prepare detailed documentation to support financial reporting.

Talk to RBizz Corporate Accountants about strengthening your reporting processes for ASIC’s 2025–26 priorities.

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