5a) Using online research, identify and explain key provisions of Australian legislation, regulations, standards, or codes of practice that are relevant to the preparation of financial reports.

Specifically, focus on the provisions outlined in the Corporations Act 2001 and the Australian Accounting Standards (AASBs). Cite all sources of information.

HINT

The following websites provide access to information related to key provisions of the Corporations Act 2001 and Australian Accounting Standards (AASBs).

• Australian Securities and Investments Commission (ASIC) website: https://asic.gov.au
• Australian Accounting Standards Board (AASB) website: https://aasb.gov.au
• Australian Government's Federal Register of Legislation: https://www.legislation.gov.au

Professional accounting bodies' websites:

• CPA Australia: https://www.cpaaustralia.com.au
• Chartered Accountants Australia & New Zealand (CA ANZ): https://www.charteredaccountantsanz.com
• Institute of Public Accountants (IPA):

5b) How does the ASIC Regulatory Guide 85 (Reporting requirements for non-reporting entities) assist in the preparation of financial reports? Explain its relevance.

5c) Explain how the Australian Code of Ethics for Professional Accountants is relevant to the preparation of financial reports in Australia