Why do so many financial reporting risks only become obvious after ASIC starts asking questions? In this episode, Wayne Basford and Judith Leung share their 2026 financial reporting predictions and reflect on where the real risks are likely to emerge for preparers, auditors, and audit committees.

They discuss why mandatory climate reporting may be less dramatic than many expect, why audit quality and revenue recognition are firmly back on the regulator’s agenda, and how long-standing issues like agent versus principal continue to trip people up. The conversation also explores emerging pressure points in mining transactions, financial instruments, joint arrangements, and the changing audit market.

Whether you prepare financial statements, audit them, or oversee them at board or committee level, this episode helps you focus on the issues that are most likely to matter in 2026.

🎧 In this episode, you’ll learn:

• Why mandatory climate reporting may not deliver the surprises people expect
• Where ASIC scrutiny is most likely to intensify in 2026
• Why revenue recognition and agent vs principal judgments are resurfacing
• The accounting risks emerging from mining, financial instruments, and JVs

Financial Reporting Conversations is brought to you by Basford Consulting helping professionals go beyond compliance and get financial reporting right.

For technical insights, training, and resources that make the unknowns in financial reporting known, visit basfordconsulting.com

🔗 Connect with us:
LinkedIn: Wayne Basford & Judith Leung
YouTube: @BasfordConsulting
Website: basfordconsulting.com