Your public company now needs a ‘consolidated entity disclosure statement'

October 28, 2024

Running an Australian public company? It’s now mandatory for you to submit a consolidated entity disclosure statement (CEDS) with your annual financial report. We’ve got the lowdown.

Public companies must now submit a ‘consolidated entity disclosure statement’ on an annual basis, giving details of all entities within your listed or unlisted company.


As announced by the Treasury on 5 July 2024, ‘as part of the Australian Government’s focus on tax integrity and transparency, all public companies (that is, companies which are open to investment by the public) are now required to include a ‘consolidated entity disclosure statement’ in their annual financial reports’.


What’s required in this consolidated entity disclosure statement.


As of July 2024, all Australian public companies must now submit a consolidated entity disclosure statement (CEDS) along with their annual financial report. 


The Corporations Act has been amended, in line with the new Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Act 2024. This amendment now requires both listed and unlisted Australian public companies to disclose information about subsidiaries in the company’s annual financial reports.


The requirement for a CEDS statement applies to each financial year commencing on or after 1 July 2023, so applied for the first time on 30 June 2024. 


An Australian public company’s annual financial report must now include a CEDS statement, which either:

  1. Discloses details of each entity within the company’s consolidated group, if the accounting standards require the company to prepare consolidated financial statements, or
  2. If the accounting standards do not require the company to prepare consolidated financial statements, a statement to that effect.


Talk to us about complying with the CEDS requirements


You can find out more detail on the requirements of a consolidated entity disclosure statement in this statement from the Australian Securities & Investments Commission (ASIC).


If you’re concerned about the impact of CEDS for your public company, please do contact us. We’ll be happy to run you through the new requirements and the additional information that will be required in your next annual financial report.


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