The corporate regulator has collected more than $4.3 million from 22 large proprietary companies that allegedly failed to lodge their audited financial reports for the 2025 financial year on time, and says directors should not wait for ASIC to come knocking.

The notices

ASIC announced on 4 November that it had issued infringement notices of $198,000 each to the 22 companies, totalling $4,356,000, and that all had paid in full. Payment of an infringement notice does not constitute an admission of guilt or liability. ASIC said its investigation remains ongoing where companies have paid but still have outstanding reporting obligations.

The companies span retail, hospitality, construction, property development, technology and finance. They include Bizcap AU Pty Ltd (non-bank lending), Think Tank Group Pty Limited (commercial and residential property finance), Hemmes Group Pty Limited (hospitality), Ingram Micro Holdings (Australia) Pty Limited (information technology), Menzies Aviation Holdings (Australia) Pty Ltd (airport services), Pernod Ricard Pacific Holding Pty Ltd (champagne and spirits), Prouds Jewellers Pty Ltd, Spendless Shoes Pty Ltd, Coral Homes Pty Ltd and Winslow Constructors Pty Ltd, among others named in ASIC’s release.

The bigger campaign

Since starting its data-focused surveillance of large proprietary companies and other entities in August 2025, ASIC says it has received payment for 70 infringement notices totalling more than $13.7 million. Earlier rounds have involved companies linked to Mecca, Canva, Zara, H&M, Sephora, Mainfreight and Visy/Pratt.

In 2026, ASIC engaged with 234 companies. Of those, 193 (82%) had allegedly failed to lodge reports for the 2025 financial year, and 147 have since lodged one or more outstanding reports. Common reasons given included audit-related issues, administrative oversight and inadequate resources. ASIC said that, concerningly, some companies were unaware of their obligation until it contacted them.

“Our enforcement actions over the past year sends a clear message – companies must meet their financial reporting obligations and should not assume that non-compliance will go undetected. We will continue our data-focused surveillance into 2027 and will not hesitate to take further enforcement action,” ASIC Commissioner Kate O’Rourke said.

“Directors are accountable for ensuring their company meets its financial reporting obligations. We call on directors to regularly review those obligations and ensure required reports are prepared, audited and lodged on time, without waiting for ASIC to intervene,” she said.

The rules

Large proprietary companies, foreign-controlled companies, public companies and several other types of entity must lodge financial reports. Most must lodge their annual financial report, directors’ report and auditor’s report within four months of their financial year end, while disclosing entities, registered schemes and registrable superannuation entities have three months. ASIC says entities should review their obligations whenever their size, structure, ownership or operations change, as growth can bring a company into the large proprietary category.

Why it matters

For lenders, suppliers and creditors, lodged accounts are a key source of information about a counterparty’s financial position. For directors of fast-growing private companies, the message is that lodgement deadlines are being monitored with data, and late accounts carry a cost.

Sources: ASIC media release 26-268MR, “ASIC issues over $4.3 million in infringement notices to 22 companies for alleged failure to lodge financial reports” (4 November 2026); Gilbert + Tobin, Boardroom Brief (week commencing 9 November 2026).

This article is general information only and is not legal advice. Readers should seek advice specific to their circumstances.