Isla Fisher stuns in a plunging green gown as she poses with Naomi Watts after honouring her with a coveted prize at the Australians in Film Awards in LA

Isla Fisher and Naomi Watts looked absolutely gorgeous as they led the red carpet arrivals for this year's Australians in Film Awards in Los Angeles on Wednesday night. 

Oman born actress Isla, 43 - who moved to Australia at the age of six - looked flawless in a perilously plunging green Alexia Maria FW/19 'Suzette' gown as she stepped out to celebrate the 8th annual awards gala at the InterContinental Hotel. 

Featuring statement frilly sleeves and a bow just beneath her bust, the Confessions of a Shopaholic star flaunted her gorgeous figure in the floor-length gown.

The wife of Sacha Baron Cohen, with whom she has three children, wore her red hair over one shoulder in flawless curls, while she accessorised her look with green jewel earrings.

Living up to her beauty icon status, Isla paired her bold dress with a gorgeous berry lip and shimmering smokey eye shadow. 

British actress Naomi, who made her film debut in the 1986 Australian drama For Love Alone, opted for a flowery, maxi dress with ruched sleeves.

The 51-year-old star accessorised the floor-length frock with a diamond bracelet and a rainbow-coloured clutch.  

Naomi wore her glossy, blonde locks straight in an elegant bob. Her make-up was kept natural and light to enhance the dramatic pop of colour on her lips.

Proving that they were the very best of friends, Isla and Naomi barely left each other's side as they happily posed for photographs. 

It was a big night for Naomi, as she was honoured with the coveted Orry-Kelly Award (named after Oscar-winning Hollywood costume designer Orry Kelly) which recognised an individual whose career in entertainment has contributed to the national identity of Australia.

Naomi, who has starred in critically acclaimed films such as The Impossible, Brides of Christ and Mulholland Drive, was presented with the award by Isla. 

Speaking at the awards, a thrilled Naomi said: 'Acknowledgement... it is human nature to create that and want that, and as much as we say, oh no, we don’t need that, and I do say that and I have said that, but when you’re out there and you’re receiving it, it does feel nice.'

Confessing that she didn't expect for her career to take off in the manner that it did, Naomi continued: 'I knew I loved what I did, I loved the job of being an actor, but I didn’t think it would go this far. It does feel like a very long career at this point and I am grateful that the invitation is still there.'

The prestigious Australians in Film Awards in LA honours the country's most talented figures in the entertainment industry who have made a name for themselves both at home and overseas.

And one of them is The Meg star Ruby Rose, who also arrived in style. 

Orange Is The New Black star Ruby, 33, made a glittering appearance in a bedazzled black suit jacket with harem-style pants.

Styling her hair in her trademark quiff, Ruby went for a smart and sophisticated look. The Batwoman actress opted for dewy make-up, enhancing her cheek bones with a touch of rosy pink blusher.   

Australian actress Sarah Snook was another famous face gracing the red carpet.

The 31-year-old Succession star wore a daring black frock which showed off her ample cleavage.

The elegant sheer gown featured diagonal stripes of black beading to cover her modesty and enhance her envious figure.

She styled her shoulder-length auburn hair in a long bob and slicked a dramatic red shade on her lips.  

But it wasn't just the ladies getting dressed up to the nines for Wednesday's event.

Brotherhood star Jason Clarke, 50, cut a sharp figure on the red carpet in his classic black tuxedo.

He wore a crisp white shirt and bow tie, with freshly shined black shoes.