CA ANZ Unveils Five-Point Reform Plan for Audit Quality

Chartered Accountants Australia and New Zealand (CA ANZ) has proposed targeted reforms to strengthen accountability, oversight, and audit quality in the country's auditing profession.

The five-point reform plan aims to close regulatory gaps, improve governance, and protect whistleblowers. CA ANZ Chief Executive Officer Ainslie van Onselen emphasized that high-quality audit is fundamental to confidence in the economy.

According to CA ANZ, the reforms are designed to address genuine regulatory gaps and support better outcomes for investors, businesses, and the wider community. The plan includes requiring public interest entities to obtain audit services from firms licensed by ASIC, introducing an enforceable governance code for large audit firms, and giving ASIC the full regulatory toolkit.