Regulation of accounting, auditing and consulting firms in Australia

Provide feedback on options to improve the regulation of accounting, auditing and consulting firms in Australia.

Your feedback will help inform the government’s consideration of future audit regulation.

Why this matters

High-quality audit services are vital to the proper functioning of the Australian economy.

They help build public trust, support investment and ensure financial markets operate effectively.

The proposed options support:

• the drivers of audit quality

• enforceable ethical standards

• auditor independence

• audit surveillance and stronger penalties

• the resilience of regulatory frameworks

• confidence and dynamism in Australia’s audit market.

Previous consultation

This options paper builds on the government’s earlier consultation, Response to PwC – regulation of accounting, auditing and consulting firms in Australia.

The consultation ran from 3 May 2024 to 28 June 2024.

Non-confidential submissions from that consultation are available on the Treasury consultation hub.