- Our regulations provide members with a framework to ensure ethical behaviour.
- As members you’re expected to follow these regulations
The purpose of our Regulations
Our regulations are the nuts and bolts of what we expect and require from members. They’re based on instructions from the Board on how our By-Laws should be applied.
The core regulations apply to every member. In addition, depending on where you live and the type of work you do, there may be some specific regulations.
It’s important you have a working knowledge of all the regulations that apply to you and how they affect your day to day work.
Our current Regulations
There are currently nine Regulations approved by the Board.
Each one covers a different aspect of membership, conduct, expectations of members and how compliance is measured, monitored and responded to if it’s not met.
The CA ANZ Regulations are:
- Admission and Readmissions (CR1) - the requirements for admission including Provisional Membership, affiliate members and practice entity members, and re-admission.
- Certificates of Public Practice (CR2) - who should hold a CPP, the pre-requisites, expertise, when exemptions from holding a CPP apply and ongoing obligations for CPP holders.
- Professional Indemnity Insurance (CR2A) – covers the expected professional indemnity insurance requirements, including standards of insurance, liability capping and run-off cover.
- Public Practice Regulations (CR3) – sets out the expectations for managing a practice.
- Membership Subscription Fees (CR4) – sets out member subscription fees including practice entity members.
- Provisional Members (CR5) – although membership is covered in CR1, this sets out the expectations and obligations during a candidate’s period of provisional membership.
- Specialisations (CR6) - specifies the general framework for recognising specialisation in practice.
- Specialisation in Self Managed Superannuation Funds (CR6A) – specifies the specific requirements for this specialisation.
- Specialisation in Business Valuations (CR6B) - specifies the specific requirements for this specialisation.
- Specialisation in Financial Planning (CR6C) - specifies the specific requirements for this specialisation.
- Specialisation in Forensic Accounting (CR6D) - specifies the specific requirements for this specialisation.
- Continuing Professional Development (CR7) - sets out the continuing professional development (CPD) requirements for all members, including the minimum hours required for each designation, what constitutes different categories of CPD, monitoring compliance and the rules for managing non-compliance.
- Disciplinary Procedures (CR8) – sets out the detailed requirements on how professional misconduct is managed and members rights and responsibilities during the disciplinary process.
Further information on our Regulations are outlined in our Members' HandbookRead more
Updates to the Regulations
Unlike the By-Laws, the Board can change the Regulations without seeking member approval through voting.
The most recent changes were to CR 7 Continuing Professional Development. The changes require engagement partners conducting audits of public interest entities (PIEs) to make an assessment of their competencies in the areas of technical competence, professional skills and professional values, ethics and attitudes by 1 July 2019. The changes mirror those introduced in New Zealand in 2016 for auditors licensed under the New Zealand Auditor Regulation Act 2011.
The amendments incorporate the requirements of International Education Standard 8 Professional Competence for Engagement Partners Responsible for Audits of Financial Statements issued by the International Education Standards Board. Adoption of these standards is a requirement of CA ANZ's membership of the International Federation of Accountants.