MEDIA RELEASE (AU)

Women make up just 11 per cent of registered liquidators and 17 per cent of registered trustees1, despite playing a significant role in Australia's business community. 

A cross-industry Working Group, including Chartered Accountants ANZ (CA ANZ) and eight professional accounting and insolvency bodies, has proposed two reforms aimed at addressing the profession's gender imbalance. 

The recommendations were presented to the Hon Dr Andrew Leigh MP and Treasury officials on 14 October 2026 and include: 

1. Extend the registration experience timeframe from five to seven years: Applicants must currently complete 4,000 hours of senior insolvency experience within five years. Extending the timeframe would provide greater flexibility for those taking career breaks or working reduced hours, strengthening the pipeline of future insolvency professionals and supporting greater participation by women. 
2. Introduce an Equitable Briefing Policy for insolvency appointments: Establish a voluntary benchmark for government bodies and their advisers to make reasonable endeavours to allocate 25 per cent of insolvency appointments to women, helping more women gain experience, build expertise and remain active in the profession. 

CA ANZ Group Executive, Policy and International, Geraldine Magarey, said business owners facing insolvency are often at one of the most vulnerable and stressful periods of their professional lives. 

“Australia has 660 registered liquidators. Just 70 of them are women. Women also make up only 17 per cent of registered trustees,” Ms Magarey said. 

“These reforms are about ensuring talented practitioners are not discouraged from pursuing or remaining in insolvency because of structural barriers that can disproportionately affect women. 

“A stronger, more diverse profession is ultimately good for practitioners, clients and the broader economy.” 

CA ANZ member Alice Ruhe FCA, Managing Principal of The Ruhe Group, and Registered Liquidator and Registered Trustee in Bankruptcy, praised the policy reforms.  

“These are welcome initiatives because they address both sides of the challenge,” Ms Ruhe said. “Together, these reforms will help more women achieve registration, gain experience and build lasting careers in insolvency.” 

“We've seen the benefits of initiatives introduced by the Australian Financial Security Authority (AFSA) to increase opportunities for women in the profession, and extending that approach is a practical and positive step forward.” 

CA ANZ member, Kiara Calvert, Partner of Hamilton Calvert Advisory, a Registered Liquidator and Trustee in Bankruptcy, also endorsed the proposed changes.  

“I have just returned from maternity leave, so I am particularly pleased to see these proposed changes,” Ms Calvert said. 

"Extending the senior-level experience requirement from five to seven years, alongside a 25 per cent target for female registered liquidator and trustee appointments, are important steps towards addressing the gender diversity gap in our profession.”

“A longer timeframe recognises that careers are not always linear, while greater access to appointments will help more women build and sustain successful careers in insolvency.” 

The Working Group consisted of the following industry bodies: 

1. Association of Independent Insolvency Practitioners (AIIP), 
2. Australian Restructuring Insolvency & Turnaround Association (ARITA),  
3. Chartered Accountants Australia and New Zealand (CA ANZ), 
4. CPA Australia (CPA), 
5. Institute of Public Accountants (IPA),  
6. Ladies Insolvency Professionals (LIPS),  
7. Turnaround Management Association Australia (TMA Australia), 
8. Women’s Insolvency Network Australia NSW (WINA),  
9. Women in Insolvency and Restructuring Victoria (WIRV).