MEDIA STATEMENT (AU)

CA ANZ welcomes the Australian Securities and Investments Commission (ASIC) investigation into how major accounting firms handle internal complaints and whistleblower matters.

ASIC will use “compulsory information gathering” powers to compel large firms to provide documents relating to their treatment of internal complaints. This follows news earlier this week that the Tax Practitioners Board (TPB) has also formalised its investigations.

As we said in this media statement issued on 1 July 2026, recent events have reinforced the value of a well-coordinated regulatory framework in which professional bodies, ASIC, the Tax Practitioners Board and other oversight bodies each play an important and complementary role.

These developments are also consistent with reforms CA ANZ has repeatedly urged the Parliamentary Joint Committee into Corporations and Financial Services, and the Government, to implement as outlined in our first Going Further roadmap and most recently in our written statement to the Committee.

CA ANZ has repeatedly called for stronger whistleblower protections, enhanced transparency and governance within large professional services firms, and clarification of ASIC’s jurisdiction to regulate audit firms at a firm-wide level.

The role of CA ANZ

On 29 May, CA ANZ confirmed publicly that the independent PCC had commenced investigations into the allegations raised in Parliament on 24 March 2026.

On 11 June we also confirmed that the CEO had exercised powers available under our By-laws to direct targeted Quality Practice Reviews of KPMG Australia and other major firms, examining how they handle confidential information and promote ethical culture.

As CEO Ainslie van Onselen told the Parliamentary Joint Committee on Corporations and Financial Services, these allegations "strike at the heart of trust in audit."

CA ANZ’s investigations and Quality Practice Reviews will continue in parallel with the ASIC and TPB investigations. However, given the broader statutory powers available to ASIC and the TPB, aspects of CA ANZ’s inquiries may need to take account of relevant findings, evidence or conclusions arising from those processes.

If ASIC investigates individuals for potential breaches of whistleblower laws or related policies, this may affect the timing and progress of CA ANZ's investigations. It is appropriate that these higher order regulatory processes are given the time required to play out.