Date posted: 29/02/2024

Update on former member Peter John Collins

CA ANZ has written to the Finance and Public Administration Committees and the Parliamentary Joint Committee on Corporations and Financial Services to provide new information about the resignation of former member Peter John Collins.

Under our By-Laws (By-Law 40.3) members must disclose directly to the Professional Conduct Committee of CA ANZ when they are subject to disciplinary action (By-Law 40.2) either when they renew their membership each year, or when a finding has been made against them. There are formal channels members use for this disclosure, including a Notification Event Form, and guidance on this can be found here.

When a member formally discloses via these channels, or when other information is provided regarding a member’s conduct, a flag is placed on their record preventing their resignation.  

On 1 December 2022, Mr Collins’ resignation was accepted by CA ANZ. This was done so on the basis that there were no flags on his record. However, while Mr Collins did not disclose the TPB findings against him via the formal channels, new information has now come to light that he disclosed information about the TPB investigation in a resignation letter sent to a generic CA ANZ email address, which was then erroneously processed. 

The purpose of CA ANZ’s letter to the relevant parliamentary committees is to ensure they have the most accurate information available at all times, which has always been CA ANZ’s aim.   

As well as writing to the Committees, a full review and strengthening of the processes supporting resignations, is being undertaken to prevent a recurrence. 

It is important to also note the significant steps we have taken to ensure an effective response to the TPB findings against Mr Collins and PwC Australia. This includes putting a ‘stop resignation’ flag on all PwC Australia partners to ensure a fulsome and thorough investigation. PwC Australia were censured and fined by the Disciplinary Tribunal in late 2023 and the investigations of individuals involved is ongoing.

Last year CA ANZ members voted overwhelmingly in favour of changing its By-Laws to enable the implementation of important recommendations that came from the Professional Conduct Framework Review including the ability to investigate former members and making it abundantly clear how members should self-disclose.

CA ANZ is intently focused on ensuring its policies are followed at all times, and to ensure that the information provided to Parliament, our members and the community is accurate. A copy of the letter to the committees will be available on the Parliament website.

If you have a disciplinary matter to disclose CA ANZ reminds members to do so via the formal channels available to them. These articles can assist members:

Wrong doing has a long reach
The Mea Culpa effect: what you should self report