CA ANZ Professional Standards Scheme approved

3 March 2025 update

CA ANZ is pleased to announce the approval of a new Professional Standards Scheme. The new scheme will commence on 13 July 2025, for a duration of five years and enables CA ANZ members who hold an Australian Certificate of Public Practice, Affiliate Membership or Practice Entity Membership to benefit from an occupational liability cap. The new scheme is consistent with the current scheme and applies in all Australian states and territories.

The scheme gives the public confidence that Chartered Accountants are being held to the highest standards, across regulation, education and ethics, by their membership body.

Now is a good time to reacquaint yourself with the way the scheme operates and your obligations if you are a scheme participant to ensure you can benefit from the liability cap provided by the scheme, if needed. For more information click here.

CA ANZ Professional Standards Scheme - have your say and show your support

16 January 2025 update

On 11 December 2024, the Professional Standards Council (PSC) publicly notified our proposed Professional Standards Scheme (Scheme). The PSC uses this process to seek comments and submissions in relation to our proposed Scheme from interested stakeholders, including CA ANZ members. You can provide feedback in two ways:

1. By completing the PSC’s brief seven question online survey; or
2. Making a written submission anduploading it online. To assist you with making a written submission we have prepared the draft letter below which you may wish to use to express your support of our application.

Submissions close on 5 February 2025.

At the end of the submission period the PSC will consider all feedback received and decide whether to approve our new Scheme or not. We will advise all members of the PSC’s decision as soon as it is made in March or April 2025.

11 December 2024 update

We have achieved an important milestone in our 2025-2030 Scheme Application process. On 6 December 2024 the Professional Standards Council (PSC) approved the progression of our application to public consultation. Learn more about our proposed scheme and how it will operate for our members and their clients. Our application process is progressing to plan. Subject to resolving any comments received during the public consultation process, we anticipate the PSC will be able to approve our scheme in early 2025. The proposed scheme is consistent with the current CA ANZ scheme.

23 August 2023 update

In July 2023, the Professional Standards Council (PSC) advised CA ANZ that the commencement date for our current Professional Standards Scheme (Scheme) was 13 July 2019 not 8 October 2019, as previously understood. This is because the commencement date was triggered by the date our Scheme was gazetted, being 12 July 2019. Members can be reassured there is no gap in Scheme coverage as a result of this changed date. CA ANZ is intending to seek approval for a one-year extension of our current Scheme to July 2025 to allow us to work with the PSC to progress a re-make of our Scheme to July 2030. We continue to have a positive and respectful relationship with the PSC and the staff of the Professional Standards Authority and are not aware of any impediments to both the extension and Scheme re-make being approved in due course.