Date posted: 15/09/2021 2 min read

Have your say: contribute to business reform submissions

Get involved in the conversations about anti-money laundering (AML), consumer data rights (CDR), e-Invoicing, insolvency, and environmental, social and governance (ESG) matters.

In brief

  • The CA ANZ Business reform team proactively engages with policy officials and responds to consultations on draft legislation, reports and advice in New Zealand, Australia and further beyond
  • The team encourage you to become involved and share your insights on the current focus areas and upcoming submissions.

Focus areas

Insolvent trading safe harbour

The intent of safe harbour from insolvent trading is to encourage directors to develop and action a restructure of a viable business where the outcome would be better than placing that business into external administration. Treasury are seeking to quantify how often this safe harbor is utilized and what impacts a restructure in this context being successful.

Members, if you have entered safe harbour, or supported a client to enter safe harbour, we would value hearing: 

  • what your role in the process was;
  • if the restructure was successful; and
  • what changes you consider may make safe harbour accessible to more directors.

To provide feedback, connect with the Business Reform team before September 22nd, 2021.

Contact Business Reform team

Review of insolvent trading safe harbor

The Treasury page for the consultation

Read more

Insolvency and restructuring

What role can a Chartered Accountant play in insolvency and restructuring?


AML

In Australia, a Senate Committee is undertaking an inquiry into the effectiveness of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF) and considering how the obligations under the Act could be expanded to accountants in public practice. 

We need your input to help build a picture: 

  • What process do you follow when seeking to engage a new client?
  • How do verify the identity of the responsible individual(s) for a corporation or a trust? 
  • What, if any, identity documents do you keep on file? 

For members that already have AML/CTF processes in place: 

  • What is the cost and time required to meet obligations under the legislation? 

The adequacy and efficacy of Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime

Main page for accessing the consultation Terms of reference.

Read more

Previous submission on AML/CTF Extensions

CA ANZ feedback to the model for regulation under Australia’s anti-money laundering and counter-terrorism financing regime

View submission

e-Invoicing

The Australian Government is encouraging businesses to adopt e-Invoicing practices and is currently in the process of developing a wide range of resources aimed at supporting businesses and accountants.  

In preparation for the next round of consultations and continued discussions with Government, we are seeking member feedback to help us compile a list of case studies to demonstrate the benefits of, and barriers to adoption of, e-Invoicing

CA ANZ has provided feedback to Treasury’s recent consultation on the consideration of mandatory adoption of e-Invoicing in Australia. 

Read Submission