As our CEO Ainslie van Onselen mentioned in her column, CA ANZ is shaping important discussions about the future regulation of audit firms. In August, we provided Treasury with our five-point reform plan to strengthen accountability, oversight and audit quality across Australia’s auditing profession, while ensuring reforms remain targeted, proportionate and carefully scoped so smaller practices and entities are not caught by requirements designed for the largest firms.

Consistent with our longstanding advocacy on whistleblower protections, we also lodged a submission to the Treasury review of tax and corporate whistleblowing in Australia, calling for an independent whistleblower agency, improved access to remedies, and reforms to address gaps affecting large audit and professional services firms.

And, in September, we launched a landmark report CA ANZ commissioned from Oxford Economics Australia to examine two questions: what does accounting contribute to Australia’s economy today and whether Australia will have the accounting capability it needs in the decade ahead. The report found the profession is a critical component of Australia’s economic infrastructure, adding A$82.4 billion to the economy each year, equivalent to around 3% of GDP, and supporting more than 365,000 jobs.

It also projects a shortfall of 17,900 accounting, audit and finance professionals by 2035, concentrated in junior and intermediate experience levels, in external audit, finance and tax. If left unaddressed, these shortages create significant risks to Australia’s productivity, economic resilience, tax and public revenue systems, market confidence and long-term prosperity.

These findings will help strengthen our advocacy with governments and policymakers for coordinated action to build the skilled, adaptable and sustainable accounting workforce Australia needs.

We also noted the establishment of External Reporting Australia (ERA), which brings Australia’s accounting, audit and sustainability standard-setting functions together in a single body and advances several reforms CA ANZ has long advocated for. While we support measures to protect independence, we remain disappointed that experienced registered company auditors (RCAs) from firms with more than 50 RCA partners are excluded from participation, limiting access to some of the profession’s most experienced technical experts.

A big thank you to Victorian members who participated in our recent survey to help inform CA ANZ’s advocacy priorities ahead of the November state election. Victoria is Australia’s second-largest economy, and the decisions taken by the next government will have significant implications for nationwide productivity, investment and business confidence. Your feedback is helping us develop practical policy insights to support a more innovative, competitive and fiscally sustainable economy.

Finally, one of the most rewarding aspects of my role remains connecting directly with members. In addition to joining Ainslie at CEO Connect in Melbourne, in recent months we have spent time with our vibrant UK member community. We were able to discuss the valuable contribution our members make with the new Australian High Commissioner to the UK, His Excellency the Honourable Jay Weatherill AO, and I joined discussions with members and stakeholders at a sustainability roundtable. These conversations reinforce the profession’s global reach and the valuable role you play helping organisations navigate economic, technological and sustainability challenges.

Thank you for your ongoing engagement, insights and support. They strengthen our advocacy and help ensure CA ANZ remains a trusted voice for the profession.