The Australian Securities & Investments Commission has launched a consultation on remaking its legislative instrument on qualified accountants, concluding that the current regime remains a necessary and useful part of the framework. The existing instrument is due to expire on 1 October 2026, and ASIC proposes to remake it for 10 years with only minor amendments for clarity and consistency, while keeping its effect unchanged. The instrument specifies which professional bodies have members who can be recognised as qualified accountants under the Corporations Act 2001. Those qualified accountants can issue certificates that allow a person to be treated as a wholesale client or sophisticated investor for the purposes of sections 708(8)(c) and 761G(7)(c) of the Act.
Australian Securities & Investments Commission2026-07-15
Australian Securities & Investments Commission consults on remaking qualified accountant instrument for 10 years with no substantive change
The Australian Securities & Investments Commission is consulting on remaking its qualified accountant instrument for 10 years. ASIC said the current instrument remains necessary and useful, and the remake would make only minor clarifying amendments without changing its effect. The instrument determines which professional body members can act as qualified accountants for wholesale client and sophisticated investor certification under the Corporations Act 2001.