The Australian Securities & Investments Commission has remade the legislative instrument specifying which members of approved professional bodies qualify as “qualified accountants” under the Corporations Act 2001. These accountants may issue certificates allowing a person to be treated as a wholesale client or sophisticated investor. The new instrument continues the arrangements in the 2016 instrument, which was due to sunset on Oct. 1, 2026. It makes only minor updates to drafting style and the names of foreign professional bodies, preserving the instrument’s substantive effect following ASIC’s July 2026 consultation.
2026-09-17Australian Securities & Investments Commission
Australian Securities & Investments Commission remakes qualified accountant instrument without substantive change
The Australian Securities & Investments Commission has remade the instrument determining which professional body members qualify as accountants who may certify wholesale clients or sophisticated investors. The new instrument preserves the existing arrangements, with only minor drafting and foreign professional body name updates.