The Australian Securities & Investments Commission has remade the legislative instrument that determines which members of approved professional bodies are recognised 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 preserves the existing arrangements, with only minor drafting updates and revisions to the names of foreign professional bodies. It replaces the 2016 instrument that was due to sunset on Oct. 1, 2026, following a consultation that received two submissions.
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 identifying professional body members who may certify wholesale clients or sophisticated investors as qualified accountants. The existing arrangements remain substantively unchanged, with only minor drafting and foreign professional body name updates.