Global interest in Australia’s accounting inquiry

Global peak bodies are dipping their beaks into the Australian debate on accounting regulation with submissions to the parliamentary committee looking into ethics and professional accountability.

The Joint Parliamentary Committee on Corporations and Financial Services, chaired by senator Deborah O’Neill, has received submissions from the Public Interest Oversight Board (PIOB) and the International Ethics Standards Board for Accountants (IESBA).

Both bodies are linked to the accounting professional globally, with the work of the PIOB and the IESBA impacting directly on the ethical and auditing standards issued in Australia for accountants who are members of Chartered Accountants Australia and New Zealand, CPA Australia and the Institute of Public Accountants.