ASIC Corporations (Qualified Accountant) Instrument 2026/734

ASIC has remade the instrument that declares which professional body members count as qualified accountants for the purposes of section 88B of the Corporations Act 2001. ASIC Corporations (Qualified Accountant) Instrument 2026/734 replaces ASIC Corporations (Qualified Accountant) Instrument 2016/786, which was due to sunset on 1 October 2026, and continues the previous arrangements with minor drafting updates and refreshed names for eligible foreign professional bodies.

A qualified accountant's certificate is the document an accountant issues to confirm that an individual meets the net asset or income tests to be treated as a wholesale client or sophisticated investor under the Corporations Act, allowing that person to receive financial products and advice outside the retail client protections. The instrument lists the Australian and foreign professional accounting bodies whose members, once they meet the relevant membership classification, are recognised as qualified accountants able to issue these certificates.

ASIC consulted on the proposed remake on 15 July 2026 and received two submissions before settling the final drafting in CS 58. The instrument commenced the day after registration on the Federal Register of Legislation, and no change in substance has been made to who is eligible to issue certificates. Fund managers, advisers and accountants relying on existing certificates should note the instrument number and reference it in future compliance checks, since the earlier instrument it replaces will be repealed.