Regulation of accounting, auditing and consulting firms in Australia

Treasury's consultation on the regulation of accounting, auditing and consulting firms in Australia, referenced c2026-781711, examines how these firms, including their partnership structures and accountability arrangements, should be regulated going forward. The consultation follows an earlier May 2024 Treasury consultation paper issued in response to the PricewaterhouseCoopers matter, which canvassed a range of issues concerning the governance and oversight of large professional partnerships. Treasury's consultations-by-topic page lists this later 2026 consultation as running from July to August 2026, and Treasury released an accompanying options paper in July 2026 setting out policy options for reform.

Treasury has previously indicated it intends to publish non-confidential submissions alongside release of its options paper, reflecting the ongoing public interest in this area following the 2024 consultation process, which drew 36 written submissions and extensive stakeholder engagement including large accounting and consulting firms, mid-tier and smaller organisations, professional bodies and regulators.

The specific policy options under consideration in the 2026 options paper, including whether any proposed accountability or structural changes would extend beyond accounting and auditing firms to other professional partnership structures, are not fully confirmed from the material reviewed, and businesses should obtain and review the options paper directly before assuming any particular reform direction. No legislative change has yet been announced as a result of this consultation.