CPA Australia calls for ‘practical and proportionate’ financial abuse safeguards

Belinda Zohrab-McConnell, CPA Australia’s regulations and standards lead, discusses CPA Australia’s support for Treasury proposals to curb financial abuse through coerced directorships, including consent safeguards, insolvency duty defences, and extended director penalty notice timeframes, while warning that reforms must be practical and proportionate for accountants, avoid new reporting or assessment burdens that create safety and cost risks, preserve creditor and ATO recovery rights, and focus on education and ASIC-led accountability for perpetrators rather than enforcement-heavy obligations on professionals.

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