Australia: Financial Accountability Regime

by Lucy Webb

Part of a series on 2024-25 Australian Updates. This short course introduces the Financial Accountability Regime, which aims to improve accountability for institutions across the banking, insurance and superannuation sectors.

This module will enable you to

  • Identify accountable entities for the purposes of FAR
  • Recognise who can qualify as an accountable person
  • Discuss the differences between core and enhanced entities when it comes to notification obligations
  • Outline how the regulators will approach administration of the regime

About the module

This short course takes a closer look at the Financial Accountability Regime (FAR), explaining how to go about identifying accountable entities and accountable persons, and understanding the notification obligations that must be followed under the regime.

The transition from the Banking Executive Accountability Regime includes a number of differences and entities are expected to take these into account and make the switch to the FAR as quickly as possible.

Contents

  • The Financial Accountability Regime

How it works

Author

Lucy Webb

Lucy is a chartered accountant (ACA) and chartered tax adviser (CTA). She gained her experience in practice at Deloitte, working for multinational clients as well as clients within the asset management industry.

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