Treasury Laws Amendment (Financial Reporting System Reform) Bill 2026

Dr MULINO (Fraser—Assistant Treasurer and Minister for Financial Services) (12:26): I move: That the amendments be agreed to. The bill establishes External Reporting Australia, or ERA, Australia's new body responsible for the development and maintenance of accounting auditing and assurance standards. In recent years, we've seen behaviour from large accounting, auditing and consulting firms in Australia that is not fair or honest.

This bill represents a major development in the setting and maintenance of standards. The amendments on which we seek the House's concurrence are all consistent with the policy intent of the bill. I commend the bill to the House.