Submissions
1
Institute of Certified Management Accountants
2
Chartered Accountants Australia and New Zealand
2.1 Supplementary to submission 2
6.1 Supplementary to submission 6
6.2 Supplementary to submission 6
8
Adjunct Professor Michael West
9
Bentleys Australia and New Zealand
13
Professor Michael Bradbury and Associate Professor Bryan Howieson
16
Australian Securities & Investments Commission (ASIC)
17
Institute of Internal Auditors-Australia
19
Australian Charities and Not-for-profits Commission (ACNC)
20
Australian Prudential Regulation Authority (APRA)
21
Nyenrode Business University
22
Australian Auditing and Assurance Standards Board (AUASB)
23
Dr Paul Nicoll
• Response from the Department of Defence (received 24 September 2019)
24
Financial Reporting Council (FRC)
25
Dr Max Bessell, Dr Lisa Powell, Prof Paul Coram, Prof Christopher Symes
30
Grant Thornton Australia Limited
32
Australian Accounting Standards Board (AASB)
33
Australian Investment Council
34
Professional Standards Councils
36
Maurice Blackburn Lawyers
37
Australia and New Zealand Banking Group Limited (ANZ)
37.1 Supplementary to submission 37
38
National Australia Bank (NAB)
39
Professor James Guthrie
41
Companies Auditors Disciplinary Board
42.1 Supplementary to submission 42
44.1 Supplementary to submission 44
45
Australian National Audit Office (ANAO)
46
Australian Shareholders' Association
47
Professor Stephen Taylor
48
Australasian Council of Auditors General
49.1 Supplementary to submission 49
55.1 Supplementary to submission 55
57
Adjunct Professor Stuart Kells, Professor Zahirul Hoque, Professor Ian Gow and Mr Scott Hamilton
57.1 Supplementary to submission 57
57.2 Supplementary to submission 57
59
Professor Robyn Moroney
60
Digital Finance Analytics
63
Emeritus Professor Keith Houghton and Professor Christine Jubb
64
Institute of Public Accountants - Deakin SME Research Centre
65
Professor Sandra van der Laan and Dr Steven Townsend
66
Australian Institute of Company Directors (AICD)
67
Australian Small Business and Family Enterprise Ombudsman
75
Miss Xinyi Wen, Mr Per Tronnes and Associate Professor Andrew Jackson
79.1 Supplementary to submission 79
90
Dr Barbara Voss and Associate Professor David Carter
97
Citizens Electoral Council
99
Dr Patrick McConnell and Dr Andrew Schmulow
102
Victims of Financial Fraud
102.1 Supplementary to submission 102
102.2 Supplementary to submission 102
107
Ownership Matters Pty Ltd
111
Mr Gerald Jaworski
• Response from CA ANZ (received 14 January 2020)
• Response from CPA Australia (received 11 December 2019)
Answers to Questions on Notice
1
Australian Securities and Investments Commission - Answer to questions posed 6 September 2019 (received 11 September 2019)
2
Australian Securities and Investments Commission - Answer to questions posed 10 October 2019 (received 25 October 2019)
3
Australian Securities and Investments Commission - Answer to questions posed 10 October 2019 (received 25 October 2019)
4
Australian Securities and Investments Commission - Answer to questions posed 10 October 2019 (received 25 October 2019)
5
Australian Securities and Investments Commission - Answers to questions posed on 28 October 2019 (received 27 November 2019)
6
Australian Securities and Investments Commission - Answers to questions posed on 27 November 2019 (received 27 November 2019)
7
Australian Securities and Investments Commission - Answer to questions posed 19 November 2019 (received 2 December 2019)
8
Mr Jeffrey Knapp - Answer to question posed at a public hearing on
29 November 2019 (received 2 December 2019)
9
Treasury - Answer to questions posed at a public hearing on
29 November 2019 (received 18 December 2019)
10
Financial Reporting Council - Answer to question posed at a public hearing on 29 November 2019 (received 18 December 2019)
11
Mr Ken Trotman - Ms Celia Hammond MP - Registered company auditors - from public hearing on 29 November 2019 (received 18 December 2019)
12
Australian National Audit Office - Mr Georganas - Quality assurance - public hearing 29 November 2019 (received 19 December 2019)
13
Chartered Accountants Australia and New Zealand - Answer to questions posed at a public hearing on 29 November 2019 (received 20 December 2019)
14
Australian Securities and Investments Commission - Answer to questions posed 27 November 2019 (received 20 December 2019)
15
EY - Senator Whish-Wilson - Tranche 2 AML/CTF laws - public hearing
29 November 2019 (received 20 December 2019)
16
EY - Senator Whish-Wilson - Special and general purpose financial statements - public hearing 29 November 2019 (received 20 December 2019)
17
EY - Mr Georganas - Report Westpac financial crime - public hearing
29 November 2019 (received 20 December 2019)
18
EY - Senator Whish-Wilson - Litigation overview - public hearing
29 November 2019 (received 20 December 2019)
19
Deloitte - Senator Whish-Wilson - auditor liability - public hearing
29 November 2019 (received 10 January 2020)
20
Deloitte - Senator Whish-Wilson - Corporate failure and audit quality - public hearing 29 November 2019 (received 10 January 2020)
21
Deloitte - Senator O'Neill - ASIC Audit inspections - public hearing
29 November 2019 (received 10 January 2020)
22
Deloitte - Senator O'Neill - Work health and safety - public hearing
29 November 2019 (received 10 January 2020)
23
KPMG - Senator O'Neill - Ferrier Hodgson - public hearing 29 November 2019 (received 10 January 2020)
24
KPMG - Senator O'Neill - Work health and safety - public hearing
29 November 2019 (received 10 January 2020)
25
KPMG - Senator O'Neill - No disclosure agreements - public hearing
29 November 2019 (received 10 January 2020)
26
KPMG - Mr Georganas - Everett assignment - public hearing
29 November 2019 (received 10 January 2020)
27
KPMG - Senator O'Neill - Everett Assignment emails - public hearing
29 November 2019 (received 10 January 2020)
28
KPMG - Senator Whish-Wilson - List of corporate collapses - public hearing
29 November 2019 (received 10 January 2020)
29
KPMG - Senator Whish-Wilson - Litigation trends - public hearing
29 November 2019 (received 10 January 2020)
30
KPMG - Senator O'Neill - CPS 220 work - public hearing 29 November 2019 (received 10 January 2020)
31
KPMG - Senator O'Neill - section 311 notification statistics - public hearing
29 November 2019 (received 10 January 2020)
32
NAB - Mr Georganas - Risk division employee statistics - public hearing
9 December 2019 (received 10 January 2020)
33
PwC - Senator Whish-Wilson - ExxonMobile - Special purpose accounts - public hearing 9 December 2019 (received 12 January 2020)
34
PwC - Mr Gorman - Westpac War Room - public hearing 9 December 2019 (received 12 January 2020)
35
PwC - Senator O'Neill - Offshore Service centres - public hearing
9 December 2019 (received 12 January 2020)
36
PwC - Senator O'Neill - CPS 220 - public hearing 9 December 2019 (received
12 January 2020)
37
PwC - Senator O'Neill - Retirement payments - public hearing 9 December 2019 (received 12 January 2020)
38
EY - Senator O'Neill - CPS 220 proposals - Written questions from
18 December 2020 (received 16 January 2020)
39
Auditing and Assurance Standards Board - Senator Whish-Wilson - Breaches of audit laws and standards - Written questions from 23 December 2020 (received 29 January 2020)
40
Financial Reporting Council - Senator Whish-Wilson - Retirement plan - Written questions from 23 December 2020 (received 29 January 2020)
41
Deloitte - Senator Whish-Wilson - Audit failures - Written questions
23 December 2019 (received 29 January 2020)
42
Deloitte - Senator Whish-Wilson - ASIC audit inspections - Written questions 23 December 2019 (received 29 January 2020)
43
Australian Securities and Investments Commission - Senator Whish-Wilson - Breaches of audit laws and standards - Written questions 23 December 2019 (received 29 January 2020)
44
Deloitte - Senator Whish-Wilson - General purpose financial statements - Written questions 23 December 2019 (received 29 January 2020)
45
Deloitte - Senator Whish-Wilson - Money Laundering - Written questions
23 December 2019 (received 29 January 2020)
46
Deloitte - Senator Whish-Wilson - Prices and revenue - Written questions
23 December 2019 (received 29 January 2020)
47
Deloitte - Senator Whish-Wilson - Partner tax rates - Written questions
23 December 2019 (received 29 January 2020)
48
Deloitte - Senator Whish-Wilson - Retirement plans for former partners - Written question 23 December 2019 (received 29 January 2020)
49
Deloitte - Senator Whish-Wilson - Financial services remediation programs - Written question 23 December 2019 (received 29 January 2020)
50
Deloitte - Senator Whish-Whilson - Government contracts - Written questions 23 Decembe 2019 UPDATED 17 February 2020 (received 29 January 2020)
51
KPMG - Senator Whish-Wilson - Audit failures - Written questions
23 December 2019 (received 30 January 2020)
52
KPMG - Senator Whish-Wilson - ASIC audit inspections - Written questions
23 December 2019 (received 30 January 2020)
53
KPMG - Senator Whish-Wilson - General purpose financial statements - Written questions 23 December 2019 (received 30 January 2020)
54
KPMG - Senator Whish-Wilson - Money laundering - Written questions
23 December 2019 (received 30 January 2020)
55
KPMG - Senator Whish-Wilson - Prices and revenue - Written questions
23 December 2019 (received 30 January 2020)
56
KPMG - Senator Whish-Wilson - Partner tax rates - Written questions
23 December 2019 (received 30 January 2020)
57
KPMG - Senator Whish-Wilson - Retirement plans for former partners - Written questions 23 December 2019 (received 30 January 2020)
58
KPMG - Senator Whish-Wilson - Financial services remediation programs - Written question 23 December 2019 (received 30 January 2020)
59
KPMG - Senator Whish-Wilson - Government contracts - Written question
23 December 2019, updated 12 February 2020 (received 30 January 2020)
60
PwC - Senator Whish-Wilson - Audit failure - Written questions
23 December 2019 (received 31 January 2020)
61
PwC - Senator Whish-Wilson - ASIC audit inspections - Written questions
23 December 2019 (received 31 January 2020)
62
PwC - Senator Whish-Wilson - General Purpose Financial Statements - Written questions 23 December 2019 (received 31 January 2020)
63
PwC - Senator Whish-Wilson - Money laundering - Written questions
23 December 2019 (received 31 January 2020)
64
PwC - Senator Whish-Wilson - Prices and revenue - Written questions
23 December 2019, including correction (received 31 January 2020)
65
PwC - Senator Whish-Wilson - Partner tax rates - Written questions
23 December 2019 (received 31 January 2020)
66
PwC - Senator Whish-Wilson - Retirement Plans for former partners - Written questions 23 December 2019 (received 31 January 2020)
67
PwC - Senator Whish-Wilson - Financial services remediation programs - Written questions 23 December 2019 (received 31 January 2020)
68
PwC - Senator Whish-Wilson - Government contracts - Written questions
23 December 2019 (received 31 January 2020)
69
EY - Senator Whish-Wilson - Audit failure - Written questions
23 December 2019 (received 3 February 2020, further information received
21 February 2020)
70
EY - Senator Whish-Wilson - ASIC Audit Inspections - Written questions
23 December 2019 (received 3 February 2020)
71
EY - Senator Whish-Wilson - General Purpose Financial Statements - Written questions 23 December 2019 (received 3 February 2020)
72
EY - Senator Whish-Wilson - Money laundering - Written questions
23 December 2019 (received 3 February 2020)
73
EY - Senator Whish-Wilson - Prices and revenue - Written questions
23 December 2019 (received 3 February 2020)
74
EY - Senator Whish-Wilson - Partner tax rates - Written questions
23 December 2019 (received 3 February 2020)
75
EY - Senator Whish-Wilson - Retirement plans for former partners - Written questions 23 December 2019 (received 3 February 2020)
76
EY - Senator Whish-Wilson - Financial services remediation programs - Written questions 23 December 2019 (received 3 February 2020)
77
EY - Senator Whish-Wilson - Government contracts - Written questions
23 December 2019 (received 3 February 2020)
78
Australian Securities and Investments Commission - Senator Whish-Wilson - Audit and auditor's report - Written questions 23 December 2019 (received
5 February 2020)
79
Australian Securities and Investments Commission - Senator Whish-Wilson - Auditing standards - Written questions 23 December 2019 (received
5 February 2020)
80
Australian Securities and Investments Commission - Senator Whish-Wilson - Auditing inspections - Written questions 23 December 2019 (received
5 February 2020)
81
Australian Securities and Investments Commission - Senator Whish-Wilson - Code of ethics for professional Accountants - Written questions
23 December 2019 (received 5 February 2020)
82
Australian Securities and Investments Commission - Senator Whish-Wilson - Audit failures - Written question 23 December 2019 (received 5 February 2020)
83
Australian National Audit Office - Responses to Questions on Notice - public hearing 7 February 2020 (received 11 February 2020)
84
CPA Australia - Answers to Questions on Notice - public hearing
7 February 2020 (received 14 February)
85
Pitcher Partners - Answer to Questions on Notice - public hearing
7 February 2020 (received 14 February 2020)
86
APESB - Prohibitions and Non-Audit Services - public hearing 7 February 2020 (received 14 February 2020)
87
APESB - Guidance on Materiality - public hearing 7 February 2020 (received
14 February 2020)
88
APESB - Technological solution for Conflicts of Interests - public hearing
7 February 2020 (received 14 February 2020)
89
APESB - Monitoring & Enforcement - public hearing 7 February 2020 (received 14 February 2020)
90
Maurice Blackburn - Answer to Questions on Notice - public hearing
7 February 2020 (received 14 February 2020)
91
Grant Thornton - Answers to Questions on Notice - public hearing
7 February 2020 (received 15 February 2020)
92
Australia Prudential Regulation Authority - public hearing 7 February 2020 (received 17 February 2020)
93
Australian Securities and Investments Commission – Corporate collapses – written question 19 (received 14 February 2020)
94
Australian Securities and Investments Commission – Conflict of interest in ASIC – disciplinary actions – public hearing 7 February 2020 (received
14 February 2020)
95
Australian Securities and Investments Commission - Conflict of interest in ASIC – pension payments - public hearing 7 February 2020 (received
14 February 2020)
96
Australian Securities and Investments Commission – APRA/ASIC relationship - public hearing 7 February 2020 (received 14 February 2020)
97
Westpac - Review of Westpac’s CPS 220 Risk Management Framework – public hearing 7 February 2020 (received 14 February 2020)
98
Westpac - Review of IFTI reporting - public hearing 7 February 2020 (received 14 February 2020)
99
Westpac - Systems and controls to monitor and report transactions - public hearing 7 February 2020 (received 14 February 2020)
100
Westpac - Financial Year 2019 Result announcement - public hearing
7 February 2020 (received 14 February 2020)
101
Westpac - Monitoring of AML/CTF - public hearing 7 February 2020 (received 14 February 2020)
102
Westpac - Review of Westpac’s Risk Management Framework - public hearing 7 February 2020 (received 14 February 2020)
103
BDO Australia - Answers to questions on notice 2 to 6 – public hearing
7 February 2020 (received 14 February 2020)
104
Westpac - 2017 CPS 220 - public hearing 7 February 2020 (received
26 February 2020)
Correspondence
1
Correspondence from the Accounting Professional & Ethical Standards Board Limited regarding evidence given by ASIC at a public hearing in Sydney on 19 November 2019 (received 27 November 2019).
2
Correspondence from the Australian Accounting Standards Board regarding evidence given at public hearings in Canberra on 29 November 2019 and Melbourne on 9 December 2019 (received 24 January 2020).
Additional Hearing Information
1
Opening statement provided by NAB at a public hearing in Melbourne on
9 December 2019.
2
Opening statement provided by EY at a public hearing in Melbourne on
9 December 2019.
3
Opening statement provided by Deloitte at a public hearing in Melbourne on
9 December 2019.
4
Opening statement provided by KPMG at a public hearing in Melbourne on
9 December 2019.
5
Opening statement provided by Dr Barbara Lima de Voss at a public hearing in Canberra on 7 February 2020.
Tabled Documents
1
Tabled documents: Extended opening statement of Professor Roger Simnett AO from the Auditing and Assurance Standards Board tabled at a hearing in Canberra on 29 November 2019.
2
Tabled documents: Opening statement of Mr Jeffrey Knapp tabled at a hearing in Canberra on 29 November 2019.