From www.themandarin.com.au: The Albanese government proposes a restructuring of accounting, auditing, and sustainability reporting rules, emphasising transparency in the standard-setting process.

The new model aims to ensure that the oversight body, which will include a board and technical committees, conducts its meetings publicly to avoid secrecy.

It also suggests that the newly formed board should have the power to create and dissolve committees while also considering measures for monitoring audit quality through a separate entity.