ASIC puts 2,900 company auditors on notice

• ASIC issued formal compliance reminders to 2,900 registered company auditors across Australia.
• The watchdog launched surveillance across Big Four accounting firms alongside new biannual oversight meetings.
• The regulatory campaign aims to enforce ethical standards and restore public confidence following recent auditing scandals.

The Australian Securities and Investments Commission has issued formal compliance reminders to 2,900 registered company auditors.

The warning follows heightened industry scrutiny after a whistleblower scandal recently engulfed accounting firm KPMG.

"There is significant focus on the conduct of auditors," said ASIC Commissioner Kate O'Rourke.

The watchdog is establishing biannual industry meetings while expanding surveillance into major accounting firms.

ASIC confirmed it will launch formal investigations into any suspected breaches of Australian corporate laws.

The regulatory push aims to rebuild trust across Australia's financial reporting and auditing sectors.