Australia: Financial Accountability Regime: Not That FAR Away
By Jim Bulling and Ben Kneebush
On 8 March 2023, the Government introduced the long-awaited Financial Accountability Regime Bill 2023 and Financial Accountability Regime (Consequential Amendments) Bill 2023 (collectively, the Bills) into Parliament. These propose to establish the Financial Accountability Regime (FAR), a strengthened responsibility and accountability framework that replaces the existing Banking Executive Accountability Regime (BEAR).
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