Australia urged to mandate digital reporting to boost market transparency
Chartered Accountants Australia and New Zealand (CA ANZ) has released a compelling new report highlighting the need for mandatory digital reporting in Australia. While other major economies have moved to structured, machine-readable financial disclosures, Australia still relies on PDFs—leaving investors with limited access to consistent, usable data.
The report, published in late May, draws on detailed research and broad stakeholder engagement. It argues that digital reporting is not only more efficient—cutting manual errors and streamlining compliance—but also essential for transparency and investor confidence. It enables faster, better-informed decisions and creates the foundation for advanced tools like AI to generate meaningful insights.
CA ANZ makes clear recommendations: amend the Corporations Act to require digital reporting for disclosing entities, adopt XBRL using the IFRS Accounting Taxonomy, and invest in infrastructure to support the transition. It also calls for a review of how digital data can be shared across government, reducing duplication and improving regulatory efficiency.
The report aligns with growing momentum in Australia, including the Productivity Commission’s current review of digital financial reporting. As expectations shift globally, this is a timely reminder that modern markets need modern tools.
Explore the full report from CA ANZ here.
