Government to review whistleblower protections
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The news: The government has announced it will review tax and corporate whistleblowing laws to ensure they are working to protect whistleblowers.
The context: The review, announced by Assistant Treasurer and Minister for Financial Services Daniel Mulino, will look at whether current laws are working as intended, identify any ongoing concerns, and recommend further improvement if needed.
The terms of reference include consideration of whistleblowers’ access to justice, and the effectiveness of the regimes in incentivising whistleblowing and disincentivising misconduct.
Mulino said whistleblowers need protection to feel supported in coming forward on issues which might otherwise go undetected.
Submissions into the review are due on 29 July.
The context: Whistleblowing protections in corporate and financial services sectors were broadened and reformed into a single regime in the Corporations Act in 2019. At the same time a new tax whistleblowing regime was also introduced into the Taxation Administration Act.
Last week, KPMG admitted it had failed to adequately address whistleblower allegations relating to the misuse of client information.
The source: Treasury media release
