This law (AML Law) enforces the appropriate regulation of financial regulations. It ensures that the appropriate information is provided to both clients and governmental regulatory institutions, such as the Reserve Bank and the National Treasurer. It outlines any penalties incurred in cause of non-compliance. This is a 2015 Amendment to the 1959 Law.
The Australian Prudential Regulation Authority Act of 1998 (APRA) is in charge of acquiring information from auditors and regulating them.