Professional Standards Research
Benefits of professional standards schemes
The benefits of professional standards schemes
The Professional Standards Councils have commissioned three research reports to examine and evidence the benefits delivered by professional standards schemes.
The Councils encourage all professional associations and insurers to use these reports when working together to continuously improve standards and protect consumers – the benefits are tangible and significant. As risks are reduced, so too are costs, consumer harms and complaints.
The benefits of professional standards schemes (2025)
Prepared by the Griffith University Institute for Ethics, Governance and Law, this report draws on interviews with representatives from five occupational associations, as well as experts in insurance, law and risk. The findings show that professional standards schemes continue to play a critical role in lifting standards, reducing risk, and supporting professionals to deliver high‑quality services.
The report also identifies several industry‑wide challenges, including evolving technologies, regulatory change, and shifts in insurance market conditions, and outlines how schemes help associations remain agile and responsive in a complex operating environment.
The benefits of professional standards schemes - limitation of liability and consumer protection measures (2022)
This report, released by the Professional Standards Councils in 2022, showed that professional standards schemes improve risk management within the professions to the benefit of Australian consumers, scheme participants and insurers.
The Councils commissioned consulting actuaries Taylor Fry to examine and evidence the benefits delivered by professional standards schemes.
Using three case studies – The Law Society of NSW, Chartered Accountants Australia and New Zealand, and Australian Property Institute Valuers – the report assessed the effects of schemes on professional indemnity insurance, professional negligence claims, and consumer complaints.
Supplementary report: The benefits of professional standards schemes – limitation of liability and consumer protection measures update (2024)
This supplementary report provides additional context to key findings from the 2022 report. It includes detailed comparisons with industry benchmarks and further demonstrates the positive impacts of professional standards schemes.