From my accountants point of view this was entirely unneccessary, increased complexity, increased fees, more grey and put more road blocks up to provide advise.
Doing FAESA 3 times, it had a bad effect on my business with a ll the changes from COVID and ATO audit activity.
This was allways a political issue with the Liberal party running away from the union investigation.
The bank have been an easy target ever since and the govt is doing its best to drive them out of business and this has peculated down to all businesses.