Grant Thornton responds to Aged Care Quality and Safety Commission proposed Financial and Prudential Standards

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The Aged Care Quality and Safety Commission proposed Financial and Prudential Standards¹ in February 2025, introduces new liquidity and financial management requirements for Aged Care providers.

In response, Grant Thornton’s Heath & Aged Care industry group led by Darrell Price - Principal and Owen Carew – Partner, has collated a report to submit feedback to the Commission. Grant Thornton’s submission highlights financial and compliance challenges that could impact providers’ sustainability if these standards proceed without amendment. The report elaborates on specific feedback and outlines potential alternative approaches that may be considered to best assist providers.

“This regulatory change is not particularly well-thought-out and the implications on aged care providers are immense. Our key concerns begin with the impact of liquidity requirements on cash flow and the increased compliance and reporting obligations limiting working capital and creating cash flow pressures. The restrictions on liquidity sources could reduce financial flexibility and increase risk, making it harder for providers to secure capital for investments and operations,” said Darrell Price, Principal & National Head of Health & Aged Care at Grant Thornton.

Grant Thornton’s report found the financial and prudential standards aim to strengthen financial oversight, however some aspects of the proposal raise practical challenges that could create unintended financial and operational pressures on aged care providers. These concerns highlight the need for practical, well-defined financial standards that support aged care provider stability while ensuring appropriate regulatory oversight.

Aged care providers should prepare and publish a three-way cash flow forecast annually. This should cover three years, forecasting alongside that each provider should prepare and publish a five to ten-year capital forecast.

¹https://www.agedcarequality.gov.au/resource-library/new-financial-and-prudential-standards

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Press release

Grant Thornton responds to Aged Care Quality and Safety Commission proposed Financial and Prudential Standards

08 May 2025

The Aged Care Quality and Safety Commission proposed Financial and Prudential Standards¹ in February 2025, introduces new liquidity and financial management requirements for Aged Care providers.

¹https://www.agedcarequality.gov.au/resource-library/new-financial-and-prudential-standards

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Carla van den Hoorn

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