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This review discusses the Australian Chamber of Commerce and Industry's (ACCI's) major points of concern with the emerging education and training reform process and the potential implications for industry and future students of the education and training system. Various aspects of the reform process and ACCI's recommendations for each are discussed in this paper. These aspects are: the Australian Standards Framework, the National Training Board and qualifications; program accreditation; competence and key competence; the Australian National Training Authority (ANTA); articulation between varying contexts (school and work; university and work; TAFE and work; TAFE and university; school and TAFE); credit transfer and the recognition of prior learning (RPL); and the Australian Vocational Certificate (AVC) and the Australian Vocational Diploma (AVD). The review emphasises the complexity of the reforms and proposes that there should be a well documented agenda covering the reform process for each sector, which should include the consequences of the reform proposals with timelines for their implementation dates.