Earlier this morning, Buckingham Palace confirmed her majesty Elizabeth II had passed in Balmoral, aged 96.
An outpouring of condolences from global leaders followed, including from Australian Prime Minister, Anthony Albanese, who suspended parliament on Friday morning for a period of two weeks.
The Prime Minister is now expected to travel to London alongside the Governor-General to meet King Charles III.
“With the passing of Queen Elizabeth II, a historic reign and a long life devoted to duty, family, faith and service has come to an end,” Mr Albanese said.
“There is comfort to be found in Her Majesty’s own words: Grief is the price we pay for love,” he added.
Also reacting to the Queen’s passing are members of the financial services industry.
The Financial Planning Association of Australia (FPA) issued a formal statement to ifa this morning, reading: “Queen Elizabeth has been on the throne for as long as most of us have been alive, and her death can truly be described as the end of an era.”
“She was someone who symbolised devotion to duty and responsibility, and was a woman who deserved respect. We extend our condolences to her family.”
FPA chair David Sharpe took to social media to express his condolences.
“I couldn’t imagine living a life of such unrelenting service and duty,” Mr Sharpe said.
“The Queen has been a symbol of stability and calm for the whole Commonwealth for seven decades,” he continued.
“I’m a proud and paid up Republican, but absolutely acknowledge the dignity and service Queen Elizabeth has provided over such a long time,” Mr Sharpe added.
Chartered Accountants Australia and New Zealand (CA ANZ) also posted a formal statement to their website paying their tribute to the Queen.
“It is a great loss, and Her Majesty will be remembered for her loyalty, selflessness, and service,” CA ANZ said.
“On behalf of Chartered Accountants Australia and New Zealand, established under Royal Charter in 1928, we pay our respects and pay tribute to her strength and dedication to public service.”
It has been reported that while there are no immediate plans to change banknote and coin design in Australia, King Charles III will begin appearing on Australian coins and the $5 note from 2023.
