Yes but, Do we really need CASA.
Why not give the Federal Police an aviation related branch. At least investigations into an alleged 'breach' of regulation would be properly investigated, by trained professionals who are governed by code of conduct and ethical standards.
Why not expand the ATSB to oversight 'safety' related matters. At least we would get a logical, reasoned opinion as to why a thing is deemed 'unsafe'.
That only leaves the clerical details which could, with modern technology be done on a cost effective basis.
The only safety the present crew seem interested in is 'legally safe' prosecutions. They don't seem to able to do that very well either, looking down the long, sad and probably expensive list of judgements against them.
The negative impact on aviation safety that this body has must be of serious concern to this industry. The total cost, including 'legal' fees measured against the minuscule positive safety based outcomes and improvements offered is truly staggering.
Now we have to fund the cost of yet another inquiry and probably a Royal Commission. They need to hang their collective heads in shame.