Diane has held roles in the minerals resource sector as a management and financial accountant. She is an experienced CPA professional having worked with the ‘Big 4’. For eight years she was Manager (Taxation and Banking) at La Trobe University. Diane has worked in the financial services sector as the taxation manager with Australia's largest administrator of industry superannuation funds. Diane has presented tax research papers at conferences both in Australia and overseas, including at the University of Cambridge, University of Houston and Groningen University. Diane was a Visiting Fellow at the Australian National University followed by a visit to the International Monetary Fund (IMF) in Washington DC to pursue extractive industry tax issues. The National Research Institute of Papua New Guinea (PNG) and the PNG Treasury appointed Dr Diane Kraal and Dr Craig Emerson (former Minister with the Australian government) to research petroleum and mining tax reform. Tax reform in PNG has the support of the IMF. PNG's National Budget 2017 broadly includes Kraal and Emerson’s petroleum and mining tax reform initiatives. In 2017-2018 Diane is conducting further research for the National Research Institute of PNG. In July 2017 Diane was called as an expert witness to the Federal Senate inquiry into corporate tax avoidance in relation to Australia's offshore oil and gas industry. In 2018 Diane received the Monash Business School Dean’s Commendation for Research Impact. Diane’s latest research concerns tax and policy around biofuels.
In 2018 Diane received the Monash Business School Dean’s Commendation for Research Impact.