|}
;Notes
- – Olivier Panis and Jos Verstappen originally finished fourth and ninth respectively, but each received a 25-second post-race time penalty for overtaking under yellow flag conditions. At the request of his family, his death was not made public during the event, On 9 March, a memorial service was held at the St. Jude's Anglican Church in Beveridge's hometown of Bowral, New South Wales. He was buried at the Bundaberg General Cemetery four days later. A park bench opposite turn three was dedicated in his memory at a commemoration service on 9 November 2002.
The race stewards investigated the crash and chose not to pursue any action against Villeneuve and Ralf Schumacher. They rated the crash "a racing incident", with neither driver to blame. The FIA launched an inquiry as Villeneuve's car was impounded on the order of the state coroner of Victoria Graeme Johnstone for his investigation. The section of catchfence that Villeneuve's right-rear wheel penetrated was stored at the Victoria Police's traffic centre in Brunswick. Both Villeneuve and Ralf Schumacher were interviewed by officers from the Victoria Police's Major Collision Investigation Unit. The FIA's investigation was completed on 3 August. In its confidential report, the organisers of the race, the Australian Grand Prix Corporation (AGPC), were absolved of any responsibility for the death of Beveridge, which it called "a freak accident", and discovered the marshal was stationed at an incorrect position at the time of the crash.
Coronial inquest
Following the Victoria Police Major Collision Investigation Unit examination lasting eight months and also absolved the AGPC, on 3 December 2001 the official inquest into the death of Beveridge opened in Melbourne.
During the inquest, the court was told Beveridge was instructed to stand at the fence opening to prevent spectators from accessing the track and it had prevented any further fatalities. A British track marshal told the court this had twice been the case at the Silverstone Circuit in the United Kingdom. The inquest later heard the AGPC rejected Whiting's suggestion to increase the height of the fences in 1998 and 2001, something CAMS and the AGPC denied.
On 19 December, the final submissions were made to the inquest. Jim Kennan, the counsel assisting the coroner, argued the organisation that should be held responsible for Beveridge's death was the AGPC under the Australian Grand Prix Act, "No one organisation accepted ultimate responsibility for the design – AGPC relied on CAMS, CAMS relied on FIA, the FIA said the local promoter had ultimate responsibility." Johnstone's report was released on 8 February 2002. It agreed with Kennan's suggestion the AGPC was the sole company responsible for Beveridge's death due to it not analysing the risks to marshals and concluded the accident was "avoidable".
Physician's inquest
In December 2002, the Medical Practitioners Board of Victoria opened an investigation into the professional conduct of three senior physicians who treated Beveridge at the scene of the accident when Johnstone's report revealed medical records had been altered to disguise the fact the marshal died at the track. It found a physician was told via telephone resuscitation on Beveridge had stopped at 14:47 local time and he subsequently ordered the nurse who produced the record to delete it.
Championship standings after the race
;Drivers' Championship standings
{| class="wikitable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" | Driver
! scope="col" | Points
|-
| align="center" | 1
| Michael Schumacher
| 10
|-
| align="center" | 2
| David Coulthard
| 6
|-
| align="center" | 3
| Rubens Barrichello
| 4
|-
| align="center" | 4
| Nick Heidfeld
| 3
|-
| align="center" | 5
| Heinz-Harald Frentzen
| 2
|-
!colspan=3|Sources:
|}
;Constructors' Championship standings
{|class="wikitable" style="font-size: 85%;"
|-
! scope="col" |
! scope="col" | Constructor
! scope="col" | Points
|-
| align="center" | 1
| Ferrari
| 14
|-
| align="center" | 2
| McLaren-Mercedes
| 6
|-
| align="center" | 3
| Sauber-Petronas
| 4
|-
| align="center" | 4
| Jordan-Honda
| 2
|-
!colspan=3|Sources: