This Month
Accountants escape Labor’s onerous new rules, for now
Assistant Treasurer Stephen Jones has delayed new requirements for tax professionals, amid a growing backlash about the risk of compliance failures.
- Tom McIlroy
July
Oaktree in exclusive talks with $600m accounting, advice roll-up AZ NGA
Oaktree’s investment comes after AZ NGA spent much of the past year trying to bed down a deal with TA Associates.
- Sarah Thompson, Kanika Sood and Emma Rapaport
‘Another bombshell on tax practitioners’: new rules anger accountants
Labor is being urged to delay implementing the new standards and obligations for accountants and tax agents, who accuse the government of significant overreach.
- Tom McIlroy
KPMG pay growth slows in tough market
Pay rises for this financial year were minimal, with graduate salaries increasing by an average of just 1.5 per cent.
- Maxim Shanahan
Alvarez & Marsal lifts EY team to spearhead entry into valuations
The trio have been tasked with building a presence in the local valuations sector, and Stewart has been appointed to run the unit.
- Sarah Thompson, Kanika Sood and Emma Rapaport
June
Telstra hires Deloitte to audit books, replacing EY after 25 years
The telecoms giant said changing auditors was “good governance” and wants to use Deloitte’s digital technology to reduce costs.
- Jenny Wiggins and Edmund Tadros
Government urged to add accountants, auditors to fast-track visa list
Eleven accounting, auditing and data-related roles need to be added to a new list of occupations eligible for fast-tracked migrant visas due to ongoing labour shortages, say two major professional bodies.
- Edmund Tadros
Companies switch on to new ways of staff training
A growing number of employers including law firms are developing short courses known as microcredentials in collaboration with tertiary institutions.
- Alexandra Cain
- Opinion
- Chanticleer
Big four can’t be allowed to stay in ‘grey zone’ of PwC scandal
The Senate report makes it clear the big accounting firms have fallen through the regulatory gaps. That structural problem must eventually be addressed.
- James Thomson
- Exclusive
- AI
Meet KymTax: KPMG’s AI tool can do a day’s mundane tasks in an hour
The big four firm has built an AI research assistant for tax professionals to speed up how quickly they can provide clients with tax advice.
- Tess Bennett
Boards plead with Labor not to rush broader sustainability rules
The warning from the Australian Institute of Company Directors came despite concerns Australia is “cherry-picking” global sustainability reporting standards.
- Patrick Durkin
May
ChatPwC v KPMG KymChat: Consultants race is on after ‘world’s biggest’ AI deal
The US and UK arms of consulting giant PwC have become the biggest direct corporate client of OpenAI, announcing a deal to use and resell the AI firm’s tools.
- Paul Smith and Edmund Tadros
S&P Global Ratings slaps down KKR-backed MYOB
S&P added that it could lower the ratings if the company is unable to make credible progress on extending its existing first-lien loans.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Exclusive
- Insolvency
Doctors owed millions in collapse of service provider
The Melbourne-headquartered eReports allegedly failed to disclose $7.2 million owed to more than 400 specialists before calling in administrators.
- Max Mason
Adam Powick failed to make partner twice. Now he runs Deloitte
The chief executive says when people fail to get a promotion, they are often told they are doing a good job and should continue along the same path. He reckons that advice is “BS”.
- Ciara Seccombe and Lap Phan
KKR’s MYOB refinancing drags while bolt-on payday looms
The private equity giant is still to pin down a price and structure to its liking, leading to questions on whether it would press ahead or park the big-ticket refinancing.
- Sarah Thompson, Kanika Sood and Emma Rapaport
PwC partners in Middle East accused of blocking first woman boss
PwC is facing a backlash from its own staff after two women were passed over for the UK firm’s top job, as Middle Eastern partners grow in strength.
- Updated
- Adam Mawardi
- Opinion
- Big four accountants
Why can’t top auditors find fraud?
US regulators have put forward a series of proposals to clarify and extend responsibilities to spot wrongdoing.
- Stephen Foley
‘I loved’ my old accounting job – surprise confession from opera star
Baritone Teddy Tahu Rhodes is nostalgic about his days working with spreadsheets before he quit the world of finance to fulfil his musical ambitions.
- Simon Evans
April
Highest-paid CFOs revealed
The country’s top CFOs continue to enjoy a “breakout period” on pay and remain in the box seat as the country’s next CEOs.
- Patrick Durkin