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  1. CA ANZ specifies terms of conduct review

    an important next to ensure its conduct rules were “robust” and encouraged submissions by members. The review was announced last month in the wake of the KPMG exam cheating scandal, which emerged two years ago and involved hundreds of employees who were...

  2. Sky-high demand for staff ‘the number one problem’

    opportunity to identify real solutions”, CPA Australia said. ABS data showing the unemployment rate fell to 3.4 per cent last month simply reinforced the fact that “thousands” of accountants were needed to make up the shortfall, CPA Australia general...

  3. SMEs feeling the pinch as invoice payment times blow out

    cash flow in the wake of COVID as debtors took longer to pay and access to finance got tighter. “What we’ve seen over the last six months is the average number of days that an invoice is open before a debtor pays it is slowly creeping out,” he said....

  4. Lull in SME financial disputes could be temporary, AFCA warns

    financial disputes for small business, the AFCA cautioned, after fewer hardship issues meant total complaints fell slightly last year. Small businesses won more than $18 million in compensation and refunds from 3,490 complaints in 2021–22, a 3 per cent...

  5. FWO acts against Melbourne Uni over treatment of casuals

    had arisen previously with the vice-chancellor addressing it. "Separate to the legal matter at hand, the vice-chancellor last year apologised to past and current casual employees who had been paid less than they were due for work that they performed,"...

  6. Submissions open for Women in Finance Awards 2022

    from the individual category winners will be crowned as the recipient of the prestigious Women in Finance Excellence Award. Last year, FAB Tax Accountants’ Miriam Holme walked away with the Excellence Award after winning the Accounting Consultant of the...

  7. The Ultimate Pricing Strategy Guide for Accountants & Bookkeepers

    Discussing prices with clients can be awkward, especially when it comes to communicating value—but, it doesn't have to be! Choosing the best pricing strategy is one of the most important decisions you can make. However, there are many factors to...

  8. TPB aims to reduce red tape, increase automation

    professional associations, building on initiatives such as the Tax Practitioner Governance and Standards Forum established last year. More rapid adoption of technology was a key feature of the TPB’s strategy, Mr Klug said, with the goal of reducing the...

  9. It’s time for business funding transparency

    Accountants are time-poor and largely overworked. Researching and identifying different funding options is probably the last thing they want to be doing. While some clients will use a mortgage broker, they may not have an experienced professional to...

  10. FWO recovers record $500m in unpaid wages

    The ombudsman also doubled the number of matters filed for litigation compared to last year. The FWO recovered a record $532 million in unpaid wages and entitlements for more than 384,000 workers in 2021-22 financial year. The ombudsman said that the...

  11. Small businesses ‘forgotten’ in domestic violence leave scheme

    Ms Boyd. Data from the ABS shows a steady upwards trend in the proportion of female business owners and managers over the last 20 years, with women now accounting for more than 35 per cent. “This is a crucial consideration for government — how do we...

  12. Insolvencies and court action leap in July: CreditorWatch

    The bureau’s July Business Risk Index showed administrations rose 46 per cent and court actions 54 per cent compared with last year, as supply chain issues, declining consumer confidence, rising interest rates, inflation, and labour shortages combined...

  13. 120 DPNs a day drive insolvencies back to pre-pandemic level

    reality that they’ve been trading a zombie company for some period”. “The ATO is doing very aggressive signaling. In the last week, we’ve seen the first few ATO wind-ups hitting the courts – it’s only a few, less than 10,” Mr Winter said “So the ATO has...

  14. KPMG grows revenue 16% to hit $2.3bn

    consulting businesses. KPMG has rebounded from the pandemic with revenue up 16 per cent – compared with 9 per cent growth last year – and overall profitability up 8 per cent. KPMG chief executive Andrew Yates said that the firm had achieved record...

  15. Disclose contractor payments by 28 August, ATO warns

    The ATO is warning businesses that they have until 28 August to complete a taxable payment annual report (TPAR) for last year as it cracks down on the shadow economy. Around $350 billion in payments made to 950,000 contractors were reported last year...

  16. EY revenue grows 18 per cent, delivers $70m in bonuses

    divisions, EY rebounds despite lingering COVID concerns. EY Australia doubled its revenue growth to 18 per cent over the last financial year, to $2.75 billion, and handed out 70 million in “record bonuses” the company said on Thursday (4 August). That...

  17. Age for downsizer super scheme to drop to 55

    savings. Anyone over 55 will be able to make downsizer super contributions if tax amendments introduced to Parliament last week are passed and the revised rule could apply as soon as October, according to one superannuation specialist. The reduced age...

  18. Buy now, pay later needs greater regulation, says CPA

    across a variety of buy now pay later platforms, and users made an average of 16.6 transactions at an average value of $151 last year,” said Dr Schmitz. “And in the financial year of 2021 in Australia, buy now pay later services contributed a whopping...

  19. IPA calls for ASIC’s powers to be stripped

    submission to the Quality of Advice Review took its lead from an interim report from the Australian Law Reform Commission last November “and honed in on ASIC”, Ms Stylianou said. “What they were saying [in that report] was the fact that ASIC can make...

  20. Little point changing lodgement date, says CPA

    against lodgement before it has the chance to gather essential pre-fill information. It gave the go-ahead to file last week although on Wednesday (3 August) it was still waiting for data from a long list of banks and major companies. They included:...

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