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  1. Impending IASB standard ‘fortuitous’ for ATO

    International Accounting Standards Board will give the ATO a roadmap to focus its audit activity according to a mid-tier. Last month, the International Accounting Standards Board (IASB) finally issued IFRIC 23 Uncertainty over Income Tax Treatments in...

  2. New mid-tier director eyes M&A sector

    in valuations to focus on growing the firm's M&A advisory focus. Moore Stephens WA announced the appointment of Peter Gray last week as a director in its corporate advisory team. Mr Gray, who was most recently working at RSM, has also had experience...

  3. EXCLUSIVE: Xenophon set to escalate ATO downtime fight

    that inquiry delves into the effects and impact of outages on taxpayers and tax practitioners,” he said. State of play Late last year, the ATO committed to replacing the tax agent portal and improving the general experience of accounting professionals...

  4. Reckon confirms director resignation, block share trade

    director when he had a part-time role outside of Reckon,” a Reckon spokesperson told Accountants Daily. “In June last year, Chris was given a full-time role which increased his international responsibilities. As time passed it became apparent that it...

  5. Maximising your value outside of EOFY

    use these tools to create effective and efficient solutions for our clients, but what’s next for the bookkeeper? Over the last five years especially, the term “move to advisory” has been thrown around and it’s a broad term. What does it actually mean to...

  6. ATO guideline gives clients ‘breathing space’

    years to repay certain corporate beneficiary entitlements and releasing an accompanying practical compliance guideline. Last week, the ATO released guideline PCG 2017/13, allowing trusts to refinance unpaid entitlements of corporate beneficiaries for an...

  7. MYOB finds Amazon arrival motivating SMEs

    Of the more than 1,000 Australian SMEs surveyed, 76 per cent invested in technology as a means to innovate over the last 12 months, and 78 per cent believe that advancements in technology will impact their business in the next decade. “There is no doubt...

  8. Small cap IPO market outpacing large listings

    of 2016. Mr Ohm said that it is striking that there has been an absence so far this year in very large listings. “This time last year, we had seen two companies list with a market capitalisation of around $1 billion and 11 companies list with a market...

  9. Labor calls on PM to address tax agents over ATO downtime

    on her as an SME. “The impact [of the outages] on our productivity and cash flow is quite enormous,” she said. Promises Late last year, the ATO said it was beta-testing an online system that will replicate the current tax agent portal. It was originally...

  10. CPAs lose liability cover Australia-wide

    since surfaced are also informing this process, Dr Deen Sanders, chief executive at the PSC, told Accountants Daily late last month.

  11. 'Workaholic' culture persists in accounting industry

    you and the temptation to become a workaholic is greater,” she said. These habits include being the first to arrive and the last to leave, not having any hobbies or interests, being constantly stressed, not taking lunch breaks and checking emails too...

  12. 'Too much emphasis on price' in software, accountants told

    I’m hearing a lot of vendors talking about how they're going to be cheaper than XYZ. But I would say price should be the last thing on your list,” Ms Penn said. “If you're an accountant looking at software, the amount of time and effort that you are...

  13. Numerous companies to be wound up by big 4 liquidators

    associated with Macro Group, and have been ordered by the Federal Court of Australia to wind up all associated companies. Last month ASIC applied for KPMG partners Hayden White and Matthew Woods to be appointed liquidators to 19 'special purpose...

  14. Big 4 firm ups use of 'robots' in audit division

    auditors are increasingly trying to get access to more data direct from the source to speed up the audit process. “In the last 12 months we've made significant headway in terms of getting access to data that we can use to potentially verify accounting...

  15. In-house accountant charged in underpayment case

    Work Ombudsman. A joint investigation by the Fair Work Ombudsman and the Department of Immigration and Border Protection last year has resulted in restaurant owner Ye Shao and accountant Yizhu “Jessica” Ding being charged for allegedly underpaying...

  16. KPMG pinches tax partner from rival big 4 firm

    tax, advisory and compliance services, has been appointed as lead tax partner at KPMG South Australia. Mr Lanzilli spent the last 13 years working at Deloitte as tax partner advising a broad range of clients, including the property and mining industries...

  17. ‘Sleeping giant’ accounting bodies told to play catch up

    revealed that the majority of accountants are unsatisfied with their professional association. Accountants Daily ran a poll last month asking readers if they are satisfied with their professional association. Of 761 respondents, 76.8 per cent said no...

  18. Virtual CFO firm locks in first two franchisees

    Sequel CFO has followed through on plans announced in December last year to expand through the franchising of its business with the launch of its first two franchisees. Sequel CFO has confirmed that Michael Little and Kevin Jessup have joined the...

  19. More downtime looms as ATO grants deadline relief

    of the ATO’s key portals, including the tax agent and BAS agent portals, have — unsurprisingly — persisted over the last two to three weeks. They are likely to continue as the ATO continues to adjust and restore its systems. “The issues we have...

  20. National tax network eyes growth in bookkeeping arm

    known for its income tax services in particular, is eyeing growth in its bookkeeping service line after a soft launch last year. Though they didn’t make a “song and dance” about it as they have with other new service lines, H&R Block started a...

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