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  1. Poor financial management costing SMEs 'big bucks'

    Research has revealed that around 10 per cent of SMEs lost money last year as a result of poor financial management. Many businesses make entirely avoidable mistakes that cost them "big bucks", according to Clive Barrett, executive chairman of...

    • Type: Article
    • Author: Staff Reporter
    • Category: Tax

  2. Award winner urges accountants to send in submissions

    As submissions flood in for the 2016 AccountantsDaily Australian Accounting Awards, last year’s winner of the prestigious Excellence Award has encouraged accountants to send in their applications. Amanda Kenafake of Power Tynan, the winner of last...

    • Type: Article
    • Author: Reporter
    • Category: Business

  3. Mid-tier set to ramp up wealth arm, international growth

    Off the back of significant growth in the last 12 months, one mid-tier firm has outlined its plans in the Asian market and with the wealth arm of its business for FY16/17. John Delmo, managing partner of McLean Delmo Bentleys, said the firm has grown...

  4. ‘Unannounced’ visits for ATO in pre-insolvency investigation

    illegal phoenix activity, with 80 officers conducting unannounced visits on two sites across Victoria, following 13 visits last August. A Fair Work Ombudsman report put the cost of illegal phoenix activity to the Australian economy at potentially more...

  5. ATO set for increased audits, debt crackdown

    A major win for the ATO in the Full Federal Court last week will boost the confidence of the commissioner in pursuing companies with related party debt, according to one mid-tier firm. Chevron’s loss of an appeal against the ATO in the Full Federal...

  6. Insolvency spike presents opportunity for accountants

    An increase in personal insolvencies over the last quarter offers a chance for accountants to bolster their service offerings to new and existing clients, according to a solvency and forensic accounting firm. Last week the Australian Financial Security...

  7. Six steps to scaling your firm: part 2

    Following part one of the six steps to scaling your firm through outsourcing, part two looks at the last three steps in how to use offshoring to grow your accounting firm. Accounting firms that wish to scale and grow often turn to outsourcing, but they...

  8. Big 4 firms’ liquidator role for property developer expands

    firm to be appointed liquidators of 19 companies associated with the Macro Group, of which they were appointed liquidator of last month. Last month the Federal Court appointed KPMG partners Hayden White and Matthew Woods as liquidators to six companies...

  9. Big 4 topples record for partner intake in 2017

    One big four firm has now officially locked in 91 partner admissions for 2017, up from last year’s record intake of 72, with the bulk of those appointments in the financial advisory division. A PwC Australia spokesperson told Accountants Daily its...

  10. The future of alternative lending

    We know that the funding space has undergone extensive change during the last decade, so what’s in store for the future? The introduction of fintech lenders has given SMEs more choice, and also spurred traditional lenders to update their offerings...

  11. Employers’ poor record-keeping leads to $13K backpay

    In another messy visa case and following the regulator’s inquiry last year, one employer backpaid two overseas workers $13,000. The British nationals were in Australia on 417 working holiday visas and casually worked at a regional farm for four months...

  12. Mid-tier questions new equity funding scheme amendments

    A mid-tier accounting firm has analysed the changes made by the government last week to the crowd-sourced equity funding scheme (CSEF), raising questions over the conditions of eligibility. Last week, Treasurer Scott Morrison announced the introduction...

  13. AMP distances business from jailed tax agent

    SMSF arm has distanced itself from a jailed tax agent who has been previously linked with one of its recent acquisitions. Last week, Arjuna Samarakoon was sentenced at at Melbourne County Courthouse to 29 months’ imprisonment with 18 to serve for his...

  14. Big four firm tips ‘natural appetite’ for more regulation

    of ASX 200-listed companies using the principles of integrated reporting in their annual reports has almost doubled over the last year, which is likely to pave the way for more regulatory standards professionals need to meet, according to a big four...

  15. Key CPA exec made redundant post-review

    has removed one of its highest-paid executives, following recommendations from former auditor general Ian McPhee’s review last year. Chief operating officer Jeff Hughes departed CPA Australia in late December 2017, after being with the association since...

  16. Debt collection stumbles in mixed bag report for GST

    The ATO’s annual GST administration performance report shows a decline in dispute numbers last year, but notable faltering on debt collection and on-time payment. The 2016-17 report shows the ATO raised $59.8 billion in GST cash, up 4.3 per cent from...

  17. Former big 4 exec named as new Actuaries Institute CEO

    four executive has been unveiled as the new chief executive of the Actuaries Institute after her predecessor resigned late last year. The Actuaries Institute has today confirmed the immediate appointment of Elayne Grace as chief executive, having served...

  18. Carbon Group merges with another accounting, bookkeeping firm

    Carbon Group has merged with a boutique accounting and bookkeeping firm, marking its ninth M&A in the last three years. Carbon Group co-founder, Jamie Davison, told Accountants Daily that clients have now been notified about the merger with Perth-based...

  19. CPA members to lobby for proxy vote breakdown

    CPA members are continuing the fight to have the geographical breakdown of proxy votes revealed in the wake of last week’s AGM, as concerns over the lack of transparency and openness from the Alex Malley-era returns. Last week, less than 7,000 members...

  20. ATO finds accounting firms with data, cyber security breaches

    to take proactive measures with cyber security this tax time, after a spate of incidences involving accounting firms last year. Speaking on the ATO’s Tax Time Cyber Security webinar, ATO chief information security officer, Jamie Norton said there were a...

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