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  1. Auditor Proud Day toasts the profession with tea and cupcakes

    It’s a time to reflect on the challenges and embrace a pivotal role in sustainability, say leaders. Auditors everywhere today will be toasting their place in the financial universe and contemplating challenges facing the profession, especially...

  2. BDO recruits three partners away from rivals

    capital structuring, procurement, divestments and public-private partnerships. Mr Tracey joins from KPMG where he was the lead partner of the firm’s Penrith office. BDO said that Mr Tracey was deeply entrenched in the Western Sydney business market and...

  3. What BBlood Enterprises case means for s100A

    or what was done was more than was required to achieve the desired objective. If the dealing is “overly complex” this might lead one to the view that the dealing was not ordinary. The negotiations and arrangements prior to making the agreement do not...

  4. EV take-up by long-distance commuters ‘key to reducing emissions’

    EV would save 1.5 times that of one in Neutral Bay, Sydney. “Replacing one conventional vehicle in an outer suburb could lead to much higher emissions reductions than replacing one in an inner city,” said KPMG leader of planning and infrastructure...

  5. ASIC outlines key strategies for crypto regulation

    of individual regulators, nor global borders.” “Market fragmentation and the risk of inconsistent regulatory treatment can lead to arbitrage and expose consumers to greater harm.” Mr Hughes was also concerned that the majority who invest in crypto fail...

  6. Revenue ‘too reliant on income tax, with or without stage 3 cuts’

    same amount of revenue but not necessarily create the same level of distortion in the Australian economy.” Mr Smith, who was lead author of this week’s Deloitte Access Economics October Budget Monitor report, said the real question was: “What level of...

  7. Tassie food outlets forced to back pay workers $120,000

    entitlement should come forward for help.” The FWO also warned the non-compliant businesses that any future breaches could lead to higher-level enforcement action being taken.

  8. Preparation and speedy response key to cyber protection, experts say

    to upscale an attack... for example if you are a contractor or part of the supply chain of a larger organisation, this can lead to a compromise of your business partners.” As individuals become increasingly concerned regarding personal data being...

  9. Politicians damned for ‘dumb’ attempts at tax reform

    Australia “saddled with some of the most difficult tax rules to comply with and to administer”. “The failure to properly lead a conversation, to avoid being railroaded by one section over another, to fail to articulate a program of change that is good...

  10. Space tech will transform ESG reporting, says EY 

    in accurately conducting their environmental, social and governance (ESG) reporting according to EY. EY Space Tech Lab leader Anthony Jones said space technology would become as crucial to businesses as GPS, which enables the precision timing that...

  11. [CPD] PCG 2021/4 : How to advise your clients on professional firm profits

    tax rate of between 30% and 35% otherwise the ATO will review your client and start the "please explain" process that may lead to a tax audit. If you don't advise your clients about this now - and the extra tax they will need to pay for the 2023 year -...

  12. Property still a big SMSF advice issue, says AFCA

    still continue to account for a sizeable portion of SMSF disputes, says AFCA. Speaking at a recent event, AFCA acting lead ombudsman, Shail Singh said that property investments in SMSFs continue to be one of the bigger dispute areas for SMSF advice. For...

  13. Brisbane food shops forced to back pay workers over $400k

    and matters with two businesses were ongoing. The ombudsman warned non-compliant businesses that any future breaches could lead to higher-level enforcement action taken by the body. The Brisbane audits came after the FWO conducted surprise inspections...

  14. Are you the ‘average accountant’? Census data gives up its secrets

    through from university, combined with the overall aging of the population. Insights to consider: An aging workforce can lead to large waves of workers retiring. The accounting industry should consider how to attract younger people to the profession to...

  15. Grant Thornton revamps executive team to target ESG

    and support the delivery of our strategic priorities,” he said. “This new executive will develop the capability of our leadership team and provide opportunities for different roles and challenges.” “In addition, a market opportunity has arisen in ESG...

  16. Insolvencies enter ‘unchartered waters’ during holiday break

    we will start to see further enquiries and more distress,” she said. The ATO cautioned against insolvency advice “that could lead to illegal phoenix activity” in an update last week. “Some insolvency advisers suggest actions designed to help directors...

  17. Small business must be ruthless over payments: CreditorWatch

    payments was starting to have a serious impact. “Trade receivables continue to decline and trade payments defaults, a lead indicator of insolvencies, are at their highest point since October 2020,” he said. “Small businesses are crying out for...

  18. Anxious Aussie FTX investors await creditor meeting for clarity

    cryptocurrency business has reignited calls for greater regulation of the industry and exchanges, with Australia striving to lead the world with a token-mapping project. “We are closely monitoring the fallout from the FTX collapse, including further...

  19. KordaMentha expands financial crime division

    proactively manage their regulatory risk,” she said. She said Mr Storey’s appointment “strengthened the firm’s position as leader” in financial crime advisory. “Richard is a wonderful addition to our team and will become a real asset to our clients and...

  20. What Labor’s IR bill means for accountants

    extend for any longer than two years.” He said the government had proposed the changes as it found that fixed-term contracts lead to insecure work, it was trying to rectify. “I think these changes can be quite far reaching,” said Mr Nicolazzo. “I know...

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