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  1. Aussie, European accounting networks team up

    without a merger. DFK International launched a “strategic alliance” with UK-based accounting network AGN International last week, after several months of negotiations late last year. The two businesses will remain separate entities, but will share...

  2. Aussie start-ups secure record level of funding: KPMG

    Despite a global lull in venture capital, local businesses attracted a landmark $5.84 billion in investment last year. Australian start-ups secured record venture capital funding of $5.84 billion in 2022, up 2 per cent on the previous year, despite a...

  3. Aussie SMEs reflect stability in Q2 2025: MYOB

    throughout the second quarter of this year, however, gross value added (GVA) was 5 per cent lower than the same period last year. The findings showed the strongest performing sectors over the three-month duration were mining, public administration and...

  4. Aussie SMEs faring better than international competitors, Xero data reveals

    better than other economies followed by the XSBI. The US, New Zealand and Canada all recorded negative sales growth in the last quarter. It was noted that Australia was one of the most effective economies at managing wage cost pressures and recorded the...

  5. Aussie businesses ‘held back’ by not embracing technology, cautions CPA

    to experience improved profits. “For example, of the businesses using AI, 76 per cent said their profitability increased last financial year, compared to 34 per cent that didn’t use AI,” it said. CPA Australia’s business investment and international...

  6. Aussie arm of NZ-based accounting firm closes

    Daily that the firm will be closing its Australian operations, effective immediately. Staff were informed of the decision last week, and clients are in the process of being informed. Mr Sheehan cited cost issues as one of the main factors behind what he...

  7. AusPost to refund $2.9m for lost, damaged parcels

    been entitled, and continue to be entitled, to consumer guarantee rights”. Australia Post Group self-reported its breach last May and signed a court-enforceable undertaking last week that mandated “rectification measures” to compensate business...

  8. Auditors urged to remain vigilant on businesses ‘cooking the books’

    over the next few years – my guess is that future data will show us that many zombie companies have been lurking for the last two years,” Mr Withane said. “We think that accountants are likely to see more clients in need of restructuring and turnaround...

  9. Auditors told to act now on looming quality management standards

    that proactively identifies and responds to risks in terms of quality”. Speaking at the SMSF Association National Conference last week, Ms Banton said the whole approach was more tailored to circumstances. “It’s not a one-size-fits-all cookie-cutter...

  10. Auditors set for name and shame for poor audit quality

    disciplinary processes for audit misconduct. CADB The review noted that ASIC had only referred six matters to CADB in the last eight years and only commenced one matter in court, due to RCAs voluntarily cancelling their registration prior to a CADB...

  11. Auditor-General launches JobKeeper audit

    bonuses while receiving JobKeeper support. Shadow assistant minister for Treasury Andrew Leigh had written to Mr Hehir last December with three specific lines of inquiry that he hoped the ANAO would consider, including determining how much JobKeeper...

  12. Auditor registration hurdles for small firm accountants impede supply

    and they can’t register me, so it makes no sense.” Davis said he has written to the ASIC chair around seven times over the last two years. While ASIC acknowledges receipt of his letters, he said his application has not progressed. Obstacles remain for...

  13. Auditor Proud Day hits decade of international recognition

    crucial role played by the auditors with today marking the 10th year of Auditor Proud Day. Auditor Proud Day lands on the last Thursday of every September and is aimed at attracting more people to the profession and celebrating those already working...

  14. Audit proposal to see fee hike, harsher penalties

    unless we do additional testing on the prior year’s figures, basically resulting in an audit of the financials since the last audit. Unless we complete this additional work we couldn’t sign off on the audit under the Australian Accounting Standards.” Ms...

  15. Audit proposal 'misdirected', says one association

    CPA Australia has also spoken out against the proposed measure, believing that it would unfairly target SMSF auditors. Last month, Super Sphere director Belinda Aisbett announced the establishment of the SMSF Auditors Lobby Group, aimed at opposing the...

  16. Audit pools may ‘ultimately fail’, audit firms warned

    issues relating to quality, delivery and fees, warns Hayes Knight. ATO director, SMSF portfolio, Kellie Grant stated last month that while it is best for firms to avoid entering into audit pooling arrangements in response to the restructured APES 110...

  17. Audit office reaches verdict following tax revenue hole

    the ANAO’s analysis of ATO data, the proportion of settlement variance for large businesses was less than 50 per cent in the last three years, often lower than other market segments and in 2015-16 was the lowest (26 per cent) among all market segments....

  18. Audit office damns ATO safeguards in wake of $2bn GST fraud

    BAS. The ATO said its Operation Protego had pursued more than 57,000 perpetrators of GST fraud and by the end of August last year, criminal investigations resulted in more than 100 arrests and 16 convictions. However, the ANAO cited a report by the...

  19. Audit independence: ASIC’s findings a call to improve, not cause for alarm

    rigorous professional standards, and strong company reporting and governance frameworks, writes Chris Freeland AM. Last week, ASIC released a report summarising its review of auditor compliance with independence and conflict of interest obligations...

  20. ATO’s late lodgement focus set to continue this year

    scrutiny this year, with the ATO still looking to see further improvement in this area, says an SMSF auditor. In February last year, the ATO launched a new compliance campaign targeted at late lodgements in response to concerns that a lapse in lodgement...

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