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  1. ASIC chair to step down despite being cleared of wrongdoing

    interests of ASIC”, a new chair should be appointed. Mr Shipton will resume in his role on Monday, after stepping aside late last year, and will leave once his successor has been named. The Treasury has kicked off its search process, with an appointment...

  2. ASIC chair Joseph Longo to step down

    including a doubling of ASIC’s investigation numbers and a 20 per cent increase in civil enforcement proceedings over the last five years. ASIC had also received greater funding to stabilise critical business registers and produced landmark reports and...

  3. ASIC bans director behind $50m Magnolia Group collapse

    Atkins of Erina, NSW, was a director of the Magnolia Capital Group of companies which operated from 2018 until it collapsed last year. Businesses in the group provided financial advice and services in relation to secured lending transactions and share...

  4. ASIC bans accountant over $73m failure

    in three failed companies that collectively owe creditors over $73 million. The ban from ASIC comes after Mr Brandi had last week pleaded guilty to fraudulently obtaining $135,248 in GST refunds by falsifying business activity statements lodged on...

  5. ASIC bans 2 directors over string of failed companies owing $9m

    more companies within the group have entered liquidation since it decided to disqualify Mr Kelly and Mr Farrelly in October last year. These included KFT Group, Stormer Building Group No 2, Stormer Building Group, 3 Property Group 4 and Lifestyle Homes...

  6. ASIC asks for small business sector's feedback

    regulator's services and engagement with the small business sector. This is ASIC’s second small business survey, with the last survey (conducted in late 2012) resulting in the establishment of ASIC's Small Business Engagement team. This team is focused...

    • Type: Article
    • Author: Michael Masterman
    • Category: Business

  7. ASIC already shadow shopping as deadline looms

    body noting that compliance activity is set to ramp up in 2016. Speaking at the IPA’s National Congress on the Gold Coast last week, executive general manager Vicki Stylianou warned that ASIC is treating the accountants' exemption phase-out as a “hard...

  8. ASIC acts against 15 auditors over in-house audit concerns

    These latest actions taken by ASIC follow the compliance action it undertook against nine auditors in the December quarter last year for conduct that did not meet the required standards. This included concerns about compliance with auditing and...

  9. ASIC may ‘come knocking’ despite exemption, accountants told

    shadow shopping and compliance activity. Speaking at a Chartered Accountants Australia and New Zealand (CAANZ) conference last week in Sydney, The Fold Legal solicitor director Jaime Lumsden Kelly said ASIC would “come knocking” if the regulator became...

  10. Ashneel Kumar - The Trusted Guide with Energy

    A 2026 Australian Accounting Awards finalist, Ashneel and his team were also finalists across multiple categories at last year's awards, including Boutique Firm of the Year and Partner of the Year. How did you start down this career path? My background...

    • Type: Article
    • Author: Rise Accountants
    • Category: Profiles

  11. ASFA defends super scam reputation against ASIC

    the security of the superannuation system and scam protection methods following commentary from ASIC claiming it was weak. Last week, an open letter signed by commissioner Simone Constant stated superannuation trustees’ anti-scam practices were...

  12. Ascendant mid-tiers boost partner ranks as big 4 scale back

    as middle market adviser of choice”. RSM set a goal of having 1,750 staff in 2024. A raft of appointments at the end of last year took total numbers to over 1,800 by November. O’Rourke also commended 18 of the 22 appointments being internal promotions –...

  13. ASBFEO’s small business indicator reveals decline in conditions

    launched by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has shown that conditions over the last 12 months for small businesses have deteriorated by 3.5 per cent. ASBFEO Bruce Billson said the ‘Small Business Pulse’ is an...

  14. Artificial intelligence ‘nothing to fear’

    “AI is everywhere and we use it every day,” Andrew Conway told the IPA Nation Congress at Surfers Paradise, Queensland, last week. “Stop losing sleep that your practice value is dropping because of AI. Or that the business that you're in or your role is...

  15. ART affirms TPB decision on registration of tax agent

    has upheld a decision by the TPB to reject a former tax agent’s request for registration as a tax agent. In a decision last week, the Administrative Review Tribunal of Australia (ART) has affirmed a decision by the Tax Practitioners Board on an...

  16. Are you ready for tax time?

    for; Have you set up for Single Touch Payroll, which comes into effect from 1 July, 2019 for small businesses? Ensure that last minute tax planning opportunities have been implemented, including writing off potentially deductible bad debts, deferring...

  17. Are you engaging your clients in a compliant way?

    When was the last time you updated your engagement letter? The Tax Practitioners Board recommends engaging your clients annually, at a minimum. We know you don’t have time to formally engage your clients every year, despite the recommendation from the...

    • Type: Article
    • Author: Practice Ignition
    • Category: Business

  18. Are we witnessing a skills recession?

    of Australian companies are experiencing skills shortages. Another 40 per cent said these issues have intensified in the last year, and 78 per cent believe this will negatively impact growth plans. Matthew Dickason, Hays Asia-Pacific chief executive,...

  19. Are federal policies working against small businesses?

    cent, respectively. Conversely, support from Queensland SMBs has seen the most positive change, growing by 5 per cent from last quarter to 36 per cent. Positive sentiment across all other states held steady quarter on quarter, except for Western...

    • Type: Article
    • Author: Cameron Micallef
    • Category: Business

  20. Are banks leaving your clients in the lurch?

    couldn’t cope. They refused to temporarily increase the overdraft and they wanted the client to refinance. We didn’t ignore last year’s net profit of over $1 million, the substantial cash flow, the flexible and receptive attitude of the directors, and...

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