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PROFESSION

By Malavika Santhebennur

Audit regulation hasn’t kept pace with conduct of large firms

A superannuation body has argued that recent scandals at large accounting firms show regulatory oversight is weak at the firm level.

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Climate transition guidance needs investor-friendly resources, says CA ANZ

PROFESSION • Carlos Tse

While the professional body has welcomed the government’s guidance on climate‑related transition planning, it has called for more targeted resources for investors and further policy development to enable corporate action on the transition.

KPMG trims senior partner ranks to cut costs

PROFESSION • Malavika Santhebennur

The accounting firm has reportedly cut its executive ranks in response to its audit misconduct scandal and a tough consulting market.

ASIC ends alleged tax evasion investigation into minerals company

PROFESSION • Malavika Santhebennur

ASIC has informed Mineral Resources that it will not take any enforcement action after an investigation into alleged tax evasion.

Former KPMG partner launches legal action against firm

PROFESSION • Miranda Brownlee & Malavika Santhebennur

The former chief operating officer has initiated legal proceedings in the Supreme Court of NSW against KPMG after being expelled from the firm last month.

Tags: News, legal, partner, AI, KPMG, firm

Macquarie director met senior KPMG staff 3 times during audit tender

PROFESSION • Malavika Santhebennur

Michelle Hinchliffe, Macquarie director and a former KPMG partner, had contact with key KPMG personnel while the accounting firm was bidding for Macquarie’s audit contract, the bank has admitted.

Structural separation an ‘untenable’ risk to audit quality: KPMG

PROFESSION • Malavika Santhebennur

The accounting firm at the centre of an audit misconduct scandal has argued against mandating structural separation to combat conflicts of interest in multidisciplinary firms.

It's time to 'break up' the big 4, thinktank says

PROFESSION • Malavika Santhebennur

The Australian Institute has said that the scandal-ridden big four accounting firms should undergo a structural separation to address conflicts of interest.

Audit sector quality, professionalism 'remains strong': AICD

PROFESSION • Miranda Brownlee

The Australian Institute of Company Directors has said it supports reforms to improve the governance and accountability of audit firms but rejects the idea that audit quality in Australia is experiencing "systemic decline".

Tags: News, AI, audit

PwC CEO wins final term in majority election

PROFESSION • Carlos Tse

The big four firm has reappointed Kevin Burrowes as chief executive for a second and final term, following his win by majority partner vote.

Tags: News, pwc, 505, ceo

‘This is not how good tax policy should be developed’: The Tax Institute slams tax reform process

PROFESSION • Malavika Santhebennur

With Treasury flagging that further tranches of legislation are needed for the CGT and negative gearing reforms, a submission argues this only increases uncertainty and costs to taxpayers.