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PROFESSION

By Malavika Santhebennur

CA ANZ calls for ‘firm-level’ ASIC jurisdiction on audit firms

CA ANZ has urged the government to license firms and give ASIC clear jurisdiction over the firms whose “audits matter most to the public interest”, calling this the central reform.

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Nexia Sydney appoints chief strategy and growth officer

PROFESSION • Miranda Brownlee

The firm says the newly created role reflects its commitment to accelerating its next phase of growth.

Tags: News, Strategy, growth, EY

TPB’s interim suspension powers could lead to ‘devastating’ consequences: CPA

PROFESSION • Miranda Brownlee

The amending regulations for the Tax Practitioner Board sanctions reforms fail to recognise the high threshold that was intended to apply to the interim suspension powers, the professional body has warned.

Tags: News

Federal Court finds beauty company breached continuous disclosure laws

PROFESSION • Malavika Santhebennur

A health, beauty, and wellness company has been found liable for breaching continuous disclosure laws and misleading investors.

Audit regulation disproportionate, multidisciplinary firms must remain, BDO says

PROFESSION • Carlos Tse

The firm stresses that audit regulation must be a key focus in Treasury’s new regulatory frameworks for firm regulation, highlighting inconsistencies in regulation across firm structures.

Former KPMG partner’s foggy memory a ‘misjudgement’, apologies ‘flying around’

PROFESSION • Malavika Santhebennur and Carlos Tse

Expelled former KPMG partner Eileen Hoggett took the mic at the latest KPMG hearing to reflect on her removal from the partnership and her recollection of storing confidential documents found in her locker.

KPMG instructed to disclose any payments made to staff who raised wrongdoing

PROFESSION • Malavika Santhebennur, Naomi Neilson and Carlos Tse

Former KPMG partners have been grilled during a parliamentary hearing, where they were ordered to disclose any payments made to whistleblowers over the past decade.

Audit teams’ AI use common but most lack strategy

PROFESSION • Malavika Santhebennur

New research by Gartner has shown that the majority of audit leaders report using AI to some degree, but only a small proportion have implemented an AI strategy.

Settlement payment to tax division whistleblower 'had no impact on investigations', says KPMG

PROFESSION • Malavika Santhebennur

The big four firm has confirmed that a settlement was reached with a whistleblower who alleged wrongdoing within the firm's tax division three decades ago but asserts the payment had no impact on investigations into the matter.

Recruitment firm fined for financial reporting failures

PROFESSION • Malavika Santhebennur

ASIC’s crackdown on financial reporting misconduct has continued, with a recruitment firm the latest to face penalties for failing to meet its obligations.

Liquidator publicly reprimanded for failing to do his duties

PROFESSION • Malavika Santhebennur

A registered liquidator has been publicly reprimanded for failing to adequately carry out his duties.