By Jerome Doraisamy
Big 4 misconduct reports to ASIC pile up to 153In its latest update, the corporate regulator has said it has received more than 150 reports of misconduct relating to the big four accounting firms over the past three years, up from reported figures in September.
Tags: News, regulation, report, KPMG, Big Four, ASIC, allegations, big 4, Parliamentary Committee, misconduct, reports
PROFESSION • Carlos Tse
Following the rescission of a financial advice agreement due to a provider not holding an Australian Financial Services Licence, one company has won against claimed creditors who sought over $70,000 in allegedly unpaid fees.
Tags: News, insolvency, firm, advisory, law, winding up, supreme court of nsw
PROFESSION • Amelia McNamara
KPMG’s response to the whistleblower matter has been identified as misguided, fragmented, prolonged, and often lacking clear ownership, following a whistleblower’s disclosure of unethical conduct and a poor speak-up culture.
Tags: News, report, governance, KPMG, firm, independent, whistleblower, audit, 381, 352, accountability, 339, 319, culture, 417, 617, 754, procurement, indepdent report
PROFESSION • Malavika Santhebennur
The minimum tax on discretionary trusts bill has continued to ruffle feathers among tax professionals around the lack of consultation and technical issues.
Tags: tax, consultation
PROFESSION • Malavika Santhebennur
The top performers in corporate accounting have been named as winners in the second annual Corporate Accountant Awards.
PROFESSION • Malavika Santhebennur
Despite rating it as the new AML/CTF obligation they dread the most, a fifth of accounting and other businesses have not done their mandatory risk assessment, according to a survey.
Tags: News, AML/CTF, legislation, compliance, AML, risk, accounting, law, accountants
PROFESSION • Malavika Santhebennur
CreditorWatch has warned that businesses could face a heightened level of insolvency risk as mounting cash flow pressures see a deterioration in payment behaviour.
Tags: News, tax, interest rates, insolvency, payments, CreditorWatch, cost-of-living
PROFESSION • Carlos Tse
Twenty-one Visy and Pratt companies have received infringement notices, each worth nearly $200,000, after the Australian Securities and Investments Commission found that they failed to lodge their FY2024–25 financial reports.
Tags: News, ASIC, infringement notice, 484, 566, reports, financial reports, fy25
PROFESSION • Malavika Santhebennur
While noting that boosting GST has become a “political no-go zone”, the Grattan Institute has pushed to raise and expand it to include all food, even as cost-of-living pressures mount.
PROFESSION • Naomi Neilson
Medicheckr has been wound up despite submissions that its taxation faults were due to the accountant’s health issues.
PROFESSION • Malavika Santhebennur
The 30 Under 30 Awards, produced by Accounting Times’ sister brand, Accountants Daily, is coming in early 2027 and is now accepting submissions and nominations from the stellar young accounting professionals of Australia.
Tags: News, Events, Momentum Media, Awards, war, accounting, 223, 460, 586, 30 Under 30 Awards, 2027