PROFESSION • Carlos Tse

The federal government has released its climate reporting results as large entities continue work towards mandatory climate reporting requirements, revealing a nearly 30 per cent decrease in climate impact.

PROFESSION • Malavika Santhebennur

The excluded election trust is only a band-aid solution to the myriad issues that were raised in the original draft legislation on discretionary trusts, demonstrating that it was not “well thought through”, an accountant said.

PROFESSION • Malavika Santhebennur

An accountant has panned the government for applying a blanket rule to every discretionary trust without sufficient consultation or examining the data.

PROFESSION • Amelia McNamara

It is almost commonplace to see departing high-ranking executives walk away with substantial payouts, even when implicated in wrongdoing. Employment lawyers break down how these payments work, and whether payouts are contractually stipulated or, as the public often contends, a “reward for failure”.

PROFESSION • Malavika Santhebennur

The IPA has defended the legitimate use of discretionary trusts and argued that the potential double taxation of corporate beneficiaries “goes beyond that policy intent”.

PROFESSION • Carlos Tse

Two accountants have been found to have breached their fiduciary duties owed to their client after they urged him to buy a slice of their property, leaving him with nothing and them nearly half a million dollars richer.

PROFESSION • Malavika Santhebennur

ASIC has issued more than $4.3 million in infringement notices to 22 companies for alleged failure to lodge financial reports on time for FY25.

PROFESSION • Carlos Tse

The global accounting network has promoted the chairman of its Australian operations to lead the network’s board, as the previous chairman completes seven years in the role.

PROFESSION • Malavika Santhebennur

The corporate regulator has asked the six largest audit firms to develop action plans to address findings of potential breaches of auditor independence requirements.

PROFESSION • Carlos Tse

Accruing $16 million in payable guaranteed service level payments to customers, a major Victorian energy supplier failed in its appeal against the Commissioner of Taxation’s GST assessment, after the Federal Court ruled that it was involved in direct supply of services.