By Malavika Santhebennur
Audit regulation hasn’t kept pace with conduct of large firmsA superannuation body has argued that recent scandals at large accounting firms show regulatory oversight is weak at the firm level.
Tags: Superannuation, regulation, governance, KPMG, firm, audit, misconduct, conflict of interest, audit reform, audit regulation
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.
PROFESSION • Malavika Santhebennur
The accounting firm has reportedly cut its executive ranks in response to its audit misconduct scandal and a tough consulting market.
Tags: partner, costs, KPMG, remuneration, auditing, audit, misconduct, redundancy
PROFESSION • Malavika Santhebennur
ASIC has informed Mineral Resources that it will not take any enforcement action after an investigation into alleged tax evasion.
Tags: tax, ASIC, misconduct, investigation, company
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.
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.
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.
Tags: NAB, governance, KPMG, risk, Big Four, audit, audit reform
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.
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".
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.
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.
Tags: CGT, tax, legislation, tax reform, policy, negative gearing, the tax institute, reform, submission, consultation, tranche 2