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PROFESSION

By Malavika Santhebennur

You can’t ‘just say AI told me’: ATO lays out position on taxpayer use of AI

As the ATO develops public advice on guidance on taxpayer use of AI in tax affairs, it emphasised that the onus of accuracy ultimately lies with the taxpayer and their accountant.

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Trust in professional services essential to long-term success

PROFESSION • Carlos Tse

With significant change underway across all industries, driven in large part by the growth of AI and technology, it’s important to remember what truly matters in professional services: nurturing relationships built on trust, so clients feel confident and supported no matter how the landscape evolves, writes Steve...

Taxpayer fails to have interest waived on unpaid land tax

PROFESSION • Malavika Santhebennur

A taxpayer’s application to waive interest charged on his unpaid land tax for 2025 and 2026 across five NSW properties has been rejected after he failed to prove it was justified.

Corporate reporting entities stress collaboration, strong documentation for sustainability reporting

PROFESSION • Carlos Tse

Some of Australia’s biggest companies reflected on how they tackled the first wave of mandatory sustainability reporting at an accounting body’s event earlier this month.

Directors don’t need to be finance experts for financial statement reviews

PROFESSION • Carlos Tse

While some company directors may not have significant financial acumen, they must ensure that the company’s financial statements are properly prepared to avoid potential penalties.

Reporting thresholds for proprietary companies ‘arbitrary’

PROFESSION • Malavika Santhebennur

The government’s proposal to double the large proprietary company thresholds is “purely arbitrary” and without basis, according to a financial reporting and auditing specialist.

ASIC’s approval of auditor applications stubbornly low

PROFESSION • Malavika Santhebennur

The corporate regulator approved less than a quarter of all auditor applications in 2025–26 even as auditor numbers shrank, according to a new report.

Brisbane developer fails to dodge a nearly $500k payout to Starbucks Australia

PROFESSION • Carlos Tse

The Supreme Court of Queensland has dismissed a Brisbane developer’s dispute against a creditor’s statutory demand from tenant Starbucks Australia.

ASIC accepts auditor registration cancellation

PROFESSION • Malavika Santhebennur

The corporate regulator has agreed to cancel the registration of a company auditor after surveillance found audit quality concerns.

Grant Thornton appoints new financial advisory partner

PROFESSION • Carlos Tse

The mid-tier firm has welcomed a new partner to its financial advisory practice in Brisbane, who brings deep transaction experience.

Big 4 misconduct reports to ASIC pile up to 153

PROFESSION • Malavika Santhebennur

In 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.