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PROFESSION

By Carlos Tse

Xero welcomes new senior VP as CTO steps down

Xero’s chief technology officer has resigned, and the platform has appointed a new senior vice president to its engineering, payments, and AI transformation team, who will start in August.

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ASIC initiates legal action against auditors in First Guardian collapse

PROFESSION • Matthew Taylor

ASIC has launched Federal Court proceedings against Auditeo Australia and two auditors over alleged serious audit failures linked to the First Guardian Master Fund.

Builder loses appeal against winding-up notice for debts over $100k

PROFESSION • Carlos Tse

A construction company has failed to convince the court that it was solvent after it was issued a winding-up application for unpaid subcontracting work allegedly worth over $100,000.

Government must rectify gap in whistleblower protections for breach reporting

PROFESSION • Miranda Brownlee

The Tax Institute has urged the government to address the gap between the breach reporting obligations for registered tax and BAS agents and access to whistleblower protections under the tax whistleblower regime.

Restructuring valuations an opportunity for tax agents, valuer says

PROFESSION • Carlos Tse

With small businesses turning to valuation practitioners to assist them in the restructuring process out of discretionary trusts, and with impending CGT changes on 1 July 2027, one valuation expert has said that this poses an earning opportunity for tax practitioners.

KPMG reviews operating model amid audit misconduct scandal

PROFESSION • Matthew Taylor

The big four firm says final decisions regarding potential cuts to roles are yet to be made as the firm reviews its broader operating model.

FAAA pushes for stronger whistleblower protections for professional associations

PROFESSION • Matthew Taylor

The association has called for whistleblower protections for individuals and entities who disclose information to professional bodies, along with other changes.

Accounting firms pivoting further into advisory, NAB report reveals

PROFESSION • Matthew Taylor

Accounting firms are increasingly shifting their focus from traditional compliance roles to advisory services, such as strategic guidance and analytics, to cultivate deeper relationships with their clients, according to a NAB report.

Cyber extortion group claims EY US hack

PROFESSION • David Hollingworth

Infamous cyber extortion group ShinyHunters has given the professional services giant until the end of the month to pay up or face a data leak.

SME owner loses case after $500k renovation, underpaying workers to pay tax debt

PROFESSION • Carlos Tse

The Supreme Court of ACT has dismissed a massage parlour owner’s proceedings against a solicitor, administrators, and an insolvency practitioner who assisted him with putting his debt-ridden business under voluntary administration.

ASIC intensifies enforcement against SMSF audits

PROFESSION • Matthew Taylor

The corporate regulator has pursued administrative action against 36 approved SMSF auditors between January and June this year, increasing the total actions against SMSF auditors to 64 for FY26.