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PROFESSION

By Malavika Santhebennur

Top 100 public groups show strong assurance results

Tax Office data has revealed high levels of assurance across large and public multinational businesses.

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Capping accounting partners weakens audit quality: EY Australia

PROFESSION • Malavika Santhebennur

The accounting giant has refused to back limits on partner numbers at accounting firms and has said this would not address governance concerns at large partnership firms.

Draft laws unveiled for EV FBT changes

PROFESSION • Malavika Santhebennur

The government’s draft legislation outlines how the FBT exemption for EVs will be trimmed in three phases from 2027 to 2029.

Former auditor faces 3-year suspension, receives $94k costs order

PROFESSION • Carlos Tse

After failing to complete three audits of NDIS scheme accommodation in line with the Australian Auditing Standards, a former auditor has had his registration suspended until mid-2028 and has been ordered to pay nearly $94,000 in costs.

Registered liquidator cancels registration after ASIC flags concerns

PROFESSION • Malavika Santhebennur

A liquidator who was forced to repay ASIC over $24,000 in 2015 has cancelled his registration following questions over whether he was a fit and proper person to stay registered.

PwC calls audit firm rotation measure ‘interventionist’

PROFESSION • Malavika Santhebennur

The large accounting firm has rejected a Treasury proposal that would limit how long an audit firm could be appointed as auditor of a reporting entity.

Company fails to prove insolvency, losing $7m claim against Tax Commissioner

PROFESSION • Carlos Tse

One company has failed in its arguments of unfair preference and insolvent transactions to secure $7 million in repayments from the Tax Commissioner, who identified an alleged insolvency as a “mere presence of a liquidity problem”.

BDO Australia appoints former KPMG director as tax partner

PROFESSION • Carlos Tse

The firm has welcomed a former big four director to its international trade and customs team in Sydney.

Acute shortage of audit professionals expected by 2035

PROFESSION • Malavika Santhebennur

A new report has forecast a looming workforce gap in the accounting profession, particularly among junior external auditors.

Deloitte opposes partnership limit for accounting firms

PROFESSION • Malavika Santhebennur

The big four firm has refused to support a proposal to slash the partnership limit for accounting firms, arguing it would have “significant” negative impacts.

‘I smell a rat’: Greens decry KPMG defence deal amid federal contract ban

PROFESSION • Malavika Santhebennur

The government has been slammed for signing two new defence contracts with KPMG Australia while it has a temporary freeze on the firm.