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PROFESSION

By Matthew Taylor

KPMG reviews operating model amid audit misconduct scandal

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.

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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.

KPMG discloses new evidence to regulators regarding whistleblower allegations

PROFESSION • Miranda Brownlee

KPMG’s chief executive has apologised for the firm’s “serious breach of trust” after an Allens investigation confirmed allegations that client information was inappropriately retained in a locker by former chief operating officer Eileen Hoggett.

‘A serious matter’: KPMG agrees to withdraw from Victorian government contracts

PROFESSION • Carlos Tse

In line with the Commonwealth of Australia’s independent review into KPMG, the big four firm has agreed not to bid for new work with the Victorian government and to withdraw from most of its current tender processes.

Whistleblower process 'fraught with complexity and uncertainty' says Mulino

PROFESSION • Matthew Taylor

Minister for Financial Services Daniel Mulino has said the review of whistleblower legislation will aim to simplify arrangements for whistleblowers and address gaps in legal protections.

KordaMentha launches specialist tax controversy and disputes team

PROFESSION • Matthew Taylor

Business management consultancy KordaMentha has established a specialist tax controversy and disputes team to enhance its independent advisory capabilities and assist businesses navigating complex ATO reviews, investigations, and litigation.

ASIC issues warning to company auditors as part of misconduct crackdown

PROFESSION • Miranda Brownlee

The corporate regulator has said it will undertake enforcement action against any auditor who fails to uphold professional and ethical standards in a letter recently issued to all company auditors.