Yesterday
Readers want government to cut debt, rein in spending
Almost 60 per cent readers want Treasurer Jim Chalmers’ federal budget priority to either reduce debt or reign in government spending in this year’s budget - but another 24 per cent want cost-of-living relief to be the focus.
Global push to get tax advisers to think ethically
New rules have been agreed to help restore trust in a profession battered by wrongdoing, including the PwC tax leaks scandal.
This Month
Big four accountants could face partner limits in governance crackdown
The big four accounting firms could be forced to slash partner numbers and incorporate their consulting businesses under a crackdown on governance standards flagged as a possible response to the PwC tax leaks scandal.
- Updated
The 24 questions Treasury has about the big four consulting firms
The 16 “potential issues” raised by Treasury and the 24 questions it would like responses to about the structure of the firms and the wider sector.
- Opinion
- Audit quality
Treasury questions the very nature of the big four consulting firms
Get ready for war as they fight back against suggestions they are too big, incapable of governing themselves and have compromised auditing roles.
April
- Exclusive
- Big four consultants
EY to cut 100-plus staff amid advisory downturn
The big four firm will cut more than 100 roles next week, or about 1 per cent of its 10,000-strong workforce, due to the downturn in the consulting market.
Deloitte to appoint independent members to board
Deloitte Australia will appoint independent members to its 10-person board to provide an external perspective on the way the big four firm operates.
ASIC smooths the way for UK auditors to work in Australia
The Australian corporate regulator and the UK’s audit regulator will allow statutory auditors to have their qualification more easily recognised in either jurisdiction.
Big four partners split 44pc of income to cut tax bill: ATO
Big four consulting firm partners distributed $1.2 billion of their collective $2.7 billion profit via trusts and other income splitting measures to reduce their tax bill, the ATO says.
Large companies must file climate reports from 2025
Large companies have been given a six-month reprieve on including climate-related information in their financial reports.
US regulator fines PwC Australia for late disclosure of leaks scandal
PwC Australia was sanctioned for failing to disclose that it was being investigated for more than a year, in the latest fallout over its tax leaks scandal.
- Updated
March
Sayers evidence on PwC tax leaks ‘implausible’, Senate finds
A Senate committee has called testimony by former PwC Australia chief executive Luke Sayers “implausible” and questioned the “truthfulness” of aspects of his evidence.
PwC cover-up of tax leaks scandal ‘worsens the crime’: report
A Senate committee said PwC Australia had yet to demonstrate that it has reformed its operations “beyond superficial commitments to change”.
- Updated
KPMG hands CEO Yates another three years
The board of KPMG Australia has extended the leadership term of Andrew Yates to June 2027.
Watchdog gives auditors a ‘nudge’ to better identify fraud
International standard setters also want auditors to explicitly say when they agree with management’s assessment that their company is a “going concern”.
The five partners with ultimate power over the $81b PwC global network
The once-secret agreement between PwC International and its member firms gives the global network leadership team sweeping control powers of “defaulting” firms.
New system to track labour hire in government
A new Department of Finance database will provide the first-ever consolidated view of the use of labour hire throughout the federal government.
PwC appoints ex-Stockland exec as new chief people officer
PwC Australia hires Stockland’s Karen Lonergan as the big four firm continues to push through reforms to its operations following the tax leaks scandal.
Senators slam PwC global boss for rejecting tax leak request
Bob Moritz has been accused of acting ‘like Dr No’ after refusing to provide the legal report into PwC International’s involvement in the firm’s tax leaks scandal.
- Updated
Why this strategy consulting firm avoids cutting staff during a downturn
Strategy consulting firms have to bide their time during recessions until clients have exhausted ways of quickly cutting costs, says a veteran of the field.
