Yesterday
The ‘massive’ tax exposure your family trust may be missing
Thousands of trusts are headed for a ‘vesting cliff’ that could trigger automatic asset liquidations and large – potentially unanticipated – tax bills
This Month
Whistleblower allegations spark parliamentary probe into KPMG Australia
Evidence about allegations of wrongdoing related to the handling of confidential client information has been shared with a powerful parliamentary committee.
KPMG allegedly misused Lendlease data to win audit work
The firm said two separate law firms had already examined the allegations but were “unable to substantiate any claims of wrongdoing”.
KPMG’s alleged dirty deeds at odds with CEO’s sermons
Perhaps Andrew Yates can use these latest claims as an “opportunity to learn” how to walk the talk on ethical standards.
EY staffer fined for using mobile phone during two accounting exams
The junior accountant was fined almost $6000 and his was membership suspended until 2027 for repeatedly using a mobile phone during exams - then lying about it.
PwC US boss says partners who resist AI have no place at the firm
Paul Griggs says the firm will start to offer alternatives to the traditional model of billing clients based on the number of hours worked by its army of staff.
Accountancy’s partnership pool at risk of running dry
The pool of senior staff in leading firms, particularly in the UK, is being drained by failures to attract – and retain – top graduate talent.
Nationals elect new leader; AI giant launches in Australia; Asia nears breaking point with oil shock
Read everything that’s happened in the news so far today.
KPMG executive assistants get the overseas trip from hell
It’s hard to pick whether the destination or the purpose of the trip is worse.
Former Star chief executive Bekier broke the law, but board didn’t
The Federal Court says the casino’s chief executive failed to manage the risk that junket operators were laundering money, but threw out ASIC’s other claims.
Court finds against ex-Star CEO; Kurdish incursion doubted; War could still trigger correction
Read everything that’s happened in the news so far today.
KPMG picks ex-Australia boss as next global chief
Gary Wingrove beat UK boss Jon Holt in a two-man race to lead the 276,000-person big four accounting firm internationally.
PwC leads big four firms in race to close gender pay gap
Big four consulting firms Deloitte, EY, KPMG and PwC now have gender-balanced workforces of at least 40 per cent at every income level.
February
KPMG takes Las Vegas during troubled times
Self-styled leadership conferences usually involve some aggrandising. But even then, it’s a push for the big four consultancies to paint themselves as winners.
KPMG partner fined for using AI to cheat – on an AI test
More than two dozen KPMG Australia personnel have also used artificial intelligence to cheat on internal exams since July.
KPMG demanded a discount from its auditor for AI cost savings
The big four accounting company’s move to cut fees for its own audit comes amid debate over pricing models now that artificial intelligence is being used.
Labor dodges push to cap big four partnerships at 400
The government has also sidestepped a bipartisan proposal to force Deloitte, EY, KPMG and PwC to separate the management of their audit and non-audit practices.
KPMG to outsource hundreds of executive assistants to the Philippines
The cut of 200 of its 260 support staff represents about 2 per cent of the big-four consultancy’s almost 9000-strong workforce.
January
Camilla fires PwC after review finds it owes millions in taxes
The luxury fashion retailer backed by the billionaire Forrest family said it found “certain legacy tax issues”, forcing it to restate financial accounts.
Finance heavyweights splash $75m on Palm Beach trophy homes
Three weekenders in Sydney’s holiday playground of the rich and famous have sold in separate deals.
