Yesterday
Bids fly for Top Shelf International assets
Street Talk understands Longreach Credit Investors has fielded a $20 million bid for a collection of Top Shelf’s assets.
March
ATO alleges ex-EY partner ‘lined his pockets’ with client money
A former EY partner received secret commissions from clients by not disclosing relationships with companies he used to facilitate illegal tax schemes, the Tax Office alleges.
Former EY partner being sued by ATO challenges tax assessment
Peter White is accused of promoting three illegal tax schemes to seven clients and taking $700,000 in secret commissions.
EY proposes massive restructure, merging divisions to find growth
The accounting and consulting major is proposing to end its overarching geographic groupings and merge regions in a move that will likely result in job losses.
Former EY partner Jason McLean moves to PwC
The move is part of a push at PwC Australia to beef up its financial services advisory offering.
Rio’s Australian shareholders to vote on London listing question
The mining giant faces a push from activist investors to reassess its dual-listed structure and leave the London Stock Exchange like major rival BHP did.
February
Inflation holds steady; WiseTech shares rise; EY to cut 100 staff
Read everything that’s happened in the news so far today.
Job cuts loom at EY as firm reconsiders stand-alone legal practice
The consulting giant’s local chief executive, David Larocca, has warned staff that a proposed restructure could lead to redundancies.
Accenture’s DEI exit could draw disgruntled men from big four
Male consultants who feel gender targets have blocked their paths to partnership might see fresh opportunity at the tech consulting giant.
January
Labor pays private equity giant $50m to keep Rex from the scrapheap
Labor has confirmed it will spend $50 million buying out private equity giant PAG Asia Capital, giving the administrators more time to find a willing buyer.
BDO poaches big-four talent as partnership hits record high
The country’s fifth-largest accounting firm by revenue has surpassed the 300-partner milestone as it ropes in staff from larger rivals.
December 2024
EY sues five partners who left for Alvarez & Marsal
The civil action comes as EY’s leadership asks at least eight partners to leave as part of a cost-cutting exercise.
EY seeks buyer for $60m-a-year revenue data centre infrastructure biz
Street Talk understands EY’s deal team has been appointed to sell the18-year-old business which makes around $60 million revenue.
Boutique consultancy thrives in difficult market for major firms
Specialist advisory firm Lumenia has quickly built up a roster of clients thanks to its ability to take on smaller projects and adapt to changing customer needs.
‘Eat what you kill’: How this consultancy is taking on the big four
Alvarez & Marsal’s remuneration model means managing directors can potentially earn multiples of the average big four partner pay.
What Defence spent on consultants could run submarine fleet for a year
What would Defence’s $811 million in spending on the big five consulting firms in 2022-23 buy? Turns out the answer is quite a lot.
The ASX-listed distiller behind Ned whisky puts itself up for sale
Top Shelf has brought in EY as it considers its options; several interested parties are conducting due diligence on all or part of the business.
November 2024
The big winners as scandal forces big four into retreat
Mid-sized firms such as those run by Steve Meyn of PKF, Jamie O’Rourke of RSM and Annabelle Clare of Walshs had their best year on record as clients move away from out-of-favour big players.
Capping big four partnerships would ’cause great disruption’
Two conservative members of an inquiry committee that recommended capping accounting partnerships at 400 said the move would be an “extraordinary intervention” by the government.
Ex-lawyer reveals why internal PwC probe failed to find tax leak
PwC Australia’s former general counsel says her initial investigation into potential breaches of confidentiality by a former partner did not detect problems because partners gave her inadequate evidence to examine.