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.
Labor cuts spending on major consulting firms by $891m over two years
The value of Commonwealth work outsourced to Accenture, Deloitte, EY, KPMG and PWC is down to $1.5 billion since Labor took power in mid-2022.
$500m in Canberra consulting to be slashed
Consulting firms working for Defence, the NDIS and the Tax Office will be hardest hit by a new plan to strip more than $500 million in work from the embattled advisory sector this financial year.
October 2024
Why multitasking can get you sacked
Doing more than one thing at once can be liberating, but some employers say it can also be overwhelming and unproductive.
The two mates turning Meshki into the Atlassian of fast fashion
Originally a side hustle for founders Natalie Khoei and Shadi Kord, Meshki is now a $120 million business with a prestigious award for its trophy case.
From revenue to partner pay and scalps: Consulting’s bad year revealed
Everything you need to know about how the big four firms fared during the past year, including which firm is now No. 1, how much partners are being paid, and why the firms are all shrinking.
EY’s local strategy division appoints deals veteran as leader
Clients are willing to pay a premium for strategy advisers who are also experienced industry experts, says the new managing partner of EY’s local strategy arm.