NewsBite

Accounting

This Month

The “unauthorised drinks” were held at the Ivy rooftop, after an earlier event within the precinct.

Accounting body faces lawsuit over Christmas party sexual harassment

The case sets up a test of whether an employer can claim it took “reasonable steps” to prevent improper conduct, where a harassment complaint has been upheld.

  • Maxim Shanahan

‘Most important man in accounting’ warns against lowering standards

Barry Melancon, for 30 years head of the leading US professional body, says quality should not be compromised to aid recruiting.

  • Updated
  • Stephen Foley

December 2024

Rob Silverwood last year. The division of PwC he oversees is a lucrative one for the firm.

BGH targets PwC dealmakers for new M&A advisory

Under the proposal, more than a dozen top transactions partners would leave for a new firm that would be overseen by Rob Silverwood, currently PwC’s deals boss.

  • Edmund Tadros, Sarah Thompson and Emma Rapaport
Sophie Jackman is likely to expand her team when the new sustainability reporting standards are introduced.

How accountants will help save the planet

The once humble accountant will be key to supporting the transition to net zero.

  • Sally Patten
Ansa Finance manager Joshua Fuoco is also facing charges for allegedly managing a company while banned by ASIC.

Accounting, audit and finance roles added to fast-track visa list

Jobs and Skills Australia has added a range of accounting, audit and finance roles to its list of occupations eligible to apply for new fast-track visas.

  • Edmund Tadros
Advertisement

Staff got a nine-day fortnight, but still waste time on one thing

Grant Thornton CEO Greg Keith doesn’t like to see staff, who work a nine-day fortnight, wasting time waiting for everyone to get their coffee before they go back to the office.

  • Updated
  • Sally Patten and Lap Phan

November 2024

Artificial intelligence

This accounting firm trusts AI only when it’s double-checked

Data experts at Vincents say they need 100 per cent accuracy when it comes to extracting financial data from documents.

  • Edmund Tadros

Revealed: Australia’s best accounting firms in 2024

The Financial Review list shows that mid-tier accounting firms reached an unprecedented size as revenue at the big four consulting firms fell to a two-year low.

  • Updated
  • Edmund Tadros

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.

  • Updated
  • Edmund Tadros
r the technology sector, a trend that is captured by technology themed ETFs.

Deloitte made me do it: CEO throws auditor under the bus

 A weekend call from the auditors sent the $1.7 billion Web Travel into a spin.

  • Anthony Macdonald
Web Travel and WebJet split up in late September, creating two separate listed companies

Web Travel restates earnings two months after WebJet spinoff

Company boss John Guscic says he’ll explain to investors next week at a postponed results briefing why margins on its global WebBeds business are falling.

  • Jenny Wiggins
l-r Peter Lalor and Jason Preston

The fastest-growing firms have one thing in common: AI

BlueRock’s Peter Lalor says the firm is using generative AI across the firm, while McGrathNicol’s Jason Preston is using the machine learning to identify patterns that humans would overlook.

  • Updated
  • Edmund Tadros

Accounting firms bullish about the future

Automation technology and ever-growing demand for advice are keeping the top firms optimistic about the years ahead.

  • Theo Konstantas

October 2024

UNSW Commerce students Rachel Rao and Kelly Wong.

Why accountants won’t become ‘AI’s lapdog’

It was a daunting brief: create a 60-second social media clip that makes accounting great again.

  • Edmund Tadros

This top accountant doesn’t eat in airport lounges, with one exception

Tony Schiffmann, chief executive partner at accounting firm BDO, reveals why he schedules all his meetings in the morning, why he doesn’t lunch, and the airport lounge he likes to eat in.

  • Sally Patten
Advertisement
Limitations to generative AI technology means professional judgment is more important than ever, says a new playbook created by accounting bodies.

AI comes with risk for auditors: report

Artificial intelligence can help auditors in the search for trends and anomalies – but its limitations mean professional judgment is more important than ever.

  • Edmund Tadros
Assistant Treasurer Stephen Jones says banks, telcos and social media companies are behaving like pubs that take no responsibility for criminal behaviour on their premises.

Rules to rein in rogue tax agents poised to become law

The laws are designed to prevent a repeat of the PwC tax leaks scandal and tighten self-regulation of the sector.

  • Edmund Tadros

Slow ASX is an insult to traders

Readers’ letters on tardy trade times for investors; outdated management styles at Qantas; Peter Dutton and the ABC; non-uni pathways to accounting; and AUKUS decisions.

Assistant Treasurer and Minister for Financial Services Stephen Jones.

Chartered Accountants demands changes to revised tax agent rules

The accounting body fears that proposed laws to rein in rogue tax agents would erode “the relationship between a taxpayer and their agent”.

  • Edmund Tadros

September 2024

Cettire has spent most of the year battling to convince investors of the merits of its drop-shipping business model for luxury goods.

Cettire gets auditor’s tick of approval, adding $247m to valuation

A month after the online luxury retailer delivered unaudited accounts, worrying investors, Grant Thornton have signed off, sending the share price surging.

  • Updated
  • Jonathan Shapiro, Joshua Peach and Carrie LaFrenz

Original URL: https://www.afr.com/topic/accounting-hug