This Month
What the inquiry into the structure of the big four firms recommended
A summary of the key recommendations from the joint parliamentary inquiry into the structure of the big four consulting firms and what they mean for the sector.
- Updated
- Edmund Tadros
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.
- Edmund Tadros
Big four partnerships should be capped at 400, inquiry finds
The major consulting firms could also be forced to separate the management of their audit and non-audit practices under recommended changes.
- Updated
- Edmund Tadros
- Exclusive
- Deloitte
Deloitte board nominates Joanne Gorton as preferred CEO
The firm’s head of audit has been selected as the preferred candidate to replace chief executive Adam Powick.
- Edmund Tadros
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.
- Edmund Tadros
$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.
- Edmund Tadros
October
- Exclusive
- Consulting
This is the kind of consulting work KPMG Australia will send offshore
The firm’s consulting arm plans to send 44,000 hours of work to employees based overseas this financial year as part of a push to change the way KPMG operates.
- Edmund Tadros
How this consultant saves half a day a week using AI
KPMG graduate Niamh Tomlinson says improved productivity using the firm’s internal AI tool lets her spend more time doing higher value work.
- Edmund Tadros
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
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.
- Edmund Tadros
September
PwC revenue slumps $820m after tax leaks scandal
Takings fell by more than a quarter to $2.35 billion in 2023-24, making it PwC Australia’s worst decrease ever, as the fallout from the crisis continues.
- Edmund Tadros
- Opinion
- Audit quality
Accounting body’s plan a ticking time bomb for the profession
Chartered Accountants ANZ’s plan to educate school leavers without a university degree will hurt the sector, say two Deakin University academics.
- Anne Wyatt and Peter Carey
Dutton to bring ex-minister back from consulting land
Former senior PwC partner and Liberal minister Jamie Briggs is returning to politics after he leaves his role as corporate affairs leader at professional services start-up Scyne Advisory.
- Edmund Tadros and Myriam Robin
Deloitte global revenue growth slows to 3pc, PwC US cuts staff
Deloitte global revenue growth slows to 3 per cent; PwC US cuts 1800 roles; PwC spin-off Vialto to restructure $2.2 billion in debt
- Exclusive
- Tax avoidance
Revealed: the former EY partner being sued by the ATO
Peter White allegedly took $700,000 in secret commissions while setting up illegal tax schemes for wealthy clients.
- Max Mason
The one family rule these married co-CEOs (and ex-EY execs) stick to
Simone and Matt Rennie, co-founders of rising consulting challenger Rennie Advisory, avoid work after dinner at all costs.
- Updated
- James Hall
Why ‘body-shopping’ for consultants is dead in Canberra
The firms hardest hit by sharply lower government spending on consulting are those contracting out short- or medium-term advisers to agencies and departments.
- Edmund Tadros
Deloitte brings back face-to-face UK graduate interviews
The move comes amid pressure from the accounting regulator for firms to clamp down on the potential for cheating in virtual assessments.
- Simon Foy
August
Property developer sues PwC for $12.8m over ‘negligent’ tax advice
A British commercial property developer alleges PwC failed to “accurately calculate tax due” by the group, court documents show.
- Simon Foy
Fast-growing firm nabs ex-big four partners in Canberra consulting push
BDO Australia has recruited a former PwC-turned-Scyne partner and an ex-Deloitte and Sayers Group partner to lead its new Canberra office.
- Edmund Tadros