This Month
EY Oceania to avoid merger in global restructure
The firm’s local division will continue to be led by chief executive David Larocca, but job cuts are expected amid a broader reorganisation of the business.
EY and PwC become the outsourcers
Such is the big four’s plight in Canberra that they have started outsourcing their government dealings.
PwC spin-off Scyne Advisory to slash staff and restructure
The public sector consulting specialist now owned by Allegro Funds told employees it would cut about 10 per cent of its headcount and focus on tech work.
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.