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.
- Ayesha de Kretser
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.
- Daniel Arbon
December 2024
- Exclusive
- Big four accountants
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.
- Edmund Tadros
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.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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.
- Edmund Tadros
‘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.
- Edmund Tadros
- Exclusive
- Big four consultants
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.
- Ronald Mizen
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.
- Sarah Thompson, Kanika Sood and Emma Rapaport
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.
- 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
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.
- 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 2024
- Opinion
- Workplace
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.
- Jemima Kelly
- Exclusive
- Fashion retail
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.
- Lauren Sams
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.
- 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 2024
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
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