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Latest news: Accounting and Audit

Audit firms to be investigated following KPMG scandal

Audit firms to be investigated following KPMG scandal

Major consulting companies will have their audit firms investigated by the corporate watchdog in an inquiry triggered by allegations surrounding KPMG.

Under-fire firm still has ethics, leadership contracts

Under-fire firm still has ethics, leadership contracts

Under-fire firm still has ethics, leadership contracts

Under-fire firm still has ethics, leadership contracts

Having been hauled over the coals by a parliamentary committee, KPMG is again facing scrutiny regarding its suitability to run government training programs.

KPMG chairman, partners to exit scandal-tainted firm

KPMG chairman, partners to exit scandal-tainted firm

KPMG chairman, partners to exit scandal-tainted firm

KPMG chairman, partners to exit scandal-tainted firm

Two KPMG audit partners who allegedly accessed confidential information are leaving the accounting firm, along with its national chairman.

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Auditor casts eye over 'devious' 40-year lottery deal

Auditor casts eye over 'devious' 40-year lottery deal

An independent auditor is probing whether a state government ran a competitive process before handing out a 40-year lottery deal after "exclusive" negotiations.

Billion-dollar suicide strategy failing, audit finds

Billion-dollar suicide strategy failing, audit finds

Almost $1 billion is being poured into suicide prevention but the government is failing to measure its impact or develop effective policies, an audit has found.

Founder of scandal-hit travel firm gone, shares stuck

Founder of scandal-hit travel firm gone, shares stuck

Corporate Travel Management founder Jamie Pherous is retiring "in the best interests of the company", making room for a new CEO as its shares remain untraded.

Auditor to probe social housing fund's value for money

Auditor to probe social housing fund's value for money

The nation's auditor will investigate whether a massive housing fund set up in 2023 was designed correctly and is delivering value for money

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'Payday super' popular but could challenge small firms

'Payday super' popular but could challenge small firms

'Payday super' popular but could challenge small firms

'Payday super' popular but could challenge small firms

Legislation to align superannuation with payday has been broadly welcomed despite warnings some firms would face a cashflow crunch and compliance headaches.

Labor's pork-barrelling answer managed 'effectively'

Labor's pork-barrelling answer managed 'effectively'

Labor's pork-barrelling answer managed 'effectively'

Labor's pork-barrelling answer managed 'effectively'

Pork-barrelling, slush-fund and vote-buying claims trailing a $37.2 million taxpayer-funded program for years have been hosed down in an independent audit.

Accountant's $2.7m splurge for control leads to prison

Accountant's $2.7m splurge for control leads to prison

Accountant's $2.7m splurge for control leads to prison

Accountant's $2.7m splurge for control leads to prison

A former Deloitte director has been jailed after spending more than $2.7 million of company cash on personal items and masking them as expenses.

Risk or reward: mandatory climate reporting to begin

Risk or reward: mandatory climate reporting to begin

Risk or reward: mandatory climate reporting to begin

Risk or reward: mandatory climate reporting to begin

The start of mandatory reporting on climate risks for large companies and financial institutions is expected to bring challenges for entire supply chains.

Housing sustainability framework stands up to scrutiny

Housing sustainability framework stands up to scrutiny

Housing sustainability framework stands up to scrutiny

Housing sustainability framework stands up to scrutiny

With one in seven forecast to be living in community housing within decades, a review finds foundations are in place as pressure builds for broader standards.

Warning to Aussie firms on mandatory climate reporting

Warning to Aussie firms on mandatory climate reporting

Warning to Aussie firms on mandatory climate reporting

Warning to Aussie firms on mandatory climate reporting

A survey of climate change strategies and disclosures of Australia's top 200 companies has found their plans need to be credible and backed by science.

Dodgy landlords warned against 'double dipping' on tax

Dodgy landlords warned against 'double dipping' on tax

Dodgy landlords warned against 'double dipping' on tax

Dodgy landlords warned against 'double dipping' on tax

The tax office is warning property owners to keep their records up to date and beware of submitting property claims that could need fixing.

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Sustainable investment must be real not faked: ASIC

The corporate watchdog wants Australia to attract sustainable investment, not scare it off, but not at the expense of well-meaning consumers and investors.

Sustainability: a price Australia can afford to pay?

Australia's mining bosses have been challenged by a former trade negotiator on sustainability standards and the social impact of extracting resources.

Add skills to adapt to 'new era' in climate disclosure

An online course to help firms meet obligations under new global and Australian sustainability and climate-related financial standards has opened for enrolment.

Mandatory climate reporting regime pushed out to 2025

Corporations will be covered by a climate reporting regime under new laws but not yet, as Treasurer Jim Chalmers bends to pressure from the big end of town.

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Accountant stole $2m from musicians, restaurateurs

After admitting to stealing $2 million from musicians and business owners a 38-year-old has been remanded in custody ahead of his sentencing.

Big end of town ready but push back on climate regime

Most directors are worried about climate change risks but could get extra time to prepare for more thorough financial disclosure and transition planning.

Hypocrisy call after 'devastating' report on $5b scheme

Substantial issues have been uncovered in an audit of a war chest filled with billions of dollars derived from Australia's largest road infrastructure project.

Draft laws usher in compulsory climate risk disclosure

Draft laws for mandatory reporting of climate-related risks have been released by Treasurer Jim Chalmers.

Parking meter app contract lacked transparency, value

The NSW Audit Office has slammed a contract entered into under the previous coalition government without officials engaging in a tender process.

Vic didn't do homework before tech venture bust: audit

Victoria's auditor-general has found $20 million in taxpayer money was wasted on a failed government-backed startup due to a lack of due diligence.

Heat on climate, gender at companies' annual meetings

The annual general meeting season is expected to kick off with a focus on sustainability, remuneration for bosses and votes against all-male boards.

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