Latest
Law graduates are about to crack a salary record
Top-tier graduates will earn more than $100,000 this year – in Sydney only – but law firms remain tight-lipped on pay rates despite moves towards transparency elsewhere.
- Maxim Shanahan
HWL Ebsworth anoints ‘co-pilots’ to replace the late Juan Martinez
Australia’s largest legal partnership, HWL Ebsworth, has new leaders who are hoping for “not such a combative relationship with the media”.
- Michael Pelly
If AI can do the work of a grad lawyer, what does a grad lawyer do?
As tech increasingly takes on the legal grunt work, MinterEllison is trying to rethink the work and skills of its young lawyers.
- Hans van Leeuwen
EY manager claims he was sacked for complaining about 80-hour week
EY Australia has rejected claims by a manager he was sacked because he complained about being told to put in unreasonable hours.
- Max Mason
Judge chides critics who want to ‘regulate class actions out of existence’
The newest member of the High Court, Justice Robert Beech-Jones, also gave qualified support to competition between courts.
- Michael Pelly
Data Trackers
Financial Review consulting salary guide 2022-23
The full guide to how much you can earn at Accenture, Deloitte, KPMG and PwC.
- Edmund Tadros
PwC seeks absolution but can it really change?
The publication of two documents and a video apology for the tax leaks scandal this week was meant to be a circuit breaker. But it won’t be that easy.
- Edmund Tadros
Professional Moves
Scyne finalises appointments, KPMG partner heads to Star
PwC spin-off Scyne Advisory has appointed a permanent managing partner and will finalise its CEO in the second half of this year.
- Maxim Shanahan
Energy focus as Ashurst, Allens, Freehills appoint new partners
Energy and environment lawyers have led promotions at top-tier firms, as the legal industry targets the energy transition as the next big source of billings.
- Maxim Shanahan
Scyne settles restraint case, as PwC tax partner jumps to KPMG
Connie Heaney will be free to continue at Downer EDI under the settlement, while a senior PwC tax partner has jumped ship to KPMG.
- Updated
- Maxim Shanahan
This Month
PwC elevates tax and legal into its service line
The new model will also bring together the firm’s deals and private advisory professionals and its consultants into a renamed “advisory” service.
- Edmund Tadros
Global push to get tax advisers to think ethically
New rules have been agreed to help restore trust in a profession battered by wrongdoing, including the PwC tax leaks scandal.
- Edmund Tadros
Thomson Geer takes 4.9pc stake in ASX takeover target
Law firm Thomson Geer has built a 4.9pc stake in ASX-listed Qantm Intellectual Property, currently the subject of a takeover tussle.
- Maxim Shanahan
Allen & Overy merger creates $5.3b firm in push for US clients
Local managing partner Jason Denisenko says the new-look firm will occupy the same space in the market, but will increasingly take on US firms with Australian arms.
- Maxim Shanahan
PwC’s failed complaint over professor’s spicy LinkedIn posts
Andy Schmulow’s more polite jibes included calling PwC “a cancer” on society, “thugs in suits”, and a “parasite”. PwC reckons it’s all beyond the pale.
- Updated
- Myriam Robin
PwC partners in Middle East accused of blocking first woman boss
PwC is facing a backlash from its own staff after two women were passed over for the UK firm’s top job, as Middle Eastern partners grow in strength.
- Updated
- Adam Mawardi
Big four exam cheating under spotlight amid AI fears
Academic integrity is in focus for professional regulators after a series of cheating scandals and the rise of artificial intelligence.
- Adam Mawardi
Law Council ‘extremely concerned’ by ATO’s privilege allegations
In response to comments by Jeremy Hirschhorn to the Senate, the Law Council warned against casting doubt over the purpose of law firms’ consulting arms.
- Maxim Shanahan
Let ASIC police big four conflicts: Samuel
Former ACCC chairman Graeme Samuel says the big four’s governance changes looked good on paper, but would not fundamentally change the culture of the firms.
- Maxim Shanahan and Ronald Mizen
Big four’s reformation moment
Engaging with the Treasury process is an opportunity for the consulting giants to help modernise the partnership-based model founded in the 19th century and unfit for today.
- The AFR View
The 24 questions Treasury has about the big four consulting firms
The 16 “potential issues” raised by Treasury and the 24 questions it would like responses to about the structure of the firms and the wider sector.
- Edmund Tadros
- Opinion
- Audit quality
Treasury questions the very nature of the big four consulting firms
Get ready for war as they fight back against suggestions they are too big, incapable of governing themselves and have compromised auditing roles.
- Edmund Tadros
- Exclusive
- Harassment
One word reshaped legal watchdog’s public complaint guidance
The NSW Office of the Legal Services Commissioner changed its wording on disciplinary complaints from “must” to “may” investigate after being contacted by a female lawyer.
- Max Mason
Legal grad pay tops $110k, but wage gap still stubborn
The gender pay gap in the legal industry remains “stubbornly and consistently high”, a survey has found.
- Updated
- Maxim Shanahan
April
KPMG increases working capital borrowings by almost $300m
KPMG increased its borrowings by almost $300 million over the past two financial years but booked revenue growth of more than $500 million.
- Maxim Shanahan
Scyne finalises appointments, KPMG partner heads to Star
PwC spin-off Scyne Advisory has appointed a permanent managing partner and will finalise its CEO in the second half of this year.
- Maxim Shanahan
McKinsey uses Chumbawamba to boost morale
The firm sought to rally partners at a meeting, but has been hit by news of a criminal investigation and lawsuit from a former senior partner in the past week.
- Ambereen Choudhury and Amy Bainbridge
PwC set to become smallest big four firm
PwC has lost more than 200 partners in less than a year, with the once-ascendant firm expected to fall behind KPMG on partnership size and revenue.
- Maxim Shanahan
- Exclusive
- Harassment
Legal watchdog accused of quashing sexual assault claim
A lawyer who alleges she was sexually assaulted by a high-profile Sydney solicitor has accused the industry watchdog of blocking a full investigation.
- Max Mason
Tax Office warns law firms over consulting push
ATO second commissioner Jeremy Hirschhorn said he was worried law firms would repeat the mistakes of the big four professional services firms with their push into consulting.
- Maxim Shanahan
