This Month
‘Risk of regulatory capture’: ASIC hits back at audit criticisms
The watchdog is facing calls to regulate financial reports, sustainability reporting and audit quality.
- Ronald Mizen
Speed of development making it hard for firms to invest wisely in AI
Whether assessing safety, performance or efficiency, the groups tasked with stress-testing AI systems are rushing to keep up with the state of the art.
- George Hammond
KPMG slapped with record $38m fine for exam cheating
KPMG’s Netherlands affiliate was found to have made multiple misrepresentations to the US accounting watchdog about its knowledge of the misconduct.
- Updated
- Chris Prentice
- Exclusive
- Big four consultants
EY to cut 100-plus staff amid advisory downturn
The big four firm will cut more than 100 roles next week, or about 1 per cent of its 10,000-strong workforce, due to the downturn in the consulting market.
- Edmund Tadros
UK jobs market getting even tougher for new graduates
The number of vacancies for graduates fell 30.2 per cent from a year ago in February, according to data from the jobs search engine Adzuna.
- Isabella Ward
- Opinion
- Workplace culture
Why it doesn’t pay to be a working-class professional
Social class is a bigger barrier to career progress than gender or ethnicity, a study by KPMG in Britain has shown.
- Pilita Clark
Deloitte to appoint independent members to board
Deloitte Australia will appoint independent members to its 10-person board to provide an external perspective on the way the big four firm operates.
- Edmund Tadros
Big four partners split 44pc of income to cut tax bill: ATO
Big four consulting firm partners distributed $1.2 billion of their collective $2.7 billion profit via trusts and other income splitting measures to reduce their tax bill, the ATO says.
- Edmund Tadros
March
KPMG hands CEO Yates another three years
The board of KPMG Australia has extended the leadership term of Andrew Yates to June 2027.
- Edmund Tadros
- Updated
- Accounting
Court actions against Deloitte, EY, KPMG and PwC
The big four consulting firms face a range of court actions over their auditing and advisory work. The list was last updated on March 18, 2024.
- Updated
- Edmund Tadros and Hannah Wootton
Untangling KPMG’s excruciating closeness to Westpac
Westpac is also KPMG’s banker, and a major consulting client of the big four firm. Auditors are meant to be independent, and so this just won’t do.
- Myriam Robin
- Analysis
- Enterprise IT
How Metcash’s $80m tech upgrade blew out by $200m
A plan to replace nine IT systems with one Microsoft platform is a case study in how not to manage a large-scale tech project.
- Tony Boyd
Half of $195b toll hit on Sydney drivers will come from WestConnex
Excerpts of a review into NSW toll roads shows drivers will be slugged $195 billion by 2060, but major roads remain clogged at peak hour.
- Nick Bonyhady
Westpac ditches PwC as auditor, signs with KPMG
Westpac says KPMG will take over from PwC as its external auditor from its 2025 financial year.
- Updated
- James Eyers and Edmund Tadros
- Analysis
- Accounting
The Lehman liquidators taking on China’s Evergrande
The Alvarez & Marsal guns charged with liquidating the world’s most indebted property developer are finding it a lot harder than dealing with the former Wall St giant.
- Kaye Wiggins and Chan Ho-him
KPMG knew AusNet contract was a ‘risk,’ Downer claims
The firm had flagged the agreement with the utilities group and should have discovered revenue was overstated, the contractor had alleged.
- Jenny Wiggins
- Opinion
- Chanticleer
Downer’s stoush with KPMG a big test for corporate Australia
Cosy relationships between big four audit firms and directors have greased corporate Australia’s wheels for decades. Now they are coming under pressure.
- Anthony Macdonald
Big four consulting firms ban grads from using AI for job applications
The crackdown on AI applications has been driven by fears the tools can be used to unfairly help people improve their odds.
- Adam Mawardi
Downer EDI sues KPMG for failing to detect accounting irregularities
The contractor has sought to blame its auditor for the scandal, which wiped some $500 million from its valuation, forcing the firm to quit as auditor.
- Jenny Wiggins
February
PwC leads the way on reducing the gender pay gap
The big four firm is the only major consultancy that has effectively eliminated its gender pay gap.
- Updated
- Edmund Tadros