From publicaccountant.com.au: The Australian Banking Association has introduced reforms to its Banking Code of Practice that enhance protections for small businesses, guarantors, and vulnerable customers.… read more
From asic.gov.au: ASIC is initiating a review of the motor vehicle finance sector to enhance consumer outcomes, particularly for those in regional and remote areas, including First Nations communities.… read more
From www.goingconcern.com: The PCAOB sanctioned nine KPMG global network firms for failing to accurately report outsourced work on their audits, violating PCAOB Rule 3211.
These violations resulted in a total fine of $3.375 million and highlighted significant disclosure deficiencies, particularly in multi-country audits where multiple parties are involved.… read more
From www.heffron.com.au: The recent changes effective from December 2024 allow many SMSFs to allocate reserves without contribution cap checks, but some reserves still require assessment against the non-concessional contributions cap.… read more
From www.cbp.com.au: Investigation trauma refers to the emotional distress experienced by employees during workplace investigations, particularly in high-stakes environments like education and care, where a blame-focused approach can create a culture of fear.… read more
From www.claytonutz.com: Impact investing is gaining traction as investors shift towards strategies that generate positive societal and environmental outcomes alongside financial returns, distinguishing it from ESG investing, which primarily focuses on avoiding harm.… read more
From www.claytonutz.com: The Australian Treasury’s quarterly report for Q1 2024/25 highlights that the United States remains the largest source of foreign direct investment in Australia, with total approved investments of $22.9 billion.… read more
From www.claytonutz.com: Victoria will implement new psychosocial regulations in December 2025, placing greater responsibilities on employers to identify and manage mental health risks in the workplace.… read more
From www.claytonutz.com: The new mandatory merger control regime in Australia introduces a “gun jumping” prohibition, requiring parties to avoid any actions that may implement a merger before receiving clearance from the ACCC.… read more
From www.claytonutz.com: ASIC has released a discussion paper highlighting its increasing regulatory focus on private markets while acknowledging the importance of public markets for economic health.… read more
From pointonpartners.com.au: The ATO issued a taxpayer alert regarding concerns over restructuring trusts to improperly access the MIT withholding regime, particularly when these arrangements lack a legitimate commercial purpose.… read more