From www.accountingtoday.com: [US context] Accounting faces a significant talent shortage exacerbated by widening salary gaps, as many prospective professionals are drawn to higher-paying careers in data science and software development.… read more
From www.accountantsdaily.com.au: A recent case highlighted the heightened expectations of trustee conduct for self-managed superannuation fund SMSF members, culminating in the disqualification of a director who made 117 illegal withdrawals from the fund.… read more
From financialnewswire.com.au: APRA has confirmed that separately managed accounts can be categorized as Trustee Directed Products and will be included in the superannuation performance test under the Your Future Your Super policy.… read more
From cathropartners.com.au: As FY25 concludes, inflation and labour shortages significantly impact the economy, particularly in the Construction and Hospitality sectors, which account for 65.7% of formal insolvencies.… read more
From www.blakeoliver.com: [US context] David Wurtzbacher, CEO of Ascend, challenges the typical private equity model in accounting by emphasising long-term growth, firm independence, and employee ownership.… read more
From www.themandarin.com.au: Australia faces a significant issue with the deskilling of migrants, with 44% working below their potential, which could contribute an additional $9 billion to the economy if fully utilised.… read more
From publicaccountant.com.au: The transition from compliance to advisory services in accounting is driven by efficiency gains from automation and AI, making strategic advice increasingly essential for client satisfaction.… read more
From sladen.com.au: The Victorian Supreme Court’s decision in Beecham Motors Pty Ltd v General Motors Holden Australia NSC Pty Ltd emphasises the importance of precise contractual language, ruling that GM Holden was not obligated to supply vehicles throughout the contract term due to the imprecise language in the agreement.… read more
From www.smsfadviser.com: The recent Federal Court decision in the Merchant case emphasizes that SMSF advisers must be vigilant, as transactions that seem ordinary can still face ATO scrutiny if additional facts warrant concern.… read more
From cpaaustralia.com.au: High-growth small businesses in the Asia-Pacific region, as revealed by CPA Australia’s Asia-Pacific Small Business Survey 2024-25, thrive by focusing on e-commerce, continuous innovation, investing in technology, pursuing export markets, and seeking professional advice.… read more
From financialstandard.com.au: ASFA and EY have released guidance to help superannuation trustees comply with CPS 230, effective from July 1, 2025.
The guidance emphasises the importance of operational risk management and assurance from third-party service providers.… read more
From gtlaw.com.au: The new climate-related disclosure regime mandates that large reporting entities prepare annual sustainability reports alongside financial reports starting from January 2025.
These reports must adhere to specific standards set by the AASB and AUASB, with guidance from ASIC, to enhance transparency on climate-related financial risks.… read more
From gtlaw.com.au: A parliamentary inquiry examines wholesale client tests under the Corporations Act 2001, focusing on financial thresholds and their implications for investor protection and market access.… read more
From alvarezandmarsal.com: Tariffs can significantly affect various accounting and financial reporting areas, including inventory valuation, fixed asset values, and revenue recognition.
Companies may need to adjust their accounting methods and strategies to comply with regulations and manage risks associated with tariffs.… read more
From www.professionalplanner.com.au: Research from Morningstar reveals that financial advisers often irritate clients by failing to provide a breakdown of fees, taking too long to complete tasks, and using excessive jargon.… read more