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Chartered Accountants Australia and New Zealand CEO Ainslie van Onselen.

Fines to quintuple for badly behaved accountants

Chartered Accountants ANZ members voted to increase the maximum fine for firms from $50,000 to $250,000 to rebuild the sector’s image.

  • Edmund Tadros
Big-six law firm King & Wood Mallesons was brought in by PwC Australia to help with the clean-up job.

Top legal partners want to ‘eat what they kill’, not share profits

High-performing partners want a greater share of profit for shouldering the burden of a flat legal market.

  • Maxim Shanahan
Victorian barrister Lana Collaris.

Barristers on losing streak with constitutional change

A vote by members of the Victorian Bar to include clauses that promoted diversity and made a stand against discrimination and harassment has tanked.

  • Michael Pelly

How Aussie Jewish barristers banded together after Hamas attacks

Working long hours, usually alone, it can be a lonely life. In the days after the bloody attack on Israel, a WhatsApp group helped Jews at the NSW Bar come together.

  • Ronald Mizen and Maxim Shanahan

India’s outsource industry is shrinking

The top players in the sector contracted their payrolls by more than 21,000 in the three months to September.

  • Andy Mukherjee

Data Trackers

The final report by the parliamentary inquiry into audit quality has been tabled.

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 Australia chief executive Kevin Burrowes says the firm is committed to changing its culture.

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

Sydneysider Nick Saady increased his salary five-fold when he landed a job in New York

Vegas trips, five times the salary: Life as an NYC lawyer to the stars

Sydneysider Nick Saady moved to New York five years ago to study a Master of Laws at New York University. He did whatever it took to stay.

  • Updated
  • Ciara Seccombe
PwC is still “a great firm”: Hall & Wilcox’s Tony Macvean.

Hall & Wilcox eyes expansion with boutique takeover

Managing partner Tony Macvean says the deal will help the combined firm become the undisputed market leader in investment funds nationally.

  • Maxim Shanahan


Second Commissioner Jeremy Hirschhorn: “We put rigorous controls around settlements”.

Tax Office halved $1.4m PwC fine for false privilege claims

A confidential settlement also prevents the ATO from taking action against five multinational clients who supported the claims.

  • Neil Chenoweth

This Month

Bob Moritz, PwC global chairman: “It’s not about top-line growth, it’s about sustainable growth.”

PwC’s global revenue growth lags big four rivals

The big four consulting firm says it is in the middle of an investment period that will pay off in future years, including a three-year hiring spree.

  • Stephen Foley
KPMG partner David Ibels.

KPMG CEO pays tribute to partner

KPMG chief executive Andrew Yates said that partner David Ibels was “an incredible person” and will be missed by his family and colleagues.

  • Edmund Tadros

Big four ex-partner claims colleagues helped in tax exploitation scheme

The former partner, whose name is being suppressed along with that of the firm, hopes to file a limited defence to avoid incriminating himself.

  • Max Mason and Neil Chenoweth
The ATO case adds to increased spotlight on the big four following the PwC tax scandal.

Why ASIC stopped naming and shaming the big four over audit quality

The corporate regulator has now flagged it is planning to begin reviewing the operations of the six largest firms from next year.

  • Edmund Tadros and Patrick Durkin
Former PwC interim chief executive Kristin Stubbins testified at the ongoing NSW parliamentary inquiry into consultants in June.

Former PwC Australia acting CEO Kristin Stubbins to leave firm

The woman who led PwC Australia through the darkest days of its tax leaks scandal will depart in January after three decades at the big four consulting firm.

  • Edmund Tadros
Professor Kehinde Andrews of the University of Birmingham.

Deloitte UK staff raise alarm over talk by ‘anti-white’ academic

A professor who described Winston Churchill as a white supremacist set to speak to the consultancy firm’s UK employees about identity and “black excellence”.

  • Steven Edginton
ASIC chairman Joe Longo says auditing has become an unattractive profession to enter.

Unpleasant work or low pay? What’s behind the auditor shortage

ASIC chairman Joe Longo and Labor senator Deborah O’Neill have different takes on why auditing is struggling to attract graduates.

  • Edmund Tadros
Bain has pushed the start date for graduates back to October next year.

Strategy firm Bain delays new starters by up to 10 months

The consulting company’s Australian office has deferred the start dates of its roughly two dozen new employees until as late as October next year.

  • Edmund Tadros
Paul Finn outside the UK Privy Council in 2015.

A distinctive thinker who transformed Australian law

Paul Finn made his mark as one of the great equity lawyers with his 1977 book Fiduciary Obligations exploring our obligations to act in the best interests of others.

  • Tim Bonyhady

Commuters captured under tough climate regime

Carbon emissions caused by employees commuting to work or on business trips may need to be disclosed under mandatory new accounting standards.

  • Patrick Durkin
Peter Collins, former head of international tax for PwC Australia.

ASIC bans ex-PwC partner Peter Collins for eight years

The Australian Securities and Investments Commission said it was in the public interest for him to be barred from working in financial services for a period.

  • Updated
  • Edmund Tadros
 Justice Robert Beech Jones speak at his farewell to the NSw Supreme Court, with Chief Justice Andrew Bell on his right

That’s a rap: raucous send-off for new High Court judge

Robert Beech-Jones once left fellow judges “awestruck” with a Christmas Party rap, and he admits not being the best writer in the family.

  • Michael Pelly

Hire us, not consultants, barristers tell government

The Victorian Bar says using “individual experts” would be cheaper and help overcome issues of accountability and breach of trust.

  • Maxim Shanahan
Harvard University in Cambridge, Massachusettes

US law firm reviews decision to rescind job offers over Israel protest

Davis Polk reconsiders dismissals after two students deny authorising letters from Harvard and Columbia groups blaming Israel for October 7 Hamas attack.

  • Maureen Farrell
Jan McCahey, PwC Australia’s chief risk and ethics leader, during a hearing of the Senate inquiry into consultants on Thursday, 12 October.

US regulator investigates PwC tax leaks after ‘untimely’ report

The powerful US Public Company Accounting Oversight Board is investigating the Australian tax leaks scandal, bringing increased risk to PwC’s global operations.

  • Edmund Tadros
Labor senator Deborah O’Neill during last week’s ongoing Senate inquiry into consulting.

Big four audit, consulting model questioned in PwC tax leaks inquiry

The argument that the major accounting firms need access to specialised skills within their consulting businesses to deliver quality audits has been questioned at a Senate inquiry.

  • Edmund Tadros
Two people found guilty in a corruption scandal involving KPMG US and the US audit regulator are set to have their convictions dropped.

KPMG UK fined record $40m over dodgy Carillion audit

KPMG UK has been hit with a record £21 million ($44.4 million) fine by the UK accounting watchdog for failings in its auditing of collapsed outsourcer Carillion.

  • Simon Foy
PwC logo on building.

PwC’s US boss Tim Ryan to quit as race to lead big four heats up

Tim Ryan had been tipped as a potential successor to Bob Moritz as global chairman.

  • Michael O’Dwyer and Stephen Foley
Former PwC Australia CEO Luke Sayers at a public hearing of the ongoing Senate inquiry into consulting, held in Canberra on Thursday, October 12.

Sayers wanted to sell PwC’s consulting business for $1b

Luke Sayers was so worried about the conflicts at PwC that he spearheaded a secret push to float the firm’s local consulting business.

  • Edmund Tadros