IBAC’s public hearings into Victoria Police practices when taking witness statements has heard testimony that improper practices had occurred and may still be occurring. The hearings focused on Victoria Police’s witness statement taking practices and IBAC’s Operation Gloucester public hearings conclude and identify significant issues with police practices […]
The Banking Royal Commission has raised questions about the role of the Australian Securities and Investment Commission, writes Professor Jason Harris, specialist in corporate law at the University of Sydney Law School. The Banking Royal Is ASIC the watchdog that no one fears? […]
Global research by Deloitte explores C-suite views on readiness for the impact of the Fourth Industrial Revolution (Industry 4.0) Australian business more likely to invest in disruptive technology A quarter of Australian business leaders see positive social Is Australian business ready for the Fourth Industrial Revolution? […]
RMIT’S School of Accounting has teamed up with industry and the accounting profession to build a “serious game” where users will earn a micro-credential upon completion. The game was developed in response to the revised and restructured International Code of Ethics for Professional Accountants, released by the International Ethics Standards Board for Accountants (IESBA) in April 2018.
The Code will be effective from 15 June 2019, with accountants globally required to comply with it after this date.
The innovative serious game is a uniquely designed digital simulation, intended for players at any stage of their professional career. RMIT develops a new game that earns you a micro-credential […]
Announcing its focus areas for 31 December 2018 financial reports of listed entities and other entities of public interest with many stakeholders, ASIC has called on companies to focus on new requirements that can materially Major financial reporting changes and other focuses […]
The ATO has released advice that details our concerns about multinational taxpayers inappropriately pricing goods in their supply chains or mis-characterising intangible assets, with the ultimate effect of understating profits in Australia. Deputy Commissioner Mark ATO raises concerns on multinational supply chains and intangible assets […]
Australia’s four major banks have released results showing returns remain under pressure for the foreseeable future as a result of remediation-related cost increases and slower income growth, with headline cash earnings dropping 5.5 per cent year-on-year to $29.5 billion after the record $31.2 billion delivered in 2017.
PwC’s 2018 Major Banks Analysis found return on equity has fallen to 12.5 percent, the lowest since the GFC, as significant customer remediation and regulatory, compliance and restructuring costs materialised. This is despite bad debt expenses hitting record lows, some momentum in business credit growth, and efforts to improve productivity.
PwC Australia’s Banking and Capital Markets Leader, Colin Heath says the full year results show the impact of ongoing economic, competitive and conduct challenges, especially the impact of ongoing regulatory reform. Headwinds blowing fiercely for the banking industry […]