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PKF Australia

Accountants and Business Advisers

Our Blogs

31 07 2019

Interrogating Integrity

Governance, culture and ethics have never been more relevant across Australian business. We have seen a growing lack of trust in institutions, in traditional structures and even in some cases in people’s success. Noting that the full title of the Hayne Royal Commission featured the word ‘misconduct’, ethical business practices and corporate governance really do matter for today’s Boards and management teams. These expectations mean that governance, risk and compliance efforts need to move beyond the traditional ‘tick the box’ approach.

31 07 2019

Focus On 30 June 2019 Financial Reporting

In mid-June ASIC issued its views on the matters that financial report preparers, Directors, management and auditors should consider of highest priority in the 30 June 2019 financial reporting cycle (through its 19-143 Media Release Major financial reporting changes and other focuses), calling on companies to focus on new requirements that can materially affect reported assets, liabilities and profits.

31 07 2019

Financial Reporting Changes On The Horizon

The Australian Accounting Standards Board has been busy over the last few months which has resulted in some proposed changes to accounting standards being released for comment.

31 07 2019

Back To The Future – Expected Credit Loss Model

General provisioning of debtors was removed many years ago, never to return, or so we thought. AASB 139 Financial Instruments: Recognition and Measurement previously required impairment allowances be measured according to an incurred loss model. Under this model, the recognition of credit loss allowances was triggered by loss event subsequent.

31 07 2019

AASB – Recognising The Financial Impact Of Voluntary Services

Non-public sector Australian not-for-profit (NFP) entities will soon have the option to recognise the benefit of voluntary services received in their profit or loss account. What does this mean for those in the sector, and should boards be considering implementation of this choice?

26 07 2019

Whistleblowing In The Boardroom l Part 3

Despite improvements in some areas of the whistleblower framework, there are, unfortunately, still significant shortfalls in the organisational treatment of whistleblowers.

22 07 2019

Modern Slavery: an opportunity not a compliance measure

The introduction of the Modern Slavery Act reflects a societal shift and represents an opportunity for organisations to do the right thing while leveraging it as a competitive advantage.

19 07 2019

Quarterly Insights: Australian Food Manufacturing & Distribution June 2019

PKF Melbourne Corporate Finance is pleased to present the Food Manufacturing & Distribution Insights for the June 2019 quarter, including a review of key mergers and acquisitions activity in the industry.

19 07 2019

Quarterly Insights: Australian Healthcare Equipment and Services June 2019

PKF Melbourne Corporate Finance is pleased to present the Healthcare Equipment and Services Insights for the June 2019 quarter, including a review of key mergers and acquisitions activity in the industry.

05 07 2019

Client Profile: Building A Business - The Makings Of NHS

NHS came to PKF for the quality advice needed for a continually expanding business. Since then, PKF has delivered monthly advisory board meetings, strategy sessions, disaster recovery and IT assistance.

05 07 2019

Are The banks Still Lending?

A business needs to articulate the position of a good investment. The more risk for an investor (in this case the bank), the higher the reward they will expect (in this case the interest rate).

05 07 2019

If You Owned A Money Printing Machine, Would You Insure It?

For most, this money printing machine just sits there at home, unprotected and uninsured…You guessed it – this machine is YOU… What would you do if you could no longer meet those large mortgage repayments?

05 07 2019

New Legislation Reinforces Need For Directors To Get The Right Advice

Though most Directors would not knowingly participate in illegal phoenixing, moving assets to protect a Director’s personal financial wealth when a business is facing liquidation, could be viewed as phoenixing and both the Director and their adviser may now be held liable.

05 07 2019

Royal Commission Into Misconduct In The Banking, Superannuation And Financial Services Industry

SME businesses without collateral to offer as security are likely to find it increasingly difficult to source financing at affordable rates.

05 07 2019

Why People Choose To Have A Self-Managed Super Fund

There are around 600,000 SMSFs in Australia today with over 1.1 million Australians who are members of their own SMSF.

05 07 2019

Job Sharing And Part-Time – What's The Difference?

When utilised effectively, a policy of flexible working arrangements can help ensure employing companies have access to a broad and diverse talent pool to select their team from, the company can provide innovative solutions to their clients and they will generally have a more motivated workforce.

05 07 2019

ATO Releases Practical Compliance Guideline 2018/19 On Tax Residency Of Foreign Companies

Foreign incorporated companies that are controlled by Australian groups should assess their Australian residency status to identify any risks and remedial action that may be required, especially where there are potential decision-making influencers in Australia.

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