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As of mid-2022 all NSW local government councils and joint organisations were required to have considered the 2023 Risk and Audit Guidelines. The 2023 Guidelines replace the 2010 NSW Government’s Internal Audit Guidelines for Local Government in NSW. They seek to incorporate findings and lessons learnt from relevant industry reviews...
2 Contributors
Brisbane
Insights
As a business leader, you're likely familiar with the strategic and financial advantages that a business advisory partner can bring. Typically discussions around business advisory partnerships focus on the clear, tangible benefits - strategic insights, financial guide, and operational support. However, there are some key benefits outside of this that...
Sara Crevillen
Partner
Brisbane
Insights
Family dynamics are at the heart of farm succession planning, where relationships, roles, and expectations among family members can significantly influence the success or failure of the transition process. Ensuring a harmonious handover not only safeguards the farm's future but also maintains family unity.
Steve Meyn
Chairman
Australia
Insights
There are two types of businesses—those that have been hacked and those that will be. We often work with companies that don't realise how vulnerable they actually are, until it's too late. The biggest mistake? Ignoring key cyber risks, leaving critical information exposed, and not knowing what threats exist. Protecting...
Tony Corry
Director - Technology Assurance and Advisory
Brisbane, Melbourne
Insights
Imagine this. You are on your way home from work and notice an elderly man has just tripped and fallen. He is laying on the ground and his arm is bleeding. You, along with others around you, run over to render assistance to the gentleman, to see if he is...
Insights
With less than six months to go, has your organisation considered how to implement the new internal audit standards? Internal Audit (‘IA’) plays a vital role in helping organisations achieve improved performance, in ensuring risks are adequately managed in an increasingly complex landscape, and in protecting the public interest. To...
2 contributors
Brisbane
Insights
On Friday, 19 July 2024, worldwide infrastructure crumbled in what is now recognised as the largest outage the global economy has ever seen. A critical error in CrowdStrike Falcon led to a widespread outage affecting organisations relying on their endpoint protection services. The error was introduced during a routine software...
Tony Corry
Director - Technology Assurance and Advisory
Brisbane, Melbourne
Insights
As a new convert to mountain biking, it didn’t take me long to realise that riders face an array of obstacles that can send you tumbling down a hill faster than a stock market crash. But what I soon learnt is that the secrets to risk mitigation in mountain biking...
Cameron Bradley
Partner
Brisbane
Updates
The firm will operate from Level 2, 66 Eagle Street, Brisbane on Monday the 27th of November 2023. PKF Brisbane will be moving to new premises in the Brisbane CBD over the weekend of Saturday the 25th and Sunday the 26th of November.We have enjoyed our time in Brisbane’s iconic...
Insights
For many small business owners, the thought of stepping away from their business can be daunting, particularly after years of hard work building their business from the ground up. However, for those looking to create a long-standing, multi-generational family business, succession planning is a must.
Steve Meyn
Chairman
Australia
Insights
Mixed complaints can pose challenges for organisations as how to best manage them. A mixed complaint is a complaint that includes information that qualifies for whistleblower protections (such as fraud or corrupt conduct), and information that does not qualify for protections and is workplace behaviour related (such as bullying). A...
Insights
Multiple types of wrongdoing reported in the one complaint are referred to as a ‘mixed’ complaint. This can sometimes add complexities to complaints that require responses from different parts of the business, such as People and Culture and/or Legal and Risk. The ISO 37002 standard on Whistleblowing management systems (ISO)...
Insights
The tourism and hospitality industry is seen as one of the largest industries in the world and is a significant contributor to the Australian economy. However, the tourism and hospitality industry has not been immune from issues such as sexual harassment, bullying, fraud and collusion. In a recent study conducted...
Insights
Quite often, the terms ‘equity’ and ‘equality’ are used interchangeably, however there are subtle yet important differences that are useful to understand as we – as individuals and as organisations – seek to attract and retain talented people, and advance as employers of choice. The Cambridge Dictionary defines equity as...
Kym Reilly
Partner
Sydney, Newcastle
Insights
When employees witness wrongdoing in the workplace, they may consider lodging a complaint. However, there are different types of complaints an employee can lodge. Common but easily confused complaints are whistleblower complaints or personal grievance complaints. What are their differences? Whistleblower complaints A whistleblower complaint is lodged by an employee...
Insights
What are negative behaviours? Negative behaviours include several communication and behaviour issues such as passive aggressiveness, narcissism, or disrespect towards other staff members. These behaviours can be indicators of bullying or can mask other serious integrity-related issues such as fraud and corruption. Some of the most common types of negative...
Insights
Many companies implement payment controls to combat and prevent fraud related to fake invoices, altered payment details, and fraudulent loans. However, one type of fraud that can be particularly difficult to detect and prevent is collusion fraud. This type of fraud involves multiple perpetrators, often both inside and outside of...
Insights
As you reflect on your plans for 2023, take a moment to consider the introduction of a whistleblower protection program for your business. Not only is it a regulatory requirement for all large proprietary and publicly listed companies, it is becoming increasingly embraced by organisations large and small, public and...
Insights
Financial statements play an important role in helping not-for-profit (NFP) private sector entities stay accountable, manage their limited resources effectively and provide transparency to users. However, many smaller NFP entities find that current Australian financial reporting requirements are overly complex to apply and onerous for stakeholders. In response to this,...
Insights
IT General Controls (ITGCs) provide important insight into an organisation’s risk and control environment. Here, we highlight three common red flags for access controls (a key aspect of ITGC) and suggest how to avoid the associated risks. What are IT general controls? ITGC is a subset of IT controls and...
Press Releases
Leading audit, accounting and tax firm PKF has announced its expansion in North Queensland with the opening of a new office in Townsville’s CBD. Leading PKF North Queensland in the Townsville office will be Audit and Assurance Partner Tim Follett, who recently relocated to Townsville from Brisbane. Tim has family...
Tim Follett
Partner
Townsville, Brisbane
Insights
What do you need to consider when one of the main revenue streams for your business changes? That’s exactly what Australian Government funded Residential Aged Care providers should be contemplating right now. Providers will cease getting Federal care subsidy payments for consumers in Residential Aged Care under the Aged Care...
Cameron Bradley
Partner
Brisbane
Press Releases
Brisbane-based accountancy practice PT Partners will join the practice of PKF Brisbane on 1 July. The four-Partner, Springwood-based practice has been operating in the Brisbane market for over thirty years and has established itself as a leading southside firm for family owned and owner-managed business clients. All of PT’s staff...
Larn Mulligan
CEO
Brisbane
Insights
PKF surveyed 41 organisations and held in-depth interviews with representatives from 10 large organisations. Of the 41 organisations who responded to our survey, 80% indicated they received 25 or less disclosures per year from their whistleblowing channels (internal and external). This is consistent with the results of the Navex Global...
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