Link: Business recovery
The firm’s audits of major Australian banks, such as ANZ and St George, led to a potential conflict of interests because 80-90% of its insolvency work derives from them, according to The Australian.
Insolvency partners Tony McGrath and Colin Nicol, both of KPMG, will establish McGrath Nicol & Partners and take AUS$30m (£11.8m) of annual fees to the newly-formed insolvency practice.
KPMG chairman Lindsay Maxsted said the firm had reacted to the ‘change in market conditions’, as banks do not want to give non-audit work to the firm that acts as its auditor.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars
Investment in people, tech and businesses impacts on EY's profit per partner figure