This Month
CFMEU boss defiant; KPMG axes jobs; Who is J. D. Vance?
Read everything that’s happened in the news so far today.
Scyne hires from public service, new KPMG role for former OECD exec
Public sector consulting firm Scyne has appointed its first new managing director, while KPMG has brought on former Labor minister David Bradbury as a partner.
- Edmund Tadros and Tom McIlroy
- Exclusive
- PwC tax scandal
Sold for $1, Scyne claws back a third of PwC’s revenue
Scyne, spun out of PwC a year ago, is heading towards $200 million in revenue, rebuilding a third of the roughly $600 million earned by its predecessor firm.
- Edmund Tadros
Consultants face decade-low growth slump
Annual growth in the sector is forecast to fall to its lowest level – apart from the short-lived pandemic slump – since 2015.
- Edmund Tadros
Path to Cats presidency goes through Boston Consulting Group
Critics have labelled Geelong a “boys’ club”. But the board of the Geelong Football Club has tended to draw from an even narrower pool.
- Myriam Robin
PwC makes first partner promotions since tax leaks scandal
The smaller-than-usual partner intake is the first since January 2023, and includes those whose promotion was deferred by the tax leaks scandal.
- Maxim Shanahan
June
Hollywood’s Jon Adgemis scores another courtroom cameo
Sweet dreams are over for Jon Adgemis – who has shown this country the true potential of private credit as an asset class – with reality closing in.
- Primrose Riordan
KPMG appoints ex-RAAF officer as part of halved partner intake
KPMG has announced a significantly reduced intake of new partners as it pivots away from generalist consulting.
- Maxim Shanahan
- Exclusive
- Cybersecurity
‘Merger of equals’ as two Aussie tech services firms become one
The combined business will compete in a growing but crowded field as firms scramble to up their cybersecurity and add AI to their services.
- Nick Bonyhady
Bonza’s administrator has form on spicy fees
Administering a company with no assets of its own isn’t particularly profitable insolvency work. Including for Hall Chadwick – though not for lack of trying.
- Myriam Robin
From union boss to KPMG chief: ‘Unlearning’ key to Paul Howes’ success
The senior KPMG partner is as surprised as anyone else that he will chalk up 10 years at the firm next month.
- Edmund Tadros
KPMG launches radical overhaul, cuts 200 senior jobs
KPMG Australia will overhaul its consulting business to focus on tech-related advisory and software installation as part of an $80 million cost-cutting exercise that will include cutting about 200 roles at the firm.
- Edmund Tadros
What Senate inquiry said about big four, now trying to ‘rebuild trust’
The big four consultancies have welcomed the Senate’s final report into the sector, which largely avoided direct criticism of individuals and firms.
- Maxim Shanahan
Greens call for accounting firms to be limited to 100 partners
The maximum size of accounting partnerships should be cut from 1000 to 100, and audit firms should be forced to separate their consulting divisions, the Greens say.
- Edmund Tadros and Maxim Shanahan
Inquiry calls for strict new rules for big four consulting firms
Parliamentary approval of contracts and a review of laws governing partnerships are among the final recommendations of a Senate inquiry into outsourcing.
- Edmund Tadros and Maxim Shanahan
- Exclusive
- AI
Meet KymTax: KPMG’s AI tool can do a day’s mundane tasks in an hour
The big four firm has built an AI research assistant for tax professionals to speed up how quickly they can provide clients with tax advice.
- Tess Bennett
The rare bright spot in a difficult consulting market
The Australian arm of Alvarez & Marsal has expanded to 54 managing directors and 300 staff since its launch and is now generating “tens of millions” in local revenue.
- Edmund Tadros
New unit to replace outside consultants in NSW
NSW will follow the federal government in setting up an in-house consulting unit to reduce spending on the major firms.
- Maxim Shanahan
- Exclusive
- Tax avoidance
‘Poacher turned gamekeeper’: The tax commissioner’s secret money trail
Before he was tax commissioner, Chris Jordan was involved in a transfer from a mystery company in the Isle of Man and a casino junket venture that turned out to be a Ponzi scheme.
- Neil Chenoweth
Consulting firms soften partner intakes despite rise in exits
The latest partner promotions and appointments at EY, Deloitte and PwC reflect the major downturn in advisory work.
- Maxim Shanahan and Edmund Tadros
