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The many facets of financial forecasting

The Australian Accounting Standards Board (AASB) has released the exposure drafts of three proposed Australian Sustainability Reporting Standards: [Draft] ASRS 1 General Requirements for Disclosure of Sustainability-related Financial Information; [Draft] ASRS 2 Climate-related Disclosures, and [Draft] ASRS 101 References in Australian Sustainability Reporting Standards.

Outsourced CFO services can help scale up businesses, domestic established businesses and international subsidiaries with the demands of doing business

Often a family business starts with Mum and Dad and family governance isn’t an issue as both parents want the best for their children, and their values and vision for the future are aligned.

As this landscape shifts, family businesses must become aware of their carbon emissions and develop a proactive carbon reduction strategy, whether it be aiming for net zero or another reduction target.

As the Real Estate and Construction industry continues to face increasing costs, thin profit margins, heightened scrutiny and regulatory changes, the potential for fraud and corruption is higher than ever. What measures can your business put in place to best stay protected in the face of rising financial crime?

Diversity, diversity in family business, Grant Thornton , governance in family business, business governance

Cyber security is a systemic risk to the prosperity of Australia; the problem is going to get worse before it gets better; it will impact everyone; and everyone has a role to play in addressing the issues.

Organisations that used to have the option of self-assessing their income tax exemption status will soon be required to submit an annual self-review report to the Australian Taxation Office.

Women face unique challenges when it comes to working in the superannuation industry. Grant Thornton’s SuperWomen Initiative Survey 2023 aims to better understand your experiences and expectations, the support systems you find valuable, and the pathways you envision for professional growth.

CFOs have a pivotal role in preventing and mitigating fraud risks within organisations. They should establish a strong governance framework promoting ethical behaviour, transparency, and accountability. Collaborating with technology leaders, CFOs can implement anti-fraud technology, stress-testing measures, and anti-money laundering controls. Maintaining an ethical culture through awareness, education, and reporting mechanisms is crucial.

The recent Court decision in the Bechtel Australia Pty Ltd v FC of T 2023 (the Bechtel case) ruling that fly-in-fly-out (FIFO) employees’ travel is deductible, has created a shift in the treatment of travel expenses for workers in mining, gas, transport and other industries. This ruling contrasts with the John Holland Group Pty Ltd v Commissioner of Taxation [2015] FCAFC82 (the John Holland case), causing notable effects.