Our latest insights

Ten years after the implementation of the Living Longer. Living Better Reforms, the aged care sector braces for more change. With the Federal Budget on the horizon, it will be interesting to see what considerations are given to a sector that faces continued uncertainty.

In the dynamic world of business, Chief Financial Officers (CFOs) play a pivotal role in steering organisations towards financial success. Their responsibilities extend far beyond traditional financial management, encompassing strategic decision-making, risk assessment, and now more than ever – technological adaptation. As we delve into 2024, the challenges and opportunities facing CFOs have evolved, encouraging them to embrace a new era of financial leadership.

Treasury Laws Amendment (Making Multinationals Pay Their Fair Share - Integrity and Transparency) Act 2024

The transition to Expected Credit Loss (ECL) modelling under AASB 9 revolutionises financial accounting. Success relies on understanding ECL principles, ensuring data quality, robust methodologies, and effective governance.

Discover APRA's proposed new guidelines on Interest Rate Risk in Banking Book (IRRBB) through APS 117, impacting non-significant financial institutions (non-SFI). Learn about key requirements, including risk management framework integration, technology capacity assessment, and data quality evaluation, ensuring compliance and effective risk management.

Read more for insights from the latest APRA statistics and ICAAP reviews highlighting the Australian banking sector's strengthened capital management. Learn key considerations for ADIs to balance risk and growth effectively, including data quality, operational risk focus, and leveraging automation.

Finance teams are essential to decision-making, planning, and growth in any organisation. And as the business landscape changes, the finance function evolves. That's why it's important to recognise and embrace the growing importance of technology, collaboration, sustainability, and risk management in today's finance functions.

In a welcome response to feedback from industry and the accounting profession, the Queensland Building and Construction Commission no longer requires entities in Category 3 or Self-Certifying Categories 1 and 2, to provide General Purpose Financial Statements.

APRA's proposed changes to ADI liquidity and capital standards have sparked discussions across the banking sector. To encourage a resilient banking future, we put forward a submission to APRA last week in response to the changes.

What’s new for December 2023

Accounting standards issued but not yet effective for 31 December 2023

On 12 January 2024, Treasury released draft legislation on mandatory climate-related financial disclosures in Australia. Subject to the legislation being enacted by Parliament and receiving Royal Assent by the end of June 2024, the legislation will be in force for financial years commencing on or after 1 July 2024.