Our latest insights

The Australian Government has allocated $167.8m in the Federal Budget to support the implementation of the wide-ranging reforms to the anti-money laundering and counter-terrorism financing (AML/CTF) regime.

In the latest episode of Beyond the Numbers with Grant Thornton, Neil Jeans, Risk Consulting Partner who specialises in financial crime risk management, discusses the current state of Tranche 2 AML reforms in Australia.

Accounts payable and payroll fraud conducted by employees is an issue that can have a negative impact on businesses. Detecting and investigating these types of fraud requires a systematic approach to identify irregularities, gather evidence, and take appropriate action against the perpetrators.

Workplace fraud is a serious and costly issue that can impact organisations across different sectors and regions – and is becoming increasingly relevant as cost-of-living pressures rise.

To minimise the impact of fraud in Australia and globally, we are promoting anti-fraud awareness and education with a series of articles during International Fraud Awareness Week. This article is the first in our series and takes a closer look at the most commonly experienced types of fraud, the warning signs, and fraud detection.

In this episode of Navigating the New Normal, Katherine Shamai, Partner in the Risk Consulting team unpacks what modern slavery is and what businesses are required to report in Australia.

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?

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.

We recently sat down with NSW Club leaders to discuss Environmental, Social, and Governance (ESG) considerations on the Club industry in the short to medium term. The International Sustainability Standards Board (ISSB) has now released their standard on Sustainability, and Treasury has sent a draft policy on how the standards will be adopted in Australia. Although there is no set guidance at this stage, it is most likely Clubs will need to adopt this standard in FY26.

June 30 is fast approaching, and with it comes tax scammers, the escalating cost of living means their activity is on the rise, we outline some scams for you to be aware of.

The current cost of living crisis compounded with salaries not keeping up with inflation has created a climate in which the fraud triangle can emerge. Internal Audit programs are a valuable tool that can be used to assess and report this.

With the introduction of the Modern Slavery Act in 2018, Australia became a leading jurisdiction in combating Modern Slavery, which is defined as the exploitation of workers where offenders use coercion, threats or deception to exploit employees, and undermine their freedom. The Act made provisions for a statutory review of the act, which commenced in 2022 and concluded with the release of the Report of the statutory review of the Modern Slavery Act 2018 (Cth) by the Attorney General's Department on 25 May 2023.