Oceania: Accounting and Audit

An Australian company's AUD 168,000 fine for failing to lodge audited financial reports reveals a widespread challenge: businesses often cross into mandatory audit territory through organic growth without realizing it. As revenue, assets, or headcount expand, companies can unintentionally trigger obligations under the Corporations Act, with consequences extending far beyond regulatory penalties to impact financing, transactions, and investor confidence.

The Australian Securities and Investments Commission (ASIC) has published its financial reporting and audit focus areas for the 2025-26 financial year.

Clients should be advised to secure loans made to a company (related party credit loan accounts).

Trust accounts hold significant funds on behalf of clients across legal, real estate, and strata management sectors, yet weak controls and high transaction volumes create...

When high-net-worth separations involve businesses, trusts, or suspicions of hidden assets, forensic accountants become essential financial detectives. They trace concealed money, value complex holdings...

Australian charities operate in a position of significant trust. They safeguard public funds, deliver essential services and support some of the most vulnerable members of the community.

Summary judgment offers Queensland creditors a powerful tool to resolve debt recovery litigation without a full trial, but success requires more than proving an unpaid debt. Courts demand clear evidence that the defence has no real prospect of success and that judicial determination of factual disputes or credibility issues is unnecessary. Understanding when to apply, what evidence strengthens your case, and which common mistakes undermine otherwise strong applications can mean the difference between swift

As the end of financial year approaches, businesses face mounting pressure to clear outstanding debts and strengthen cash flow. This practical guide reveals five essential strategies for maximising debt recovery before 30 June, from establishing clear contractual terms to knowing when professional intervention becomes necessary.

Business growth expert Mark Calleja joins The Cut to discuss why many SME owners remain trapped at the seven-figure plateau despite working harder than ever. Drawing from practical experience, he reveals the operational blind spots, cashflow mistakes, and mindset barriers that prevent businesses from scaling beyond their current limitations.

When you've built a business or professional practice, separation raises critical questions about goodwill valuation. Understanding the distinction between personal and commercial goodwill can shift settlement figures by hundreds of thousands of dollars, making expert valuation and strategic legal advice essential for protecting what you've built.

An Australian company's AUD 168,000 fine for failing to lodge audited financial reports reveals a widespread challenge: businesses often cross into mandatory audit territory through organic growth without realizing it. As revenue, assets, or headcount expand, companies can unintentionally trigger obligations under the Corporations Act, with consequences extending far beyond regulatory penalties to impact financing, transactions, and investor confidence.

An Australian accounting business wanted to generate more opportunities and smooth out its monthly revenue. Here is their analysis and the actions they’ll take, which could be of value to many firms.