Audit revenue recognition long term construction contracts

Insights

Audit and assurance insights: Revenue recognition for long-term construction contracts

Long-term construction contracts are rarely straightforward. They involve evolving scopes, multiple stakeholders, and significant financial commitments.Under AASB 15 Revenue from Contracts with Customers, recognising revenue correctly is one of the most critical and challenging tasks for construction businesses. Misjudging progress or failing to disclose key assumptions can lead to material...

Vaishali Arora

Audit Manager

Canberra

Insights

Grant funding and revenue recognition for profit earning companies: Ensuring compliance with AASB standards

This article demonstrates how organisations that earn a profit can confidently manage grant funding and recognise revenue in line with AASB 120. By leveraging PKF Canberra’s integrated audit expertise, compliance, transparency, and reliable financial reporting are ensured.

Ross Di Bartolo

Partner

Canberra

Insights

What businesses need to include in a compliant whistleblower policy

Under the Corporations Act 2001 (Cth), public companies, large proprietary companies, and corporate trustees of registrable superannuation entities must have a whistleblower policy. Beyond compliance, a well-structured policy signals to employees and stakeholders that the organisation prioritises integrity, accountability, and transparency. PKF Australia’s whistleblower program provides a market-leading solution for...

Sarah-Jane Jacques

Director

Perth

Podcasts

“Be kind, you never know what someone might be carrying”: In recognition of Disability Pride Month

Each July, Disability Pride Month serves as a global reminder to acknowledge, celebrate, and elevate the voices of people living with disability. At PKF, it’s an opportunity to reflect on how we nurture inclusivity and ensure every member of our team feels supported, understood, and empowered to thrive, exactly as they are.

Emma Hansen

Head of Marketing

Sydney, Newcastle

Insights

Understanding and navigating family dynamics in farm succession

Family dynamics are at the heart of farm succession planning, where relationships, roles, and expectations among family members can significantly influence the success or failure of the transition process. Ensuring a harmonious handover not only safeguards the farm's future but also maintains family unity.

Steve Meyn

Chairman

Australia

Insights

The difference between equity and equality

Quite often, the terms ‘equity’ and ‘equality’ are used interchangeably, however there are subtle yet important differences that are useful to understand as we – as individuals and as organisations – seek to attract and retain talented people, and advance as employers of choice. The Cambridge Dictionary defines equity as...

Kym Reilly

Partner

Sydney, Newcastle

Insights

AASB 16 Leases: Assess the financial impact now

Is the new Leasing Accounting Standard AASB 16 just changing accounting numbers or will disclosure of the financial impact which is imminent, change the way business operates? While AASB 16 Leases which requires Operating Leases to be put on the balance sheet, does not apply to financial statements for reporting...

George Diamond

Managing Partner

Canberra

Insights

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Vaishali Arora

Ross Di Bartolo

Sarah-Jane Jacques

Emma Hansen

Steve Meyn

Kym Reilly

George Diamond

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