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

Welcome to the new offices of PKF Perth

After 28 years at our previous location in West Perth, PKF Perth is proud to announce our relocation to a modern and vibrant office space in the Perth CBD. The new office is conveniently located at Level 8, 905 Hay Street, Perth (also known as Dynons Plaza) and boasts a...

Darren Shillington

Managing Partner

Perth

Insights

ASIC surveillance results — areas of improvement for financial reporting and audit quality

In October 2023, ASIC published its annual surveillance report. The report highlights areas where the quality of financial reporting and audits can be improved. The surveillance report summarises findings from ASIC’s reviews of both financial reports (180 ASXlisted entities and large unlisted entities) and audit files (15 related audit files...

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Kevin Nguyen

Auditor

Perth

Externa audit Adobe Stock 496982693 2000x1000

Insights

ASIC’s financial reporting hit list for 30 June 2023

As we progress through the 30 June 2023 financial reporting season, the Australian Securities and Investments Commission (ASIC) has placed a strong focus on the current economic climate in which entities are operating and how this may affect their business, especially considering factors such as increasing interest rates and rising...

Kevin Nguyen

Auditor

Perth

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

How to identify intangible assets

Despite the widespread economic impact of COVID-19, the Australian market activity rebounded strongly in the second half of 2020 with a resurgence in company acquisitions and mergers. Although such transactions can have significant benefits for an acquiring company, the related accounting is often complex. AASB 3 ‘Business Combinations’ requires an...

Shane Cross

Partner

Perth

Insights

Top five things to think about before EOFY: Planning in the COVID era

COVID-19 has seen businesses all over the world suffer from temporary closures, customer number restrictions as well as a general decline in consumer spending especially during the initial lockdown period. Some industries have been more affected than others but with the many government assistance packages available and the return to...

Anthony Russo Battagliolo

Partner

Perth

Insights

New changes to ASX listing rules

During the second half of the 2019 calendar year, the ASX released a consultation paper on proposed changes which it has received and reviewed responses to. As of 1 December 2019, the majority of these changes will come into effect. Below is an overview of two common aspects that our...

Shane Cross

Partner

Perth

Insights

Interim reports: New disclosures for AASB 9 & 15

The new accounting standards for Revenue (AASB 15) and Financial Instruments (AASB 9) have now come into operation for years commencing after 1 January 2018. This not only effects the annual report but for disclosing entities, this will also impact the half year interim reports. Most articles have discussed in...

Shane Cross

Partner

Perth

Insights

Disclosure overload: Is it time to declutter the general purpose financial report?

The decluttering of general purpose financial reports (GPFR) has started to gain momentum in the accounting profession as the question of whether these reports are producing relevant information is being asked. The International Accounting Standards Board (IASB) has specifically stated that financial reports contain too much irrelevant information and have...

Simon Fermanis

Partner

Perth

Insights

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