Tag Archives: regulation

Facilitation payments unacceptable

Events are overtaking practice as reported in the Australian Financial Review, 15 November 2011, p.3 under the heading ‘No excuses: bribery law to change‘. The report indicates that Australian companies will no longer be able to avoid penalties of up to $11 million by showing that ‘facilitation payments’ are common in the country where the […]

Accountancy firms – do they want their graduates to perform bank reconciliations or to think?

Universities have long been criticised by professional practitioners as producing graduates who are not ‘job ready’.  A humourous litmus test is whether a new graduate employee can undertake a bank reconciliation. But the modern accounting graduate needs to be much smarter and well versed in far more than reconciliation as far as bank accounts are […]

Bribery and corruption – where are the accountants and auditors?

Research commissioned by The Australian Council of Superannuation Investors (ACSI) considers ‘Anti Corruption & Bribery Practices in Corporate Australia‘, (October 2011), in the top 100 and 200 companies in corporate Australia. Transparency International also tells us where perceptions of bribery and corruption are most likely to be found in the world. Australia is perceived to […]

SMEs change their business because of environmental concerns

The quarterly Sensis® Business Index in Australia has been tracking SME confidence and behaviour since February 1995. It surveys 1,800 metropolitan and regional SMEs from areas such as manufacturing, wholesale and retail trade, hospitality, construction, communication, property, business services, health, community services, cultural and recreational industries. The June 2011 Index reports that looking at environmental […]