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News Today’s release of the draft Foreign Account Tax Compliance Act (FATCA) regulations by the US Treasury and IRS will add extra pressure to Australian financial institutions already feeling the burden of a raft of other regulatory changes. Ernst & Young has announced the opening of a new office in Port Moresby, Papua New Guinea (PNG). Infrastructure development and non-core divestments will be key drivers of mining and metals sector M&A in Australia in 2012, according to Ernst & Young’s Australia and Asia-Pacific Transactions Leader Paul Murphy. Ernst & Young has teamed with Babcock to win a contract to support the Royal Australian Navy (RAN) in delivering a blueprint to help rebuild navy engineering capability. Ernst & Young today announced the signing of a three year sponsorship deal with the newly formed Australian Academy of Cinema and Television Arts (AACTA).
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