Ernst &Young Newsroom News Releases - Ernst & Young - Australia

2011 News releases

December 2011

• New head of Adelaide for Ernst & Young
  19 December 2011
  Ernst & Young today announced Chris Sharpley as the new Office Managing Partner for Adelaide, effective 1 February 2012.
  
• M&A 2012 outlook: corporates tread warily, uptick in private equity deals
  19 December 2011
  Private equity deals, some corporate divestments, and M&A fuelled by resources, infrastructure and government asset sales are on the agenda for transactions in Australia in 2012.
  
• ASIC guidance on use of non-IFRS financial information
  12 December 2011
  The Australian Securities and Investments Commission (ASIC) has released detailed guidance on the disclosure of financial information prepared or presented on a basis not in accordance with accounting standards.
  
• Ernst & Young Sydney Cycle Day with Cadel Evans and Shane Kelly
  12 December 2011
  Eighty business leaders and Ernst & Young people got on their bikes on Sunday to cycle from Manly to Palm Beach in the first Ernst & Young Sydney Cycle Day.
  
• Impact of draft prudential capital standards for insurers operating in Australia
  9 December 2011
  Ernst & Young has examined the likely impact of today's APRA draft prudential capital standards release for insurers operating in Australia.
  
• BlakandBlack.com
  Corporate statement
  7 December 2011
  Ernst & Young has become aware of a recent post on website BlakandBlack.com.   We condemn the comments made by the alleged employee of Ernst & Young. Ernst & Young has no current or past record of an employee by the name of Tom Payne.
  

November 2011

• Ernst & Young expands its forensic technology and discovery services team
  29 November 2011
  Ernst & Young has added five experienced electronic document management and forensic professionals to its existing forensic technology and discovery team to tackle the increasing demands of regulatory compliance and rising litigation related work.
  
• Ernst & Young Brisbane Cycle Day with Cadel Evans and Shane Kelly
  27 November 2011
  Eighty business leaders, Ernst & Young people and their families will get on their bikes today and cycle from Southbank to Mount Cotton in the first Ernst & Young Brisbane Cycle Day.
  
• Ernst & Young announces appointment of Matt Rennie as Oceania Power & Utilities Leader
  21 November 2011
  Based in Brisbane, Rennie joined Ernst & Young in February this year from Energy Advisory Services and will lead Ernst & Young's teams of assurance, advisory, transactions, economics and tax professionals in working with clients across the sector.
  
• A long way from suburban garage start-up for Australian Entrepreneur Of The Year
  18 November 2011
  Michael Malone, founder and CEO of Australia's second largest DSL internet service provider iiNet, has been named the 2011 Australian Ernst & Young Entrepreneur Of The Year®.
  
• Accounting Boards' proposals on revenue recognition to affect when entities can recognise revenue
  16 November 2011
  The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) has released revised proposals that will bring significant changes to when companies record their revenue, particularly for those that provide multiple goods or services in a single contract.
  
• Impact of draft Liquidity prudential standard for banks operating in Australia
  16 November 2011
  Ernst & Young has examined the likely impacts of APRA's draft updated APS 210 Liquidity prudential standard. As anticipated, in today's release APRA has not widely departed from the Basel Committee on Banking Supervision release in December 2010 – Basel III: International framework for liquidity risk measurement, standards and monitoring III release.
  
• Companies say global tax landscape more volatile and contentious and expect more controversy in years to come
  16 November 2011
  Ernst & Young's 2011-2012 Tax risk and controversy survey reports the dramatic shift in the global economy is having a significant effect on tax policy, enforcement and businesses by forcing companies and governments into more clashes over tax laws and how they should be enforced.
  
• Ernst & Young Canberra office continues growth
  16 November 2011
  Ernst & Young's Canberra practice is continuing its strong growth as a result of increasing demand from the public and private sectors.
  
• Ernst & Young Cycling Day 2011 with Cadel Evans
  13 November 2011
  More than 80 business leaders and Ernst & Young people will cycle from Elwood to Mornington, led by Tour De France 2011 winner Cadel Evans and Australian cycling champion Shane Kelly, in the second annual Ernst & Young Cycling Day.
  
• Business still considering how to plan for a carbon price: Ernst & Young
  8 November 2011
  Speaking today at Carbon Expo Australasia, Ernst & Young's climate change and sustainability leader Mathew Nelson said businesses now had short term certainty with the passing of the Clean Energy legislation, but without bipartisan support for the legislation they were hesitant to plan for the medium to long term.
  
• Support for Australian entrepreneurs pivotal to job creation and innovation
  7 November 2011
  Australia is among the easiest start-up settings for entrepreneurs in G20 countries, but more could be done to improve access to funding and provide coordinated support according to a new report from Ernst & Young.
  
• Australian banking environment: choppy water, with continuing swell
  3 November 2011
  Ernst & Young has analysed the full-year results of Australia's largest banks for 2011 and has found that while there is a continued robustness in the sector, earnings and revenue growth options are likely to become more challenging over the next 12 months.
  
• Security threats an afterthought in the race to adopt new technologies and social media
  3 November 2011
  In the race to adopt new technologies and move into the increasingly borderless world of cloud computing and social media, the gap between business needs and tackling new and complex security threats is growing.
  

October 2011

• Ernst & Young renews relationship with Cadel Evans
  31 October 2011
  Ernst & Young today announced a continued relationship with Cadel Evans, Tour De France 2011 winner, which will include a broader program of events for our people and our clients over the next three years.
  
• Ernst & Young appoints new Oceania Banking and Capital Markets leader
  27 October 2011
  Ernst & Young today announced the appointment of Paul Siviour to the role of Oceania Banking and Capital Markets leader.
  
• Australian business wastes $109 billion in wages per year in unproductive work
  17 October 2011
  A new quarterly productivity survey released today reveals that while the majority of Australian workers are highly motivated, almost a fifth of their time (18%) at work is wasted, costing organisations an estimated $109 billion in wages alone.
  
• Ernst & Young supports ground-breaking exhibition
  Picasso: Masterpieces from the Musée National Picasso, Paris
  11 October 2011
  Ernst & Young's long-standing commitment to the arts now boasts a new high-profile addition, with the announcement of a major sponsorship of the upcoming exhibition of the work of Pablo Picasso at the Art Gallery of NSW in Sydney.
  
• Growth agenda tempered by global turmoil
  10 October 2011
  Despite global economic turbulence and market turmoil, 41% of Australasian* companies expect to make an acquisition in the next 12 months, according to Ernst & Young's latest six-monthly Capital Confidence Barometer.
  
• Taking tax reform forward
  6 October 2011
  The Government's Tax Forum has highlighted the need for further work on Australia's complex tax system, Ernst & Young Tax Policy Services Leader Alf Capito says.
  

September 2011

• The mild-mannered accountant image is about to get a serious overhaul
  30 September 2011
  Accountants around the country can celebrate being part of a much-loved profession today on the inaugural "I Heart Accountants" Day.
  
• Ernst & Young Australia wins Accounting Firm of the Year Award – again!
  23 September 2011
  Ernst & Young Australia has been awarded the CFO DealBook Accounting Firm of the Year Award for the third consecutive year.
  
• Babcock & Brown Limited (in liquidation) proceedings settled 
  Corporate Statement
  19 September 2011
  Ernst & Young today announced that it has settled the Babcock & Brown proceedings. 
  
• Gender diversity – what will it take for corporate Australia to lift its game?
  19 September 2011
  Despite the increased awareness of gender equity issues, gender equity programs and seemingly diversity champions in every corner, Australia is yet to see a tangible change when it comes to the representation of women in senior roles.
  
• Revised MRRT legislation provides clearer picture for miners
  18 September 2011
  The second draft of the Mineral Resource Rent Tax (MRRT) legislation is considerably more robust and provides a clearer picture for miners on implications for M&A and administrative aspects of the tax, according to Ernst & Young tax partner Andrew Nelson.
  
• NSW infrastructure commitment will provide confidence
  6 September 2011
  The NSW Government's $62.6 billion commitment to infrastructure in today's budget will provide further confidence that progress will be made on the State's infrastructure projects, according to Ernst & Young's NSW Infrastructure Leader David Larocca.
  
• Basel III impact for Australian banks
  6 September 2011
  Ernst & Young have examined the likely impacts of the release of APRA's Basel III package on Australian banks and found there are a number of key implications for the industry.
  

August 2011

• Ernst & Young Australia's FY11 results point to fast-paced growth
  22 August 2011
  Ernst & Young Australia has delivered FY11 revenue of $1.052b, up from $917m in FY10, CEO and Area Managing Partner Rob McLeod announced today.
  
• Commonwealth Bank on board to support entrepreneurs
  22 August 2011
  The Commonwealth Bank has signed a three year agreement to become the new primary sponsor of the prestigious Ernst & Young Entrepreneur Of The Year program in Australia and New Zealand.
  
• Southern entrepreneurs shine at awards night
  12 August 2011
  Entrepreneurial talent from across Victoria and Tasmania was celebrated last night at the 2011 Ernst & Young Entrepreneur Of The Year Southern region awards ceremony in Melbourne.
  
• Resource nationalism tops miners' risk list, supply constraint risks dominate
  8 August 2011
  Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues continue to dominate the top 10 rankings in Ernst & Young's annual Business risks facing mining & metals 2011-2012 report, released today.
  
• SA & NT entrepreneurs make their mark
  5 August 2011
  Top entrepreneurs from South Australia and the Northern Territory took centre stage last night at the 2011 Ernst & Young Entrepreneur Of The Year Central region awards in Adelaide.
  
• Greater expectations on tax and financial reporting challenge world's largest companies
  2 August 2011
  An Ernst & Young report has found Australian companies with global operations are struggling to comply with increasing regulation.

July 2011

• Best in the west: 2011's top Western Australian entrepreneurs named
  29 July 2011
  The top Western Australian entrepreneurs for 2011 were honoured last night at the annual Ernst & Young Entrepreneur Of The Year Western region awards ceremony at Burswood Entertainment Complex.
  
• Ernst & Young continues growth in Queensland Transaction Advisory Services
  26 July 2011
  Ernst & Young congratulates retiring partner Grant Murdoch on his appointment as an independent director of Campbell Brothers Limited.
  
• Queensland entrepreneurs take out top honours
  22 July 2011
  The Sunshine State's top entrepreneurs for 2011 were announced last night at the annual Ernst & Young Entrepreneur Of The Year Northern region awards in Brisbane.
  
• Countdown: Preparing business for a carbon constrained world
  19 July 2011
  Australian businesses need to explore the challenges as well as analyse the raft of stimulus packages being offered under the government's Climate Change Plan: Securing a Clean Energy Future, to avoid missing opportunities.
  
• Universities at risk in a demand-driven market: Ernst & Young study
  11 July 2011
  Many Australian universities have focused on the growth opportunities presented by the forthcoming change to a demand-driven model in higher education, but few have explored the potential downsides.
  
• Ernst & Young and ANU collaborate
  6 July 2011
  Lucille Halloran, Managing Partner of Ernst & Young Canberra and Professor Ian Young, Vice-Chancellor of The Australian National University (ANU) will sign a Memorandum of Understanding at Ernst & Young's Canberra offices today.
  
• EY announces new partners across Asia-Pacific region for 2011
  1 July 2011
  To support the firm's growth strategy across the Asia-Pacific, Ernst & Young today announced 104 partners had been promoted across the area, effective 1 July.
  
• Ernst & Young launches integrated Asia-Pacific Financial Services Organization
  1 July 2011
  Ernst & Young today announces the launch of the newly-integrated Asia-Pacific Financial Services Organization (FSO). The first of its kind in the region, the Asia-Pacific FSO will enable Ernst & Young people to work seamlessly across borders to provide improved service to financial services clients.

June 2011

• Ernst & Young welcomes ASIC's report on audit firm quality
  29 June 2011
  Ernst & Young has welcomed ASIC's 2009-10 Audit firm inspection report, which was released today.
  
• NSW & ACT top entrepreneurs for 2011 named
  24 June 2011
  The top entrepreneurs in NSW and ACT for 2011 were named at the annual Ernst & Young Entrepreneur Of The Year Eastern Region Awards in Sydney last night.
  
• Mining tax detail emerges
  10 June 2011
  The release today of the Mineral Resource Rent Tax (MRRT) draft legislation provides the first real glimpse of how the tax will be calculated when it is proposed to apply from 1 July next year.

May 2011

• Diverse field in 2011 Ernst & Young Entrepreneur Of The Year Awards
  24 May 2011
  A select group of 79 of this country's top entrepreneurs are in the running to be named this year's Australian Ernst & Young Entrepreneur Of The Year.
  
• Ernst & Young Brisbane announces move to new 6 Star Green Star building
  18 May 2011
  Ernst & Young Brisbane today announced its Brisbane office would be relocating to new premises at "One One One" Eagle Street in mid 2012.
  
• New IASB standards may change financial positions of fund managers
  13 May 2011
  Banks, private equity funds, asset managers and real estate investment funds will be most affected by the two new standards released overnight by the International Accounting Standards Board (IASB).  
  
• Technology does matter
  13 May 2011
  Business needs to significantly elevate the role of Information Technology (IT) to prepare for a transformation future says Ernst & Young. 
  
• New joint venture standard means significant change to reported balance sheets
  13 May 2011
  Industries that commonly form joint venture entities to deliver projects, such as mining, oil and gas, real estate and construction may be impacted by the new standard on joint arrangements released today by the International Accounting Standards Board (IASB).
  
• Federal Budget 2011: Marking time
  11 May 2011
  The Federal Government's fourth Budget is restrained, meeting the Government's goal of returning to surplus by FY13, with few major new revenue or spending initiatives in the current year, Ernst & Young says. 
  
• Half-year bank results: Solid and stable but with lingering headwinds
  5 May 2011 
  Ernst & Young has analysed the half-year results of Australia's largest banks for 2011 and sees that stability is returning to the economic environment, although there remains some caution around the pace of business credit growth.
  
• Ernst & Young appoints new People Leader
  3 May 2011
  Ernst & Young today announced McGregor Dixon as the firm's new People leader for Oceania.

March 2011

• Miners must act now to assess impact
  24 March 2011
  Miners caught by the Mineral Resource Rent Tax (MRRT) must act quickly to clarify "grey" areas in the implementation announced by the Federal Government today.
  
• Ernst & Young awards staff for contribution to building a diverse and inclusive workforce as female Executive representation grows to over a third 
  24 March 2011
  Ernst & Young today announced the recipients of awards that recognise the contribution and efforts of our people who are helping to advance women at the firm.
  
• Justin Walsh to lead Brisbane transactions team at Ernst & Young
  23 March 2011
  Ernst & Young today announced Justin Walsh will lead the firm's Brisbane Transactions Advisory Services division, taking over from Grant Murdoch who will be retiring from the partnership next year.
  
• Profit warning levels not likely to improve
  18 March 2011
  The number of profit warnings being issued by Australian companies is not likely to drop significantly in the next 12 months, says Ernst & Young's Corporate Restructuring Leader Vince Smith.
  
• Entrepreneur Of The Year search begins
  18 March 2011
  The search for Australia's leading entrepreneur is on again with nominations open for the Ernst & Young Entrepreneur Of The Year Award.
  
• Ernst and Young recognised as an Employer of Choice for Women for the tenth year in a row
  7 March 2011
  For the tenth consecutive year, Ernst & Young has been recognised by the Equal Opportunity in the Workplace Agency (EOWA) for Equal Opportunity programs that recognise and advance women in the workforce.
  
• Carbon price decision trigger for business
  2 March 2011
  Businesses need to prepare today for a carbon priced future in just over 12 months says Ernst & Young.
  
• Customer trust a global issue for banks
  2 March 2011
  Despite efforts by many banks to rebuild consumer confidence in the wake of the financial crisis, trust in banks fell in the past 12 months in countries hit hard by the downturn, according to a new report from Ernst & Young. By contrast, banks in some regions relatively unaffected by the crisis are seeing trust levels rise.

February 2011

• Economist ranks swell at Ernst & Young
  28 February 2011
  Public and private sector demand for robust economic analysis to underpin infrastructure spending is fuelling the growth in economic advisory in the professional services sector.
  
• Mining M&A resurgence to accelerate in 2011
  24 February 2011
  Mid sector consolidation and offshore acquisitions will be the hallmark of 2011 deal activity in the Australian mining and metals sector, as global M&A activity continues its resurgence in 2011, says Ernst & Young's Paul Murphy, Asia Pacific Mining & Metals Transaction Leader.
  
• Ernst & Young appoints another female office managing partner to lead
  Sydney office
  21 February 2011
  Ernst & Young today announced Lynn Kraus would become the firm's Office Managing Partner for Sydney, commencing later this month. The appointment follows Sydney Leader Paul Flynn retiring from the firm this month to pursue an opportunity in the mining industry.
  
• Wave of global regulations mean no leeway for bribery and corruption in 2011
  2 February 2011
  Australian CEOs and Directors could be prosecuted for the corrupt practices not only of their own company, employees or contractors working outside Australia, but also the illicit activities of their agents, partners and joint venture partners under global legislation targeting bribery and corruption.

January 2011

• Demand for re-financing builds
  31 January 2011
  Competition for capital is set to get hotter with a "wave" of re-financing due in the next 12-18 months, says Ernst & Young's debt advisory leader, Paul Clark.
  
• Helping business navigate the insurance claims process
  25 January 2011 
  Ernst & Young Australia is bringing in extra insurance claims professionals from Ernst & Young's US and UK firms – including advisers who worked with businesses in the aftermath of Hurricane Katrina – to help flood-affected companies manage insurance recovery claims, freeing them up to focus on the enormous task of rebuilding their businesses.
  
• Transfer pricing outcomes of multinationals under greater scrutiny as tax authorities increase enforcement efforts
  25 January 2011
  Companies are gearing up to minimise the impact of increased cross-border tax compliance as tax authorities around the world ramp up efforts to replenish government revenues in the wake of the financial crisis.