10. Cheating at KPMG | Ethical Difference Makers?| Xero Reports

From The Trenches

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What a week to make worst on ground. No matter how hard you tried, some other company did it worse.

Xero are pulling their much loved version 1 reports. That was a show until…

KPMG got caught cheating and CA did barely anything about it. That was a show until…

CAANZ took 18 months to do what little they did causing all three accounting bodies to get a please explain from the Professional Standards Authority and somehow found a way to defend their actions and blame their processes instead of any one person.

Sounds like the type of unaccountable culture that could lead to….say……systemising ethical breaches.

Best on Ground

David

Xero’s Emotional Tax Return Campaign https://www.linkedin.com/posts/joseph-lyons-au_running-your-own-business-is-an-incredibly-activity-6949868389066514432-7Qly/?utm_source=linkedin_share&utm_medium=member_desktop_web

Accountants Daily new Editor Phil King is capturing the mood of the industry with tech news and industry voice

Paul

New Xero product - Xero go. Interesting given the current app already has a lot of the functionality. https://www.xero.com/blog/2022/07/xero-go-for-uk-based-sole-traders/

Beta testing new tech is good for the customer.

AI in Food - https://www.afr.com/technology/pizza-giant-gets-into-maths-of-preparing-food-before-orders-arrive-20220713-p5b1g0

Worst on Ground

Paul

CA can’t uphold the ethics of the profession

https://www.afr.com/companies/professional-services/professional-regulator-blasts-shocking-delay-in-kpmg-cheating-probe-20220718-p5b2jn

Perception that CA treat big firms better than small may not be true
CAANZ blame their processes, but what about their people? Who is actually responsible?
The by-laws can’t punish the right entities
How important is being part of the Professional Standards Authority?

ANZ - MYOB - Suncorp - Myob

https://www.arnnet.com.au/article/699933/anz-drops-myob-acquisition-talks/

David

Rezza hood manages to upset accountants and bookkeepers in one overly salesy Hpost

https://www.linkedin.com/posts/rezahooda_accountants-accountingandaccountants-activity-6953303419453378560-b5xX/?utm_source=linkedin_share&utm_medium=member_desktop_web

Mass Media Fear mongering on interest rates makes us dumberhttps://www.linkedin.com/posts/michaelhutchens_australias-mass-media-reporting-of-the-reserve-activity-6949950144876290049-rnjx/?utm_source=linkedin_share&utm_medium=member_desktop_web

Atlassian is so unprofitable but we worship them

https://www.smartcompany.com.au/startupsmart/analysis/atlassian-unprofitable-valuation-adam-schwab/

Why VCFO Fails https://www.linkedin.com/feed/update/urn:li:activity:6947990583122513920/ VCFO association is part of the solution they spend their time trying to educate on the difference https://vcfoassociation.com.au/

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