This was confirmed by 70% of the Australian Chief Risk Officers and Senior Risk Managers in a spot poll of 50 top 100 ASX and government organisations last week. 

They rated their organisations as having insufficient risk training (58%), inadequate risk integration with normal management activities (65%) and not enough monitoring and reviewing of their risks (48%).

And as 

“Investigations are now complete and together with our legal team led by Michael O’Neill of NOT Lawyers, insolvency specialists, we have determined there are a number of causes of action against a number of parties,” Mr Weston said.

“Potential legal claims become statute barred after...

Deloitte Risk Advisory Partner Dean Kingsley said the changes will be welcomed by SOX-fatigued organisations and make compliance simpler for auditors and management.

“Although compliance will be less onerous, the changes will still present significant organisational challenges for the executive management to streamline their internal controls and reporting of financial risk.

“The key challenge for...

“As they stand, these reforms will be largely ineffective in making it easier for private companies to offer shares to their employee,” said Mr Tropeano.

“Attracting, developing and retaining talent continues to be a key business challenge facing organisations, and private companies will unfortunately continue to fight this talent shortage with one hand tied behind their backs.

“Private companies...

The second global Deloitte survey, “In the Dark II: What many boards and executives STILL don’t know about the health of their businesses”, highlights the change that is being forced at the top by the growing influence of the internet on customer behaviour as well the increased regulatory and shareholder scrutiny of...

“On the face of it, it might be thought that the New Zealand Government is bringing their corporate tax rate into line with Australia,” Mr De Palo said.

“However Australian companies pay a raft of other taxes that companies in New Zealand don’t pay, such as payroll tax, land tax and stamp duties - that is, the State taxes.

“These of course feed into our competitiveness on a...

“All things being equal, it definitely increases the attractiveness of undertaking R&D in New Zealand versus Australia,” Mr Duchini said.

“The credit is comparable to an Australian R&D deduction of 150 per cent for qualifying expenditure.

“The decision to have a volume based credit is sound as it leaves the door open to introduce an additional incremental benefit at a later date, which would further enhance the attractiveness of the...

Tax Partner Adele Watson explained that insurance companies have struggled with the Capital Gains Tax that may arise when a liability is discharged for an amount that is different to the amount used for tax cost setting purposes.

“This is relevant to the outstanding claims reserves that are maintained by insurers on their balance sheet according to generally accepted accounting...

Selected by a six member judging panel for global professional services firm Deloitte and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), the Peter Corrigan International Exchange Award recognises outstanding young individuals in the Asia Pacific region.

The annual awards were launched in 2004 to support talented young insurance professionals and to strengthen insurance industry links throughout Asia Pacific.  Established by Deloitte and...

Deloitte Management Pty Ltd Director, Tony Brain, said the decision was welcome news for members and will assist in ensuring ongoing public confidence in the superannuation industry.

“The Minister’s decision sends a strong message to super fund members, that the government will protect your hard earned dollars if your fund suffers a financial loss as a...