Cyber-attack and corruption the standout financial crimes of 2020

16 November 2020 | Dean Newlan & Jessica Bradbury

The two standout financial crimes of 2020 were cyber-attack and corruption. While each was common prior to COVID-19, the pandemic has raised the threat level of both across all sectors. Cyber-attacks frequently reported during the year included: business email compromise, phishing, ransomware and insider threat. Cyber-attack drivers in 2020 included: Pervasiveness of IT within business and the general population; Inexorable pursuit of internet-based interaction with external...

Understanding value during COVID-19

9 October 2020 | Hugh Monaghan & James Swan

COVID-19 has had far reaching economic impacts across numerous industries. As we move through the first earnings season since the beginning of the pandemic, it is important for companies and investors to understand and assess the true impact it has had on earnings, and ultimately value. In March companies were forced to react quickly to the implementation of lockdowns across Australia and the globe. Some...

Rescuing and recapitalising a business: triangulating your offer

30 September 2020 | Keith Crawford & Christopher Davey

McWilliam’s Wines Group is currently in the process of being recapitalised via a Deed of Company Arrangement (‘DOCA’). Although the press reported members of the McWilliam family had proposed an alternative DOCA to regain control of the business, a private equity firm was ultimately the successful DOCA proponent. Why was the private equity firm’s proposal more attractive to the Voluntary Administrators (‘VA’) than the opportunity...

Early warning signs for commercial property on the road...

24 September 2020 | Barry Kogan, Matthew Caddy & Mark Holland

Australia currently has a “two tiered” property market with the ongoing Victorian lockdown likely to have longer lasting impacts to Victorian property value and returns. However, ongoing tensions between landlords and tenants in many commercial property segments across the rest of Australia will mean they too will not be immune to downward swings in value and return. The last month has seen most major...

Working from home - revisited

21 September 2020 | Blare Sutton & Will Bian

Little did we realise twelve months ago how relevant our previous article was going to be when we wrote about the increased risk associated with remote working. With over 4.3 million people (32% of working Australians) working from home since the start of the COVID-19 pandemic lockdown, we are witnessing a working-from-home revolution. In our previous article we discussed that the blurred boundaries between...

Early warning signs for agribusiness operators on the road...

17 September 2020 | Jamie Harris, Sean Wiles, Jason Pietzner & Mark Holland

This year has been dubbed as the start of a “multi-year rebuild” for Australia’s agribusiness sector as they recover from the prolonged drought, recent bushfires, major floods and now COVID-19. Uncertainty about the impacts of the COVID-19 pandemic has initially taken the gloss off farmer confidence, however positive seasonal conditions and solid commodity prices in most sectors have fueled farmers’ optimism as the effects...

Early warning signs for hospitality and tourism operators on...

13 August 2020 | Hugh Monaghan, Anthony Connelly & Mark Holland

Hospitality and tourism relies on human relationships and social interaction. Changing consumer demands coupled with a reduction in Government stimulus and the added cost of social distancing will have “bottom line” ramifications for many businesses in the lead up to Christmas. Driven by Government financial stimulus, many hospitality and tourism businesses have resumed operations, changed how they deliver goods and/or have shifted focus towards domestic...

Dealing with “early warning signs” on the road to...

6 August 2020 | Mark Holland & Olivia Houston

The road to economic recovery will invite new challenges and change for businesses operating in some of Australia’s key industries. But what if the road never travelled becomes bumpier than first thought? Are you aware of and prepared to address the “early warning signs” of distress to ensure your business remains viable? As restrictions begin to ease and parts of Australia move towards economic recovery...

Payroll underpayment issues – where to start?

24 June 2020 | Janine Thompson

There is no end in sight to the flow of payroll underpayment claims hitting the headlines and the desk of FairWork Australia. The problems are indiscriminate, arising in organisations within a broad range of sectors, size and structures. Why are so many underpayments coming to light? Part of the reason may be self-perpetuating. The public disclosure of underpayments by high profile entities has prompted others to...

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