|
FWO to focus on the agricultural industry |
Borders are open and the return of migrant working holiday visa travelers to Australia may be on the horizon. These workers fill workforce gaps for industries such as agriculture, hospitality and contract cleaning. However, these... |
Advisory | Insight | 2 June 2023 |
|
Retail – Year in Review 2022 |
COVID-related “protective forces”, coupled with high household savings levels, pent-up “lockdown demand” and solid labour market conditions provided strong momentum for retail sales in 2022, despite a backdrop of rapidly... |
Advisory | Report | 26 May 2023 |
|
Consumer sentiment plunges following rate hike and Federal Budget... |
Consumer sentiment decreased by 7.9% in May 2023 to 79.0 according to the Westpac-Melbourne Institute Index of Consumer Sentiment. The survey was undertaken in the week during the release of the Federal Budget and the week after... |
Advisory | Insight | 26 May 2023 |
|
Wage underpayments & Payroll | Unlocking the power of... |
For many organisations in Australia, wages and staff entitlements is the biggest costs to doing business; yet many organisations struggle to maintain data that accurately captures the fundamental figures that underpins labour... |
Advisory | Insight | 24 May 2023 |
|
Common errors that lead to wage underpayments |
The issue of wage underpayments will remain prevalent to corporate Australia in 2023. Following the completion of over 4,000 investigations in 2022, the Fair Work Ombudsman (FWO) has indicated that their focus will only increase,... |
Advisory | Insight | 12 May 2023 |
|
Wage remediation | Prevention is better than a cure |
In 2022, the Fair Work Ombudsman performed over 4,000 investigations in Australia. These reviews resulted in the recovery of approximately $532 million of unpaid wages and entitlements, of which $279 million related to 267,000... |
Advisory | Insight | 2 May 2023 |
|
Money laundering loopholes: Tranche 2 legislation inbound |
Australia's anti-money laundering and counter terrorism financing (AML/CTF) laws have been in place for almost two decades, and in that time, it has gone through various iterations aimed at keeping pace with the ever-changing... |
Advisory | Insight | 28 April 2023 |
|
|
Consumer relief as RBA takes a break from rate... |
Consumer sentiment increased by 9.4% in April 2023 to 85.8, following two consecutive months of sub-80 reads, according to the Westpac-Melbourne Institute Index of Consumer Sentiment. The survey was undertaken in the week the RBA... |
Advisory | Insight | 17 April 2023 |
|
McGrathNicol wins ‘Most Innovative Accounting & Consulting Services Firm’ |
We are pleased to announce McGrathNicol has won ‘Most Innovative Accounting & Consulting Services Firm’ at the 2023 Client Choice Awards. These awards are the most prestigious awards for professional service firms in... |
News | 31 March 2023 | |
|
|
Consumer confidence unchanged at deeply pessimistic level |
Consumer sentiment remained deeply pessimistic in March 2023, with the Westpac-Melbourne Institute Index of Consumer Sentiment Index reporting levels of 78.5 for the second consecutive month. The survey was undertaken in the week... |
Advisory | Insight | 30 March 2023 |
|
Changes to the Data Protection Act | What it... |
The Data Protection Act is undergoing several changes. With an increasing number of data breaches, concerns are growing from the Australian public about the safety of their personal information. The government's proposed changes... |
Advisory Cyber & Information Risk Technology & Cyber | Insight | 17 March 2023 |
|
|
Cost of living pressures cause sentiment to plummet |
Consumer sentiment fell by 6.9% in February 2022 to 78.5, according to the Westpac-Melbourne Institute Index of Consumer Sentiment. The survey was undertaken in the week the RBA delivered a ninth consecutive interest rate rise to... |
Advisory | Insight | 16 February 2023 |
|
|
Consumer sentiment improves, but remains “deeply pessimistic” |
Consumer sentiment grew for a second consecutive month, increasing by 5.0% to 84.3 in January 2023, but remains deeply in pessimistic territory. The survey was undertaken in the second week of the new year, following the first... |
Advisory | Insight | 23 January 2023 |
|
Future of Aged Care: What to expect for aged... |
Managing operations and financial profitability for residential and in-home aged care providers continues to be challenging. Although the recent legislative changes are intended to uplift performance by addressing issues... |
Advisory | Insight | 17 January 2023 |
|
Future of Aged Care: What are the implications for... |
Since the May 2021 Federal Budget announcement scrapping bed licences for aged care from 1 July 2024, there has been much debate about whether bed licences recognised as intangible assets with indefinite useful lives in the... |
Advisory | Insight | 10 January 2023 |
|
Transactions Newsletter – December 2022 |
As 2022 comes to a close we wish our clients a safe and happy holiday break. Our Transactions, Strategy and Business Improvement team has enjoyed a successful year of solid deal flow, growth and change. As we look to 2023 we... |
Advisory Transactions | Insight | 21 December 2022 |
|
Future of Aged Care: Cash flow management is more... |
Cash continues to be a real challenge for aged care providers as it is often tied up in assets, such as nursing homes or customer credit accounts. Cash flow will continue to require very close management as we outline below.... |
Advisory Cash & Working Capital Strategy & Business Improvement | Insight | 20 December 2022 |
|
Congratulations to our newly promoted professionals |
McGrathNicol believes the expertise of our people is the strength of our firm. We would like to congratulate the following professionals on their promotion, effective 1 January 2023. Senior Manager Samantha Wulff, Melbourne Tom... |
News | 16 December 2022 | |
|
Future of Aged Care: Positive changes through Key Personnel... |
The introduction of the ‘Key Personnel’ skills assessment from 1 December 2022 is a positive change to improve safety and culture within the aged care sector. Culture is a difficult thing for any organisation to change, but... |
Advisory Governance, Risk & Compliance Strategy & Business Improvement | Insight | 15 December 2022 |
|
|
Consumer confidence nudges upwards but remains deeply pessimistic |
Consumer sentiment increased by 3.0% to 80.3 in December 2022. Despite this month’s increase, the Index remains in deeply pessimistic territory and at a low comparable with levels recorded during the COVID-19 pandemic and the... |
Advisory | Insight | 14 December 2022 |
|
Management teams looking to build resilience as supply side... |
The Performance of Construction Index (PCI) fell to 43.3 in October 2022 – the fifth consecutive month below 50, indicating that the industry remains in contraction. On the positive side, supply side constraints are easing,... |
Advisory Cash & Working Capital Strategy & Business Improvement | Insight | 22 November 2022 |
|
Ransomware on the rise |
Australian businesses are willing to pay double the cyber ransom in 2022, at a faster rate In its second year, McGrathNicol Advisory in conjunction with YouGov, surveyed over 500 Australian business owners, partners, directors... |
Advisory Cyber & Information Risk Technology & Cyber | Insight | 14 November 2022 |
|
|
Consumer sentiment continues downwards spiral |
Consumer sentiment recorded a steep fall of 6.9% to 78.0 in November 2022. Consumer sentiment has now fallen 34% since the post-COVID high point in April 2021 (118.8) and 26% since November 2021. The index now remains only... |
Advisory | Insight | 10 November 2022 |
|
Bug Bounties: What’s the pay off? |
Bug bounties can be a cost effective way of identifying code defects and remediating vulnerabilities in an application or website. These programs work by tasking testers, with unknown and unvalidated certifications, to identify... |
Advisory Cyber & Information Risk Financial Crime Exchange Forensic Technology & Cyber | Insight | 28 October 2022 |
|
|
Lower than expected rate rise tempers consumer pessimism |
Consumer sentiment fell by 0.9% to 83.7 in October 2022, hovering at near recent and historic lows, as households continue to grapple with higher costs of living and ongoing rising rates. The most recent ABS retail sales in... |
Advisory | Insight | 14 October 2022 |
|
|
Consumer confidence stops falling but interest rate and inflationary... |
Amidst ongoing cash rate rises and persistent inflationary pressures impacting the cost of living, consumer sentiment increased 3.9% in September 2022 to 84.4. This improvement represents the first increase in consumer sentiment... |
Advisory | Insight | 19 September 2022 |
|
Risk and working capital management key to navigating any... |
The Performance on Construction Index (PCI) fell below 50 in June and July 2022, indicating the industry is in contraction. Following two years of high demand in the construction sector, interest rates and increasing concerns on... |
Advisory Cash & Working Capital Governance, Risk & Compliance | Insight | 16 August 2022 |
|
3 reasons no and low alcohol drinks are here... |
3 reasons no and low alcohol drinks are here to stay ‘Small beer’ has taken various forms since the Middle Ages. It was first commercialised during the US Prohibition in 1919, when idle breweries sought to produce a legal... |
Transactions | Insight | 12 August 2022 |
|
|
Inflation and cash rate forecasts push sentiment down for... |
Consumer sentiment fell by 3.0% to 81.2 in August 2022, falling for the ninth consecutive month since the most recent peak in November 2021 (105.3). This continual decline in sentiment is driven by ongoing inflation pressures and... |
Advisory | Insight | 11 August 2022 |
|
Identity & Access Management: Steps to improve your security... |
Identity and Access Management (IAM) are the policies, procedures and technologies that enable an organisation to manage their digital identities. Digital identities are considered to be an integral component of an... |
Advisory Forensic Technology & Cyber | Insight | 3 August 2022 |
|
|
Surging inflation and interest rates increase pressures on retailers |
Consumer sentiment declined by 3.0% to 83.8 in July 2022, having fallen every month in the 2022 calendar year to date. The continued decline was driven by persistent and growing concerns around inflation and interest rates, and... |
Advisory | Insight | 26 July 2022 |
|
5 good practices for a successful cybersecurity tool purchase |
Procuring and onboarding a new cybersecurity tool can be complex, extending beyond the deployment of the new technologies. Without clear policy and supporting processes, you may adversely impact your security posture and increase... |
Advisory Forensic Technology & Cyber | Insight | 20 July 2022 |
|
McGrathNicol welcomes five Partners |
McGrathNicol is delighted to announce the promotion of five new partners. Sam Boarder, Sara Deady, Sam McCombe and Deb Stokoe have been promoted to the partnership in the Advisory business. Rosemary Winser has also been... |
Insight News | 12 July 2022 | |
|
Director Penalty Notices | ATO enforcement activity has recommenced |
The ATO almost completely deferred debt collection action for two years due to COVID-19. Now, as economic activity returns to the “new normal”, it has sharply recommenced enforcement activity for those taxpayers that have not... |
Restructuring | News | 24 June 2022 |
|
Congratulations to our newly promoted professionals |
McGrathNicol believes the expertise of our people is the strength of our firm. We would like to congratulate the following professionals on their promotion, effective 1 July 2022. Director Mark Wheatley, Brisbane Rob Brown,... |
Advisory Restructuring | News | 24 June 2022 |
|
|
Consumers rattled by cash rate increase and rampant inflation |
Consumer sentiment declined for a seventh consecutive month, falling a further 4.5% to 86.4 in June 2022, as rate hikes and inflationary pressures continued to increase cost of living pressures on consumers. The most recently... |
Advisory | Insight | 17 June 2022 |
|
ISO 27001 – 93 ways to improve your business... |
Increasing regulatory scrutiny and the rise of highly publicised cyber-attacks have forced cybersecurity to the top of the agenda for executives and boards. Once viewed as just an IT problem, it is now clear that a business-wide... |
Advisory Technology & Cyber | Insight | 1 June 2022 |
|
Stable by name, turbulent by nature |
In an unparalleled cryptocurrency collapse, the fall of the Terra ecosystem in May 2022 has resulted in over USD$35 billion dollars disappearing from the digital economy. Although a stablecoin by name, Terra USD has seen to be... |
Advisory | Insight | 25 May 2022 |
|
|
Directors’ duties amidst a recommencement of ATO enforcement action |
Time is running out for many directors who recently received ATO letters warning of possible Director Penalty Notices (DPNs) for failure to meet tax liabilities accumulated through the pandemic. On 13 May 2022, the ATO announced... |
Restructuring | News | 16 May 2022 |
|
Good people are still doing bad things |
The rise of financial crime and corruption Global events over the last two years have significantly impacted individuals, organisations and the way we live. During the pandemic, many individuals suffered with financial stress and... |
Advisory Financial Crime Exchange | Insight | 13 May 2022 |
|
|
Consumer sentiment plummets amidst inflation and rate rises |
Consumer sentiment experienced a steep decline of 5.6% to 90.4 in May 2022, as inflation and rate rises weighed heavily on consumers. The most recent ABS retail sales data is for March 2022 and showed a seasonally adjusted... |
Advisory | Insight | 13 May 2022 |
|
|
Consumer confidence falls to 20-month low |
Consumer sentiment continued its decline in April, decreasing by 0.9%, as consumers remain concerned about the cost of living, including anticipated increases in the official cash and mortgage rates (now a reality). The most... |
Advisory | Insight | 6 May 2022 |
|
In Retail (New Zealand) – 2021 Edition |
SNAPSHOT Despite COVID, 2021 was a good year for the majority of retailers, with core retail growth of 4.3% and GDP growth of 5.6% on 2020. All geographic regions grew versus 2019 (pre-pandemic), except Rest of South Island (down... |
Advisory | Insight | 5 May 2022 |
|
The risk in your receivables |
Should your business be paying more attention to what is lurking in your accounts receivable balances? Or perhaps, what isn’t? Annette Roberts was working as a travel agent in country Victoria when she stole $670,000 from... |
Advisory | Insight | 28 April 2022 |
|
The Best Defence is a Good Offence – Cyber... |
The Australian Cyber Security Centre (ACSC) recently issued a priority alert, encouraging Australian organisations to urgently adopt an enhanced cyber security posture. Conflict in the Ukraine and instability in the region have... |
Advisory Technology & Cyber | Insight | 7 April 2022 |
|
|
Inflation, floods and the invasion of the Ukraine weigh... |
Consumer sentiment fell by 4.2% in March 2022, as concerns about the rising cost of living and the prospect of increased inflation rates were compounded by the recent flooding event on the Eastern Seaboard and Russia’s invasion... |
Advisory | Insight | 11 March 2022 |
|
Power of perception: Australia’s moral compass has changed direction |
Each year Transparency International releases their Corruption Perceptions Index (CPI), an anticipated and influential report scoring countries and territories based on how corrupt their public sector is perceived to be. In the... |
Advisory Forensic Technology & Cyber | Insight | 10 March 2022 |
|
|
Retail conditions softening meaning a more challenging period ahead... |
Consumer sentiment fell by 1.3% in February 2022, as a positive economic outlook and confidence in the labour market was dampened by concerns about the rising cost of living and the prospect of increased inflation rates. Both... |
Advisory | Insight | 11 February 2022 |
|
IN RETAIL (NEW ZEALAND): 2022 Holiday trading edition |
2021/22 Holiday retail trading overview In this edition of In Retail (New Zealand), we compare in-store activity over the holiday trading period with results from last year and pre-COVID. Unless otherwise stated, we are looking... |
Advisory | Insight | 27 January 2022 |
|
Leveraging technology to conduct investigations remotely |
Lockdowns and travel restrictions may have limited the ability of investigation teams to conduct ‘traditional’ investigative tasks, however these circumstances have also created a need to rethink and explore how... |
Advisory Technology & Cyber | Insight | 21 December 2021 |
|
Congratulations to our newly promoted professionals |
McGrathNicol would like to congratulate the following employees on their well-deserved promotion, effective 1 January 2022. Senior Manager Angus Boyd, Brisbane Bronwenn Durand, Brisbane Chris Djamaludin, Brisbane Hassan Nasir,... |
Advisory Restructuring | News | 17 December 2021 |
|
In Retail (New Zealand) |
In-store consumer trends since re-opening and rent relief update In this edition of In Retail (New Zealand), we looked at what has happened in-store since the re-opening of retail on 10 November 2021, when Auckland progressed to... |
Advisory | Insight | 3 December 2021 |
|
Applying Standards to Control Fraud and Corruption |
Professor Paul Andon from the University of NSW School of Accounting, Auditing and Taxation recently joined McGrathNicol’s Forensic Practice Consultant Dean Newlan to discuss how organisations can leverage Australian standards... |
Advisory Financial Crime Exchange Technology & Cyber | Insight | 2 December 2021 |
|
Emerging Financial Crime Threats |
At the Emerging Financial Crime Threats webinar, Michael Holland, Head of Financial Crime Intelligence at Commonwealth Bank, Matt Mueller, CIO at Iluka Resources and Non-Executive Director at Curtin University and NSW Police Det.... |
Advisory Technology & Cyber | Insight | 30 November 2021 |
|
What a Proactive Compliance Program looks like |
A hallmark of a well-designed and effective compliance program is proactivity. This means an organisation is actively taking steps to comply with legislative requirements and industry regulation by anticipating and rectifying... |
Advisory Technology & Cyber | Insight | 25 November 2021 |
|
When good people do bad things: the psychology of... |
There has always been a fascination about what drives someone to commit white-collar crime, and the motives behind law-abiding citizens making the conscious decision to steal from their place of business to methodically,... |
Advisory Financial Crime Exchange Technology & Cyber | Insight | 22 November 2021 |
|
Tracing and Recovering the Proceeds of Crime |
Many victims of financial crime are not aware of the various civil options open to them in pursuing recovery of the proceeds of financial crime. As part of International Fraud Awareness Week 2021, Vicki Bell of the Victorian Bar... |
Advisory Technology & Cyber | Insight | 18 November 2021 |
|
Corporate Streamlining – A savvy and effective way to... |
Cleaning up a corporate structure is often put in the “too-hard” basket by business owners and CFOs. McGrathNicol estimates that, even for the simplest group, it can cost between $2,500 and $8,000 per entity per year in... |
Restructuring | Insight | 16 November 2021 |
|
|
Consumer sentiment positive but a comparatively subdued reaction to... |
Consumer sentiment increased by 0.6% in November 2021 following a slight reduction in October. Whilst in positive territory, the subdued reaction to the end of restrictions across all states and territories may be a concern for... |
Advisory | Insight | 12 November 2021 |
|
Bust to Boom – The rise and swift fall... |
The recent iron ore price crash continues to play out across Australia, particularly in the rich fields of North-West WA. Between April 2020 and May 2021, the iron ore price rose relatively steadily from circa $US80/t to a peak... |
Advisory | Insight | 25 October 2021 |
|
How the pandemic has affected construction disputes |
With lockdown restrictions easing in Australia and around the world, the impact of COVID-19 on the construction industry will start to unfold. As a sector, construction has not suffered prolonged shutdowns by local and... |
Advisory Forensic | Insight | 20 October 2021 |
|
|
Consumer sentiment has fallen since April but remains positive... |
Consumer sentiment decreased by 1.5% in October 2021. The index has fallen by 12% since the high point in April 2021 but remains positive overall with consumers looking towards the staged re-opening in New South Wales and... |
Advisory | Insight | 14 October 2021 |
|
|
Consumer confidence rebounds as vaccination rates climb |
Consumer sentiment increased by 2.0% in September 2021, with confidence bouncing back from last month’s 4.4% decline. Retail sales continued their decline in July with a 2.7% fall, while online retail sales remain strong with... |
Insight | 16 September 2021 | |
|
Multi-factor authentication: Not always the silver bullet |
Multi-factor authentication (MFA) is one of the best cybersecurity controls all organisations can implement to prevent breaches, regardless of size, industry and budget. As veteran incident responders, we have reflected upon many... |
Advisory Technology & Cyber | Insight | 13 September 2021 |
|
Construction boom slows even before the impact of lockdowns |
The August PCI index shows that what had been a tapering of the construction boom at the June quarter has now turned into a sharp decline, driven primarily by the lockdowns in New South Wales and Victoria which pushed the PCI to... |
Advisory Strategy & Business Improvement | Insight | 9 September 2021 |
|
Health and Professional Services most at risk of prolific... |
The Office of the Australian Information Commissioner (OAIC) has recently released its Notifiable Data Breaches report from January through June 2021 (available here). The OAIC received 446 Notifiable Data Breach (NDB) reports... |
Advisory Technology & Cyber | Insight | 7 September 2021 |
|
Underpayments: Where to from here? |
We have continued to see news reports of wage underpayments during 2021. From recent cases involving retailers, financial institutions and aged care providers, there is little sign the trend is coming to an end. Employers now... |
Advisory Forensic | Insight | 3 September 2021 |
|
How to spot the Underpayment Early Warning Signs |
A number of recent, high-profile cases of employers underpaying staff in Australia have demonstrated the significant financial, reputational and compliance risks associated with underpayments. Employers need to be addressing red... |
Advisory Forensic | Insight | 2 September 2021 |
|
How SMEs can leverage the Essential Eight to raise... |
An uptick in devastating cyber attacks in recent times has resulted in many organisations realising that it is no longer a question of ‘if’ but a matter of ‘when’ they too may be targeted. Without an in-house security... |
Insight | 1 September 2021 | |
|
Forecast Review: 2021 Risk – Part Two |
Increased board malpractice and cyber threats to escalate roles of Chief Risk Officers and Chief Security Officers We predicted that there would be many instances of fraud and financial crime uncovered in 2021. The same can be... |
Advisory Forensic Governance, Risk & Compliance Technology & Cyber | Insight | 30 August 2021 |
|
|
Transactions Newsletter – August 2021 |
As Australia continues to grapple with the impacts of COVID-19, the availability of cheap capital, strong business confidence and the rapid adoption of technology has driven M&A activity to all time highs and we continue to... |
Transactions Advisory | Insight | 26 August 2021 |
|
Mixed headwinds: What does the rest of 2021 look... |
Despite navigating the COVID-driven global downturn well in 2020 and early 2021, the second half of the year will likely see Australian businesses face a range of challenges. Consumer-facing businesses will be hoping vaccinations... |
Restructuring | Insight | 26 August 2021 |
|
Buyer’s Remorse – Employee liabilities that can emerge post... |
It has been a tumultuous 18 months and COVID has had an unequal impact on many sectors with some coming to a near standstill, while others boomed. There are certain sectors that are “cashed up”, where liquidity is strong,... |
Insight | 25 August 2021 | |
|
Forecast Review: 2021 Insolvency |
Insolvencies and fraud likely to rise if stressful conditions continue The Delta variant has returned the majority of the nation to restrictions and a mixture of snap or prolonged lockdowns. This has impacted business and... |
Restructuring Insolvency | Insight | 24 August 2021 |
|
Forecast Review: 2021 Performance |
Making the most of the market Australian business performance has been resilient throughout 2021. Strategy, working capital and cash flow management have remained high on the agenda for many businesses. This has helped to create... |
Advisory Strategy & Business Improvement Transactions | Insight | 19 August 2021 |
|
Forecast Review: 2021 Resilience & Risk |
After what may be considered a strong start to the calendar year, further disruption coupled with geopolitical and cyber incidents threaten stability, presenting continued challenges for management and board members. Here, we... |
Advisory Forensic Governance, Risk & Compliance Technology & Cyber | Insight | 17 August 2021 |
|
|
Consumer confidence falls, but is there more to come? |
Consumer sentiment fell by 4.4% in August 2021 to reach a twelve-month low. Retail sales fell by 1.8% in June 2021 however remain historically high, while online retail sales continued their resurgence with an increase of 7.6% in... |
Insight | 16 August 2021 | |
|
Collective accountability is the most effective way to give... |
Awareness is growing amongst industry, government and business leaders of the critical need to uplift cyber resiliency in Australia. It’s hard to miss the ever-present reports of the latest victims of ransomware, significant... |
Advisory Technology & Cyber | Insight | 28 July 2021 |
|
Sydney’s construction shutdown: complications and preparing for the restart |
Following a visit to a WestConnex site by three COVID infected delivery drivers, the NSW Premier shocked the $60 billion construction industry when she took the unprecedented action to shut down the industry across Greater... |
Insight | 22 July 2021 | |
|
Underpayment update: FWO is taking action |
The Fair Work Ombudsman (FWO) is taking court action against Woolworths, questioning its method of remediation of certain salaried employees. Woolworths self-reported an underpayment of employees in 2019 vis a vis the General... |
Forensic Governance, Risk & Compliance | Insight | 22 July 2021 |
|
McGrathNicol Welcomes Four New Partners |
McGrathNicol is pleased to announce the admission of Selina Gerner, Mark Holland, Trent Whitbourn and Melinda Hogan to the partnership. Chairman, Jason Preston, said, “Selina, Mark, Trent and Melinda are highly regarded... |
21 July 2021 | ||
|
Retail Market Conditions |
National consumer sentiment rebounded by 1.5% to 108.8 in July 2021 according to the Westpac survey. The survey was undertaken during the first week of the current lockdown in Greater Sydney however prior to the announcement of... |
Insight | 16 July 2021 | |
|
Cybersecurity risks in agribusiness – the new high tech... |
Many Australasian agribusinesses have experienced some form of financial loss from illicit or illegal activities. The recent breach of information systems at JBS Foods, Australia’s and the world’s largest processor of beef... |
Technology & Cyber | Insight | 29 June 2021 |
|
New Zealand Working Capital Report 2020 |
In 2020 the average working capital cycle of the sampled companies decreased from 63.5 to 57.7 days, driven primarily by delaying payments to suppliers (DPO), perhaps due to initial COVID-19 cash flow pressures. The improvement... |
Report | 29 June 2021 | |
|
Standards Australia releases AS 8001-2021 Fraud and Corruption Control |
AS 8001 Fraud and Corruption Control has provided benchmark fraud and corruption control guidance for Australian corporations since 2003. The third edition of the standard was released on 11 June 2021 as AS 8001-2021. The... |
Technology & Cyber Cyber & Information Risk Financial Crime Exchange | Insight | 25 June 2021 |
|
Congratulations to our newly promoted professionals |
McGrathNicol believes the expertise of our people is the strength of our firm. We would like to congratulate the following professionals on their promotion, effective 1 July 2021. Director Aldo Gutierrez, Brisbane Emma Fletcher,... |
Advisory Restructuring | News | 25 June 2021 |
|
The growing menace of corruption in global business |
McGrathNicol’s Financial Crime Exchange (FCX) recently hosted a webinar highlighting the growing menace of corruption in global business. The webinar followed release of the Transparency International Corruption Perceptions... |
Advisory COVID-19 Financial Crime Exchange Forensic | Insight | 11 June 2021 |
|
|
Retail Market Conditions |
Consumer sentiment continued its recent retreat with a decrease of 5.2% to 107.2 in June 2021 according to the Westpac survey. The survey was undertaken during the first week of the current lockdown in Victoria which appears to... |
Insight | 11 June 2021 | |
|
Boutique distilleries: mixing up the spirit industry |
Spirit manufacturing industry revenue growth was 3% per annum from FY15 to FY19, reaching $2.1 billion in FY19. Spirit imports grew 6% per annum over the same period, to $877 million in FY19. Accordingly, imports represent over a... |
Advisory Transactions | Insight | 9 June 2021 |
|
Payment Times Reporting Scheme |
Time to prepare - non compliance could be costly What is it? New legislation that became law in October 2020, which imposes new reporting obligations on large businesses (>$100 million turnover) in respect of their payment... |
Advisory Cash & Working Capital Forensic Strategy & Business Improvement | Insight | 4 June 2021 |
|
|
Retail Market Conditions |
According to the Westpac survey, consumer sentiment retreated by 4.8% to 113.1 in May 2021 from an almost eleven year high in April. The Budget was released in the middle of the survey week and Westpac noted consistent sentiment... |
Insight | 21 May 2021 | |
|
Federal Budget: Doubling down on old ideas won’t help... |
A key feature of last year’s budget was the $27 billion investment allowance which brings forward tax deductions for capital or equipment purchases instead of following traditional tax depreciation schedules over the useful... |
Restructuring | News | 12 May 2021 |
|
In Retail (New Zealand) – 2020 Edition |
SNAPSHOT Calendar year 2020 finished better than expected, with real retail spend in line with 2019 despite a year of COVID-19 uncertainty and lockdowns, and ahead of the broader economy, which fell 3.0%. The loss of... |
Advisory Restructuring | Insight | 29 April 2021 |
|
McGrathNicol Advisory supports Allegro Funds to acquire Toll Global... |
McGrathNicol Advisory supported Allegro Funds in both Australia and New Zealand to acquire the Toll Global Express business - the express parcel, freight delivery, domestic forwarding and Bass Straight shipping arm of Toll Group... |
Advisory Transactions | Insight | 23 April 2021 |
|
I shall comply |
Realigning risk management frameworks with the revised AS 8001 Fraud and Corruption Control standard Revisions to Australian Standard 8001:2008 Fraud and Corruption Control are close to being finalised with re-release of the... |
Advisory Forensic Governance, Risk & Compliance | Insight | 21 April 2021 |
|
|
Retail Market Conditions |
Consumer sentiment increased by 6.2% to 118.8 in April 2021. It should be noted that the survey was taken in the week following Easter, so after the lifting of the ‘snap’ three day lockdown in Greater Brisbane. It was... |
Insight | 15 April 2021 | |
|
ASIC’s new Immunity Policy and its impact on financial... |
On 24 February 2021, the Australian Securities and Investment Commission (ASIC) released its policy for immunity from civil penalty or criminal proceedings for a contravention of a provision in Part 7.10 of the Corporations... |
Governance, Risk & Compliance Advisory | Insight | 13 April 2021 |
|
The future of insolvencies: tsunami, torrent or trickle? |
CreditorWatch in conjunction with McGrathNicol, has launched a new whitepaper, The future of insolvencies: tsunami, torrent or trickle? that explores insolvency trends, options for businesses working through debts and potential... |
Restructuring Insolvency | Media | 6 April 2021 |
|
|
Retail Market Conditions |
Consumer sentiment rose by 2.6% to 111.8 in March 2021 as nationwide COVID-19 suppression and vaccination commencement along with a range of positive economic outlook data buoyed consumer attitudes. The result brings the index... |
Insight | 15 March 2021 | |
|
Transparency International report highlights COVID-19 linked corruption |
Transparency International (TI) recently released its Corruption Perceptions Index 2020 (CPI Index) which ranks 180 countries/territories according to perceptions of public sector corruption in each country. The report described... |
Advisory COVID-19 Financial Crime Exchange Forensic | Insight | 2 March 2021 |
|
IN RETAIL (NEW ZEALAND): Holiday trading edition |
2020 was a difficult year for all with COVID-19 bringing extreme uncertainty to businesses, particularly in the retail, tourism and hospitality sectors. Despite international restrictions still firmly in place, New Zealand... |
Advisory Restructuring | Report | 23 February 2021 |
|
|
Retail Market Conditions |
Consumer sentiment improved by 1.9% in February 2021 following recent positive media on COVID-19 vaccinations and the apparent successful suppression of the latest outbreak in New South Wales paving the way for domestic borders... |
Insight | 15 February 2021 | |
|
Craft beer: recovering from the COVID-19 hangover |
Mainstream vs craft: what’s the difference? The line between mainstream and craft beer blurred some time ago. Starting with the sale of Mountain Goat to Asahi in 2015, the major players (Lion and Asahi/CUB) have continued to... |
COVID-19 Advisory Transactions | Insight | 8 February 2021 |
|
|
Retail Market Conditions |
Consumer sentiment experienced a decline of 4.5% to 107 in January 2021 following the most recent COVID-19 outbreak in New South Wales and resultant domestic border closures. The decline in consumer sentiment comes after four... |
Insight | 1 February 2021 | |
|
International Fraud Awareness Week – Watch the webinars on... |
We recently held a series of webinars to mark International Fraud Awareness Week 2020. The webinars included discussions on a broad range of current and emerging financial crime trends and provided insights into how governments... |
Financial Crime Exchange | News | 22 December 2020 |
|
Why small business owners and Restructuring Practitioners must move... |
This article was first published in Dynamic Business on 18 December 2020. Last week, as part of the Australian Government’s ongoing response to the pandemic-induced economic crisis, the Senate passed reforms to insolvency... |
Restructuring | News | 18 December 2020 |
|
Congratulations to our newly promoted team members |
McGrathNicol recognises that the expertise of our people is the strength of our firm. We would like to congratulate the following team members of their promotions, effective 1 January 2021. Senior Manager Ciaran Mannion, Sydney... |
News | 18 December 2020 | |
|
|
Retail Market Conditions |
Consumer sentiment experienced its fourth consecutive month of growth in December with an increase of 4.1%, capping off an incredible calendar year. The index sits at 112, its highest level since October 2010 (10 years) and is... |
Insight | 10 December 2020 | |
|
Tertiary education: crisis and opportunity |
The COVID-19 pandemic is disrupting and changing the tertiary education sector, with international students barred from most countries, but with the potential for increasing domestic demand and an opportunity to pivot to distance... |
Restructuring | Insight | 9 December 2020 |
|
Australian winemakers must get nimble |
China’s impost of crippling import tariffs, ranging from approximately 107 to 212% on all Australian wine, is expected to cause the high-margin, fast growing Chinese market to dry up overnight and indefinitely. Having navigated... |
COVID-19 Restructuring | Insight | 4 December 2020 |
|
McGrathNicol Advisory advises MedAdvisor Limited (ASX:MDR) on its c.USD34.5... |
McGrathNicol Advisory advised MedAdvisor Limited (ASX:MDR) on its c.USD34.5 million acquisition of Adheris Health from Syneos Health, Inc (NASDAQ: SYNH) which completed on 17 November 2020. The final purchase price is subject to... |
Advisory Transactions | News | 4 December 2020 |
|
Is the clock TikTok-ing on bricks and mortar retailers? |
Online retail has been a growing part of the retail landscape in recent years, with increasing acceptance across a range of categories and the shifting of sales dollars from traditional bricks and mortar channels, primarily... |
Advisory COVID-19 Restructuring | Insight | 3 December 2020 |
|
Business interruption insurance test case rules in favour of... |
There has been uncertainty around the eligibility of pandemic-related claims on business interruption cover. Insurers have argued that pandemics are excluded from business interruption insurance policies because of the... |
Advisory Forensic | Insight | 24 November 2020 |
|
Personal liability clock approaching midnight for unprepared company directors |
Company directors are currently scheduled to lose the benefit of temporary protection from personal liability for insolvent trading from midnight on 31st December 2020. The directors of companies still yet to deal with pandemic... |
Restructuring | Insight | 19 November 2020 |
|
Key elements of the Australian Cyber Security Strategy 2020 |
Darren Kane, Chief Security Officer at NBN Co, recently joined McGrathNicol Advisory Technology & Cyber Partners Blare Sutton and Shane Bell for an FCX webinar to review the Federal Government’s Australian Cyber Security... |
Advisory Financial Crime Exchange Forensic Technology & Cyber | Insight | 19 November 2020 |
|
Australia dragging its heels on public sector corruption in... |
Corruption costs the global economy trillions of dollars a year and has the potential to damage the principles of democracy, justice and the economy. Australia is a relatively clean country, especially when compared to countries... |
Advisory Financial Crime Exchange Forensic | Insight | 18 November 2020 |
|
Cyber-attack and corruption the standout financial crimes of 2020 |
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... |
Advisory COVID-19 Financial Crime Exchange Forensic Technology & Cyber | Insight | 16 November 2020 |
|
|
Retail Market Conditions |
The consumer sentiment index continued its recent run of strong growth with a 2.5% increase to 107.7 in November 2020. The index has grown by 35.5% since August and is now at its highest level since November 2013. Unsurprisingly,... |
Insight | 16 November 2020 | |
|
How will the Australian federal budget impact the agricultural... |
Australia’s agribusiness sector generates an annual total revenue of $280.5 billion, making it one of the largest economic sectors in the country. The Federal Government released the 2020-2021 budget with a number of measures... |
Insight | 5 November 2020 | |
|
Reading between the shopping lines of COVID times |
Jason Ireland speaks to Retail World Magazine about what the October consumer data shows and explains how it is important for retailers to adapt to perform and thrive in these new operating conditions. Read article... |
Advisory Strategy & Business Improvement | Media | 4 November 2020 |
|
Navigating the Construction & Infrastructure industry with caution |
The Federal Budget contained some positives for the infrastructure and construction industry with over $10 billion pledged to roads, rail and “shovel ready” projects. This is welcome news for the industry which will form a... |
Advisory Strategy & Business Improvement | Insight | 28 October 2020 |
|
|
Retail Market Conditions |
Consumer sentiment jumped by 11.9% to 105.0 in October 2020, representing the first time in positive territory since June 2019 and a level of confidence not reached since July 2018. Sentiment has risen across each of the states,... |
Insight | 19 October 2020 | |
|
Understanding value during COVID-19 |
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... |
Advisory COVID-19 Restructuring | Insight | 9 October 2020 |
|
85 days to go… Payment Times Reporting Scheme |
The new Payment Times Reporting Scheme legislation is on the horizon and will require businesses with turnover >$100 million to report biannually on their payment terms and practices for their small business suppliers... |
Advisory Strategy & Business Improvement | Insight | 8 October 2020 |
|
Will “every sector of our economy, every corner of... |
On Tuesday, 6 October 2020, the Commonwealth Treasurer, Josh Frydenberg delivered the 2020-2021 Federal Budget. The budget includes unprecedented spending that will see the country’s gross debt approach $1 trillion and the... |
Insight | 7 October 2020 | |
|
Rescuing and recapitalising a business: triangulating your offer |
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... |
Advisory COVID-19 Restructuring | Insight | 30 September 2020 |
|
Early warning signs for commercial property on the road... |
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... |
Advisory COVID-19 Restructuring | Insight | 24 September 2020 |
|
How retailers should respond to latest consumer sentiment |
Jason Ireland talks to RetailBiz about the recent consumer sentiment index and how retailers must continue to adapt and think strategically at a micro level, while attempting to implement a number of approaches. Read article... |
Media | 23 September 2020 | |
|
Working from home – revisited |
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... |
Advisory COVID-19 Technology & Cyber | Insight | 21 September 2020 |
|
Early warning signs for agribusiness operators on the road... |
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... |
Advisory COVID-19 Restructuring | Insight | 17 September 2020 |
|
Early warning signs for mining operators on the road... |
Miners have successfully protected their employees, communities and business ventures from the global downturn and many are operating undeterred whilst benefiting from buoyant commodity prices for certain minerals. However,... |
Advisory Restructuring | Insight | 10 September 2020 |
|
|
Retail Market Conditions |
Consumer confidence has rebounded significantly by 18% seemingly boosted by Victoria experiencing a progressive decline in COVID-19 cases. The index still remains in pessimistic territory at 93.8 in September 2020 and it is now... |
Insight | 10 September 2020 | |
|
Preventing procurement fraud |
A recent ACFE survey looking at the effects of COVID-19 found that 68% of respondents had experienced or observed an increase of fraud and 93% expected a further increase over the next 12 months 1. The survey highlighted the top... |
Advisory Forensic | Insight | 8 September 2020 |
|
Early warning signs for retail operators on the road... |
The Retail industry was under pressure prior to COVID-19 and the pandemic has served to act as an additional challenge. The pandemic has however accelerated development in some sections of the industry (including the shift to... |
Advisory Restructuring | Insight | 3 September 2020 |
|
Confronting bias in artificial intelligence |
Whether it’s what show to watch next on your favourite streaming service or search results in Google, millions of processes a day are automated by computers. These computers use algorithms (sets of instructions or models used... |
Advisory Forensic Technology & Cyber | Insight | 2 September 2020 |
|
Health is Wealth – The Power of Health App... |
Data extracted from mobile devices is becoming increasingly prevalent in digital investigations and legal proceedings. Recent advancements in mobile forensics have enabled further insights to be gained from Health App data, which... |
Advisory Forensic Technology & Cyber | Insight | 28 August 2020 |
|
Early warning signs for construction operators on the road... |
Construction activity is currently at a five year low. Although many state governments have committed to stimulus and accelerated state funded projects, variable demand, supply chain disruption, changing work practices and... |
Advisory Restructuring | Insight | 27 August 2020 |
|
Cybersecurity for small businesses – 11 areas to consider |
Approximately one in five Australian small businesses report that they have previously been the target of a cyber-attack. Additionally, 43% of all cybercrimes are targeted at small businesses. As a small business, have you... |
Advisory Technology & Cyber | Insight | 26 August 2020 |
|
Options for directors in times of business uncertainty |
Boards and management teams are navigating unprecedented economic and social uncertainty. They are grappling with business hibernation and fluctuating timeframes for reopening, a deep recession, the risk of subsequent COVID-19... |
Restructuring | Insight | 25 August 2020 |
|
Possible clarity for business interruption insurance |
Traditionally, business interruption insurance cover is triggered by ‘damage’ to the business’ premises. There has been uncertainty in Australia and other jurisdictions as to whether business interruption insurance policies... |
Advisory Forensic | Insight | 24 August 2020 |
|
Challenges and opportunities for Incorporated Associations |
Queensland is set to introduce a number of new legislative changes that will impact the myriad of pubs, clubs, cooperatives and associations operating as Incorporated Associations. With many hospitality and community clubs... |
Advisory Governance, Risk & Compliance | Insight | 21 August 2020 |
|
Stage 4 lockdown – a Melbourne perspective |
Whilst the rest of Australia is opening up, Victoria is locked down, with Metropolitan Melbourne two weeks into stage 4 lockdown and regional Victoria now returned to stage 3 restrictions. As non-essential industries are placed... |
Advisory Restructuring | Insight | 20 August 2020 |
|
Early warning signs for aged care operators on the... |
COVID-19 has drawn further attention to frailties in Australia’s aged care system, including the poor financial performance of a growing number of aged care providers and challenges brought about by regulatory reform, an... |
Advisory Restructuring | Insight | 20 August 2020 |
|
Rescuing and recapitalising a business: due diligence – validating... |
The re-launch of Virgin Australia through a voluntary administration process (‘Virgin 2.0’) is the latest high profile Australian turnaround story to have attracted significant interest from potential bidders around the... |
Advisory Restructuring | Insight | 19 August 2020 |
|
Payment Times Reporting Bill 2020 – What you need... |
A new Bill is currently being passed through Parliament known as the Payment Times Reporting Bill 2020. The Bill, which is intended to come into effect from 1 January 2021, imposes requirements on large businesses to publish... |
Advisory Strategy & Business Improvement | Insight | 18 August 2020 |
|
Retail Market Conditions |
Consumer confidence fell 9.5% to 79.5 in August 2020. The fall is the largest since the original national “lockdown”, with the index at its lowest point since the heavy restrictions were introduced in April. The largest fall... |
Insight | 14 August 2020 | |
|
Early warning signs for hospitality and tourism operators on... |
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”... |
Advisory COVID-19 Restructuring | Insight | 13 August 2020 |
|
Valuation in times of a crisis |
How the valuation date influences whether the impacts of COVID-19 are accounted for or not? A valuation is the estimated amount for which an asset should exchange on the valuation date. When forming a valuation opinion, a valuer... |
Advisory Forensic | Insight | 12 August 2020 |
|
Dealing with “early warning signs” on the road to... |
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... |
COVID-19 | Insight | 6 August 2020 |
|
Rescuing and recapitalising a business: an introduction |
Virgin Australia, Harris Scarfe, PAS Group and McWilliam’s Wines are just a few of the high profile distressed businesses that appeared on the market in FY20. With the gradual tapering of COVID-19 government support programs... |
Advisory Restructuring Transactions | Insight | 29 July 2020 |
|
|
Retail Market Conditions |
Consumer confidence fell by 6.1% to 87.9 in July 2020, reversing the improvement reported in June. The index has not been above 100 for thirteen months. Importantly, the survey was taken after the recent increase in restrictions... |
Insight | 16 July 2020 | |
|
The dispute landscape – where to from here? |
As we move to a new normal in the post COVID-19 environment, we anticipate a number of unique changes and challenges in the dispute landscape, including: An increased uptake of alternative forms of dispute resolution as... |
Advisory Forensic | Insight | 7 July 2020 |
|
Congratulations to our newly promoted team members |
McGrathNicol recognises that the expertise of our people is the strength of our firm. We would like to congratulate the following team members on their promotions, effective 1 July 2020. Director Chris Hodge, Melbourne Shane... |
Advisory Restructuring | News | 26 June 2020 |
|
Payroll underpayment issues – where to start? |
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... |
Advisory COVID-19 Forensic | Insight | 24 June 2020 |
|
Forecasting in uncertain times: modelling lessons from COVID-19 |
We have been exposed to multiple COVID-19 estimates, including the number of contagious, fatalities, rates and other metrics. These forecasts consistently change and we have seen significant differences in the projected numbers.... |
Advisory COVID-19 Forensic | Insight | 16 June 2020 |
|
|
Retail Market Conditions |
Consumer confidence increased by 6.4% to 93.7 in June 2020, effectively recovering to pre-COVID levels. The improvement corresponds to the easing of government restrictions. Whilst a material improvement, the index remained in... |
Insight | 15 June 2020 | |
|
IN RETAIL (NEW ZEALAND): COVID-19 special edition #4 |
Retailers received some much-needed relief following New Zealand’s downgrade of its COVID-19 response status from Alert Level 3 to Level 2 from 14 May 2020, allowing stores to re-open, with encouraging footfall and sales data.... |
COVID-19 Restructuring | Report | 9 June 2020 |
|
Five considerations when conducting a counterparty risk review |
The current operating environment is unprecedented and many companies will be subject to increased financial and operational pressures. These pressures may lead to counterparties experiencing distress ranging from delayed... |
COVID-19 Restructuring | Insight | 3 June 2020 |
|
New AS 8001 Fraud and Corruption Control standard in... |
Australian Standard AS 8001 Fraud and Corruption Control has been accepted as the benchmark for best practice in fraud and corruption control in Australia since 2003. For many Australian organisations across all sectors, AS 8001... |
Financial Crime Exchange Forensic | Insight | 2 June 2020 |
|
The value of your contractual dispute just changed –... |
Globally, many businesses are currently suffering negative financial impacts in the face of the COVID-19 pandemic. As economies have been gradually wound down to slow the rate of infection, demand for certain goods and services... |
Advisory COVID-19 Forensic | Insight | 1 June 2020 |
|
“The toughest year of our lives…” Managing through a... |
“A crisis like nothing we have seen before”, “economic tsunami” “the Coronavirus recession is here” “a hundred years on, will there be another Great Depression?” The magnitude of the COVID-19 crisis reminds us... |
Advisory COVID-19 Forensic Governance, Risk & Compliance | Insight | 28 May 2020 |
|
Engaging with stakeholders in uncertain times |
Managing through the challenges that COVID-19 is creating for business will require a significant amount of support from key business stakeholders. We are already seeing Government stimulus and a flexible approach by lenders to... |
Advisory COVID-19 Strategy & Business Improvement | Insight | 25 May 2020 |
|
Looking Beyond: Optimise your capital structure and execute your... |
This is the final part of our series focused on strategy. So far we have covered why you need a new strategy, some of the external factors that will shape your thinking, practical considerations in remobilising your business, how... |
Advisory COVID-19 | Insight | 22 May 2020 |
|
|
Retail Market Conditions |
Consumer confidence increased 16.5% to 88.1 in May 2020. While this represented the largest monthly gain in the index’s history on the back of some easing of restrictions around COVID-19, the improvement only partly reversed... |
Insight | 18 May 2020 | |
|
Looking Beyond: Building resilience and assessing M&A opportunities |
This is the third part of a series focussed on strategy. The first and second parts covered why you need a new strategy, some of the external factors that will shape your thinking and practical considerations in remobilising your... |
Advisory COVID-19 | Insight | 18 May 2020 |
|
We learn to draw before we learn to write |
Data is available in different shapes and forms, comes from diverse sources and the velocity at which it is produced surpasses our imagination. A plethora of techniques and tools to extract knowledge from data continue to shift... |
Advisory Forensic Technology & Cyber | Insight | 12 May 2020 |
|
IN RETAIL (NEW ZEALAND): COVID-19 special edition 3 |
The effect of past shocks on the retail sector and what this may tell us about a post COVID-19 environment In this special COVID-19 release, we look at what happened to retail sectors during past shocks. Although this time is... |
Advisory COVID-19 Restructuring | Report | 12 May 2020 |
|
Looking beyond: External factors and remobilisation |
This is the second part of a series focussed on strategy. The first covered why you need a new strategy and now the focus shifts to some of the external factors that will shape your thinking and considerations in remobilising... |
Advisory COVID-19 | Insight | 11 May 2020 |
|
High Court ruling has governance implications for Australian corporations |
A long running court battle between ASIC and Michael King, former CEO and executive director of Queensland based listed company MFS Ltd, has ended with implications for the governance of Australian corporations. MFS Ltd operated... |
Advisory Governance, Risk & Compliance | Insight | 8 May 2020 |
|
IN RETAIL: COVID-19 special edition #2 |
The Twilight – what retailers and stakeholders can be doing now This is an unprecedented time in terms of the level of uncertainty for the retail industry. The disruption and unique challenges stemming from COVID-19 have made... |
Report | 7 May 2020 | |
|
ausbiztv Interview – Jason Ireland |
What are the next stages of recovery for the retail sector? McGrathNicol Partner, Jason Ireland speaks to ausbiztv about what “get back to normal” will look like for the retail sector and how conversations between landlords... |
COVID-19 | Media | 7 May 2020 |
|
Looking beyond: How to prepare your business for post... |
Now is the time to start thinking about what the impacts of COVID-19 mean for your business in the medium to longer term. The majority of business owners have been in crisis management mode, focused on stabilising their business... |
COVID-19 | Insight | 6 May 2020 |
|
COVIDSafe Launch – success or failure? |
The Federal Government has released a key part of its strategy to combat COVID-19 through the Google and Apple App stores. Over two million people keen to do their bit for society downloaded and installed the app in just 24... |
COVID-19 | Insight | 4 May 2020 |
|
Maintaining competitive advantage for hospitality operators during the COVID-19... |
The hospitality sector is experiencing significant impacts from COVID-19, including material changes to operations from Government regulations, which can lead to financial hardship. It is a stressful time for business owners... |
Advisory COVID-19 | Insight | 29 April 2020 |
|
Everyone loves a bargain |
The flow on consequences of COVID-19 to Australian businesses and recent sluggish economic growth may result in a greater volume of distressed acquisition opportunities in the coming months. Injecting fresh capital where there... |
Advisory COVID-19 Restructuring Transactions | Insight | 28 April 2020 |
|
Directors’ duties in a crisis |
When a crisis hits, issues arise on multiple fronts in what quickly becomes an unrecognisable business landscape. It can be difficult for directors to sort through the issues, prioritise and make informed decisions quickly. In... |
COVID-19 Restructuring | Insight | 27 April 2020 |
|
The Australian: Contact tracing app is not Big Brother |
This article was first published in The Australian on 22 April 2020. The Federal government’s plans to introduce an app based on the Singapore government-developed app TraceTogether to help prevent the spread of COVID-19 has... |
Advisory COVID-19 Technology & Cyber | Media | 23 April 2020 |
|
Is your whistleblower program effective against COVID-19 risk? |
Working remotely has become the norm due to the disruptions caused by COVID-19. Organisations need to refocus their whistleblower policies in light of staff working from home en masse for the first time ever. Working from home... |
Advisory COVID-19 Financial Crime Exchange Forensic | Insight | 22 April 2020 |
|
COVID-19 and business interruption insurance: critical information required for... |
On 11 March 2020, the Insurance Council of Australia declared the COVID-19 outbreak to be an ‘insurance catastrophe,’ following its designation as a pandemic by the World Health Organisation. Many Australian businesses are... |
Advisory COVID-19 Forensic | Insight | 21 April 2020 |
|
Insolvent trading and COVID-19: considerations for Company Directors |
The duty of directors to not allow a company to trade whilst it is insolvent is a specific duty under section 588G of the Corporations Act 2001 (the Act). Allowing a company to incur a debt at a time when there are reasonable... |
COVID-19 Restructuring | Insight | 20 April 2020 |
|
Recommended Zoom Security Controls |
The popular videoconferencing service Zoom has recently come under scrutiny for security vulnerabilities being identified within their software such as ‘Zoombombing’ and dreaded ‘0-day’ vulnerabilities.... |
Advisory COVID-19 Technology & Cyber | Insight | 17 April 2020 |
|
|
Retail Market Conditions |
The growing impact of COVID-19 and the related social distancing requirements imposed by government has led to the greatest monthly decline in consumer confidence on record, which collapsed by 17.7% to 75.6 in April 2020. This... |
Insight | 17 April 2020 | |
|
Wear a “black hat” when assessing a bargain |
Whether driven by the recent economic impact of COVID-19, or resulting from the ordinary course of business, the release of profit warnings, missed earnings guidance or the release of results significantly below consensus... |
Advisory COVID-19 Restructuring Transactions | Insight | 16 April 2020 |
|
IN RETAIL (NEW ZEALAND): COVID-19 special edition #1 |
The COVID-19 crisis is undeniably changing the retail landscape in New Zealand and across the globe. While the crisis is ongoing and the full extent and length of any impact remains unknown, retailers, landlords and financiers... |
Advisory COVID-19 Restructuring | Report | 8 April 2020 |
|
IN RETAIL: COVID-19 special edition #1 |
The COVID-19 crisis is undeniably changing the retail landscape, not only in Australia but across the globe. While the crisis is ongoing and the extent and length of any impact remains unknown, both retailers and consumers (as... |
Advisory COVID-19 Restructuring | Report | 8 April 2020 |
|
Forecasting in an environment of uncertainty and rapid change |
Having a robust financial forecast is an important tool during a time of crisis, significant change or uncertainty. Management teams must be looking forward at what might play out over the coming weeks and determine the likely... |
Advisory COVID-19 Strategy & Business Improvement | Insight | 8 April 2020 |
|
From panic buying to mass store closures – looking... |
The retail environment is changing on a daily and even hourly basis as a result of COVID-19, with consumer responses to the pandemic being felt across the industry and impacting retailers in very different ways. The extremes... |
Advisory COVID-19 | Insight | 3 April 2020 |
|
Managing investigations remotely |
As business and the broader economy seeks to adapt to a changing world, it’s worthwhile considering how we can maintain a level of vigilance and appropriately respond to financial crime or unwanted events, when or if they... |
Advisory COVID-19 Forensic | Insight | 3 April 2020 |
|
Rational people do bad things in uncertain times |
Fights over toilet paper, security guards protecting supermarkets, rationing of basic goods and medicines due to panic buying – has the world gone crazy? In uncertain times, ’rational’ people can do irrational... |
Advisory COVID-19 Forensic | Insight | 30 March 2020 |
|
ABC News Interview – Keith Crawford |
Buying time and conserving cash is crucial in the current environment. McGrathNicol Restructuring Partner, Keith Crawford speaks to Australian Broadcasting Corporation (ABC) about the announcements made by the Australian... |
COVID-19 | Insight | 27 March 2020 |
|
Cyber-attacks through outsourced IT |
We are responding to a large number of urgent requests for clients who have been victims of cyber-attacks and the common fault can be attributed to trusted third party service providers. As we quickly change our working... |
Advisory COVID-19 Technology & Cyber | Insight | 26 March 2020 |
|
Seven step COVID-19 plan for businesses |
The COVID-19 outbreak is impacting businesses in many ways including reduced trade, temporary business closures, staffing issues and supply chain interruptions. It is therefore important that Boards and management teams are... |
Advisory COVID-19 Strategy & Business Improvement | Insight | 25 March 2020 |
|
Resource allocation requires constant attention |
All organisations need to continually assess how they allocate the resources used in the provision of goods and services. Ideally, organisations should invest their resources in those goods and services that provide the greatest... |
Advisory | Insight | 17 March 2020 |
|
|
Retail Market Conditions |
Consumer confidence has been materially impacted by concerns around the growing impact of COVID-19, with the index reducing 3.8% in March 2020 to a five year low (second lowest level since the GFC). This is on the back of an... |
Insight | 17 March 2020 | |
|
Six questions to ask yourself to improve your FY21... |
To maximise the value of your budget, the organisation’s management and finance team should ask themselves six key questions: Who are you budgeting for? Where are you starting from? What matters most to your organisation? Who... |
Advisory | Insight | 13 March 2020 |
|
Reverse Factoring – what is the deal? |
Supply chain finance is far from being a new form of working capital financing, however, the types of products currently being offered have evolved over time and recently, “Reverse Factoring” has been increasing in popularity... |
Advisory Strategy & Business Improvement | Insight | 10 March 2020 |
|
COVID-19: The case for a comprehensive risk assessment and... |
The ongoing spread of the Coronavirus (COVID-19) has created a myriad of unique challenges for corporate Australia. Most organisations (including state and federal governments) are currently focused on supply chain dependencies... |
Advisory COVID-19 Forensic Governance, Risk & Compliance Restructuring Strategy & Business Improvement Technology & Cyber Transactions | Insight | 6 March 2020 |
|
Coronavirus themed attacks are being used to socially engineer... |
In the past month there have been an increased level of coordinated and aggressive cyber-attacks targeting Australian businesses, individuals and Government agencies. These attacks have leveraged the news and hysteria around... |
COVID-19 Cyber & Information Risk Forensic | Insight | 5 March 2020 |
|
Forensic Forecast 2020 |
What will this new decade bring? What are the legacies of the last decade? We are now operating in a time of increased scrutiny and higher personal risk when organisations get it wrong. The stakes are high and the risks are real.... |
Advisory Forensic Governance, Risk & Compliance Technology & Cyber | Report | 4 March 2020 |
|
Coronavirus – the impact on Australia’s agricultural industry |
Markets across the globe have been impacted by the recent coronavirus outbreak and Australia, unfortunately, will not be immune. Adverse economic disruption in China, Australia’s biggest export partner, will be magnified given... |
Advisory Restructuring | Insight | 2 March 2020 |
|
Valuations for dispute resolution |
Business valuation skills are essential, but not sufficient, to fairly resolve many disputes where money is at stake. Often, business valuation skills are essential, because a proper determination of the financial outcome is:... |
Advisory Governance, Risk & Compliance | Insight | 24 February 2020 |
|
|
Retail Market Conditions |
While consumer confidence improved by 2.2% to 95.5 in February, the index remains in pessimistic territory for the sixth consecutive month, with natural disasters and the emergence of the recent global outbreak of coronavirus... |
Insight | 14 February 2020 | |
|
Investigating Ransomware Attacks |
With the resurgence and increase of ransomware attacks organisations should stop to consider how a cyber-incident could impact their business, as most recently highlighted by the cyber-attack on Toll Group. Having been on the... |
Advisory Technology & Cyber | Insight | 13 February 2020 |
|
Plan for the unexpected |
Unexpected events can hit your organisation at any time without warning. A crisis can negatively impact the entire organisation, its stakeholders and can cause long term reputational and financial damage. The outcome of a crisis... |
Advisory | Insight | 12 February 2020 |
|
|
Retail Market Conditions |
Consumer confidence slid a further 1.8% to 93.4 in January meaning it has now been in pessimistic territory for five consecutive months. Westpac reports this may partially be attributable to bushfires, but whether this has a... |
Insight | 30 January 2020 | |
|
Was Santa good to retailers? |
With the reported success of Black Friday and Boxing Day, we look at December sales based on real time data sources and what that means for retailers. December typically represents a significant proportion of a retailers annual... |
Advisory | Insight | 30 January 2020 |
|
Why are financial controls critical? |
When an organisation’s financial controls are not operating as originally intended, it can create an opportunity for fraud to occur. The impact on the organisation can often be financial and reputational whilst in some... |
Advisory Governance, Risk & Compliance | Insight | 15 January 2020 |
|
What does 2019 tell us about 2020? |
We expect consumers to remain conservative in 2020 continuing the low growth environment where retail sales growth tracks closer to GDP growth, with potential downside risks. Retail sales have outpaced GDP and wage growth in... |
Advisory | Insight | 19 December 2019 |
|
|
Retail Market Conditions |
Consumer confidence fell deeper into pessimistic territory in December with losses across all five composite indices, retreating from the level recorded in November and suggesting retailers will continue to face headwinds in the... |
Insight | 19 December 2019 | |
|
Congratulations to our newly promoted team members |
McGrathNicol recognises that the expertise of our people is the strength of our business. We would like to congratulate the following team members on their promotions, effective 1 January 2020. Director Linda Smith, Perth Senior... |
Advisory Restructuring | News | 18 December 2019 |
|
The rise of Expert Determination |
While most people would be familiar with mediation as a form of Alternative Dispute Resolution (ADR), increasingly we are seeing Expert Determination as a preferred solution. In an Expert Determination, the parties jointly... |
Insight | 12 December 2019 | |
|
Consulting expert roles on the rise |
In recent years the landscape of commercial disputes has become increasingly complex. That trend is set to continue as Australian businesses compete in a relatively sluggish economy hampered by factors such as, a recent property... |
Advisory Forensic | Insight | 3 December 2019 |
|
How to detect and disrupt inappropriate procurement activity |
For many years our work has reinforced the ongoing risks presented by procurement fraud. Organisations need to be vigilant against unscrupulous suppliers attempting to influence employees. This influence can be caused by... |
Advisory Financial Crime Exchange Forensic | Insight | 22 November 2019 |
|
Working Capital Report 2019 |
McGrathNicol Advisory profiled the working capital performance of a sample of 140 ASX listed companies across nine sectors, with a combined market capitalisation of $726 billion. The average working capital cycle shortened by 0.9... |
Insight | 21 November 2019 | |
|
Three considerations when dealing with matters requiring investigation |
I think all of us would like to be investigators at some time. The intrigue, challenge or simply wanting to uncover the facts fascinates us all. The reality is that it is a role that comes with considerable risk. Planning an... |
Advisory Financial Crime Exchange Forensic | Insight | 21 November 2019 |
|
Data key to early identification of fraud risks |
The quantity of data being created by companies and individuals is growing at an exponentially rapid rate and the signs are there that this trend will continue. Manual review of these significantly large volumes of transactional... |
Advisory Forensic Governance, Risk & Compliance | Insight | 20 November 2019 |
|
The more things change, the more they stay the... |
In 1849, French writer Jean-Baptiste Alphonse Karr wrote “plus ça change, plus c'est la même chose “ – the more things change, the more they stay the same… Filled with apprehension, in mid-2018, I returned from... |
Advisory Financial Crime Exchange Forensic | Insight | 18 November 2019 |
|
Royal Commission releases research on staffing levels in aged... |
Over half (57.6%) of Australian aged care residents are in homes in which the levels of staffing are, by international benchmarks, unacceptable. To raise the standard to an acceptable level staffing needs to be increased by 37.3%... |
Advisory Forensic Governance, Risk & Compliance | Insight | 14 November 2019 |
|
Australia’s aged care services – Royal Commission Interim Report |
“It is a sad and shocking system that diminishes Australia as a nation.” So the Royal Commission into Aged Care Quality and Safety concludes in its interim report issued on 31 October 2019. This statement and the report’s... |
Advisory Forensic Governance, Risk & Compliance | Insight | 13 November 2019 |
|
Retail is a growing target |
Cybercrime is big business and retail targets are sitting firmly in the crosshairs. A report published by cybersecurity firm Shape Security provided an insight into the current threat landscape of the retail industry with... |
Insight | 12 November 2019 | |
|
Compliance is good, building a whistleblower regime that... |
With the recent introduction of the whistleblower amendments to the Corporations Act 2001, many Australian companies are considering how best to comply with the new requirements. But is strict compliance with the amended... |
Advisory Forensic | Media | 6 November 2019 |
|
Corruption in our own backyard – why the spotlight... |
When conversations turn to corruption, it is often in the context of foreign jurisdictions and the risks confronting Australian companies and groups operating in these higher risk economies. Australia is a relatively clean... |
Insight | 20 October 2019 | |
|
Cyber Alert – myGov cyber attack |
A new cyber-attack is currently being sent via SMS message to many Australians. The attack starts with a text message from MyInfo and asks the user to click a link. If you click on the link you will be directed to a fake myGov... |
Insight | 18 October 2019 | |
|
|
Retail Market Conditions |
Consumer confidence fell 5.5% to 92.8 in October, its lowest level in more than three years. The index has now fallen by 11.1% since its recent peak in December 2018 and c.9.0% since June 2019, despite three interest rates cuts... |
Insight | 15 October 2019 | |
|
Step IT up: the dangers of over-reliance on... |
It is easy to assume that your outsourced IT provider has all of the bases covered to handle a cyber-attack, after all, they are the IT experts. While their IT expertise is likely value for money, if senior management and your IT... |
Advisory Technology & Cyber | Insight | 25 September 2019 |
|
Corporate streamlining – the low hanging fruit |
There is never a bad time for management teams to get the house in order and to look for easy ways to reduce costs. An often untapped area in this pursuit is the corporate structure. McGrathNicol Advisory estimates that, even for... |
Advisory Strategy & Business Improvement | Insight | 24 September 2019 |
|
Working from home: blurred boundaries increasing business risk |
Flexible work arrangements have become an ingrained part of the modern workplace, with the time of daily commutes increasing and employees wanting better work-life balance, the traditional nine-to-five routine has changed for... |
Advisory Technology & Cyber | Insight | 20 September 2019 |
|
Phishing for information |
Over 60% of cybercrime is the result of human error. Approximately half of this accidental sharing of information is via “phishing” attacks - one of the top concerns listed by the FBI in its 2018 Internet Crime Report.... |
Advisory Technology & Cyber | Insight | 19 September 2019 |
|
Digital deadlocks and securing your ‘online home’ |
In the face of relentless hacks, scams and data breaches, the IT Security sector continues to encourage businesses to improve their cyber resilience to protect their bottom line and our private data. However, like many things in... |
Advisory Technology & Cyber | Insight | 18 September 2019 |
|
The risk is bigger than just me |
Most organisations leverage technology to allow them to remain digitally integrated with their customers, third party service providers and business partners. With the varying levels of maturity around information security across... |
Advisory Technology & Cyber | Insight | 18 September 2019 |
|
Consumer data regimes: and then there were three |
Individuals and organisations now have the right to efficiently and conveniently access specified data in relation to them held by businesses. The Consumer Data Right (CDR) requires data holders to give customers open access to... |
Advisory Technology & Cyber | Insight | 17 September 2019 |
|
Caring about the notifiable data breach: the human impact... |
With the Notifiable Data Breach (NDB) scheme under the Privacy Act 1998 in full force, the threat of financial and reputational impacts to organisations often overshadows the human element of the data breaches; in essence, we... |
Advisory Technology & Cyber | Insight | 17 September 2019 |
|
What does Incident Response have in common with driving... |
This may seem like an odd question, but hear me out. Having spent the first six years of my career after university driving warships, and the last 14 years of my career managing cyber and forensic incidents, I can tell you that... |
Advisory Technology & Cyber | Insight | 16 September 2019 |
|
Getting smart: Cybersecurity trends relating to AI, Machine Learning,... |
Two of the hottest topics within technology circles currently belong to Cybersecurity and Artificial Intelligence (AI). Inevitably, the cross-pollination between Cyber and AI has led to increasing interest around the art of the... |
Advisory Technology & Cyber | Insight | 16 September 2019 |
|
|
Retail Market Conditions |
Traditional retail sales contracted 0.1% in July, with cumulative sales growth for the calendar year to July now 1.4%. Online sales fell by 2% on the back of a 1.8% contraction in June. This is the first time online sales have... |
Insight | 12 September 2019 | |
|
Safe harbour in practice |
The two year anniversary of the safe harbour reforms arrives in September this year. Heralded as a major milestone in Australia’s restructuring and turnaround landscape, it’s clear the reforms are yet to reach their full... |
Restructuring | Media | 26 August 2019 |
|
Countering foreign interference in your organisation |
There has been much media coverage regarding the threat of foreign meddling in international democratic processes and, most recently, in attempts to undermine elections. Most strikingly, the report released by US Special Counsel... |
Advisory Forensic | Media | 20 August 2019 |
|
|
Retail Market Conditions |
Consumer confidence returned to a neutral 100.0 in August, which was a 3.6% improvement on July. Reduced pessimism around future economic conditions drove the increase, with improvements across all component indices. Traditional... |
Insight | 19 August 2019 | |
|
Clarifying whistleblower protections and the importance of a robust... |
McGrathNicol’s FCX recently hosted an expert panel comprising Corrs Partner Abby Gill, Griffith University’s Professor AJ Brown, ANZ Whistleblower Program Lead Clare Molan and Head of ASIC’s Office of the Whistleblower... |
Advisory Financial Crime Exchange Forensic | Insight | 9 August 2019 |
|
Cyber health and safety: Directors’ duties |
Almost every week a new cyber incident hits the media — personal information released on the dark web, Silicon Valley tech giants causing public outrage due to unethical collection or use of data, or accusations of state... |
Advisory Technology & Cyber | Media | 2 August 2019 |
|
NSW Modern Slavery Act hold-up should not impede organisations |
Many commercial organisations may have sensed some relief on 1 July 2019 when the reporting period as set out in the draft Modern Slavery Act 2018 (NSW) (the Act) did not commence as anticipated. This was because the legislation... |
Forensic | Insight | 24 July 2019 |
|
Managing supply risk – are you prepared for... |
Disruptions in a business supply chain are at times unavoidable. However, the true testament to a company’s ‘preparedness’ for a disruption is its ability to respond quickly. In today’s business... |
Governance, Risk & Compliance | Insight | 23 July 2019 |
|
Business seminar puts the new whistleblower regime under the... |
McGrathNicol’s FCX (Financial Crime Exchange) hosted a breakfast seminar at the RACV Club, Melbourne last week which put the recently amended whistleblower provisions of the Corporations Act under the microscope. An expert... |
Insight | 23 July 2019 | |
|
|
Retail Market Conditions |
Recent reductions in the cash rate and tax incentives failed to boost consumer confidence, with the index falling 4.2% in July to 96.5, the lowest reported level in two years on the back of concerns around the economy and... |
Insight | 18 July 2019 | |
|
|
McGrathNicol Advisory congratulates new Partner Chris Davey |
McGrathNicol Advisory is delighted to announce the promotion of Chris Davey to the partnership, effective 1 July 2019. His promotion brings the total number of Partners in the Transactions team to six and the total Partner count... |
Advisory Transactions | News | 5 July 2019 |
|
Congratulations to our newly promoted team members |
McGrathNicol recognises that the strength of our business is the expertise of our people. We would like to congratulate our recently promoted team members. Director Selina Gerner, Brisbane Deb Stokoe, Canberra Emma Boucher,... |
Advisory Restructuring | News | 28 June 2019 |
|
The costs of losing customer data |
The 2017 data breach of US credit reporting agency Equifax exposed the personal information, including names, birthdays and social security numbers, of nearly 150 million Americans. The information obtained could be used to steal... |
Advisory Forensic Technology & Cyber | Media | 11 June 2019 |
|
All roads lead to working capital |
When assessing the financial performance of a businesses, it is commonplace for management teams to only think about revenue and earnings. Analysts scrutinise and rate companies on their profitability, owners link dividends to... |
Advisory Strategy & Business Improvement | Media | 28 May 2019 |
|
Two common privacy questions our clients ask |
Privacy Awareness Week (PAW) is an annual event run by the Office of the Australian Information Commissioner (OAIC) that brings awareness and highlights the importance of protecting personal information. Running from 12 to 18... |
Advisory Forensic Technology & Cyber | Insight | 2 May 2019 |
|
Closing the deal |
You have planned, you are ready and you have gone to market. Offers are in and you have progressed the negotiations to a point where it is now time to ‘get on with it’ and execute. Closing a deal relies on maintaining... |
Advisory Transactions | Insight | 17 April 2019 |
|
How retailers can succeed in 2019 |
Following a period of constrained sales growth, we look at what retailers can do to succeed in 2019. Retail continues to be subject to disruption. It is also subject to the whims of changing consumer preferences and buying... |
Advisory Transactions | Insight | 11 April 2019 |
|
Focus on the customer, not just the sale |
It is easy to see why repeat customers are good for business – there is no acquisition cost, you have an opportunity to improve customer lifetime value and customers that become brand advocates can generate their own... |
Advisory | Insight | 11 April 2019 |
|
|
Retail Market Conditions |
Retail conditions remain difficult, with traditional retail sales growing only 0.1% and online retail sales suffering a contraction of 0.5% in January 2019 (the second consecutive contraction). Consumer confidence remains... |
Insight | 11 April 2019 | |
|
Pre-completion planning – timing is critical |
When contemplating an acquisition, divestment or a merger, it is critical to have a robust plan to give effect to its intent once a transaction completes. With respect to an acquisition, management/board members should have a... |
Advisory Transactions | Insight | 10 April 2019 |
|
Logic before emotions – the key to successful negotiation |
Negotiation is typically the stage at which parties are worn down, tired and fraught. The due diligence process can cause frustrations for both parties: one wondering why questions are so pedantic; the other wondering why... |
Advisory Transactions | Insight | 4 April 2019 |
|
RCR Group – Voluntary Administration |
... |
Creditors | 28 March 2019 | |
|
Assessing and refining the deal |
As the deal progresses, issues undoubtedly arise and it is important for each party to reconsider their positions, as well as to understand potential risks and how these risks, if determined material, can be mitigated. As our... |
Advisory Transactions | Insight | 27 March 2019 |
|
Transactions Newsletter |
Notwithstanding the RBA’s view that Australia’s economy remains in good shape and is poised to achieve its 3% GDP growth target, a combination of an uncertain election outcome, cooling of the property market, Chinese economy... |
Advisory Transactions | Transactions Newsletter | 27 March 2019 |
|
Driving success (and minimising risk) of transactions with focussed... |
Effective financial due diligence requires an in depth analysis of the assumptions and information supporting a transaction, a commercially-focussed assessment of whether they align with the strategic objectives of the... |
Advisory Transactions | Insight | 20 March 2019 |
|
Whistleblower legislation to become law on 1 July 2019 |
The Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 was passed by the House of Representatives on 20 February 2019 and received Royal Assent last week. On becoming law on 1 July 2019 it will introduce... |
Advisory Financial Crime Exchange Forensic | Insight | 18 March 2019 |
|
Assessing synergies – when is a combined business more... |
Synergy is the concept that combined businesses will be more valuable than the sum of the parts. Synergies are often touted as a key reason for undertaking transactions, with the success of the deal often determined by... |
Advisory Transactions | Insight | 14 March 2019 |
|
Assessing the strategy – why transact? |
A transaction needs to align to an organisation’s strategy and goals – there needs to be reason to do a deal, and it is important that the investment thesis for the transaction (it’s ‘business case’) is clearly... |
Insight | 7 March 2019 | |
|
Devotion to promotion? |
Coming to the end of our annual post-Christmas retail sale binge, it is interesting to take a closer look at Australian consumers’ and retailers relationship with promotions. With indications there is increasing ‘pull... |
Advisory Restructuring | Insight | 4 March 2019 |
|
|
Retail Market Conditions |
Both traditional and online retail sales fell in December 2018 (0.4% and 1.4% respectively) following strong November results, providing evidence of ongoing ‘pull forward’ of Christmas sales. Consumer sentiment improved 4.2%... |
Insight | 4 March 2019 | |
|
Don’t let a poorly planned transaction destroy value, or... |
Often, when things go wrong, the writing was on the wall before the deal was inked. The acquirer just didn’t see the warning signs, or chose not to see them. Here are a few examples: The working capital of a mining services... |
Advisory Transactions | Insight | 1 March 2019 |
|
New Zealand Working Capital Report 2018 |
In 2018 the average working capital cycle of the sampled companies increased to 57.5 days. A breakdown of DWC into its components shows the increase in DIO across five of the eight sampled sectors was compounded by a hastening of... |
Advisory Strategy & Business Improvement | Report | 27 February 2019 |
|
Forensic Forecast 2019 |
Welcome to the 2019 McGrathNicol Advisory Forensic Forecast. The year ahead presents a number of challenges for organisations, driven by significant legislative and regulatory change. With upcoming state and federal elections, a... |
Advisory Forensic Technology & Cyber | Insight | 21 February 2019 |
|
Impact on Agribusiness – Financial Services Royal Commission |
Of the recommendations made in the Royal Commission report into Misconduct in the Banking, Superannuation and Financial Services industry (FSRC), four pertain to the management of leveraged agricultural assets by the banking... |
Restructuring | Insight | 21 February 2019 |
|
We are Areyonga |
Teamwork. This was the message of our week spent in Areyonga and a theme prevalent throughout our time spent in the remote Indigenous town. Both in and out of the classroom, teamwork and leadership was prevalent every day. The... |
Advisory | Insight | 20 February 2019 |
|
New whistleblower legislation passes through the Australian Parliament today |
The long awaited Treasury Laws Amendment (Enhancing Whistleblower Protections) Act was passed by the House of Representatives today and will now become law. While there are some features of a world’s best practice whistleblower... |
Advisory Forensic Governance, Risk & Compliance | Insight | 19 February 2019 |
|
Misconduct in the Banking sector – it’s just not... |
The final report of the ‘Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry’ (universally known as the ‘Banking Royal Commission’) landed with a thud on Monday and will serve... |
Advisory Financial Crime Exchange Forensic Governance, Risk & Compliance | Insight | 8 February 2019 |
|
Key recommendations from the Final Report of the ALRC... |
On Friday 25 January 2019, the Final Report of the Australian Law Reform Commission (ALRC) inquiry into class action proceedings and third-party litigation funders was tabled in Federal Parliament. The 339 page report made a... |
Advisory Forensic | Insight | 31 January 2019 |
|
New modern slavery legislation already impacting corporate Australia |
The impacts of Australia’s new Modern Slavery legislation are already being felt across corporate Australia as organisations come to terms with the new legislation imposed from 1 January 2019. Those impacted by the new... |
Advisory | Insight | 21 January 2019 |
|
Managing cash and working capital critical for retailers over... |
An interesting article in the AFR, “Retailers counting on bumper weekend to meet Christmas forecasts”, about the trends in consumer spending leading up to Christmas. The article mentions that “retailers who have held off... |
Advisory Strategy & Business Improvement | Insight | 21 December 2018 |
|
Congratulations to our promoted team members |
McGrathNicol recognises that the expertise of our people is the strength of our business. We would like to congratulate the following team members on their promotions, effective 1 January 2019. Director Alison Wong, Sydney Senior... |
News | 18 December 2018 | |
|
Changes in the legal market via disruptive technologies |
The contribution of digital technologies to the Australian economy is forecast to be $139 billion by 2020, when it will equate to 7% of Australia’s GDP (DAE 2015a). This represents the size of Australia’s digital economy and... |
Advisory Technology & Cyber | Insight | 12 December 2018 |
|
Michael Woodford MBE: a story of loyalty and betrayal... |
In the lead up to International Fraud Awareness Week (12-16 November), McGrathNicol’s Financial Crime Exchange (FCX) hosted over 200 senior executives to hear from Michael Woodford, former Olympus CEO and whistleblower, who... |
Advisory Financial Crime Exchange Forensic | Insight | 11 December 2018 |
|
Cash tied up, suppliers squeezed: report |
McGrathNicol Advisory has launched its 2018 Working Capital Report, revealing working capital metrics worsened, on average, across a sample of 146 ASX-listed businesses, in nine sectors. The report shows working capital cycles... |
Advisory Strategy & Business Improvement | Media | 6 December 2018 |
|
The taste of modern slavery – part one |
Modern slavery legislation passed in parliament Australia’s anti-modern slavery legislation was passed in Federal Parliament last week. This important new legislation is a key step in confirming Australia’s commitment,... |
Advisory Forensic | Insight | 4 December 2018 |
|
New research points to more cash tied up in... |
McGrathNicol Advisory launched its 2018 Working Capital Report and revealed that working capital metrics worsened, on average, across a sample of 146 ASX-listed businesses, in nine sectors. But, for the construction and... |
Advisory Strategy & Business Improvement | Media | 29 November 2018 |
|
Working Capital Report 2018 |
Welcome to the 2018 McGrathNicol Advisory Working Capital Report. For the sixth consecutive year we profiled the working capital performance of a sample of ASX listed companies. This year we sampled 146 companies across nine... |
Advisory Strategy & Business Improvement | Report | 19 November 2018 |
|
FCX Panel Discussion | The Façade of Fraud |
To mark International Fraud Awareness Week, McGrathNicol’s financial crime collaboration hub FCX hosted a series of expert events in our Sydney, Melbourne, Brisbane and Canberra offices to discuss experiences and challenges for... |
Advisory Financial Crime Exchange Forensic | Insight | 19 November 2018 |
|
‘Safe Harbour’ one year on – 4 things we’ve... |
It’s been just over a year since the “Safe Harbour” reforms became available to directors. Heralded as a major milestone in Australia’s restructuring and turnaround landscape, it’s clear the reforms are yet to reach... |
Restructuring | Insight | 19 November 2018 |
|
ABC Learning – 10 years on |
November 2018 marks the tenth anniversary of the collapse of ABC Learning, which at the time was the largest publicly listed provider of childcare services globally. The collapse ABC Learning had centres in the UK, US and New... |
Restructuring | Insight | 7 November 2018 |
|
In Retail – FY18 in Review |
SNAPSHOT Despite improvements in consumer confidence, retail sales in FY18 grew at their slowest annual growth rate in the 10 years since the GFC (2.5% compared to the 10 year average of 3.9%). Online sales growth accelerated in... |
Advisory Strategy & Business Improvement | Report | 5 November 2018 |
|
In Retail (New Zealand) – FY18 in Review |
SNAPSHOT FY18 retail growth was strong at 3.8%, outpacing the broader economy for the fourth year in a row, with GDP growing 2.7%. However, the rate of growth has declined for the last four years, as has GDP. Retail growth in... |
Advisory | Report | 5 November 2018 |
|
The significance of human error in notifiable data breaches |
On 30 October 2018, the OAIC released its third Quarterly Statistics Report in relation to Notifiable Data Breaches (the report), which relates to the period 1 July 2018 – 30 September 2018. Despite an upward trend in awareness... |
Advisory Technology & Cyber | Insight | 31 October 2018 |
|
Indigenous Asset Management Structures |
There are currently approximately 200 registered native title bodies corporates (RNTBC) in Australia which hold the native title interests and land use agreements of Aboriginal and Torres Strait Islander peoples. RNTBCs are then... |
Advisory | Insight | 18 October 2018 |
|
Do you know your organisation’s counterparty risk? |
The failure of a business' critical supplier can have ramifications beyond a stop in supply. In many cases, counterparty failure leads to an internal crisis mode as managers, legal counsel and directors attempt to navigate... |
Advisory Governance, Risk & Compliance | Insight | 8 October 2018 |
|
Setting the governance standard: effective guidance from ISO and... |
When it comes to guidance on corporate governance, boards and executives of Australian corporations are well supplied. The Corporations Act 2001 sets out clear requirements as to how Australian corporations are to be governed,... |
Advisory Governance, Risk & Compliance | Media | 3 October 2018 |
|
Plan early to increase the odds of a successful... |
A major acquisition can boost optimism in a business and its potential for growth but this can be short lived, and shareholder value can ultimately be eroded. There are two common reasons for this; either the acquisition... |
Advisory Transactions | Insight | 12 September 2018 |
|
Transactions Newsletter |
It has been another strong quarter for M&A activity across a number of sectors in Australia. We continue to see activity in the technology, financial services/insurance, food and beverage, and ever-growing ‘wellness’ sectors.... |
Advisory Transactions | Insight | 4 September 2018 |
|
The issues of working on cross-border transactions and disputes |
Cross-border disputes can present a number of technical and practical challenges for appointed financial or accounting experts engaged to investigate issues, value assets or estimate losses for their clients. This article sets... |
Advisory Forensic | Media | 3 September 2018 |
|
Crack the Hack before the Hack Cracks you |
In the 1996 blockbuster movie, Independence Day, Jeff Goldblum, the “IT guy” was asked by military personnel how on earth he was able to infiltrate the alien’s spaceship shield. He answered something along the lines of,... |
Advisory Technology & Cyber | Insight | 31 August 2018 |
|
Where do you draw the line on your personal... |
The Australian Government’s “My Health Record” digitisation program has been in the spotlight recently with the automatic record creation opt-out deadline approaching in November, and a growing number of politicians,... |
Advisory Technology & Cyber | Insight | 30 August 2018 |
|
Ladies who launch |
As a female who has worked in the technology industry for the last 14 years, I am always inspired when I hear of amazing ladies that have made a name for themselves in our male dominated industry. A great example is Sheryl... |
Advisory Technology & Cyber | Insight | 29 August 2018 |
|
More devices, more problems – the IoT era |
As consumers move deeper into the world of the ‘Internet of Things’, are they creating security problems, or just opening themselves up to more? Ten years ago, our only security concern was protecting our home computers.... |
Advisory Technology & Cyber | Insight | 28 August 2018 |
|
I don’t know how that got on my phone? |
As a digital forensic analyst I have heard it all. “I didn’t visit that site, it must have been a virus” or “that photo wasn’t taken on my phone”. These once-viable explanations can be disproven in a matter of... |
Advisory Technology & Cyber | Insight | 27 August 2018 |
|
Australian universities move to strengthen defences against growing cyber... |
Intellectual property is one of the hot currencies cyber criminals trade in. So, naturally, research and data-rich universities, with increasing digital education models and often complex organisational structures, are becoming... |
Advisory Technology & Cyber | Insight | 6 August 2018 |
|
Foreign bribery amendments to the Criminal Code: Will your... |
There has been much media attention in recent years surrounding the issue of foreign bribery often involving ‘third world’ countries and ‘first world’ corporations. Reports typically allege money has been... |
Advisory Forensic | Insight | 2 August 2018 |
|
The “minimum wage increase dilemma” |
From 1 July 2018, a 3.5% increase to the minimum wage came into effect across Australia. For many businesses in the retail and hospitality space, labour expenses make up an average of 25% to 35% of sales revenue. McGrathNicol... |
Advisory Strategy & Business Improvement | Insight | 31 July 2018 |
|
Cyber Alert – Tax Time |
Watch out for the “tax man” The recent passing of 30 June, means it is that time again, in which we attempt to gather together our receipts and records in order to complete a tax return. For a lot of us this also means... |
Cyber Alert | 19 July 2018 | |
|
Ipswich City Council dissolved in unprecedented move |
This week, the Queensland Government announced it would introduce new laws designed specifically to allow it to dissolve Ipswich City Council (ICC) and put an administrator in place until 2020. The unprecedented move follows a... |
Advisory Governance, Risk & Compliance | Insight | 13 July 2018 |
|
Purchase Price Allocations Part 2 – Price less NTA... |
Contrary to common belief, consideration paid less net tangible assets acquired does not necessarily equate to goodwill. Goodwill is only one of the many intangible assets that may have been acquired as part of a transaction.... |
Transactions | Insight | 11 July 2018 |
|
Is your organisation prepared for changes in whistleblower legislation? |
Australia’s law in respect of managing reports of corporate wrongdoing from whistleblowers and the protection afforded to whistleblowers has come under heavy scrutiny since 2014. Recent media reports of public whistleblowing... |
Advisory Forensic | Insight | 10 July 2018 |
|
Third-party tech solutions becoming popular target for savvy cyber... |
The recent Ticketmaster, PageUp and PEXA data breaches have taught us one important lesson. Cyber criminals aren’t just petty thieves chasing the cash in the till; their targets are being carefully chosen for maximum impact and... |
Advisory Technology & Cyber | Insight | 4 July 2018 |
|
Purchase Price Allocations Part 1 – EPS Impact |
Typically, consideration of the potential intangible assets acquired as part of a transaction is only undertaken post completion as part of a formal purchase price allocation (PPA), which is required for financial reporting... |
Transactions | Insight | 4 July 2018 |
|
Congratulations to our promoted team members |
McGrathNicol recognises that the expertise of our people is the strength of our business. We would like to congratulate the following team members on their promotions, effective 1 July 2018. Director Emily Seeckts, Melbourne... |
Advisory Restructuring | News | 4 July 2018 |
|
McGrathNicol Restructuring congratulates new Partner Jonathan Henry |
McGrathNicol Restructuring is delighted to announce the admission of Jonathan Henry to the Partnership. Jonathan is a turnaround and restructuring specialist and has led many of Australia’s most high profile and complex... |
Restructuring | News | 1 July 2018 |
|
Cotton commodity price risks – haven’t we seen this... |
Volatility in the international cotton market has resulted in prices trading to new four-year highs ($652/bale 2018 season and $648/bale 2019 season). The recent surge in cotton prices is a result of global weather concerns,... |
Advisory | Insight | 13 June 2018 |
|
Making technology a member of your team |
Even in a well-resourced legal team, capacity can be an issue. A significant amount of time can be tied up in tasks that are time consuming and inefficient, stretching the available resources to the limit and away from issues for... |
Advisory Forensic | Media | 12 June 2018 |
|
Where to start if you experience a data breach? |
What is being called the largest data breach since the introduction of the Notifiable Data Breaches scheme has this week shone the spotlight again on risks associated with the security of private information and how this may... |
Advisory Technology & Cyber | Cyber Alert | 12 June 2018 |
|
The importance of probity across all phases of procurement |
A recent Northern Territory Auditor General’s report has highlighted the importance of maintaining probity across all stages of a procurement process after questions were raised regarding the Northern Territory Government’s... |
Governance, Risk & Compliance | Insight | 23 May 2018 |
|
People – biggest threat or greatest opportunity? |
The reality is, if you manage or have access to personal and sensitive data, you have the potential to play a role in an information risk event and an annual ‘tick and flick’ eLearning module preaching compliance obligations... |
Advisory Technology & Cyber | Insight | 17 May 2018 |
|
NDB scheme data highlights the importance of information risk... |
Have you ever accidentally sent an email containing sensitive information to the wrong person? It is easy enough to do with the stroke of a single key and immediately results in that sinking feeling in the pit of your stomach.... |
Advisory Technology & Cyber | Insight | 14 May 2018 |
|
Strong quarter for M&A activity |
It has been a strong quarter for M&A activity, particularly in the mid-market and we have seen a growth in activity driven by a combination of corporates with strong balance sheets, new private equity funds and a benign... |
Transactions | Transactions Newsletter | 1 May 2018 |
|
Cambridge Analytica – the leaky façade of personal data... |
As the world digests the content of Mark Zuckerberg’s testimony over two days of grilling by the US Senate and the US Congress, many are wondering, what is social media, why do we have our data out in the world and how is... |
Advisory Technology & Cyber | Insight | 17 April 2018 |
|
Safe Harbour reforms – ‘Hope’ is not a strategy |
The ‘Safe Harbour’ reforms were introduced into the Corporations Act in late 2017 and provide directors with protection from personal liability for debts incurred whilst they undertake a course of action that is reasonably... |
Restructuring | Insight | 10 April 2018 |
|
A week in Areyonga |
Inspiring, strong and resilient. These are just some of the many qualities displayed by the children of Areyonga, NT. Our week spent in the remote Indigenous community, three hours’ drive from Alice Springs, was not only an... |
News | 30 March 2018 | |
|
Banking Royal Commission highlights cultural issues within Financial Services |
The Banking Royal Commission commenced public hearings in earnest on 13 March 2018 in what the Commissioner, The Hon. Justice Kenneth Hayne has referred to as the Round 1 hearings focusing on “consumer lending practices within... |
Advisory Financial Crime Exchange Forensic | Insight | 28 March 2018 |
|
Out-of-the-box financial analysis key to capturing losses in infrastructure... |
The increasing sophistication and prevalence of infrastructure and construction disputes in Australia in coming years will put the quality of financial analysis and evidence provided under the spotlight. Many of these disputes... |
Advisory Forensic | Media | 7 March 2018 |
|
Australia slips further in anti-corruption ratings |
International corruption fighting NGO, Transparency International (TI), released its 2017 Corruption Perceptions Index (CPI) on 27 February 2018. The report revealed some worrying trends for Australian business in the context... |
Advisory Financial Crime Exchange Forensic | Insight | 6 March 2018 |
|
Forensic Forecast 2018 |
Tighter regulation, increased regulatory scrutiny, significant media attention and expectations for greater transparency are balancing the growth ambitions of Government and the business sector. Ultimately, we are seeing the... |
Advisory Financial Crime Exchange Forensic Technology & Cyber | Report | 28 February 2018 |
|
The NDB Scheme is here, so what next? |
The Notifiable Data Breaches (NDB) Scheme comes into force on 22 February. Organisations who have obligations under the Privacy Act 1988 (Privacy Act) must notify individuals if they are likely to be at risk of serious harm due... |
Advisory Technology & Cyber | Insight | 19 February 2018 |
|
The future of blockchain – smart contracts and digital... |
The Bitcoin blockchain is revolutionary in its ability to allow two individuals to transact digitally without a trusted third party. But the scope of blockchain technology extends much further than digital currency. A 19 year old... |
Advisory Technology & Cyber | Cyber Alert | 19 February 2018 |
|
The new “middle men” in retail |
Despite a trend towards direct sourcing and vertical integration to improve margins by cutting out the middle man in the retail supply chain, new classes of middle men are emerging. These new mediators come in a number of... |
Advisory Strategy & Business Improvement | Insight | 13 February 2018 |
|
Inventory – An ongoing battle for major retailers |
Inventory remains the major, controllable balance sheet item for retailers with average Days Inventory Outstanding (DIO) of 110.5 days in 2017 as reported in McGrathNicol’s Working Capital Report. Retailers that are able to... |
Advisory Strategy & Business Improvement | Insight | 13 February 2018 |
|
Products have feelings too |
In an increasingly crowded and competitive retail and hospitality industry, quality and practical benefit of a product or service alone is no longer enough. Operators able to sell emotional value to customers and entice them to... |
Advisory Strategy & Business Improvement | Insight | 13 February 2018 |
|
Understanding Blockchain in 5 minutes |
Bitcoin’s wildly volatile price swings have dominated recent headlines, but few really understand the inner-workings of cryptocurrency and the blockchain. The first part of the Bitcoin blockchain is the ‘ledger’. This... |
Advisory Technology & Cyber | Cyber Alert | 13 February 2018 |
|
Blockchain 101, Bitcoin, and a history of investment bubbles... |
Market bubbles Bitcoin’s wildly volatile price swings have dominated recent headlines, and the meteoric rises in price of both Bitcoin and other cryptocurrencies have led many to declare it as nothing more than a speculative... |
Advisory Technology & Cyber | Cyber Alert | 9 February 2018 |
|
Transactions – Year in Review |
As 2017 comes to an end, we wanted to take this opportunity to update you on our growing team, the transactions we have been involved in and highlight the key themes we see for 2018. Partnership announcement - congratulations... |
Transactions | Transactions Newsletter | 15 December 2017 |
|
McGrathNicol congratulates new Partners Hugh Monaghan and Michael Dunnett |
Leading independent advisory firm McGrathNicol is delighted to announce the admission of Hugh Monaghan and Michael Dunnett to the partnership. Hugh specialises in providing financial due diligence and advisory services to clients... |
Advisory Governance, Risk & Compliance Transactions | News | 14 December 2017 |
|
Whistleblower compensation is sorely needed |
I was a teenager working at Walton’s department store when, in 1986, one of Walton’s senior managers discovered that the store’s new owners, the Bond Corporation, had embarked on a creative method of recognising revenue. As... |
Advisory Financial Crime Exchange Forensic | Media | 13 December 2017 |
|
Understanding the risks and implications of fraudulent underpayment of... |
A growing number of high profile large Australian companies have been on the receiving end of adverse media attention alleging the deliberate underpayment of employee entitlements. The fallout from these allegations has resulted... |
Advisory Financial Crime Exchange Forensic | Media | 11 December 2017 |
|
What are my rights as a creditor? |
The recent insolvency law changes greatly increase the rights and powers of creditors to receive information about and intervene in the course of external administrations if they are dissatisfied with the incumbent’s conduct.... |
Restructuring | Insight | 8 December 2017 |
|
What is hiding beneath top line sales? |
Are top line sales a good proxy for assessing strategy success? What do they tell us and what do they hide? The “noise” There is a tendency to look to top line sales to determine the success or otherwise of tactical and... |
Advisory Strategy & Business Improvement | Insight | 6 December 2017 |
|
What is in store for retailers this Christmas? |
Plenty of articles have been written about the long-waited (now here) opening of Amazon. Below is a summary of the most recently released market statistics. Amazon represents a seismic shift in our market so watching the data is... |
Advisory Strategy & Business Improvement | Insight | 6 December 2017 |
|
New Zealand Working Capital Report 2017 |
Welcome to the 2017 McGrathNicol New Zealand Working Capital Report. This report profiles the working capital performance of a sample of 140 New Zealand companies across the Building Products, Construction & Engineering, Food... |
Advisory Strategy & Business Improvement | Report | 5 December 2017 |
|
Why Australia’s strengthening whistleblower protections are good for business |
This year has marked a significant shift in Australia’s approach to the protection of whistleblowers who report corporate wrongdoing within their workplace. Given these changes, businesses need to be thinking not just about how... |
Advisory Financial Crime Exchange Forensic | Insight | 17 November 2017 |
|
Australia dragging its heels on public sector corruption in... |
Corruption costs the global economy $2.6 trillion a year and has the potential to damage the principles of democracy, justice and the economy. Australia is a relatively clean country, especially when compared to countries such as... |
Advisory Financial Crime Exchange Forensic | Insight | 16 November 2017 |
|
FCX Panel Discussion – Gambling: The Hidden Addiction |
To mark International Fraud Awareness Week, McGrathNicol’s collaboration hub FCX last night hosted a series of expert panels in each of our offices in Australia and New Zealand to discuss experiences and challenges for... |
Advisory Financial Crime Exchange Forensic | Insight | 15 November 2017 |
|
Technology-enabled crime, know where to go for help |
Technology-enabled crimes, such as online fraud, identity theft and scams are now an undeniable part of our digital existence. The average number of digital devices connected to the internet in the average Australian household is... |
Advisory Technology & Cyber | Insight | 14 November 2017 |
|
Balancing the risks and opportunities of BYOD (bring your... |
Many businesses have already moved parts of their technology to the cloud or are in the process of doing so and digital transformation is part of many growth strategies. BYOD is another common way of providing access to... |
Advisory Technology & Cyber | Insight | 13 November 2017 |
|
|
Working Capital Report 2017 |
Welcome to the 2017 McGrathNicol Advisory Working Capital Report, prepared by our Cash and Working Capital Centre of Excellence. This report profiles the working capital performance of a sample of 160 ASX listed companies across... |
Advisory Strategy & Business Improvement | Report | 26 October 2017 |
|
Whistleblower legislation – implications on your business |
The Federal Government released its long-awaited draft whistleblower protection legislation on 23 October 2017. If passed as currently drafted, the Treasury Laws Amendment (Whistleblowers) Bill 2017 will create a single... |
Advisory Financial Crime Exchange Forensic | Insight | 25 October 2017 |
|
Worried retailers advised to get online |
Despite a string of recent receiverships and Kiwis continuing to shop overseas, New Zealand retail sales are growing. In the year to June, retail growth was up 3.7 per cent, outpacing economic growth at 2.7 per cent. McGrathNicol... |
Advisory Strategy & Business Improvement | Media | 22 October 2017 |
|
Avoid these common Financial Modelling mistakes – Part 3 |
Outlined below are some key best practices that will help you save time and build clear, robust and well-structured models. 1. Keep it simple Whilst the project you are modelling might be complex, it is always possible to break... |
Advisory Strategy & Business Improvement | Insight | 19 October 2017 |
|
In Retail – FY17 in Review |
SNAPSHOT Retail sales up 2.9% to $307 billion Online sales slowing, but continuing to outpace traditional retail sales Consumer confidence in pessimistic territory and down a further 5.9% As was predicted, retailers faced... |
Advisory Strategy & Business Improvement | Insight | 10 October 2017 |
|
In Retail – New Zealand FY17 in Review |
SNAPSHOT FY17 retail growth was strong at 3.7% (nominal 5.5%) and continued to outpace the broader economy, with GDP growing 2.7%. Retail growth in FY17 was spread across the country, with the exception of Canterbury, which had... |
Advisory Strategy & Business Improvement | Insight | 10 October 2017 |
|
Cybersecurity is not just a ‘big business’ issue |
Cybersecurity risk affects us all, whether we have taken the time to consider it or not, and independent of whether we have had the foresight to develop a plan to deal with it. Every time we use the myriad devices now embedded in... |
Advisory Technology & Cyber | Media | 5 October 2017 |
|
Right funding, right timing – Biotech in focus |
Attracting the right amount of capital, from the right sources, at the right time is perhaps the most critical factor for any early stage tech company or start-up. Now, more than ever, early stage companies have access to depth... |
Advisory Strategy & Business Improvement | Insight | 21 September 2017 |
|
|
Avoid these common Financial Modelling mistakes – Part 2 |
Let’s keep decoding some key learning points in financial models. 1. Avoid using VLOOKUP VLOOKUP is one of the most popular functions in Excel. Whilst it is a simple function, it has many limitations including: it cannot lookup... |
Advisory Strategy & Business Improvement | Insight | 15 September 2017 |
|
|
Which directors have access to Safe Harbour? |
With the Safe Harbour reforms passing through the Senate late Monday night, it’s a timely reminder of what is required of directors to rely on the reforms. The reforms are designed to be accessible to all business however;... |
Restructuring | Insight | 13 September 2017 |
|
Congratulations to McGrathNicol Partners Jason Ireland and Robert Smith... |
Boart Longyear Limited (ASX:BLY) – Boart Longyear announces changes to its Board of Directors in conjunction with the implementation of its recapitalisation. Read more...... |
Advisory Restructuring | News | 8 September 2017 |
|
In-house counsel as trusted business advisor |
It is inevitable that some, perhaps even a good deal of, an in-house counsel’s time can be spent managing disputes. It is a vital role to defend the business against claims from external parties such as suppliers, competitors... |
Advisory Forensic | Media | 7 September 2017 |
|
Extension of minimum term |
Late last year we discussed the Personal Property Securities Act 2009 (PPSA) and the concept of protecting asset ownership of asset holders. Updates to the definition of PPS leases Amendments to the PPSA earlier this year have... |
Restructuring | Insight | 5 September 2017 |
|
Valuation – it’s not all about the numbers |
The key financial drivers of ‘value’, being a company’s historical and future revenue, profitability and growth, are no secret. Intriguingly, some companies do not place equal importance on the key non-financial drivers of... |
Advisory Transactions | Insight | 29 August 2017 |
|
Gone phishing… |
What do the likes of Yahoo, American Express, PayPal and Target (US) have in common? They were all victims of brutally efficient phishing scams that ended up costing millions of dollars and in some cases tarnished reputations.... |
Advisory Technology & Cyber | Insight | 28 August 2017 |
|
|
Avoid these common Financial Modelling mistakes |
Even small mistakes when building financial models can significantly affect your analysis. According to a recent survey, 70% of financial models contain errors that affect their results. So let’s decode some major mistakes in... |
Advisory Strategy & Business Improvement | Insight | 22 August 2017 |
|
Don’t let business integration challenges derail the achievement of... |
Realising the anticipated synergies that underpin an acquisition and successfully managing the integration risks can be a challenge following a merger or acquisition. There are several key steps to successfully integrate newly... |
Advisory Transactions | Insight | 21 August 2017 |
|
APES110 – Keep your eyes wide open |
In May 2017, a new section was introduced to APES 110 Code of Ethics for Professional Accountants. Responding to Non-compliance with Laws and Regulations, “NOCLAR”. This was in response to concerns from regulatory and... |
Advisory Governance, Risk & Compliance | Insight | 18 August 2017 |
|
Corporate streamlining – the low hanging fruit |
The start of a new financial year presents the perfect opportunity for management teams to get the house in order, and to look for easy ways to reduce costs. An often untapped area in this pursuit is the corporate structure.... |
Advisory Strategy & Business Improvement | Insight | 17 August 2017 |
|
What can SMEs do to improve cash flow? |
Cash is vital to any organisation, large or small. But quite often smaller businesses feel the cash flow squeeze when doing work for larger customers because they lack the commercial leverage or scale to negotiate shorter... |
Advisory Strategy & Business Improvement | Insight | 14 August 2017 |
|
True lies – What really is a ‘debt-free’ deal... |
Most M&A transactions are structured on a ‘cash-free, debt-free’ basis. Cash is relatively straightforward, with some exceptions, for example unpresented and inbound cheques and cash that may be working capital, e.g. cash... |
Advisory Transactions | Insight | 8 August 2017 |
|
The life of a Hacked PC |
A compromised or “Hacked PC” affects more than just that device. It introduces risk to an entire connected ecosystem and can play a critical role in a much larger web of cybercrime. This not only includes theft of an identity... |
Advisory Technology & Cyber | Cyber Alert | 3 August 2017 |
|
Eighteen Australian Universities discuss financial crime research |
McGrathNicol’s collaboration hub FCX last week hosted more than 45 representatives from 18 Australian Universities at a roundtable for a presentation on the latest research into financial crime and to share industry experiences... |
Advisory Financial Crime Exchange Forensic | Insight | 2 August 2017 |
|
Does EBITDA reflect cash flow? |
Value in almost all deals is struck on a multiple of reported EBITDA. The basis is sound isn’t it? The logic is that EBITDA does not include tax and interest or non-cash items such as depreciation and amortisation so therefore... |
Advisory Transactions | Insight | 2 August 2017 |
|
Retail analytics – More than Marketing |
Too often in retail, analytics is limited to customer or marketing analytics and is seen as a tool to be used solely by the marketing team. This is like driving a Ferrari at 20km/hr. Analytics is significantly more powerful than... |
Advisory Strategy & Business Improvement | Insight | 28 July 2017 |
|
Underinvestment – Is it a burning platform? |
Retailers must ingrain investment into a future focussed strategy if they want to enjoy ongoing success. Too often investment is cut when money starts getting tight. However this is shortsighted. Zero sum game Market share is a... |
Advisory Strategy & Business Improvement | Insight | 28 July 2017 |
|
China’s sharing economy – Mobike takes centre stage |
The concept of bike sharing is not new. Indeed many countries have had a similar service for years. However, arguably no single proprietor has achieved the same level of success as China’s Mobike. In Mobike’s latest... |
Advisory Strategy & Business Improvement | Insight | 28 July 2017 |
|
Heightened risk of fraud facing Australian universities |
McGrathNicol fraud risk management expert Graham Newton recently spoke with the Australian Financial Review’s education editor about the heightened risk of fraud facing Australia’s Higher Education sector. According to Graham... |
Advisory Financial Crime Exchange Forensic | Media | 27 July 2017 |
|
An offer you can refuse – when unsolicited offers... |
An unsolicited offer is often the catalyst for much soul searching and can develop into unwanted distraction if not managed carefully, and quickly. When first assessing an unexpected proposal, business owners should consider the... |
Advisory Transactions | Insight | 17 July 2017 |
|
Growth – a double edged sword? |
Revenue growth continues to be the key metric reported for retailers (particularly listed retailers). However, revenue growth can often be a double-edged sword. Five key factors to consider, to ensure growth delivers the expected... |
Advisory Strategy & Business Improvement | Insight | 10 July 2017 |
|
Implications of the proposed amendments to Australia’s foreign bribery... |
Australia has taken recent steps to strengthen its anti-bribery and corruption regime by proposing amendments to the foreign bribery offence in the Criminal Code Act 1995 and proposing to introduce a deferred prosecution... |
Media | 30 June 2017 | |
|
Meet Our New Partners |
The Partners at McGrathNicol are delighted to announce the promotion of five new Partners. We congratulate and welcome Darren Hopkins, Shane Bell, Kathy Sozou, Janine Thompson and Rob Brauer to the partnership. They are all... |
Advisory Forensic Restructuring Technology & Cyber | News | 22 June 2017 |
|
Modest moves to amend Australian foreign Bribery laws |
The Attorney-General’s Department yesterday released proposed amendments to the existing Australian foreign bribery laws. Though they fall short of creating a new global benchmark for bribery and corruption laws, they are... |
Advisory Forensic | Insight | 5 April 2017 |
|
Bribery and Corruption – Deferred Prosecution Agreements |
The effectiveness of the Australian Federal Police (AFP) and the Australian Securities and Investments Commission (ASIC) investigating and prosecuting white collar crime has recently been criticised following allegations of... |
Advisory Forensic | Insight | 1 December 2013 |
|
Abolishing the Exemption for Facilitation Payments – The New... |
Planning for the removal of Australia’s facilitation payments’ defence may seem a little premature. After all, the Attorney-General’s current review of facilitation payments has been ongoing since November 2011 and is yet... |
Advisory Forensic | Insight | 1 August 2013 |