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The Latest Breaking News from KPMG

Customer-owned bank unveils new name: People First Bank

The bank formed by the March merger between Heritage Bank and People's Choice Credit Union will rebrand under a single name.

AAP

Consumer confidence stages end-of-year rally

GfK’s long-running Consumer Confidence Index rose by six points in November, although it still languishes firmly at minus 24.

The Independent UK

Report critical of big four consultancies was censored by Australian government agency, academic claims

Peter Carey tells inquiry he was asked by Accounting Standards Board to omit details because partners from PwC, KPMG, Deloitte and EY sat on the board

The Guardian - AU

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Florida's Bloated Prison System Will Cost Billions To Maintain

Florida's mandatory minimum sentences created a large, elderly prison population. Now the bill is coming due.

Reason

Firms that donate to political parties twice as likely to win government contracts, analysis finds

Transparency group says donating companies should be banned from government contracts but constitutional expert disagrees

The Guardian - AU

Consultancy firms paid $40m to review safety of aged care homes did not meet government standards

KPMG was among the four firms to have had reports rejected, a Senate inquiry heard, putting pressure on abandoning future outsourcing altogether

The Guardian - AU

KPMG lodges complaint after AI-generated material was used to implicate them in non-existent scandals

Senate inquiry into Australian consultancy industry concedes its integrity has been undermined by reliance on case studies generated by Google Bard AI tool

The Guardian - AU

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Australian academics apologise for false AI-generated allegations against big four consultancy firms

Case studies created by Google Bard AI as part of submission to parliamentary inquiry proven to be factually incorrect

The Guardian - AU

Afternoon Update: Australia toughens stance as Gaza death toll soars; woman found dead at Bendigo home; and Australians eat too much salt

Foreign minister Penny Wong says the world will ‘not accept’ continuing civilian deaths in Gaza

The Guardian - AU

Warren Mundine launched expletive-riddled spray after KPMG rejected his $10,000 speaker’s fee

Exclusive: Prominent no campaigner told senior staffer that ‘I’m going to treat you cunts like you treated me’

The Guardian - AU

Rema Serafi will soon become the first woman to serve as vice chair of tax at KPMG US. She shares career advice and why tax is getting ‘exciting’

Serafi will lead a team of more than 10,000 partners and professionals.

Fortune

Consumer confidence plunges in run-up to festive season

GfK said accelerating costs of energy, fuel and mortgages combined with uncertainty in the Middle East is behind the fall.

The Independent UK

3 Software Stocks to Buy on the Move

The rising need for digital solutions and the inclination toward AI drive the software industry's growth. Therefore, investing in fundamentally strong software stocks Microsoft (MSFT), ServiceNow (NOW), and F5 (FFIV) could be wise. Read more….

StockNews.com

Job vacancies fall as cautious firms wait on signs of economic upturn

The latest data came as a survey showed hiring in London falling for the 12th consecutive month

Evening Standard

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Fortune

CEOs are secretly plotting against hybrid work

Roughly 64% of CEOs believe there will be a full return to office by 2026, according to a survey of more than 1,300 CEOs from KPMG.

The Guardian - AU

The office returns: are the days of Australians working from home numbered?

Working remotely during the pandemic disrupted a centuries-old agreement between employers and employees. What now for WFH?

The Guardian - UK

More than £2bn of UK foreign climate aid channelled through consultancies since 2010

Findings raise concerns among experts who say climate funding works best when invested directly in local communities

The Guardian - UK

Carillion and the government’s shameful inertia on reform

Outsourcer’s collapse revealed disgraceful failures at auditor KPMG, yet six years on where is tough new regulator we were promised?

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The Guardian - UK

KPMG boss says Carillion auditing was ‘very bad’ as firm is fined record £21m

Jon Holt says some employees ‘simply didn’t do their job properly’ in run-up to one of UK’s biggest corporate failures

Fortune

Gen Zers hate being told what to do—especially with RTO. But they are more likely to want to come into the office if they think their workplace is unique

If CEOs want to get Gen Z workers back in the office, they’ll need to motivate them to come back.

The Independent UK

Retail sales growth slows amid higher costs for consumers

Total UK retail sales limped to a 2.7% increase in September despite the fall in inflation, according to the BRC-KPMG Retail Sales Monitor.

France 24

Political uncertainty number one concern for CEOs: KPMG survey

KPMG's CEO outlook for 2023, seen as a temperature check for business leaders around the world, shows geopolitics bolting to the number 1 concern. The survey also found that an overwhelming majority of CEOs are likely to reward employees for returning to the office after the pandemic. France 24 spoke…

Fortune

Your CEO wants you back in the office so badly they’re willing to bribe you

CEOs plan to entice employees back to the office with favorable assignments, raises, and promotions, a KPMG survey finds.

The Guardian - UK

Two-thirds of CEOs think staff will return to office five days a week, survey finds

Most company leaders also believe pay and promotions could become linked to workplace attendance

Evening Standard

Five in six CEOs mull tying pay or promotions to days spent in the office

More than 60% of bosses expect to see a “full return” to office working by 2026

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Jacinta Nampijinpa Price

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