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AI reliance to dominate financial reporting in three years
Business leaders expect generative AI to revolutionise financial reporting, predicting 99% of organisations will use the technology in financial reporting in three years. Business leaders foresee that auditors will be at the forefront of the technology transformation, according to a survey by KPMG International. The study surveyed global financial reporting executives and board members at...
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Mortgage brokers dominate home loan market, transform banks’ profit
As reported on ABC News, home loans continue to dominate the profits for banks but recently, the profit margins have been decreasing due to customers preference for mortgage brokers when finding a loan for their homes. Approximately 75 per cent of new home loans are now negotiated through mortgage brokers thus disrupting the historical relationship...
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Funding boost in training to grow skilled workforce
The WA government has allocated $195 million in its 2024-2025 State budget towards building the skilled workforce. Accessibility to training remains a priority for the government and in this respect, it has announced an $8 million top-up to continue the successful Fee Free TAFE initiative in 2025. The initiative aims to upskill the workforce to...
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Government to incentivise property owners to rent vacant homes
The WA Government will offer property owners $5000 to convert their vacant properties into long-term rental homes. As part of the 2024-2025 State Budget, the new $5 million Vacant Property Rental Incentive Scheme will offer payments to owners of up to 1000 vacant properties who meet the criteria of providing a 12-month minimum lease agreement...
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Cautionary approach required to rollout of AI
As reported in the online publication WAtoday, Australia’s privacy commissioner is urging caution in the speed at which AI is being rolled out by big technology companies. Commissioner Carly Kind is concerned that the fast-evolving technology is being deployed without appropriate safeguards in place for citizens. The privacy commissioner has powers to investigate serious privacy...
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Debt relief for students in VET sector
The Australian government will be ‘wiping out’ $3 billion in student debt across the higher education and VET sectors by overhauling the debt indexation measure that is currently used to determine increases. Students who owe money through HECS -HELP, the VET Student Loan program or Australian Apprenticeship Support Loan will benefit from the changes to...
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HR practitioner explores emotional salary as key to retaining staff
According to Stephen Duncan, head of people at The Access Group, emotional salary is the area of business that keeps employees happy. Employees are increasingly seeking out organisations where they feel their work is making a difference and feel connected to the organisation. The generation of younger employees is driven by purpose and considers an...
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A pay raise for ‘feminised’ industries key step to achieving equal pay
The Australian Council of Trade Unions (ACTU) has called on the federal government to increase salaries in ‘feminised’ industries by 9%. The ACTU’s secretary, Sally McManus commented that an increase will alleviate the high cost of living pressures and take a first step to properly value the work of the women who do critical work...
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Navigating gender equality reporting
The Workplace Gender Equality Agency’s (WGEA) Gender Equality Reporting Program is a mandatory program for all non-public sector eligible employers under the Workplace Gender Equality Act 2012. The 31 May 2024 deadline to report on gender pay gaps applies to non-public sector employers with 100 or more staff. The program aims to assist organisations in...
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The Other Force website launched to support skills across defence
The WA Government has launched The Other Force, a dedicated website to support training and employment in WA’s defence industry. The defence industry is critical to economic diversification and job creation in the state. The Defence industry employs individuals in technical and office-based business roles thus offering interested candidates a variety of roles to choose....
