AUSTRALIA is safeguarded from the worst of the global financial markets because of the strength of the nation's big four banks, according to KPMG partner Kevin Smout.
The corporate watchdog has started legal proceedings against accounting firm KPMG over its role in the collapsed Westpoint Group, where alleged negligent auditing claims are in the order of $200 million.
Perth-based Incremental Petroleum Ltd today dismissed suggestions by Cooper Energy Ltd that it has insufficient cash to fund its growth strategy as "scare mongering".
Perth-based agricultural investment manager Great Southern Ltd has unveiled its revised restructure plans after a falling share price forced it to go back to the drawing board.
South-Perth based Cooper Energy Ltd chairman Laurie Shervington today said KPMG's valuation of its hostile takeover target Incremental Petroleum Ltd was out with the fairies.
CREDITORS will be hoping for higher returns from the collapsed Palandri Wine Group as the company is placed into liquidation and the probe into some of the group's transactions continues.
THE market capitalisation of Western Australian listed companies crashed to a 20-month low during September, falling 21 per cent to $127 billion, according to the Deloitte WA Index.
Creditors of the collapsed Palandri Wine Group have today voted overwhelmingly in favour of placing the company into liquidation, but a return figure has yet to be determined as suspect transactions warrant further investigation.
The market capitalisation of Western Australian listed companies have crashed to a 20-month low over September, falling 21 per cent to $127 billion, according to the Deloitte WA Index.
PERTH'S insolvency world is undergoing a restructuring of its own ahead of an expected rush of new business in the wake of the credit crunch and global banking crisis.
Despite the volatility in the wider market, the Deloitte index of Western Australian stocks rose by nearly six per cent over the past 12 months, compared to the All Ordinaries index which declined by over 16 per cent.
Lawyers representing the voluntary administrators of the Palandri group of companies are scheduled to appear in the Supreme Court of Western Australia on Monday in an attempt to have the group's managed investment schemes wound up.
Corporate executives who are remunerated via shares and options will continue to be subject to close scrutiny from the Australian Tax Office this financial year, according to Deloitte Reward partner Joe Tropeano.
Parochial investors who put their money into Western Australian stocks have just experienced their worst year in nearly a decade, judging by the results of WA Business News' annual total shareholder return survey.
PricewaterhouseCoopers was the fastest growing accounting firm in Western Australia during the past year, with the number of accountants up more than 22 per cent on the previous year.
Shares in agribusiness investment manager Great Southern Ltd jumped briefly higher today after a major restructure proposal to create a company with three business streams.
Liver cancer treatment company Sirtex Medical Ltd has applied for an injunction against former chairman Bruce Gray to stop him from competing with the firm after he backed down from an earlier commitment.
West Perth-based ipernica Ltd will lend its knowledge to a Melbourne company caught in legal proceedings in the United States over its intellectual property rights.
