Karen McDonald, Accountancy Insurance   Cyber incidents are not hypothetical. This case study outlines a real cyber claim that Accountancy Insurance was involved in and demonstrates how quickly a phishing email can escalate. Cyber incident case study: Phishing and invoice fraud The insured received multiple phishing emails sent to employees…

Woolworths reported a 4.5 per cent increase in sales for the March quarter, reaching $18.1 billion across its network. The bigger story for many Australians is what may happen next to the cost of essentials. Woolworths says global instability and higher oil prices are beginning to flow through supply chains.…

The latest labour force data showed modest gains in employment, while the number of unemployed people fell by 3,700. On the surface, the figures suggest a resilient labour market, but analysts caution that the survey’s timing may not yet reflect emerging economic risks. The data was collected in the early…

Karen McDonald, Accountancy Insurance   Artificial intelligence (AI) is rapidly finding its way into accounting practices. From drafting emails to automating repetitive tasks, many firms are experimenting with AI tools to improve efficiency. A newer development is the rise of “” where users build small applications or agents using AI…

Karen McDonald, Accountancy Insurance   There have been a few questions raised about whether our Professional Indemnity PI Shield provides cover in relation to the new Anti‑Money Laundering (AML) laws.The answer is yes. Cover is available under the Statutory Liability section of the policy, subject to a sub‑limit of $250,000.…

Recent data shows a sharp increase in job vacancies, reaching their highest level in over a year. This means employers are actively searching for workers across many industries. This could work in your favour if you are currently job hunting or considering a career change. However, the situation is not…

When the Australian share market recently lost more than $50 billion in a day, it wasn’t just investors who felt the impact. It also flowed to superannuation balances, job security, and the rising cost of living. While markets naturally fluctuate, sudden losses can be unsettling, particularly for those nearing retirement.…

Over the past year, spending on services has climbed sharply, up 5.9 per cent, while goods rose 3.5 per cent. On paper, that might suggest confidence. In reality, much of that increase reflects higher prices rather than fuller shopping trolleys. Annual inflation sat at 3.8 per cent in January, meaning…

Most accounting and bookkeeping professionals do not think of themselves as “targets”. They see their work as routine, trusted and structured. Tax returns, payroll, BAS lodgements, reconciliations. Important work, but familiar work. For many firms, cybercrime still feels like something that happens to banks, retailers or large corporations with dedicated…

After a busy stretch of earnings announcements, the S&P/ASX 200 edged slightly lower in the final session but still managed to secure a modest weekly gain. The index slipped just 0.05 per cent on Friday to close at 9081.4, yet ended the week up 0.4 per cent overall. Market performance…