Australia and New Zealand Intensify Scrutiny on Big Four Accounting Firms Amid Scandals and Evolving Workforce Expectations

Australia is considering significant regulatory reforms for the Big Four accounting firms following a series of misconduct scandals, including misuse of confidential information and cheating on internal exams. Simultaneously, a Deloitte survey in New Zealand reveals that younger professionals are prioritizing financial independence, work-life balance, and purpose over traditional career paths, posing a challenge for firms in attracting and retaining talent. These dual pressures highlight a critical juncture for the accounting profession in Oceania, demanding both ethical rebuilding and adaptation to new workforce values.