Experience RSM April - June 2023

From our leader Jamie O’Rourke

As we say goodbye to 2023 and welcome 2024 we are one step closer to achieving our national strategic objectives. The 2023 year has been an exceptional year in so many respects and I am confident we are living out our purpose of instilling confidence in a world of fast and dramatic change.

It was gratifying to see RSM win the Client Choice Awards for the fifth year straight in March - just days after our 101st birthday. This year our clients again recognised RSM as the Best Accounting & Consulting Services Firm (>$200m rev) and also the Best Professional Services Firm (>$200m). The latter includes all professional services (eg Law, Engineering and Consulting) so this really is a special recognition from our clients on how we serve them. The other award worth mentioning, especially with the current focus on Government consulting, is the recognition that RSM was voted the Best Provider to Government & Community. A small but growing part of our national business. These awards are a testament to the dedicated service we all provide clients and the manner in which we listen and respond to their unique needs. We should all feel very proud of these achievements.

Our digital transformation journey continues as a key part of our 2024 strategy. The enterprise Portfolio Management Office (ePMO) has made impressive progress, reviewing and prioritising 458 ideas and initiatives from our staff. We have already begun work on the highest-scoring ideas, with further projects to be initiated. We have adopted automation software, such as UiPath, to support automation in various divisions and Alteryx to improve the efficiencies in our audit engagements and also to generate improvements in Tax and Corporate Finance. These digital advancements along with our planning for the adoption of Artificial Intelligence will improve efficiency, streamline operations, and enable us to deliver an improved client and employee experience.

As we move ahead, our commitment to advancing our sustainability efforts remains a priority. Nicole Mohan, our National Sustainability Lead, is spearheading our climate change and sustainability agenda. Visit the sustainability hub on myRSM for updates.

We have seen an increased response rate to our pulse surveys and we will continue to conduct them quarterly to gather your feedback and insights. Some of the positive feedback we have received is about the great work-life balance we have at RSM, which is wonderful to hear. Please continue to provide feedback as it will guide us in making informed decisions.

I am also excited to see the rollout of our new Employee Value Proposition (EVP), highlighting the experiences, benefits and value that you can expect when you are part of RSM. Our new EVP is underpinned by our firm values: Integrity in everything, Developing and valuing everyone, Supporting clients everywhere.

I am pleased to announce the following appointments to the RSM Senior Leadership team, effective 1 July 2023: National Executive – 3 Year Term:

ƒ Robert Miano: Melbourne Assurance & Advisory Partners:

ƒ Riaan Bronkhorst: Perth Risk Advisory Services

ƒ Peter Xi: Sydney Research & Development

ƒ Catherine Bell: Perth Risk Advisory Services

ƒ Don Holley: Sydney Risk Advisory Services

New Appointments

Principals:

ƒ Aleesha Bailey: Sydney Business Advisory

ƒ Kenneth Lai: Melbourne Corporate Finance

ƒ Stephanie McAuliffe: Perth Corporate Finance

ƒ Derek Xie: Sydney Business Advisory

Additionally, I want to congratulate the following staff members on their promotions to Associate Director:

ƒ Tranquility Clinton: Melbourne Risk Advisory Services

ƒ Kaustabh Vazalwar: Melbourne Security & Privacy

ƒ Dr. Mary Wang: Melbourne Supply Chain and Procurement

Please join me in congratulating these individuals on their new roles and responsibilities. We look forward to their continued contributions to RSM’s success.

Congratulations also to the following staff members who have become Chartered Accountants:

ƒ Nicholas Campbell: Brisbane - Restructuring & Recovery

ƒ Nick Vilgan: Brisbane - Business Advisory

ƒ Dylan Bridge: Gosford - Business Advisory

ƒ Callum Hayden: Melbourne - Assurance & Advisory

ƒ Elizabeth Hall: Melbourne - Risk Consulting

ƒ Melissa Ruge: Northam - Business Advisory

ƒ Nicki Kidman: Port Lincoln - Business Advisory

ƒ Mitchell Dunn: Wagga Wagga - Advisory

Well done on your achievements.

In addition to the growth in new services we have also expanded existing offices with merger and acquisition activity. In Esperance, we expanded our services through the acquisition of Arc Accounting and Financial Services while in Wagga Wagga, we merged with Granleese McEwen, further strengthening our presence in regional Australia. Congratulations to both offices on these expansions.

I would also like to acknowledge the strategic decision to merge the teams in Rockingham and Mandurah. Under the leadership of Tom Huberli, I am confident that this consolidation will create a stronger and more efficient practice, benefiting both our clients and our team members.

Thank you all for your hard work and dedication. Together, we are driving RSM Australia towards success.

Warm regards,

Jamie O’Rourke

Chief Executive Partner

STAFF ANNIVERSARIES

40 YEARS

Sharon Barnes (Bunbury)

25 YEARS

Judy Snell (Moora)

Debra Hood (Fremantle)

Pamela Wilson (Fremantle)

20 YEARS

Matthew Gordge (Adelaide)

Ray Scott (Fremantle)

15 YEARS

Mark Giallourakis (Sydney)

10 YEARS

Matthew Roberts (Melbourne)

Kristina Madden (Ballarat)

Paul Lindley (Wagga Wagga)

5 YEARS

Asma Chowdhury (Sydney)

Maryanne Kyriacou (Sydney)

Lisa Campbell (Melbourne)

Amelia Houston (Merredin)

Deb Hueppauff (Moora)

Swetha Nannegari (Melbourne)

Carol Chen (Melbourne)

Olivia Pillay (Melbourne)

Elizabeth Ploetz (Brisbane)

Jen Hanrahan (Geraldton)

Congratulations to everyone who celebrated their work anniversaries this quarter. And a special shout-out to Sharon Barnes for reaching the incredible milestone of 40 years with RSM. Thank you for four decades of outstanding service and loyalty. We hope to see many more to come.

RETIREMENTS

The Brisbane office says farewell to Partner Albert Loots, who has been an invaluable asset.

We would like to thank Albert for his diligence and hard work. The Assurance and Advisory division appreciates his efforts.

The Sydney office wishes Partner Philip Price all the best for his future endeavours as he enters retirement.

Philip was a fantastic colleague to work alongside in the Business Advisory division.

The Sydney office bids farewell to Partner Peter Saccasan for his outstanding efforts in the Business Advisory division and leading the health team nationally.

Peter will be dearly missed around the office and we wish him well for the future.

SIGNIFICANT CLIENT WINS

Perth

ƒ WA Country Health Service - $95k (Risk Advisory)

ƒ Office of the Auditor General - $208k (Assurance and Advisory)

ƒ Burgundy Diamond Mines Limited - $80k (Corporate Finance)

ƒ Catholic Education of Western Australia - $65k (Risk Advisory)

ƒ Picture Wealth Holdings Ltd. - $60k (Corporate Finance)

ƒ Accent Resources NL - $50k (Audit and Assurance)

ƒ City of Wanneroo - $35k (Corporate Finance)

ƒ Asra Minerals - $57k (Assurance and Advisory)

ƒ CleanSubSea Ltd - $30k (Corporate Finance)

Canberra

ƒ Frank Lo Pilato and Jonathon Colbran were appointed as Liquidators of Canberra’s wellknown Pialligo restaurant and function business. The appointment followed an announcement that the Estate had ceased operating after the business was unable to reach an agreement with its financier to continue trading. The financial statements and records of Pialligo Estate have identified in excess of $6m owed more than 500 secured and unsecured creditors. This includes the Australian Taxation Office, over 200 casual and full-time staff, around 170 suppliers and 110 customers who had paid deposits for future bookings. The Liquidators expect to issue a detailed report to creditors outlining the outcome of their investigations in July 2023 (Restructuring & Recovery).

ƒ Department of Health and Aged Care – Contract extension on original $200K engagement for Program Support for new Cancer Screening Program - $150k (Assurance & Advisory)

ƒ ACT Government – Quantification of electrification activity and gas transition progress based on government databases - $180k [this engagement was developed in consultation with Sydney Data Analytics team (Matthew Cunneen – Engagement Partner), external energy/ESG experts (EnergyLink) with Canberra RAS (Angela Friend) providing stakeholder engagement and facilitation component] (Audit and Assurance).

ƒ Papas Group - $50k (Business Advisory)

ƒ Livability Australia - $42k (Business Advisory)

ƒ Ausvet - $35k (Business Advisory)

Melbourne

ƒ Professionals Australia- $65k (Assurance & Advisory)

ƒ Lark Distillers Co. Ltd - $100k(Assurance & Advisory)

ƒ Ampacet - $48k-$60k (Business Advisory)

ƒ EPA Victoria fraud and corruption assessment $109k (Fraud & Forensics)

ƒ EPA Victoria building investigation and intelligence capability engagement by 30 June $227K (yes, $227,000!) (Fraud & Forensics)

ƒ Department of Energy, Environment and Climate Action (DEECA) – Procurement Project Assurance Review - $49k (Risk Advisory)

ƒ Melbourne Arts Precinct Corporation (MapCo)$99.6k p/a (Risk Advisory)

ƒ DOH-New West Gippsland Hospital - $130k (Probity)

ƒ Dyno Dynamics (largest chassis and engine dynamometer manufacturer and designer in the southern hemisphere) - $100k+ Voluntary Administration to compromise $2m in debt (Restructuring & Recovery)

ƒ Providoor — $200k ($150k R&R and $50k CF) – wind up and sell assets with $6m in creditors. Worked with Marketing to develop an automated process to manage 35,000 creditors (Restructuring & Recovery)

ƒ Circle Mutual — $80k (referral from Glyn Yates) initial review and board advice to prepare a windup plan and wind up the Circle Alliance Bank that has been sold to Bendigo Bank (Restructuring & Recovery)

ƒ Complex Bankruptcy transfer from the Government — $100k (referral won by Tristana) to undertake a complex investigation and commence legal action re: $1m in transactions (Restructuring & Recovery)

ƒ Rijk Zwaan - $25k (Tax)

ƒ AME Systems - $28.5k (Tax)

Sydney

ƒ CVS Group PLC - $500k (Corporate Finance)

ƒ Vysarn Limited - $195k (ERP Consulting)

ƒ Good Price Pharmacy - $153k (ERP Consulting)

ƒ Pacific Hydro Australia - $150k (Risk Advisory)

ƒ Northern Sydney Local Health District - $145k (Risk Advisory)

ƒ Cubic - $110k (Assurance and Advisory)

People & Culture

Fun Stuff

Members of the Canberra office were dressed to the nines for the Lifeline Ball in June.

The event provided a wonderful opportunity for them to unwind, connect with colleagues, and support a meaningful cause.

The Brisbane office held their annual Partners BBQ in the Park on 21 April, where the Partners in the office bbq’d for the staff. Games were played in between a couple of showers which certainly didn’t dampen the spirts.

Junas Philips and Connor Farrell took the lucky Canberra Audit Secondees on an unforgettable journey to New York City!

The Wagga Wagga office are proud to represent RSM in their local mixed touch-football team.

Fun Stuff

RSM in Albury celebrated ANZAC Day, with this lovely morning tea spread. Staff were also fortunate to hear firsthand from third generation soldier, Tony Crilly. Tony spoke about his personal experiences and the difficulty of war. He also shared stories from his friends and family who have been in active military service. Lest we forget.

The Melbourne office hosted a games night at Fortress on Friday, 26 May.

The Melbourne team definitely know how to kick-start the weekend.

RSM in Rockingham have been working hard behind the scenes getting their new office ready for their merger with Mandurah. This included re-arranging the open plan space to incorporate more desks, a new dedicated administration & reception area and working with the Digital & IT Teams to ensure a smooth transition of all their systems. We think they did a great job!

The Brisbane office entered a Touch Rugby League competition on 26 May, which also featured 13 other teams. Despite never playing together as a team before, team Brissy won the first two games and made it to the semi-finals. Well done!

talkBIG Season 2 Episode 9: Is Your Small Business Protected? Cyber Security Tips You Need To Know

In the latest talkBIG episode, our hosts Andrew, Young, and Chris sat down with RSM’s National Head of Cyber Security and Privacy Risk Services, Darren Booth, to uncover some startling truths about the seedy underworld of cybercrime and how businesses can protect themselves from cybercriminals.

They cover some great tips on where to start with cyber security, how people actually get hacked (you might be surprised!), whether cyber insurance is worth it, and the consequences for a business that experiences a breach.

Regional Newsletter

The Full Account

We recently released the second edition of our National Regional Newsletter, The Full Account, which landed in the inboxes of our valued regional clients from the Great Southern Coast of Albany to the heart of the Riverina of Wagga Wagga. This edition had a specific focus on the end of the financial year (EOFY) and provided valuable insights and guidance to assist our clients in navigating this crucial period.

The Full Account aims to nurture and maintain strong relationships with our clients by keeping them informed, engaged, and connected with RSM. In addition to local news and office updates, the newsletter includes a wide range of informative articles, practical tips, and relevant updates.

If you have a regional client who is yet to subscribe, please share the link available here

thinkBIG Report: SME Survival Guide to Inflation and Interest Rate Rises

With inflation reaching levels not seen in decades and interest rates rising, Australian small and medium enterprises (SMEs) are under immense pressure. Our latest thinkBIG report helps business leaders adapt and succeed in this challenging environment.

The thinkBIG: SME survival guide to inflation and interest rate rises report outlines key pricing strategies to guide businesses in developing an effective strategy. We also share tips on how to manage debt and provide expert insight into industry-specific trends and business strategies.

TO READ IT

This is a really useful report to share with any SME clients - you can find the report, along with supporting materials to promote it on myRSM here.

Financial Reporting Updates with National Technical Director Ralph Martin

This year’s Financial Reporting Updates with Ralph Martin were a great success. Things kicked off in Brisbane on 15 May, then travelled across the nation to deliver updates to crowds in Sydney, Perth, Ballarat, Melbourne and Canberra over the last two months. Ralph provided attendees with an overview all things pertinent to the 30 June 2023 reporting season. For those unable to attend in person, we also hosted a webinar on 24 May. The events garnered significant interest, with over 850 professionals registering to attend. Ralph fielded questions from diverse audiences around the country, including Directors, CFOs, financial controllers, finance managers and financial accountants. Access the webinar here to share it with your clients.

Campaigns & Communications

CRM Update:

You may have heard around the water cooler that earlier this year, RSM introduced a CRM platform, Microsoft Dynamics 365. This strategic move demonstrates RSM’s commitment to enhancing its customer relationships, streamlining operations and driving business growth through the power of CRM technology.

The design of the system was developed through a series of user workshops, involving representatives from all RSM divisions and a selection of clients. These workshops provided valuable input and insights, which were then incorporated into the system through a pilot testing phase involving participants from various divisions.

To ensure effective communication and updates during the launch process, RSM implemented regular communication channels such as emails, Teams messaging, myRSM FAQ and help hub, and a training playlist on OWL. These channels aimed to keep everyone informed and supported throughout the transition to the new CRM system.

The database has witnessed significant growth since the launch, with the number of contacts increasing from 5,539 to over 53,000.

The initial focus of the CRM implementation has been on establishing a clean and comprehensive database by importing data from various sources such as spreadsheets, Outlook, Introhive and events lists. This effort has provided RSM with valuable insights into existing clients and connections.

The adoption of Dynamics 365 CRM provides RSM with several key advantages. First and foremost, it allows for centralised data management, enabling a holistic view of client information and interactions across the business. Overall, the introduction of Dynamics 365 CRM marks an exciting milestone for RSM, to strengthen its market position, foster long-term client relationships and drive business growth in the dynamic and evolving professional services landscape.

Firm Stats Update:

As of 1 July our national stats stand as follows:

ƒ 131 Partners

ƒ 67 Principals

ƒ 1700+ staff

Our client presentation and graphics have been updated and can be found on myRSM here, and the ECM here.

Federal Budget 2023-24

The Federal Budget was handed down on 9 May 2023 with a team of tax and marketing specialists working around the clock to analyse the announcements and provide commentary on how they would impact businesses and individuals. A special report was delivered overnight to over 30,000 recipients. An Opposition reply as well as a summary version in Chinese were also developed and delivered that week. In total, the report had close to 1,500 downloads through our website. Paid campaigns were also run on Facebook, Reddit, YouTube and Google Ads to promote the report and webinar. Facilitated by Andrew Sykes, the webinar was held the following morning with finance commentator Effie Zahos, economists Craig Amos and David Pierce together with our experts Liam Telford and Katie Timms. The webinar was very well-attended with over 650 people logging in. There was also significant media coverage this year with over 120 hits in print and online publications. The results of the pre-Budget survey were also picked up by many media outlets. For more information, please click here

Campaigns & Communications

Health Services by RSM:

The Health Services by RSM team has been incredibly active, achieving remarkable milestones in recent months:

First and foremost, we extend our heartfelt thanks and best wishes to Peter Saccasan, who is embarking on a new chapter after 12 incredible years at RSM. You can watch his farewell video here. And a warm welcome to Jayesh Kapitan as our new National Lead.

In line with our commitment to staying at the forefront of industry trends, we are thrilled to introduce our new subsector: Life Sciences, led by the esteemed Dr. Rita Choueiri. Our new sub-sector page can be viewed here.

The team has been actively engaged in numerous industry events, including Business for Doctors, Sigma Pharmacy Summit, and GPCE. These events have provided valuable opportunities to connect, collaborate, and share insights with fellow healthcare professionals.

Our team has also been busy producing a wealth of articles and publications, showcasing our expertise and thought leadership in the field.

We developed collateral in multiple languages to encourage global businesses to consider Australia as their preferred destination for operations.

Our report on the 60-day Dispensing Policy garnered attention from various print and digital media outlets, including coverage on the prominent flat screens at Sydney Airport.

We launched our very first e-book, The Health Practitioner. This insightful publication has been well-received by our health clients and contacts, offering valuable industry insights. If you haven’t had the chance to explore it yet, we encourage you to download a copy and share it with your network. Looking ahead, expect to find more thought-provoking articles, compelling publications, and our active participation in upcoming events. Stay up-to-date by following our hashtag #HealthServicesbyRSM on LinkedIn.

Energy and Resources

Our team has been operating since 2022, more recently you would have seen a few more updates on LinkedIn from the Energy and Resources Sector. Our experts in the sector have been planning and preparing different digital and in-person activities including articles, video interviews that will soon reach our audiences as well as attending different events.

Our Energy and Resources team sponsored the Gala Dinner at the Australian Energy Week in Melbourne. This annual conference brings together the entire energy supply chain, including generators, networks, retailers, end users and government to help shape the energy transition.

At the conference we also had a booth and representatives from our different divisions were able to connect with 800+ senior executives and C-Level professionals from various organisations in the energy sector. Coming up! The Energy and Resources team will be attending events in Melbourne and Perth.

Office Updates

The Adelaide Team visited the Australian Cyber Collaboration Centre, where they had the chance to work in teams on a number of scenarios. The team were able to develop knowledge about risk and what they should do if something happened.

After the event, our team enjoyed a tasty treat of local wine and cheese.

Congratulations to Dustin Nguyen on receiving a CA Merit Award!

It was a pleasure to have the Chartered Accountants Australia and New Zealand team with Jen Clark and Julianne Westlake visiting the Adelaide office to recognise Dustin’s efforts.

We congratulate Andrew Fernance (RSM in Canberra) for receiving his 25 year CA award. Andrew’s continued excellence never goes unnoticed and we thank him for his hard work and diligence.

Brisbane Tax and RAS divisions held a joint client event at CAANZ around Tax Risk & Governance, which was well attended.

Steve Healey and Andy Graham from RSM in Brisbane attended the QLD Ballet Drive Day. From 1 July RSM have partnered with QLD Ballet as joint major sponsor, the other being Mercedes Benz.

This year RSM in Wagga Wagga were part of the Share the Dignity campaign. This is an important initiative where you assist by collecting essential items for homeless or disadvantaged women.

Frank Lo Pilato (Canberra - Partner) participated in Vinnies CEO Sleep Out. Frank raised $5,440 for Vinnies which is equivalent to: 17 Individual support programs, 45 Beds and 181 Meals.

You can continue to make a donation here

Simon Brown (Busselton - Principal) represented RSM at the Regional Tourism Conference in Kalgoorlie in May.

Engagements, Welcomes & Weddings

Stephanie McAuliffe (PerthPrincipal) and her husband Justin, welcome their second little girl to the world, Rory Louise.

We congratulate Chloe McKenzie (Busselton - Administration Assistant) on getting engaged to her partner who proposed in

Paulina Lyszcz (Canberra - Assistant Manager) got engaged to her partner Jamie Bryce earlier this month!

Congratulations

On Saturday, 13 May 2023, Hayley Milburn (Adelaide - Assistant Manager) tied the knot with her partner Matthew!

Fiona

-

and

were married on 21 April and then toured around Europe for a month on their honeymoon.

Well done to Sophie Harding (Melbourne - Manager) and her husband Josh on the safe arrival of their first baby, Paddy.

Cassie Fortunato (Melbourne - Manager) married her partner, Daniel on Saturday, 1 April 2023! No April Fools here! - their love is the real deal!

John Dowey (Perth - Senior Analyst) popped the question to his long time partner, Yasmin.

Congratulations Deepak Keshavamurthy (MelbournePrincipal) and his wife Gayathri on the safe arrival of their first baby, Vedant born on Thursday 20 April 2023.

to Charlie Evans (Perth - Senior Analyst) on proposing to his partner, Mikalya.

Paris in front of the Eiffel Tower!

Congratulations to Sandy Collins (Wagga Wagga - Accountant) on getting engaged to her partner, Jordan.

Brazier (Brisbane

Senior Manager)

her partner, Alex

Well done to Melanie Webb (BrisbaneManager) who got engaged in Japan to her long-time partner Ben!

Congratulations to Lauren Peci (Perth - Coordinator) on getting married in Italy to her partner!

ACKNOWLEDGEMENT OF COUNTRY WORKSHOP

The National Diversity Task Force (NDTF) continually looks for ways to foster inclusion, increase our awareness of the many cultures we work with and the communities we live in. As part of National Reconciliation Week (27 May – 3 June 2023), we recently held a workshop facilitated by Acknowledge This (www.acknowledgethis.com.au) delivered to our Partners and Principals in national leadership roles (Chief Executive Partner, Executive Partners, Office Managing Partners, National Heads, Sector Leaders, Corporate Services Leaders and members of the NDTF) on how to deliver genuine and authentic Acknowledgement of Country.

Acknowledgement of Country is important as it shows respect for our Traditional Owners as well as promoting reconciliation and affirming Traditional Owners ongoing connection to Australia’s land, history and culture. This practice also aims to foster ongoing conversation and demonstrate our good intentions, promoting reconciliation and creating a more inclusive and harmonious environment.

During the session, we gained a deeper understanding of Acknowledgement of Country, the purpose of each part and learnt ways to develop a personalised Acknowledgement of Country that could be adapted to acknowledge a shared history, people and place. We discovered that although acknowledgments can follow a formal script, genuine intentions will always lead to positive outcome. Moving forward, RSM will be integrating Acknowledgement of Country into external gatherings and some internal gatherings.

Let’s continue this conversation and embrace the opportunity to acknowledge country, keeping our good intentions at the forefront. Stay tuned for more initiatives in this space.

BRISBANE OFFICE CELEBRATES PRIDE MONTH

RSM supports an LGBTIQA+ inclusive culture and empowers our staff to be their authentic selves and also to honour the uniqueness that defines us.

As you know, June is Pride Month - an important time to support the LGBTIQA+ community, promote equality, and raise awareness about the challenges people can face. Although, Pride Month should not just be about celebrating for a single month but also about creating an inclusive and accepting environment throughout the year.

The Brisbane Office distributed RSM pins and also a note to staff in order to strive to create an inclusive and accepting culture where everyone feels valued and included.

Please see some snaps from our Brisbane Office.

CANBERRA GLIOBLASTOMA SUPPORT

RSM in Canberra orchestrated support for Glioblastoma Australia by organising a donation and competition for staff.

Melbourne Office Morning Tea St Jude Donation