There is a serious risk that COP26 will create unrealistic expectations about what is possible on the road to net zero carbon emissions, while ignoring the real-world progress we are making towards a more sustainable economic future.

Spare a thought for Nikola Tesla. The Serbian/American scientific genius and rival of Thomas Edison, whose inventions continue to define how we use electricity today, died an impoverished and relatively unknown figure in a New York hotel during the second world war.

With increased emphasis on corporate social responsibility and digitalisation, companies within the Energy, Mining and Renewables industry are expected to be acutely aware of the trends that are impacting their industry. Our global leaders have outlined the 5 trends they expect to see emerge over the next 12 months and into 2021.

Few industries need and produce richer, greater volumes of data than oil and gas: terabytes of the stuff from the geological exploration and appraisal process; the complex modelling and measurement applied to daily onshore and offshore active operations;  the electronic brains behind the delivery of cargoes, coordinating the thousands of tankers and pipelines taking the raw product from field to refinery; and then, of course, the digital monitoring and sensors needed to support the refining and processing of the crude and gas into petroleum and LNG.

ASIC recently announced that right-of-use assets are intangible for the purpose of calculating net tangible assets (NTA) requirements for AFS licensees.
 

It gives us great pleasure to announce the appointment of Michelle Shafizadeh, previously Assistant Auditor General - Technical and Audit Quality, as a new assurance Partner, joining the leadership team within our Perth office effective 20 January 2020.

Amidst the current challenges of the global economy, the mining sector has a sense of optimism.  Demand has been supportive of gold and iron ore prices, and minerals used for batteries will remain in focus, not least due to the ongoing growth in the electric vehicle markets.  Long term fundamentals underpin future demand.
Alongside a favourable outlook for mining demand, the cost side of the sector is being impacted by the application of technology – enhancing margins and reimagining processes which in some cases have endured for decades.

More good news relating to the reduction of “Red Tape”!  If your revenue is under $50m, your assets are less than $25m or you have less than 100 employees then read on...
 

While technology presents countless efficiencies in business, it also brings with it a variety of risk. With exponential growth and innovation in this space, regulation and risk management are working tirelessly to keep up.