In Sydney, Donna Arnold and Warrick Oakes have been promoted to partner, while David Prescott steps into the role in Perth. In addition, Troy Smith has been promoted to director in Adelaide. All four new appointees are Chartered Accountants, reflecting the Association’s commitment to technical excellence and professional standards.

These appointments follow a series of promotions in November, which saw the addition of three partners and six directors, underscoring the depth of talent within the Association.

Mark Muller, chair of the HLB Mann Judd Australasian Association, said the promotions reflect the strength of the firms and the calibre of their people.

“Our profession is evolving rapidly with increasing complexity across all practices. Demand for sophisticated tax advice, transaction support and innovation incentives is accelerating, making deep technical capability more critical than ever for our clients. These promotions highlight the areas where we see the greatest need – complex corporate and international tax, M&A and valuation expertise, business advisory and R&D-focused growth strategies.

“At the same time, we continue to embrace technological advancements while staying true to our core focus: people and clients.”

Donna Arnold brings over 15 years’ experience in tax advisory, including senior leadership roles at the Australian Taxation Office. She specialises in corporate and international tax. Donna holds a master’s in professional accounting and a bachelor of economics from the University of New South Wales.

Warrick Oakes has been with the Sydney firm’s corporate advisory division since 2016 and is a specialist in mergers and acquisitions. He works with Australian and international firms with a range of services including transaction due diligence, valuation services and strategic growth opportunities. He is an accredited advisor with Family Business Association.

David Prescott first joined HLB Mann Judd as a cadet in 2007 and spent nine years with the firm before moving to the UK. He returned to Perth in 2018 to re-join the firm’s business advisory services division. David has a particular focus on taxation advice and compliance, and holds a bachelor of commerce (accounting) from Curtin University.

Troy Smith is a research and development (R&D) tax specialist, supporting clients in strategic advisory, the R&D Tax Incentive, Early-Stage Innovation Company (ESIC) scheme, and other growth-focused initiatives. He joined the Adelaide firm in 2019 and is a member of R&D Tax Advisers Association . He holds a bachelor of commerce (accounting & management) from the University of Adelaide.

The promotions cap off a significant year for the Association, which expanded its network with a Newcastle-based audit and assurance business joining and the acquisition of a Perth advisory firm.

The HLB Mann Judd network now comprises 12 independent member firms located in major cities and regional business centres in Australia, New Zealand and Fiji, as well as one representative firm.

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With more than three decades of experience in audit and corporate advisory, Mark brings deep technical expertise and commercial insight to the role. For over 15 years he has led HLB Mann Judd Sydney’s Assurance and Advisory division, guiding clients through complex challenges and helping them seize opportunities for growth.

Mark has played a pivotal role in shaping the Association’s capabilities, steering the network’s technical capabilities and audit approach for over 10 years. He has led audits across significant infrastructure Public Private Partnerships and proponents, major construction subcontractors, a substantial Australian precious metal refiner, and numerous well-known charities, applying a purposeful and tailored audit approach. He championed innovation in the Sydney firm, expanding digital assurance and advisory offerings to meet the evolving needs of businesses.

“I am privileged to step into the role of chair and work alongside our member firms to strengthen the Association and lead it into its next phase of growth,” he said.

“Our profession is changing rapidly, and the challenges facing businesses are increasingly complex. My priority is to champion initiatives that drive innovation, raise the bar on quality, and create tangible value for our people and the clients who trust us to help them succeed.”

Mark succeeds current chair, Tony Fittler, who will continue as senior tax partner at HLB Mann Judd Sydney.

Tony Fittler has been a cornerstone of the firm since 1984, becoming partner in 1989, managing partner in 2006, and chair of the Association in 2010. Reflecting on his tenure, Tony said:

“It has been a privilege to serve as chair and to work alongside such a dedicated and talented team across our network. Seeing the Association grow has been incredibly rewarding, and I’m confident that under Mark’s leadership, we will continue to thrive, innovate, and deliver value to our people and clients”.

The HLB Mann Judd network comprises 12 independent member firms across Australia, New Zealand and Fiji, as well as one representative firm. Together we combine local knowledge with global reach to help our clients make their next best move.

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Alex Roberts has been appointed partner in audit and assurance, HLB Mann Judd Melbourne. Joining HLB in 2013 as a graduate auditor, Alex has worked across the private and public sectors with experience that includes external audit, financial reporting compliance, and specialist assurance engagements. Alex is a qualified Chartered Accountant and a Member of the Chartered Accountants Australia and New Zealand (CAANZ).

Alyce Stones has been appointed partner in audit and assurance, HLB Mann Judd Newcastle. A registered company auditor with 17 years of experience in audit and assurance services across mining, manufacturing, communications, construction, and the not-for-profit sector, Alyce delivers insights that improve financial performance and strengthen internal systems.

Jacob Medel has been appointed partner in audit and assurance, HLB Mann Judd Newcastle. With more than 12 years of experience in audit and assurance, he specialises in the not-for-profit, health, disability, and education sectors, and has led the development of audit methodology around the NDIS, Primary Health Networks, Government funded programs and schools.

Nilan Gandhi has been promoted to director of HLB Mann Judd Brisbane, in the business advisory and taxation team. Nilan has over 12 years’ experience providing accounting, tax, and business advisory services to corporates, SMEs, high-net wealth individuals, and private family groups. More recently, he has been reviewing taxation implications of large commercial property transactions, reviewing organisational tax efficiencies within established structures, and assisting multinational clients to establish a presence nationally and abroad. Nilan is a Member of the Chartered Accountants Australia and New Zealand (CAANZ).

Steve Windsor has recently joined HLB Mann Judd’s Perth business advisory services division as a director in August 2025. His career spans 25 years of taxation, international corporate services, and business advisory. He spent eight years at the UK’s Inland Revenue before moving to International Corporate Services on the Isle of Man for 12 years, advising international clients. He is a Fellow Member of the Association of Chartered Certified Accountants (FCCA).

Anna Janssen has been promoted to director of advisory services, HLB Mann Judd Newcastle. An audit and compliance professional with more than 20 years of experience, she provides strong technical expertise in accounting standards, financial reporting, corporate compliance and payroll.

Natalie Dobinson has been promoted to director of audit and assurance, HLB Mann Judd Newcastle. Natalie has 25 years of experience in audit and assurance, with specialist expertise in the not-for-profit sector. She has managed the provision of services to a wide range of NFP clients, with a particular focus on health care, membership-based organisations, and charities.

Trent Boncompagni has been promoted to associate at HLB Mann Judd Wollongong, in the business advisory and taxation team. Trent joined HLB in 2012 and focuses primarily on SME businesses, working with clients across a wide range of industries including building and property development, and the hospitality and fitness industries. He advises on issues including structuring, GST and income tax, and capital gains tax. Trent is a Member of the Institute of Chartered Accountants Australia and New Zealand (CAANZ).

These appointments follow the recent acquisition by HLB Mann Judd Perth of local business advisory firm, A Plus Business Advisors, growing its current business advisory division in Western Australia to more than 30 members, putting it squarely amongst the top 10 accounting firms.

The acquisition will see two director appointments by HLB Mann Judd Perth.

Garry Anderson has been promoted to director of HLB Mann Judd Perth in the business advisory division. He was previously director and owner of A Plus Business Advisors.

Maka Sikazwe has also been promoted to director of HLB Mann Judd Perth, also in the business advisory division. He was previously associate director at A Plus Business Advisors.

Rowan Tracey, Head of Business Advisory, HLB Mann Judd Perth, said the acquisition builds on firm’s current growth and brings a highly experienced team with shared common values and client service philosophy.

“This growth gives us additional depth across several key areas and ensures we continue to offer tailored, practical advice to help our clients navigate the road ahead,” Mr Tracey said.

HLB Mann Judd Australasian Association chair, Tony Fittler, said the latest moves reflect the strength of the HLB Mann Judd network.

“These new appointments and the Perth acquisition reflect the depth of talent within our network, and our ongoing commitment to investing in the next generation of leaders. As we continue to grow, our focus remains on delivering exceptional outcomes for clients and providing meaningful career opportunities for our people.”

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Kapil Kukreja

As Cyber Security Awareness Month focuses on the growing threat of cybercrime, HLB Mann Judd Melbourne partner, Kapil Kukreja, is urging Australian businesses to take a proactive approach to managing cyber risks and protecting their data.

Although the impact of cybercrime in the news is often focused on large high-profile companies – such as Qantas in recent times and Optus and Medibank before that – the fact is that businesses of any size can be impacted, he said.

“Cybercrime continues to rise in both frequency and sophistication, and no business is immune,” said Mr Kukreja.

“For many businesses, the question is no longer if they will face a cyber incident, but when.”

He said that while technology plays a critical role in defence, the biggest vulnerabilities often come down to people and processes.

“Human error remains one of the most common causes of data breaches, whether from clicking on phishing links, to mishandling sensitive information. Building a culture of awareness and accountability across all levels of an organisation is just as important as investing in security systems,” Mr Kukreja said.

According to the Australian Cyber Security Centre’s (ACSC) Annual Cyber Threat Report, the ACSC received over 84,700 cybercrime reports through its ReportCyber portal, although it noted that many more go unreported.

The average self-reported cost of cybercrime per report was ~$33,000 per individual (up 8 per cent on last year), and ~$80,850 for businesses (up 50 per cent on last year) – with large businesses reporting a cost of ~$202,700, up 219 per cent on the last year.

This is echoed by the HLB International Cybersecurity Report 2024, which flagged that 39 per cent of businesses reported a rise in the number of attacks, with a further 29 per cent experiencing more severe consequences from cyberattacks in the past year.

Further, many businesses still underinvest in security measures with only 29 per cent implementing AI-related security and governance controls.

Mr Kukreja noted that the cost of a breach goes far beyond immediate remediation, noting the recent Qantas case.

“There’s business disruption, regulatory scrutiny, customer-trust erosion, legal exposure, not to mention potentially lasting reputational damage. In the Qantas case, the scale and depth of the breach will likely have long-lasting effects.”

Mr Kukreja recommends that businesses take several key steps to strengthen their cyber resilience:

• Ensure the business has a defensible architecture. For example, zero trust principles (never trust always verify), strong authentication such as multi-factor authentication (MFA), and least-privilege access, granting users and systems only the minimum permissions necessary for their roles
• Build your supply-chain and supplier risk strategy. Map out your supply chain network to identify critical third parties and evaluate their cyber hygiene. Third parties may be weaker links
• Invest in identity and access controls. Regularly review accounts for inactive users and immediately revoke access for former employees or contractors.
• Train staff not just once, but as part of an ongoing training program given increasing sophistication. Focus on emerging threats, like GenAI-driven phishing, deep fake emails, and sophisticated impersonation attempts.
• Review and modernise your technology stack. Identify legacy systems that may have known vulnerabilities and update or replace with modern and supported platforms.
• Monitor regulatory or national-security developments. Stay informed of changes to cybersecurity regulations, incident reporting laws, privacy obligations, and government-issues advisories.

“Cybersecurity is no longer an IT issue, it’s a business responsibility, and a shared responsibility. Businesses must protect their people, systems, and customers. That means modernising technology, strengthening access controls, continual staff training, and keeping a close eye on emerging threats.

“The reality is clear – cyber risks are growing and businesses that prepare today are the businesses that will thrive tomorrow,” said Mr Kukreja.

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Tony Fittler

The HLB Mann Judd Australasian Association has expanded with the addition of two new offices, strengthening its audit and corporate advisory practice in Lismore in New South Wales and Robina in Queensland.

The new office locations reflect the rebrand and restructure of the former Audit & Assurance Division of Thomas Noble & Russell (TNR), and will be led by three experienced partners: Adam Bradfield, Richard Watkinson and Kevin Franey.

The new member firm brings the HLB Mann Judd network to 10 independent member firms located in major cities and regional business centres in Australia, New Zealand and Fiji, as well as 2 representative firms.

Tony Fittler, chair of the HLB Mann Judd Australasian Association, said: “The deep experience of Adam, Richard and Kevin in audit and corporate advisory offers a diversified skill set for clients in a number of areas, including the government, co-operative and not for profit sectors as well as large private companies including ASX listed groups and foreign-owned corporations.  This aligns perfectly with our commitment to providing exceptional client service and technical excellence.

“All three partners display an excellent cultural fit and alignment of values with the HLB Mann Judd network. Their strong focus on delivering exceptional client service and their commitment to technical excellence will further enhance the Association’s reputation as a leading provider of audit and corporate advisory services in the Australasian region.

“They have been a part of the Association and key contributors to the network for over 15 years as an affiliated member and we welcome their addition as a full member specialist audit and corporate advisory practice,” said Mr Fittler.

Mr Bradfield added: “Strategically we’ve been considering our market presence for some time and it made sense to rebrand and restructure to a well-respected mid-tier practice where we were already part of the family.

“We believe the timing is right to expand within the Association so we can continue to invest in innovation and technology to support our clients’ needs and that of our 25 full-time specialist auditors.”

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Marcus Ohm

The Australian IPO market has continued its rebound from the COVID-induced slump in the first half of last year, with a particularly strong start to the year that saw 61 companies listing on the Australian Securities Exchange, according to the latest HLB Mann Judd IPO Watch Australia Mid-Year Report.

This compares to just 12 listings in the same period in 2020, and 74 listings for the whole of 2020.

The report analyses IPO activity over the first six months of the year on a number of key metrics, including listing volumes, share price performance, subscription rates and sector spread, as well as a review of the pipeline for the remainder of 2021.

According to the report, this year’s strong performance is particularly evident in terms of total amounts raised.

“Overall, $2.9 billion has been raised by new market entrants in the first six months of 2021, compared to only $132 million in the first half of 2020,” says Marcus Ohm, partner at HLB Mann Judd Perth and author of the report.

“This increase in total funds raised was driven by the 13 large cap^[1] IPOs coming to the market so far in 2021, compared to just one in the first half of 2020.

“However the small cap end of the market was also very active, with 48 new entrants (compared 43 for the whole of 2020) who raised a total of $462 million.  The main contributor to this activity was the Materials sector which had 26 new small cap listings, compared to only three in the same period in 2020.

“Interestingly, while Materials listings are normally small caps, a total of five of the 13 large cap IPOs in 2021 were from the Materials sector.  Both gold and copper projects were well represented, with 20 new entrants holding gold projects and 5 holding copper projects.

“In total, the Materials sector accounted for 51 percent of all IPOs so far this year, and raised $648.8 million,” Mr Ohm said.

Overall, there was a diverse range of sectors represented by IPOs in the first half of 2021, which again compares favourably with the same period last year.  A total of 17 sectors were represented compared to six in the same period of 2021.

Outside of the Materials sector, the strongest contributors to total funds raised were listings within the Banks sector and the Health Care Equipment & Services sector.

Mr Ohm said the market was generally favourable towards IPOs in the first half of 2021.

“IPO activity was driven by favourable macroeconomic and capital market conditions, combined with strong investor sentiment which reflected the strength of the market as a whole.

“Compared to the wider market, however, IPO performance has been more subdued with a six percent average gain for all listings in the first half of the year, as opposed to an ASX All Ordinaries Index gain of 11 percent.  Despite this, there were still many strong individual performers, with 26 percent of new listings recording a gain of 20 percent or more by period end.

“Looking ahead, the pipeline at the end of June 2021 was healthy with 42 proposed listings seeking to raise a combined $1.25 billion.  This compares to just a single proposed listing at the end of June 2020, and seven at the end of June 2019.

“There continues to be a wide range of companies planning to list, with nine industry sectors represented.  Exploration and mining companies are set to be the strongest contributors, with 27 listings looking to raise a total of $707.4 million.  As seen in the first half of the year, companies holding gold and copper projects are the primary drivers of IPO activity in the Materials sector,” Mr Ohm said.

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[1] Large cap companies are defined as those with a market capitalisation in excess of $100 million. Small cap, companies are defined as those with a market capitalisation of $100 million or less. All data excludes property trusts.

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