The Full Audit
The Queue
It promised to disrupt accounting, which accountants are paid not to do. There was a bell, a PlayStation, and $57,000 a day in losses, weekends included. The chairman lent $38 million and took ticket one. On Thursday the clients were told nothing was changing. On Friday, the administrators. A dollar down. Please wait to be called.
“Much of what’s now known about Retinue comes from Ryan Tan’s reporting.”The Firm, read by 32,000 accountants
“A riveting accounting deep dive.”Harvest Accounting, Xero Partner of the Year, Singapore 2025

TPG's Game of Phones
The back channels of Sydney’s upper echelons, open for one afternoon.
Ryan Tan|08 Nov, 2026
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Ten Cents
The only consulting fee in Australian history the consultant paid for.
Ryan Tan|06 Nov, 2026
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Borrowed Air
Nothing left to sell. $2.1 billion due. Naturally, a bigger dividend.
Ryan Tan|04 Nov, 2026
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Fair Incentive
Award winning customer support, please hold.
Ryan Tan|01 Nov, 2026
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Mondays and Wednesdays
Three times the pay, once. Now fruit and nuts, twice a week.
Ryan Tan|29 Oct, 2026
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A Dollar Down
Drive away today. Administrators tomorrow. Instalments until 2028.
Ryan Tan|28 Oct, 2026
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The Observable Price
Lawpath built a single source of truth. ASIC has the other one.
Ryan Tan|26 Oct, 2026
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Page 20, Read
Staff score: nil. Bonus: 133%. Next year’s grant: triple. Bingo.
Ryan Tan|23 Oct, 2026
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Exit Interview
Two hosts kept the microphone. Somebody else paid for it.
Ryan Tan|19 Oct, 2026
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Pawning the Silver
Sold as a challenger in 2020. Run since like a pawnshop.
Ryan Tan|16 Oct, 2026
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Restraint
Sold, with a promise not to compete. Allegedly. Then came Retinue.
Ryan Tan|14 Oct, 2026
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A Merger of Equals
Same price, give or take $30 million. One earns half as much again.
Ryan Tan|12 Oct, 2026
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Quo Vadis
He counsels the UN on governance. At home, both sides of the cheque.
Ryan Tan|07 Oct, 2026
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Growth, Unaudited
A third voted against the pay report. The board abolished the committee. Problem solved.
Ryan Tan|05 Oct, 2026
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Possession Taken
Four accounts of why the cream puff window closed. None mentions the lease that expired in 2005.
Ryan Tan|02 Oct, 2026
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First in Line
The chairman lent $38 million, secured it a day before the water rose, and took ticket one. Punctuality is a virtue.
Ryan Tan|30 Sep, 2026
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The Observer's Chair
Lawpath's largest shareholder feels unappreciated. He has begun selling. The Mediterranean awaits.
Ryan Tan|28 Sep, 2026
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A Going Concern
$2.87 on marketing per dollar of revenue. Seven dollars lost per dollar earned. Mum paid. Then it left.
Ryan Tan|26 Sep, 2026
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Cost of Sales
Australia's fastest-growing accounting firm. $38.9 million lost, not one gross profit. Sold for a dollar upfront.
Ryan Tan|25 Sep, 2026
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Nobody Answered the Door
Swoop took a headcount the day before results. Thirty-three thousand moose were unavailable for comment.
Ryan Tan|24 Sep, 2026
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