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...Grant Thornton’s retired US partners are demanding a greater share of the spoils from its sale of a majority stake to private equity, after accusing the accounting firm’s management of short-changing them...
...into consulting services....
...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
...H&F’s investment also underscores the growing interest of private equity in professional services firms, and represents a return to large-scale dealmaking in the US accounting sector after a hiatus caused...
...The US audit regulator set up in the wake of Enron’s collapse two decades ago has set a record for fines in a single year, after a flurry of enforcement actions against accounting firms including PwC, Deloitte...
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
...services as well....
Policies come as Beijing increases control over international financial hub
...It would have also been likely to have to do some work on translating its figures from their US accounting basis....
...The debt deal with Apollo marks one of the largest deployments of private capital into professional services and will be closely watched by the rest of the accounting sector, which has typically shied away...
...Private equity has been attracted to accounting firms by the combination of steady income from tax and audit work and the opportunity to expand into new services such as consulting....
...Deloitte has the most racially diverse workforce of the Big Four accounting firms in the US, an analysis of diversity and inclusion reports shows, following a hiring spree that swelled its employee numbers...
...Deloitte is set to axe 100 more jobs in the UK as a prolonged slowdown in deals activity hits demand for some of its services....
...In his ruling, Castel said that Apollo’s accounting department “deserve[d] significant blame” for the harm done to fund investors but still ruled that Rashid had violated US securities law on investment...
...The Big Four accounting and consulting firm first launched the internal tool, called “PairD”, in the UK in October, in the latest sign of professional services firms rushing to adopt AI....
...Such accounting changes were “probably something that will continue”, he added....
...When Big Four accounting firm EY tried out an artificial intelligence system trained at recognising fraud on the accounts of some of its UK audit clients earlier this year, the results were striking....
...Deloitte is set to cut hundreds of jobs in the UK as the Big Four professional services group contends with slowing demand from clients cutting their spending on advisory services in a tougher economic environment...
...Houston said the firm’s financial services, energy and resources, and public sector teams had all experienced “significant demand”....
...The bulk of Arm’s total — around $51mn — went on accounting fees, particularly to auditor Deloitte....
...Job moves EY has appointed Janet Truncale, the head of its financial services business in the Americas, to be its next global chief executive, putting a woman in charge of a Big Four accounting firm for...
...PayPal has named Jamie Miller as chief financial officer, snapping up the veteran finance executive after she left the Big Four accounting firm EY in June....
...can remain invested in disruptive innovation in a compounded fashion, without being taxed, for potentially two more years or longer,” said an Ark research note by director of financial reporting and fund accounting...
...Although accounting for only 11 per cent of Alphabet’s revenues, and despite better than expected results from the company’s advertising business, the cloud results were enough to dent Alphabet’s stock after...
...PwC tipped off Google on the timing of a controversial Australian tax law, based on inside information gleaned by one of the accounting firm’s partners, it has been revealed....
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