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Former US partners hire lawyers in fight for bigger share of the proceeds from New Mountain deal
Accounting firm recently agreed to sell a majority stake to New Mountain Capital
...private equity group Hellman & Friedman to fund an acquisition spree, and is likely to further intensify competition in a sector that has been fast expanding beyond traditional tax and accounting into consulting...
...“We have been consulting on announcing our investigations, on a case-by-case basis, where it is in the public interest to do so,” the watchdog said....
Hellman & Friedman-led deal is largest in a sector reconsidering its partnership model
...While spinning out divisions into separate entities frees them from conflict of interest restrictions within the Big Four audit and consulting firms, some partners are sceptical of the benefits when weighed...
...The firm’s largest business, consulting, continued to be its fastest growing, posting revenues up 19.1 per cent in local currency, to $29.6bn....
...Board members complained they were being kept in the dark about the “magic circle” law firm’s investigation, according to new information disclosed to the Financial Times....
PCAOB imposes total penalties nearing $12mn against PwC, Deloitte, KPMG and others
Move comes after accountancy firm abandoned traditional partnership model
...That deal involves selling Atos’s lossmaking IT consulting unit to Křetínský, who has also agreed to inject cash into the rebranded faster-growing supercomputing and cyber security division Eviden via a...
...Anthony Caterino, another veteran partner from the US business, and Harsha Basnayake, at present deputy leader of the Asia-Pacific region, round out the inner circle....
...“Tax and audit work is being replaced by technology and the lowest price is winning, hence the transformation to consulting and advisory services....
...is stepping down as a senior adviser at public relations firm Teneo, will begin the role at the start of May, adding to a portfolio that includes advisory roles at US bank Citigroup and British “magic circle...
...In October, the Financial Times reported that Deloitte was planning to axe about 150 junior consulting roles as part of its initial redundancy round....
...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....
...The regulator has caused increasing irritation in government circles, amid fears the City is losing ground to rival financial centres such as New York....
...The concept of a green interest rate, which has been floating around in think-tank circles for a few years, is that a central bank sets a “green” rate that is lower than the benchmark rate, for certain loans...
Big Four firm says suspicious activity quickly spotted but industry disagrees about relying on the new technology
...Despite the glitches at its launch, Gemini ended up being well received in tech circles as a worthy rival to OpenAI’s latest technology and as a much-needed, unified platform on which Google’s various services...
...One recent study by researchers from Columbia University, the University of Houston and the Brattle Group consulting firm quantified the shortfall....
The least-loved slice of the financial information business
...Under Nygaard-Andersen, Entain has also leaned heavily on advice from management consultants including Boston Consulting Group, Deloitte and PwC....
...Some of the world’s biggest audit and consulting firms are asking staff to use burner phones when they visit Hong Kong, a sign of the increasing difficulties global companies are facing in a city long known...
...Consulting work slowed in the past year after enjoying bumper growth in 2021 and early 2022 when companies were seeking advice on how to deal with challenges linked to the Covid-19 pandemic....
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