Hints and tips:
Related Special Reports
...PwC departed from the industry’s historic model of having tax as a standalone business unit in 2021, when Ryan split the almost 1,000 US tax partners between the firm’s accounting and consulting arms....
...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...
...that has been fast expanding beyond traditional tax and accounting into consulting services....
...EY and Apas declined to comment....
...From customer service chatbots to data migration and overhauling research and development in healthcare, Schweizer said BCG is helping companies use AI to cut costs and increase productivity....
...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...
...Should the professional service firm be sentenced to pay damages to Wirecard shareholders, it could shift its existing audit business into the new entity and declare the old one insolvent, he warned....
...“It is a global issue and something the accounting profession as a whole needs to look in the mirror and take note of how this behaviour could develop.”...
...In February, US accounting firm Baker Tilly agreed to sell a majority stake to Hellman & Friedman and Valea. There are European examples too....
...The approach underlines private equity interest in the sector and comes after several firms made investments in professional services businesses in the US and Europe....
...Bezalel Smotrich, the ultranationalist finance minister, called the US decision “absolute madness”....
...accounting” and describing its listing as being “eerily similar” to that of bankrupt company WeWork....
...It cited “significant concerns regarding potential alleged deficiencies” in PwC’s systems of quality management and the quality of its audit work for Evergrande, the Chinese territory’s Accounting and Financial...
...Wirecard’s administrator and former investors are suing the firm for billions of euros in damages, and Munich prosecutors have launched an investigation against several current and former EY partners over...
...The comments came after ministers last year delayed legislation to set up the Audit, Reporting and Governance Authority (Arga), a new, more powerful accounting and boardroom regulator....
...ADM said late on Sunday it had launched a probe into accounting practices and procedures in the nutrition business after a request for documents from the US Securities and Exchange Commission....
...Partners and executives could make recommendations in 16 sectors and for 14 consulting services, and could recommend consulting networks....
...Ismael Roig, a longtime executive, was appointed interim finance chief....
...The sharp decline in attrition is a phenomenon across professional services firms and around the world, compounding the effect of a slowdown from the post-pandemic boom in advisory work on digital services...
...The admissions come as the Public Company Accounting Oversight Board urges companies and investors to pay greater attention to the findings of its annual inspections of audit firms, the latest round of which...
...In this sense, a receivables and payables scheme is an odd stunt, even for bonus-hungry executives. As cold and unyielding as accounting may be, human psychology remains truly mysterious....
...in areas such as payroll and compliance services....
...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....
...like accounting, management consulting and legal advice....
...But, as with all things in financial services, the hand that giveth is the hand that takes away....
International Edition