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...EY, which pursued its own plan to spin off its consulting arm, feared ceding a first-mover advantage to PwC....
...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....
...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 decision highlights how Britain’s professional services industry is grappling with tighter rules concerning the hiring of overseas workers....
...The UK consulting market will fail to grow this year for the first time since 2020, according to a new report, which includes input from the Big Four....
...While some of H2O’s funds have previously received warnings from KPMG due to their investments in illiquid assets, this is the first time the investment firm itself has received an adverse opinion from its...
...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....
...services industry has swung to historic lows....
...“We are in a new era of realising that these partnerships have attractive alternatives,” said Peter Munzig, a partner at TPG, one of the most active dealmakers in professional services....
...It follows a broader trend in professional services....
...For now, at least, people remain pre-eminent in professional services firms. Private equity’s interest is not the only change challenging the partnership ethos....
...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...
...DeHeng Law Offices established its first south-east Asian office in Laos last year to provide legal services linked to the Belt and Road Initiative, China’s $1tn global international infrastructure investment...
...Reviewers found multiple instances of the firm failing to meet professional standards in its audit work....
...The CPS entered into its first-ever DPA last year with the gambling company Entain, forcing the UK-listed entity to pay £615mn for failing to prevent bribery....
...With cheating continuing to be discovered years after it was first called out, Williams said the PCAOB had launched a “culture review” of some auditors to discover whether a poor tone at the top was contributing...
...The UK business of professional services firm KPMG revealed this in a groundbreaking analysis of the career paths of 16,500 of its partners and employees it published just over a year ago....
...PwC’s Middle East operation, which forms part of its UK business, is poised to play a key role in electing the next leader of one of Britain’s largest professional services firms....
...KPMG’s partners have voted “overwhelmingly” to extend Jon Holt’s tenure as UK chief executive after a tumultuous first term that was dominated by his attempts to repair the Big Four firm’s reputation following...
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...Sternfels failed to clinch a second three-year term on the first round of voting for global managing partner after more than half of McKinsey’s 750 senior partners selected other candidates as their first...
...The case marked the first time a refusal to authorise an individual was returned from an appeals body to the CBI for “reconsideration”....
...PwC now pairs new joiners with senior associates for the first three to six months and provides coaching....
...James O’Dowd, founder and managing partner of Patrick Morgan, a recruitment firm, says consultancies are “still in a bit of a sticky situation” and there will be more redundancies to come during the first...
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