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...BDO last year took an alternative approach, opting to convert to an employee-owned corporation, funded by private debt....
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...Marc Filippino Stephen Foley is the FT’s US accounting editor. Thanks, Stephen. Stephen Foley Thank you very much....
...Over the past 16 years, big buyout groups such as Blackstone, KKR, Apollo and TPG have transformed from clubby partnerships into publicly traded corporations with large public market valuations....
...Most of the audits that the SEC said were flawed were conducted by Deloitte US for multinational corporations with operations in China....
...Attention now turns to how Sternfels will respond to complaints that he has concentrated decision-making in too few hands and has run McKinsey more like a corporation than the collegial partnership of old...
...Brian Becker, managing partner at RSM US, said the firm had ruled out becoming an employee-owned corporation, like BDO, or taking an investment from private equity, as other US accounting firms have done...
...The restructuring, codenamed Project Magnolia, was designed to protect partner profits at the 45,000-person firm, but some felt it was mishandled by an organisation whose stock in trade is advising corporations...
...Stephen Foley is the FT’s US accounting editor....
...By contrast, a corporation is taxed directly on its profits, at rates that were substantially lowered by then-president Donald Trump....
...Stephen Foley is the US accounting editor....
...Unlike traditional corporations, EY is structured as a network of locally-owned partnerships, giving country leaders considerable influence — particularly in the US, which accounts for 40 per cent of global...
...It has also trained doctors and provided equipment to hospitals to ensure that late-stage patients can get quality care close to home....
...And another scoop to start: The chief executive of BCG said the $12bn consulting firm expects to generate a fifth of its revenues in 2024 from helping corporations integrate artificial intelligence into...
...Hospital waiting lists are too long, courts are backlogged and police forces are stretched. Future spending demands are rising too....
...Medical care was driven by strongly rising prices for hospital services (up 1.2 per cent in March), likely reflecting big recent wage increases at major hospital systems....
Shareholder groups say country-level disclosures could reveal risky strategies to avoid higher payments
...In recent decades, buyout groups such as Blackstone, KKR, Apollo and TPG have transformed from clubby partnerships into publicly traded corporations with large public market valuations....
...Gloucestershire Hospitals NHS Foundation Trust said it had temporarily closed the accident and emergency department at Cheltenham hospital as a result of the walkout....
...A nurse at a state-owned hospital in Inner Mongolia said the local government had instructed hospital staff to cease using iPhones at the end of August, citing iOS’s “huge security risks”....
...Earlier this month she added corporation tax to the list too, ruling out raising the levy from its current rate of 25 per cent....
...You see, EY is structured as a partnership rather than a corporation. So Di Sibio couldn’t just make a decree, and then that was it....
...In just one illustration of the bottlenecks in a country of 5.3mn people, nearly 10 per cent of adults on hospital waiting lists have been waiting for more than 18 months....
...Closs Stephens points out that the corporation’s errors are often magnified....
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