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...Advocates say private equity can bring more efficiency to the profession and access to capital for critical investment, but the financial terms of such deals can prove controversial....
...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...
...Its notable deals include the advertising agency Young and Rubicam in 1996 and the wealth manager LPL Financial and business advisory group AlixPartners about a decade later....
...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...
...Internal reviews of audit work failed to spot poor quality work, such as not properly checking certain financial transactions, according to the settlement....
...Deloitte’s financial advisory practice increased revenues just 4.7 per cent in local currency terms to $5.1bn, a sharp slowdown from more than 20 per cent the previous year....
...Still, the requirement by some companies that staff take separate devices sits uneasily with Hong Kong’s recent attempts to burnish its credentials as a global financial centre....
...In the US, just over one in three women work in the computer services sector compared with 50.3 of women in management consulting services, 65.9 in legal services and 55.6 per cent in financial services....
...Berson told the Financial Times last year that BDO had also considered taking a private equity investment, but decided against it....
...Google would not comment on financial discussions....
...The deal is expected to complete in the spring subject to approval by the Financial Conduct Authority. The terms of the sale were not disclosed....
...EY’s global consulting business....
...In October, the Financial Times reported that Deloitte was planning to axe about 150 junior consulting roles as part of its initial redundancy round....
...And the government made lots of hay on it at the trial. There are two schools of thought. Everybody agrees that bigger is better. The question is whether it levels off at a certain point....
...One issue, Stephens said, was that a company might regard its detailed financial data as proprietary information....
...One bright spot is that the market for financial news is less concentrated than the broader financial-information industry, judging by Burton Taylor’s estimates (which it derives from talking with the mostly...
...Deloitte would mainly target jobs in its consulting, financial advisory and risk advisory businesses as well as a small number of roles in its audit and assurance and a cross-sector Enabling Functions advisory...
...Revenue in consulting grew 16 per cent, to £1.6bn. Houston said the firm’s financial services, energy and resources, and public sector teams had all experienced “significant demand”....
...One person close to Arm said its costs were inflated by the need to convert its financial statements from international to US accounting standards....
...Auditors have a vital role to play in checking the veracity of companies’ financial disclosures....
...EY has hired crisis adviser David Gold to conduct a review of the failed attempt to split its audit and consulting businesses....
...It signals the onset of tighter scrutiny of the accounting and consulting sector and rising uncertainty over the future of Deloitte, PwC, KPMG and EY in China....
...for financial and accounting matters, and applying analytical and other review procedures....
...The other new appointments are Rob Cullen, who takes over the consulting division; Charindra Pathiwille, who will lead the financial advisory service line; and Cindy Chan, who will take over the risk advisory...
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