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...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...
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...Grant Thornton is the seventh-largest US accounting firm by revenue and the deal with New Mountain represents the largest private equity investment in the accounting profession, coming hot on the heels of...
...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 US audit regulator set up in the wake of Enron’s collapse two decades ago has set a record for fines in a single year, after a flurry of enforcement actions against accounting firms including PwC, Deloitte...
...The deal was one of several recent examples of private equity firms investing in the professional services industry....
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Policies come as Beijing increases control over international financial hub
...About 42 per cent of the US population suffers from obesity, according to the Centers for Disease Control and Prevention, costing the country almost $173bn a year....
...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....
...Instead, only about 5,600 patients had been approved for treatment by early April, according to a registry by the Centers for Medicare & Medicaid Services shared with the Financial Times....
...“I would characterise them as technical violations,” said Dennis McGowan, vice-president of the Center for Audit Quality, which represents large US accounting firms....
...Todd H Baker is a senior fellow at Richman Center for Business, Law and Public Policy at Columbia Business School and Columbia Law School Loan accounting in a bank should be straightforward, delivering...
...Deloitte is set to axe 100 more jobs in the UK as a prolonged slowdown in deals activity hits demand for some of its services....
...In his ruling, Castel said that Apollo’s accounting department “deserve[d] significant blame” for the harm done to fund investors but still ruled that Rashid had violated US securities law on investment...
...for Medicare and Medicaid Services (CMS)....
...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....
...like accounting, management consulting and legal advice....
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...The Centers for Medicare & Medicaid Services said last month that Medicare Part D drug benefit plans will cover weight loss medicines when they are approved to treat a separate medical problem, such as heart...
...Such accounting changes were “probably something that will continue”, he added....
...Anyone waiting for Boeing shares to recover their premium valuation had better be patient. One good read Reading old, busted-up scrolls with AI....
...Pilot, which also operates the Flying J brand, sells fuel, food and merchandise to truckers and provides showers among other services....
...When Big Four accounting firm EY tried out an artificial intelligence system trained at recognising fraud on the accounts of some of its UK audit clients earlier this year, the results were striking....
...That demonstrates the advantages of patient, committed ownership. vanessa.houlder@ft.com...
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