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We examine how senior in-house lawyers are adapting to new business needs in a monthly series. This time: ethical dilemmas
...Griggs said that having tax under one umbrella reflected how clients bought services from PwC....
...Wirecard’s administrator and former shareholders have accused EY of failing in its professional duties, and have filed lawsuits claiming billions of euros in compensation....
...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....
...“Professional fees” — which include Project Everest work done by EY’s national member firms as well as money paid to external advisers — jumped to $1.5bn from $857mn....
...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....
...The retirees’ decision to hire lawyers represents an escalation of the fight, even though individuals on both sides continue to describe talks as “productive” or “professional”....
...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 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....
...EY made “grave” and “repeated” violations of professional duties in its audits of defunct payments firm Wirecard, Germany’s audit watchdog Apas concluded on Friday....
...Before the recent rise in interest rates, this mostly involved gawking at the erosion of lender protections in bond contracts and having fun with credit default swaps....
...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...
...Richard Moorhead, a professor of law and professional ethics at the University of Exeter, says matters should be reported “up the ladder” and that general counsel need to act as a “moral compass” within...
...Home Depot has struck one of its biggest-ever deals to acquire speciality building products supplier SRS Distribution in a move that could boost its faster-growing professional services business....
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...Put another way, banks have been able to claw back just over half of the $20bn that shifted in favour of private credit firms in 2023. So, have we reached peak private credit?...
...“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....
...Now the problem is customer complaints about its subprime credit card business, via the Financial Ombudsman Service....
...It follows a broader trend in professional services....
Meet Ben F orgers (we wish we were making this up)
...) among all awarded companies in each sector and service area received a gold rating...
...But, as with all things in financial services, the hand that giveth is the hand that takes away....
...Apas, the watchdog, last year concluded that EY violated its professional duties “during the audits of Wirecard and Wirecard Bank from 2016 to 2018”....
...Often, travel insurance is included either as an extra benefit or service through your bank or credit card company as part of a package of services for which you pay a monthly or annual fee....
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