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...“Having the tax business connected to assurance and advisory is critical, but structurally I don’t need those businesses to be smashed together for that to happen.”...
...McKinsey said last week that “the Urban China Initiative is not McKinsey” and rejected “efforts to use a document McKinsey didn’t write and work we didn’t do to call into question our 75-year history of...
...“Our commitment to cultivating an environment where all our professionals can thrive hasn’t changed. How we get there may face a few hurdles that it didn’t a year ago.”...
...“The thing that is going to hold it back, though, is . . . most companies do not have mature data capabilities and if you can’t use your data, you can’t use AI....
...Its chair, Erica Williams, told the Financial Times that it would “continue to use every tool in our enforcement toolbox to make sure people know that there are consequences for putting investors at risk...
...Don’t we advise companies on this?”...
...“This misconduct reveals an inappropriate tone at the top and a complete failure by firm leadership to promote an ethical culture worthy of investors’ trust,” said Erica Williams, chair of the PCAOB....
...Marc Filippino This isn’t the first time McKinsey’s consulting projects have come under fire. Can you put this episode into context for me? Stephen Foley Yeah....
...Erica Williams, PCAOB chair, said: “Growth must not come at the expense of quality.”...
...“Younger talent doesn’t want to take one job and work for 40 years and get a measly buyout when they’re done,” said Allan Koltin, M&A consultant to accounting firms....
...“The days of China-based firms evading accountability are over,” said PCAOB chair Erica Williams....
...Countries where schools didn’t close for quite so long tended to be more resilient to the impact of the pandemic. But that doesn’t explain everything....
...“We don’t need capital and we don’t need a method to distribute income any differently.” Becker took the helm of RSM US in 2022 having previously run its consulting business....
...The market alone won’t get economies firing on all cylinders in Blackpool, Burnley or Birmingham; it needs something to help it along....
...Responding to the lawmakers’ comments, McKinsey said: “We reject efforts to use a document McKinsey didn’t write and work we didn’t do to call into question our 75-year history of supporting the US government...
...We haven’t seen the end of this story yet.”...
...The postponement was “the right decision” for Co-op Live “if they feel the venue is not ready to welcome visitors and their systems aren’t fully tested”, the council added....
...stephen.foley@ft.com...
...“The days of China-based firms evading accountability are over,” PCAOB chair Erica Williams said....
...Here to talk with me about it is the FT’s William Sandlund. Hi, William. William Sandlund Thanks for having me on....
...“The policy isn’t going to work as a deterrent,” said one ally of Sir Keir Starmer, Labour leader. “Sunak might think it’s better to have an election before people realise that.”...
...Sonja Hutson Stephen Foley is the FT’s US accounting editor. Thanks, Stephen. Stephen Foley No problem. Thanks very much....
...“Those aren’t things that you land . . . in the next six months,” he said....
...PCAOB chair Erica Williams said earlier this year the number of deficiencies found in audit work was rising to “completely unacceptable” levels across the industry, and firms should no longer hide behind...
...“[We] don’t blink on the fact we are going to pursue this as a region,” he said, adding: “And that might not be appealing to some Conservatives, let’s say.”...
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