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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...
...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...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...
...Two top-30 US accounting firms took private equity investments in 2022, and more deals were in the works until rising interest rates disrupted discussions....
...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...
Private equity-backed business hit by rise in staff and financing costs
Consulting and accounting firm’s results buoyed by ESG work despite M&A slowdown
Policies come as Beijing increases control over international financial hub
...Senior partners at the accounting firm BDO USA are in line for a big windfall after the arrangement of a $1.3bn debt deal with Apollo Global Management, according to people familiar with the situation....
...Deloitte has the most racially diverse workforce of the Big Four accounting firms in the US, an analysis of diversity and inclusion reports shows, following a hiring spree that swelled its employee numbers...
...Accounting firms that have taken private equity investments have indeed sped up their expansion....
...Such accounting changes were “probably something that will continue”, he added....
...The retailer was hit by several profit warnings and an accounting error relating to its stock position....
...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...
The cuts would come on top of the redundancies the Big Four firm already announced in September
...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....
...Gotham City, founded by Dan Yu, in 2014 exposed accounting problems at Spanish WiFi provider Gowex, which filed for bankruptcy soon afterwards....
...Yunita Anwar Auxiliary Assistant Professor of Accounting, Shenandoah University School of Business, Winchester, VA, US...
...Fortnox’s unstoppable rise runs into short sellers Accounting software group Fortnox is the Swedish stock market sensation you have never heard of....
...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....
...And once accounting for higher expected defaults among lower-quality high-yield issuers, you might not end up getting the yields you see on the tin. Panossian: Fair enough....
...Audax went as far as to describe a HIG-led inquiry into Mobileum’s accounting practices as a “Stalinist show trial”....
...It would have also been likely to have to do some work on translating its figures from their US accounting basis....
...Martin Mulyadi Associate Professor of Accounting Shenandoah UniversityWinchester, VA, US...
...The accounting firm is set to cut approximately 800 jobs in its UK division, according to a person familiar with the plans, equivalent to about 3 per cent of its workforce of 27,000 people in the country...
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