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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...
...PwC departed from the industry’s historic model of having tax as a standalone business unit in 2021, when Ryan split the almost 1,000 US tax partners between the firm’s accounting and consulting arms....
...The UK’s accounting watchdog is in talks to move its headquarters out of the City of London to Canary Wharf or Stratford, as its plans to relocate staff to a second office in Birmingham face delays....
...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...
...In contrast, over ten percent of banks with uninsured deposits accounting for more than half of their deposit funding reclassified securities from AFS to HTM....
...Still, the accounting of SSI’s value is what laid the foundation for this dispute....
...The Dutch arm of KPMG was on Wednesday fined $25mn by the Public Company Accounting Oversight Board, the largest penalty in the US regulator’s history, and the firm also faces disciplinary action in the...
...Cheating on internal exams has been a repeated problem across the Big Four accounting firms, which have all now been fined for the activity....
...In 2022, the SEC warned accounting firms to exercise great caution around investments from private equity firms....
...The company said its audit committee had “engaged a large, globally recognised forensic accounting firm and a prominent independent global law firm” to review its accounting practices....
...The UK’s accounting watchdog has warned that he is “sheriff for only half the county” and forced to “beg” for funding without long-delayed legislation to create a stronger audit regulator....
...“I would characterise them as technical violations,” said Dennis McGowan, vice-president of the Center for Audit Quality, which represents large US accounting firms....
...statements or tackle complicated accounting issues....
...US authorities are investigating accounting procedures at Archer Daniels Midland, the global agricultural commodities trader that placed its chief financial officer on leave last month pending its own internal...
...Daniels Midland told employees on Friday that the company was “not perfect” and that it would fix any potential issues following an announcement last weekend that it had opened an investigation into its accounting...
...As cold and unyielding as accounting may be, human psychology remains truly mysterious. sujeet.indap@ft.com...
...Neither CECL accounting nor fair value accounting is perfect....
...The US accounting firm Baker Tilly has agreed to sell a majority stake to the investment groups Hellman & Friedman and Valeas, marking the largest private equity deal to date in the sector....
...The UK’s accounting watchdog is investigating the conduct of an accountant regarding the operations and investment activities of Thurrock council, which has declared effective bankruptcy....
...It also said the company had implemented a plan to remediate the weaknesses in its internal controls that the accounting probe had revealed, including training staff on accounting policies....
...A senior audit partner at one large accounting firm said Frasers had “bought themselves credibility by hiring the ex-sheriff”....
...Jan BouwensProfessor of Accounting, Amsterdam Business School, University of Amsterdam, The Netherlands...
...Company Accounting Oversight Board steps up inspections of the trickiest audits....
...Accounting firms that have taken private equity investments have indeed sped up their expansion....
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