Monthly Archive: March 2007
"One of the top audit-related malpractice concerns cited today is failure to prevent fraud. This was the focus in the widely publicized WorldCom and Enron cases, and in 35 percent of all audit claims reported to the AICPA’s Professional Liability Insurance program in 2004 (the most recent year available). Unfortunately, malpractice complaints involving fraud are not solely confined to audited […]
"Accenture (NYSE:ACN)has signed a seven year agreement to provide a broad range of human resources services to Kimberly-Clark Corporation.
Kimberly-Clark will also receive administrative services in multiple areas including recruitment, payroll administration, employee data management, workforce reporting, training and development. In addition, Accenture will provide enhanced human resources portals, educational information and other on-line benefits.
Outsourcing HR services is in line with […]
"Accenture continues to suffer from an embarrassment of riches! The ACN Board of Directors today approved a $1.5 Billion share repurchase.
Shares of Accenture rose 62 cents to close at $35.74 on the New York Stock Exchange.
In the quarter ending November 2006, ACN bought back $526 million of shares and paid its first dividends of about $300 million.
There s a ton […]
"Big top executive changes at Deloitte.
Barry Salzberg becomes the new chief executive of Deloitte and Touche USA, replacing James Quigley.
James Quigley moves on to become global CEO of parent firm Deloitte Touche Tohmatsu, replacing William Parrett.
John P. Connolly becomes Chairman of Deloitte s board, replacing Piet Hoogendoorn.
All this, we understand to happen May 31. These are just nominations by the […]
"Sir Michael Rake, Chairman of KPMG International will be leaving the firm in September 2007 to be Chairman of the BT Group plc. Sir Michael, one of the top honchos of the global accountancy profession served KPMG for long 33 years and held senior positions from Chairman and Senior Partner of KPMG U.K. to Chairman of KPMG International.
He was granted […]
"KPMG International and Economist Intelligence Unit (EIU) have found that Cost reduction is an enviable but difficult to achieve goal. They found that two-thirds of existing companies aim to achieve an annual reduction of 3%, while only 8% of the respondents reached or exceeded thei set targets so far.
When revenues and profits are rising, cost control loses some focus and […]
"Accenture s Supply Chain Management and Health & Life Sciences is on the way to improving global health care.
In a recent development, Accenture has helped MedShare International, a non-profit organization benefit from a stronger global supply chain. Surplus medical supplies from US donors can now be efficiently routed to distant places on the planet with a need for such drugs. […]
"Going global may sound poetic; going global may sound like inspiring dreams, but success as a global enterprise is impossible if organizations are poorly equipped. The statement came from nearly one-quarter of executives working for some of the largest companies in the world.
These results from a recent Accenture survey of global CEOs. This telephonic study and fieldwork were conducted in […]
"We notice that BearingPoint (NYSE: BE) has recently appointed a new President and COO, Ed Harbach, reporting to Harry You, CEO. Interestingly Ed Harbach also comes from Accenture, we believe where Harry You also spent some time as CFO. He is being awarded around 900,000 restricted stock units to vest over four years. BE stock has been flat recently, so […]
"CapGemini has noticed that about two-thirds of retail CEOs are not fully aware of the 3-to-5 year effects of online or multi-channel developments on their businesses. CEOs are also less eager to look at channel developments as positive opportunities, but view them rather as a competitive negative end-game.
Mr. Steve Sutton. retail consultant at CapGemini reported on the basis of […]
"CapGemini is instituting a new computer-based dispensing system at all of Lloyds pharmacy branches. CoMPaSS (Complete Medication and Patient Support System) will streamline 110 million prescriptions dispensed by Lloyds each year with additional complimentary benefits for patients, pharmacists and the NHS.
CoMPaSS has been designed keeping in mind the greatly expanded role of the UK pharmacies to comply with recent Department […]
"Ernst & Young notes that with increasing globalization and larger numbers of companies going public, professional services firms and financial reporting must be committed to restore investors trust, especially in emerging markets.
E& Y notes record high in Global IPO activity in 2006 with US$227 billion through 1,559 IPOs increasing from US$167 billion raised in the whole of 2005. The […]
"PricewaterhouseCoopers s 10th annual Global CEO Survey shows that the numbers of CEOs who feel very confident about revenue growth today has doubled from five years ago.
Out of 1,100 CEOs, 90% have a positive outlook towards revenue growth within a 12 months period, while 93% look forward to achieving the revenue growth over the next 36 months. CEO also expect […]
"PricewaterhouseCoopers Private Company Services has launched the first-ever global law firm strategic survey. The survey on International Law Firm Strategies will cover leading firms in the US, UK, Europe, Canada, Australia, Asia and Latin America and more than 60 different areas of law firm activities to show the key challenges affecting modus operandi of global law firms.
The topics covered […]
"Another bit of news on KPMG.
KPMG s escape as a firm from ciminal indictment remains as U.S. District Judge Loretta A. Preska dismissed objections of ex partners who have been charged criminally with promoting illegal tax shelters.
The criminal charges were dropped by prosecutors after KPMG agreed to terms of its deferred prosecution and agreed to pay nearly half a billion […]