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Monthly Archive: April 2010

Galleon Rajaratnam Sued KPMG In 2005, But Did KPMG Pay?

According to Bloomberg BusinessWeek’s website, an article today by David Glovin and Patricia Hurtado reveals that Galleon Group co-founder Raj Rajaratnam and Gary Rosenbach had sued KPMG and tax shelter promoter Diversified Group LLC in a Manhattan court in 2005.

Apparently, the Internal Revenue Service disallowed $13.5 million in their tax transactions from 1999 and 2000, which forced Rajaratnam to pay [...]


EU Starts To Deeply Focus on Big Four Auditors

Following the voluminous and rather scathing report on the Lehman collapse by Anton Valukas, the Lehman Brothers court examiner, and of the reported professional negligence by Ernst & Young, the company’s auditor, it appears that the EU is taking considerable interest in scrutinizing the overall role of public auditors.

Mr. Michel Barnier, the new EU Internal Market Commissioner, and head of [...]


Compliments of Grant Thornton!

This morning in New York City and likely all other big US metro cities, there was a big give-away of Bloomberg’s newly revised Bloomberg Business Week magazine, and on the cover was cardboard slip with an intriguing line, “Let’s assume your time is valuable.”

And then if you did flip on the back of that insert you would notice that [...]


Huron Q1-2010 Short, But FY 2010 Affirmed, Shares Zoom

Huron Consulting Group Inc. (NASDAQ: HURN) came out today with Q1-2010 results, revenues were $138.9 million for Q1 2010 compared to $151.1 million in Q1 2009.
Diluted EPS from continuing operations for Q1 2010 was $0.14 compared to $0.28 in Q1 2009.

Net income was $2.5 million, or 12 cents a share (including option expense), compared with $7.1 million, or 35 [...]


Hiring To Surge in the UK Private Sector

It’s the kind of news that brings good cheer after a deluge of gloomy reports.

The latest quarterly CIPD/KPMG Labour Market Outlook survey in the United Kingdom (800 employers respondents) shows that the country’s emergence out of recession is now leading to better job prospects.

For the first time since Winter 2008, the overall net balance between the percentage of employers [...]


Grant Thornton On South Africa World Cup: Fewer Visitors Staying Longer

Just yesterday, April 21, 2009, Grant Thornton released its revised projections of the economic impact of the upcoming 2010 FIFA World Cup, now about 50 days away, on South Africa. And this was carried this morning April 22, 2010 by the Wall Street Journal, with a slightly different slant.

Grant Thornton’s titling was quite optimistic, “2010 FIFA World Cup visitors will [...]


Accenture Reports Second-Quarter Fiscal 2010 Results

Christina Broder, Big4.com Staff Reporter

On March 25, 2010, Accenture (NYSE: ACN) released its quarterly earnings for Q2-2010 with net revenues of $5.18 billion, a 2% decrease in U.S. dollars and 8% in local currency from Q2-2009. Net revenues for the second quarter of fiscal 2010 reflect a foreign-exchange impact of positive 6 percent.  Diluted EPS was 60 cents, operating income [...]


Capgemini Finds Customer Back On Top Of 2010 Supply Chain Agenda

Ethan Strassfield, Big4.com Staff Reporter

Capgemini Finds Customer Back On Top Of 2010 Supply Chain Agenda
 

In launching the in Supply Chain Agenda 2010, Capgemini Consulting, finds that a year after the start of the global financial crisis, the customer is back on top of the supply chain agenda for 2010. Overwhelmingly, 58% of supply chain managers [...]


Deloitte Finds Retailers Focusing on Leadership Development and Diversity

 Erica deVry, Big4.com Staff Reporter

A recent survey conducted by Deloitte and the National Retail Federation (NRF) to look into where retailers are succeeding on the talent front, shows that retailers are focusing on leadership development and diversity, however, gaps exists in opportunities for improvement in retail talent management programs.

Most retailers agree that talent management is part of their company’s strategic [...]


John Viehmeyer Is New Chairman Of KPMG US LLP

Kenneth Guillame, Big4.com Staff Reporter

KPMG LLP (US firm of KPMG International) announced that its CEO, John B. Veihmeyer, 54, has been elected chairman and chief executive of the U.S. audit, tax and advisory firm for a five- year term, beginning June 10, 2010. Veihmeyer will succeed Timothy P. Flynn, 53, who will focus full time on his role as chairman [...]


Ernst & Young Announces 2010 Your World, Your Vision Winners

Erica deVry, Big4.com Staff Reporter

Ernst & Young LLP announced that 3 teams have won its 2010 Your World, Your Vision campus competition, which invites students to develop and submit proposals for programs designed to make a difference in their communities. These areas cover education, entrepreneurship, and the environment, which are in line with Ernst & Young [...]


KPMG Finds Environmental Regulation Will Shape Auto M and A

Kenneth Guillame, Big4.com Staff Reporter

A new study by KPMG find that key trends including complex environmental regulations, overcapacity and highly competitive global markets will lead to increased mergers and acquisitions in the global automotive sector in the coming few years. In a white paper titled, “The Transformation of the Automotive Industry: The Environmental Regulation Effect,” KPMG [...]


Capgemini Launches Smart Analytics Service for Utilities

Kenneth Guillame, Big4.com Staff Reporter

April 2010

Capgemini announced the launch of Smart Analytics, its new business intelligence solution which provides an accelerated platform to help utilities gain the most value from the
complex data generated in their organization and by their Smart Grid and AMI (Advanced Metering Infrastructure) deployments.

The key advantage of this service is that it enhances the speed [...]


Ernst & Young Says Demand Exceeds Supply in US Nonperforming Loan Market

Erica deVry, Big4.com Staff Reporter
April 2010

Ernst & Young’s Real Estate Distress Services Group surveyed real estate investment and opportunity funds, private equity funds, institutional investors and real estate developers in late December 2009, and found that more than 60% bid on or priced US nonperforming loan (NPL) portfolios in 2009, but fewer than 17.5% were successful in completing a transaction. [...]


PricewaterhouseCoopers Launches Personal Brand eBook

Kenneth Guillame, Big4.com Staff Reporter

April 2010

PricewaterhouseCoopers LLP made available a terrific tool to help new college graduates gain challenging employment. A new Personal Brand eBook will help college students develop their personal brands and stand out in a crowded job market. This tool has numerous tips, insights and worksheets to enable students to thoughtfully identify, develop [...]