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Monthly Archive: July 2010

Deloitte UK: Current M&A Deals Will Lead To More, Moving Up A Virtuous Cycle

Christina Broder, Big4.com Staff Reporter
31 August 2010

August 2010 has seen a huge surge in global M&A, at levels not seen in this month certainly for 2010 and perhaps for years. Deloitte UK believes this is a good sign, as M&A deals fuel corporate optimism, which then manifests as further M&A deals, what Deloitte calls a self-perpetuating cycle.

Carol MacKinnon, corporate finance [...]


McGladrey Acquires Caturano and Company, Largest Regional Firm in New England

Erica deVry, Big4.com Staff Reporter
July 21, 2010

RSM McGladrey, Inc. and McGladrey & Pullen, LLP , are acquiring Caturano and Company, Inc., New England’s largest regional full-service accounting, auditing, tax and business advisory firm to become the fifth largest assurance, tax and consulting firm in the New England region, based on the number of CPAs. RSM International is the sixth largest [...]


Big Four Firms Await Developments on Australian Minerals Resource Rent Tax

Nita Teoh, Big4.com
July 20, 2010

Australian Prime Minister Julia Gillard and Treasurer Wayne Swan treaded carefully to reach an amicable deal with the mining industry giants over the revised Minerals Resource Rent Tax (MRRT).

Since the new tax was released on the 2nd July, the Opposition party has been hard at work to uncover the downsides of Labor’s new policy.

See our blog [...]


We Talk with Grant Thornton on Accounting Talent Management

 

July 20, 2010

Company CFOs, as guardians of corporate coffers, have been under severe pressure in this economic crisis, equally to maintain profitability and efficiently manage their own financial organization. Revenue enhancement, cost control and risk management is still job number one. But not far from that is the acquisition, nurturing and retention of those who really make it happen – [...]


BDO Finds UK Fraud Exceeds 1 Billion GB Pounds In Only 6 Months of 2010

Erica deVry, Big4.com Staff Reporter
July 20, 2010

BDO UK LLP’s recently released six monthly update on reported fraud has a surprising finding.

Fraud growth in the UK continues unabated, with the first six months of 2010 already showing fraud losses which have skyrocketed to £1.06bn and almost the same level as for the whole of 2008. This is the first time fraud [...]


PricewaterhouseCoopers Canada Finds Q2-2010 M&A Activity Ahead of Global Trend

Ethan Strassfield, Big4.com Staff Reporter
July 20, 2010

PricewaterhouseCoopers (PwC) Canada finds that the Canadian M&A volumes are up 15% in Q2-2010 versus the Q2-2009 quarter, with energy and materials deals leading the way; and a 26% increase in the aggregate value of announced deals.

Canada appears to lead the US in this respect, as United States deal volumes in 2010 are at [...]


Grant Thornton Study Indicates CFO Strategies To Enhance Accounting Talent

Christina Broder, Big4.com Staff Reporter
July 20, 2010

Grant Thornton LLP recently released a new report titled, “The Evolving Accounting Talent Profile: CFO strategies for attracting, training and retaining experienced accounting and finance professionals.” This insightful analysis, based on interviews with 32 chief financial officers both at publicly traded and private companies, covers the state of the accounting employment market, staff development [...]


Grant Thornton Study Indicates CFO Strategies To Enhance Accounting Talent

Christina Broder, Big4.com Staff Reporter
July 20, 2010

Grant Thornton LLP recently released a new report titled, “The Evolving Accounting Talent Profile: CFO strategies for attracting, training and retaining experienced accounting and finance professionals.” This insightful analysis, based on interviews with 32 chief financial officers both at publicly traded and private companies, covers the state of the accounting employment market, staff development [...]


KPMG Extends Consulting Depth, Buys Grant Thornton Supply Chain Practice

John Fowler, Big4.com
July 19, 2010

We have not seen many acquisitions come through for KPMG US, but there has been growing rhetoric about the need for Big Four firms to get back into the consulting business.

See this article right from KPMG’s global site, which says….”For some time, the Big 4 accountants have been keen to make the point that they’re [...]


PricewaterhouseCoopers PwC Makes An Unusual Appeal on Diversity

Christina Broder, Big4.com Staff Reporter
19 August 2010

PricewaterhouseCoopers US (PwC) is making a rather unusual but welcome appeal. It is calling on organizations to manage diversity with their ‘heads, hearts and wallets’

Doing so will lead to long-term competitive advantages.

Greg Garrison, Partner and Vice Chairman, PricewaterhouseCoopers LLP (PwC), in a keynote speech at the 2010 Ascend Annual Gala indicated that organizations which [...]


Deloitte Global Aerospace and Defense Outlook Shows Growth in India and Middle East

 

Christina Broder, Big4.com Staff Reporter
July 19, 2010

Deloitte recently analyzed the quarterly financial statements of the top 25 global aerospace and defence (A&D) companies and found that financial performance will remain flat throughout 2010. For the companies which have yet reported in 2010, sales revenue growth was -1.01%, operating profit growth was -1.92% and operating margin growth was -0.92%.

The commercial aircraft industry reached a 15-year [...]


BDO Finds Provision in Dodd-Frank Act Can Help Small Companies

Kenneth Guillame, Big4.com Staff Reporter

Monday, July 19, 2010
 

There is some good news for small publicly traded companies in terms of cost and effort savings from complying with Sarbanes Oxley provisions under the 2010 Reform Act. It appears that Congress is listening to many constituencies who have pointed out that SOX efforts and costs are unduly burdensome to smaller companies.

BDO USA [...]


Ernst & Young Finds $1.1 Trillion Cash In Working Capital, But Performance Deteriorates

Christina Broder, Big4.com Staff Reporter
July 19, 2010

The recently released 2009 annual Ernst & Young working capital survey on the working capital performance of the 2,000 largest companies by sales, headquartered in the US and Europe has two startling findings:

These companies now have an aggregate total of up to US$1.1 trillion of cash unnecessarily tied up in working capital, an amount [...]


Baker Tilly International Grows in China, Merges With VICPA

Christina Broder, Big4.com Staff Reporter
July 18, 2010

Baker Tilly International is enhancing its breadth and depth in an increasingly critical and growing market for professional services – China. This supports the growth in key emerging economies for the 8th largest accounting network in the world.

Vocation International CPAs (VICPA), the 9th largest accounting firm in China, has merged with Baker Tilly China, [...]


Capgemini And KPMG Shape The Thinking At 2010 World Congress On IT

 

Nita Teoh, Big4.com
July 14, 2010

Chief Information Officers (CIOs) are continually faced with the increasing pressure of delivering greater value from IT services for their companies on a daily basis. Much like Moore’s law, demands on performance keeps increasing while costs continually drop.

Managing costs and other hot topics facing CIOs around the world were major topics of discussion at the recent [...]