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Monthly Archive: August 2010

Ex-KPMG Tax Senior Manager Convicted For 10 Years, But With $3 Million Lower Penalty

 

Lisa Chapman, Big4.com
30 August 2010

(blog) It’s been a while since we saw some news from the KPMG tax shelter case, which was being judged by Justice Kaplan in New York, and we have blogged a lot about all the twists and turns that the case has taken.

Now we hear that a federal appeals court has stood by Justice Kaplan’s convictions [...]


Deloitte UK Urges Disability Sports Clubs To Claim Their GBP 7.5 Million In Tax Savings

Christina Broder, Big4.com Staff Reporter
30 August 2010

Deloitte UK wants every of the around 2,000 amateur disability sports club in the UK to register as a Charity or a Community Amateur Sports Club (CASC).

What’s at stake – an average tax saving of £3,700 per year for each of two years.

And with just two years to go until the start of the [...]


KPMG Uncovers Financial Fraud at The Centre for Humanitarian Dialogue

Ethan Strassfield, Big4.com Staff Reporter
30 August 2010

The Centre for Humanitarian Dialogue (CHD), an independent mediation organization, has sadly been the victim of business fraud by its own former Director of Finance and Administration. The fraud was discovered in June 2010 by CHD senior management, who then engaged KPMG to conduct a full investigation.

This is an unfortunate occurrence in an organization [...]


Mind-Boggling: Deloitte Stumped By Low Awareness On Business Analytics

Erica deVry, Big4.com Staff Reporter
30 August 2010

Deloitte is puzzled by the response to its own recent internet survey on business analytics, "Business Analytics: Shifting from Hindsight to Insight to Foresight"

"Mind-boggling," said John Lucker, a principal with Deloitte Consulting LLP, leader of its Advanced Analytics and Modeling practice.

Why this surprising response?

In a recent Deloitte webcast poll of 1,900 technology executives and [...]


Ernst & Young Sued In Houston By Investors Who Lost Money in Parkcentral Global

Kenneth Guillame, Big4.com Staff Reporter
29 August 2010

Ernst & Young (E&Y) is facing a securities lawsuit from a group of investors who lost more than $17 million following the collapse of a Plano, TX-based hedge fund that promised low-risk investments, especially two funds sold by Plano’s Parkcentral Capital Management LP’s Parkcentral Global Hub Ltd. , which was operated by H. Ross [...]


Deloitte UK Finds Faster Broadband May Not Impel People To Watch More Internet TV

Ethan Strassfield, Big4.com Staff Reporter
29 August 2010

One would tend to link faster internet speeds with higher propensity to surf the internet. After all, who wants to wait on slow downloading speeds.

But Deloitte UK has a surprising finding that this may not be the case. In surveying 4,199 UK 18+ adults, Deloitte and YouGov indicate that 55% of people in the [...]


PricewaterhouseCoopers Urges Internal Audit To Become Critical To Top Leadership

Erica deVry, Big4.com Staff Reporter
28 August 2010

An extensive recent survey conducted by PricewaterhouseCoopers (PwC) of 2,000 executives from 55 countries, titled, “2010 Global State of the Internal Audit Profession” shows that the internal audit function has the right visibility within the organization and mandate to serve as strategic risk advisers to board of directors. The recent global financial crisis has [...]


PricewaterhouseCoopers: H1-2010 Global Automotive Industry M&A Up Modestly

Kenneth Guillame, Big4.com Staff Reporter
27 August 2010

While the automotive industry as a whole has been rather slow in making deals in the recent past, the automotive transaction services practice at PricewaterhouseCoopers LLP (PwC) indicates a small upward movement in M&A in H1-2010 with 265 deals closed with a disclosed value of $11.6 billion. This is 63% lower than the $31.6 [...]


Capgemini: July 2010 UK Online Spending Is £5 Billion, Highest This Year

Erica deVry, Big4.com Staff Reporter
27 August 2010

There is very good news on the online retail front in the UK.

The latest IMRG Capgemini e-Retail Sales Index shows shoppers spent £5 billion online in July in 2010, the highest monthly total this year.; at an average of £811 per person, showing online retail has significantly moved upwards. July 2010 was significantly strong [...]


KPMG Australia Finds Fraud Supercases Are Driving High Fraud Levels

Christina Broder, Big4.com Staff Reporter
27 August 2010

The latest KPMG Fraud Barometer for Australia for June 2010 finds the total level of fraud in Australian courts is A$132,176,000 for 56 cases, the second-highest ever recorded by this barometer. Though the total value has declined since December 2009 (the highest ever) which had 81 cases at A$217,924,000, the average for June 2010 [...]


PricewaterhouseCoopers: South African Wine Industry Faces Strategic Crossroad

Christina Broder, Big4.com Staff Reporter
27 August 2010

PricewaterhouseCoopers (PwC) recently released its South African Wine Industry Insights Survey 2010, finds the industry is facing tough strategic choices, driven by falling margins, strapped customers and decreasing yields. The survey looked at local wine business issues and actions used by organizations to remain relevant and successful during challenging times. Larger and smaller producer- [...]


Deloitte Study Finds Indian Space Industry To Blast Off With 14.8% Growth

Erica deVry, Big4.com Staff Reporter
27 August 2010

A recent study by Deloitte India, CII and Antrix at the Bengaluru Space Expo shows India’s space industry is expected to expand at a substantial rate, despite the global economic slowdown and lower spending by many global governments on military, defense and security technology acquisitions.

The 2010 Indian space budget of Rs.57.78 billion ($1.26 billion) [...]


mPHR Can Be Critical In Reducing Health Care System Costs, Says Deloitte

Ethan Strassfield, Big4.com Staff Reporter
27 August 2010

The state of California just launched the nation’s largest telehealth system last week, a landmark event that uses state-of-the-art technology to connect consumers and providers aimed at more-effective but lower-cost health care.

Deloitte Center for Health Solutions believes that this convergence of personal health records and mobile communication devices may enable consumers to use technology [...]


UK Employers Finding It Hard to Fill Key Job Vacancies Today, Says KPMG

by Rob Starr, Big4.com
August 25th, 2010

(blog) Here’s another one for the truth is stranger than fiction file. According to a new report from KPMG UK, almost half of the British employers surveyed said that they were having a hard time filling open job vacancies. In fact 45% of the 600 that were surveyed said that they were having this [...]


FASB Chairman Herz, ex-PwC, Unexpectedly Retires. Seidman, ex-E&Y, Is Acting

Lisa Chapman, Big4.com
25 August 2010

(blog) We saw it yesterday buzzing around in the news, and also confirmed by the Financial Accounting Standards Board (FASB) that its current chairman Robert Herz is retiring on his own accord almost two years before the end of his term, much to the surprise of the industry, the Board and the Financial Accounting Foundation (FAF). [...]