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Monthly Archive: October 2010

Deloitte: 2010 Holidays Hold Some Cheer For Retailers. Social Media Gaining Ground

Rob Starr, Big4.com Staff Reporter
31 October 2010

Deloitte’s 25th Annual Holiday Survey has some interesting findings including the fact most consumers will start their holiday gift search online. Deloitte finds that 62% plan to spend more or the same on the holidays, a 11% rise from Deloitte’s 2009 holiday survey and the highest level since 2006. This indicates that 2010 Christmas [...]


PricewaterhouseCoopers PwC Appoints Christopher Toohey To Risk Assurance, Ex KPMG

Kenneth Guillame, Big4.com Staff Reporter
31 October 2010

PricewaterhouseCoopers PwC U.S. appoints Christopher Toohey as a partner in San Francisco focused on Internal Audit-related services within PwC’s Northern California Risk Assurance practice, which has 100 professionals providing services in internal audit sourcing and strategy assessment, regulatory compliance, IT-related controls assessments, and non-financial performance and reporting.

Toohey has more than 23 years of experience [...]


Ernst & Young: Oil and Gas Industry In Flux, Facing Multiple Challenges

Kenneth Guillame, Big4.com Staff Reporter
31 October 2010

The global oil and gas industry, which operates at the confluence of geography, politics and the economy appears to be facing at this time an uncertain environment, owing largely to big variations in regional economic strength or weakness, new development opportunities, a changing environmental landscape and upcoming mid-term elections.

Marcela Donadio, Americas Oil and Gas [...]


Deloitte: Global Economic Growth Quite Imbalanced. Threats to Sustained Recovery

Rob Starr, Big4.com Staff Reporter
31 October 2010

Differing patterns of growth are highlighting global imbalances that are bypassing some of the world’s biggest markets. The United States, Eurozone, China, India, Japan, United Kingdom, Russia, Brazil, and Australia are all mentioned as those countries affected. And this global imbalance can pose a threat to sustained recovery, according to Deloitte’s latest Q4-2010 Global [...]


Deloitte Canada: Domestic Mortgage Brokers Continue Strong. Large Contrast with USA

Rob Starr, Big4.com Staff Reporter
31 October 2010

Canadian mortgage holders will benefit because the Canadian broker market will remain a fixture in the Canadian mortgage distribution landscape which contrasts the situation in the United States. This from the ‘Deloitte: Winning strategies in the brokered mortgage marketplace’, report.
"The Canadian mortgage industry is undergoing another significant paradigm shift,” says Deloitte’s Todd Roberts [...]


KPMG Replaces Ernst & Young As New Auditor At Morningstar

Kenneth Guillame, Big4.com Staff Reporter
31 October 2010

Morningstar, Inc., (Nasdaq: MORN) a leading provider of independent investment research, appoints KPMG LLP as its independent registered public accounting firm for the fiscal year beginning Jan. 1, 2011, to replace Ernst & Young LLP, which will complete Morningstar’s fiscal year 2010 audit. Morningstar’s board of directors’ audit committee conducted a thorough formal review [...]


KPMG Australia: Food And Grocery Industry Has Become Net Trade Importer For First Time

Erica deVry, Big4.com Staff Reporter
30 October 2010

A new report by the Australian Food and Grocery Council (AFGC) and KPMG finds that Australia’s $102 billion food and grocery industry continues to be the biggest manufacturing sector in the country, but stressed by pressure from rising imports and falling exports.

This second annual economic snapshot of the food and grocery manufacturing sector, “State [...]


Deloitte Honored With Oracle PartnerNetwork Specialized Global Award

Rob Starr, Big4.com Staff Reporter
30 October 2010

For the second time in the award’s history, Deloitte has been honored with the Oracle PartnerNetwork Specialized Global Award. Overall excellence and innovation in using Oracle applications was the deciding factor for the presentation to Deloitte.
“Receiving the Global Applications Award is the perfect complement to our success last year in winning the Global [...]


PricewaterhouseCoopers PwC UK: ASB Draft May Impact More Than IFRS

Rob Starr, Big4.com Staff Reporter
30 October 2010

The UK’s Accounting Standard Board (ASB) exposure draft will have an affect on the future of the UK’s accounting framework that will overshadow International Financial Reporting Standards (IFRS) that were introduced five years ago. According to PricewaterhouseCoopers PwC UK, these proposals have some significant prospective changes on:
• tax planning,
• the ability to pay dividends, [...]


KPMG UK: ASB Drafts Are Heading In The Right Direction

Erica deVry, Big4.com Staff Reporter
30 October 2010

KPMG UK welcomes the issue of the Accounting Standards Board’s (ASB’s) Financial Reporting Exposure Draft (FRED) outlining the proposed future for financial reporting in the UK, which the firm says are a "step in the right direction”. Especially, the adoption of a tiered approach to financial reporting, based on size and public accountability are [...]


Grant Thornton UK On ASB Draft: A Two Phased Launch Will Simplify Implementation

Erica deVry, Big4.com Staff Reporter
30 October 2010

Grant Thornton UK LLP is providing the firm’s response to the recent Accounting Standards Board (ASB) FRED draft in that it recommends the adoption of a proposed revised accounting framework for UK GAAP in two stages over the next five years.

Grant Thornton believes this approach has merit since it would allow listed companies to [...]


Deloitte UK on ASB Draft: The End of UK GAAP, With Large Implications For Reporters

Erica deVry, Big4.com Staff Reporter
30 October 2010

 

Isobel Sharp, audit partner at Deloitte commented on the UK Accounting Standards Board (ASB)’s Financial Reporting Exposure Draft (‘the FRED’) which lays out proposals for the future of reporting in the UK, that it will have large implications for UK reporters not only the financial statements, but also on tax, banking arrangements, systems and [...]


Deloitte Future Leaders Award to Gideon Lipschitz. Explores Risk In Financial Services

Rob Starr, Big4.com Staff Reporter
30 October 2010

Deloitte Australian Wealth Leader Sarah Woodhouse commends the winner of the fifth annual Financial Services Council/Deloitte Future Leaders award, Colonial First State product manager Gideon Lipschitz who will take the trip to London as winner of the contest on the strength of his paper, Moving from a model of disclosing risk to understanding. The [...]


Ernst & Young UK: ASB Drafts May Not Benefit Users. Implementation Challenges Remain

Erica deVry, Big4.com Staff Reporter
30 October 2010

Ernst & Young (E&Y) commented on the publication of the Financial Reporting Exposure Drafts (“FREDs”) by the UK Accounting Standards Board – the proposed ‘new UK GAAP’. In summary, the firm indicates that these will cause large changes in reporting and accounting systems, it will entail large cost and effort in implementation, but the [...]


Deloitte Rated By Kennedy As Number One Consulting Firm In The World By Revenue

Rob Starr, Big4.com Staff Reporter
28 October 2010

By a ‘considerable margin’ Kennedy Consulting Research & Advisory has named Deloitte the world’s largest consulting provider and management consulting firm. globally, based on 2009 aggregate revenues. The findings, based on the Global Consulting Marketplace 2010-2013 report and aggregate revenues, praised Deloitte’s capabilities in terms of consulting and strategy. Kennedy also had high praise [...]