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Monthly Archive: August 2011

Ernst & Young: Commonwealth Bank Proudly Sponsors Entrepreneur Program

Erica deVry, Staff Reporter

Ernst & Young recently introduced The Commonwealth Bank as the new primary sponsor of the prestigious Ernst & Young Entrepreneur Of The Year program in Australia and New Zealand.

Welcoming the Commonwealth Bank as the new primary sponsor of the Entrepreneur Of The Year program, Rob McLeod, Ernst & Young Oceania CEO and Managing Partner, commented:

“The Commonwealth […]

Ernst & Young: UK and Switzerland Reach Landmark Tax Agreement

Erica deVry, Staff Reporter

HM Revenue & Customs recently announced an agreement was reached between the UK and Swiss Governments on taxing funds held by UK citizens in Swiss bank accounts. Continuing a pledge by the Coalition Government in the UK, the agreement is described as a landmark development in an effort to end tax evasion in Switzerland.

“It offers UK […]

KPMG: Insurers Should Work To Affect Global Regulatory Requirements

Kenneth Guillame, Staff Reporter

While the Financial Stability Board (FSB), a regulator created to identify and take action against problems in the financial system, has mainly focused on the banking sector, the insurance industry in the UK is the next sector to be examined with the FSB awaiting recommendations from the International Association of Insurance Supervisors (IAIS).

A new KPMG report […]

KPMG: Survey Reveals Record Number of Insurance and Investor Fraud

Kenneth Guillame, Staff Reporter

Australian Courts have witnessed a record number of insurance fraud cases and cases of fraud against investors in the first half of 2011, according to the latest KPMG Forensic Fraud Barometer. Unlike previous Fraud Barometers where financial institutions and commercial businesses were the biggest victims, the KPMG survey found investors suffered the most significantly with fraud […]

Deloitte: Social Networking Complements Television Viewing

Ethan Strassfield, Staff Reporter

Despite concerns of executives in the television industry, a new report from Deloitte indicates social networks enhance television viewing rather than compete against it.

Fifty-four per cent of respondents participating in a Deloitte/Gfk survey indicate they regularly watch television while surfing the web. Forty-five per cent of respondents indicate online shopping sites are the most popular websites […]

Deloitte: New Leadership In Public Sector Transport and Infrastructure

Ethan Strassfield, Staff Reporter

Senior infrastructure and transport expert, Luke Houghton, has been appointed leader of Deloitte’s Public Sector transport and infrastructure industry practice. Houghton brings  more than fifteen years consulting experience with major transport, finance, strategy and infrastructure projects to his new position with the firm.

“Luke’s appointment as Public Sector Transport and Infrastructure Leader aligns with Deloitte’s strategy to […]

PwC: Tom Archer Appointed US Technology Sector Leader

Rob Starr, Staff Reporter

PwC US is pleased to announce the appointment of Tom Archer as Leader of the firm’s US Technology Sector. He succeeds Rob Gittings, who will join the US Leadership Team in the firm’s New York office.

With over twenty years experience in client service, Tom Archer brings an innate understanding of the technology sector to his […]

PwC: ANSI Accreditation Enhances Reporting and Assurance Services

Rob Starr, Staff Reporter

The American National Standards Institute (ANSI) recently announced PwC has been accredited to provide Greenhouse Gas (GHG) Assurance services.

Recognizing PwC has the resources, organizational structures, systems, and expertise to provide high quality greenhouse gas verification services to Canadian organizations, the accreditation from ANSI is made in accordance with the requirements of the ISO 14065:2007 standard.

The GHG […]

PwC: Insurance Industry Needs To Prepare For FATCA Compliance

Rob Starr, Staff Reporter

The biggest challenge for almost any institution is understanding how the law specifically impacts their organization. The broad implications inherent in The Foreign Account Tax Compliance Act (FATCA) present significant challenges to business operations for many insurers according to PwC US’s Ready, Set, FATCA report.

In a government effort to fight tax evasion, FACTA will require […]

Ernst & Young: Technology M&A Value in Q2 Almost Doubles First Quarter

Erica deVry, Staff Reporter

Energized by industry consolidation and disruptive technology innovations in cloud computing, smart mobility and social networking, big-ticket deals propelled the aggregate value of global technology mergers and acquisitions (M&A) in the second quarter of 2011 to US$52.1bn. According to Ernst & Young’s Global Technology M&A update, April-June 2011, this figure represents nearly double the deal value […]

Ernst & Young: Assurance Leader Appointed For UK and Ireland

Erica deVry, Staff Reporter

Ernst & Young has named Hywel Ball the new head of Assurance for the UK & Ireland.

Ball’s appointment comes as Ernst & Young secured a number of FTSE 250 audit clients in the past two months and is part of a restructure of the firm’s UK & Ireland leadership team under new manager partner, Steve Varley.

Ball […]

KPMG: Global Member Firms Increase Hiring Targets

Kenneth Guillame, Staff Reporter

KPMG’s member firms will increase their on-campus resourcing target by 25 percent with plans to hire approximately 75,000 campus graduates worldwide over the next three years. Long-term, approximately 250,000 graduates will be hired by the global member firm network in the next five years with plans to integrate hires into all of KPMG’s functional areas including […]

KPMG: Executives Expect Increased Compliance Costs with FATCA

Kenneth Guillame, Staff Reporter

Finance and tax executives in the U.S. banking industry expect significant increases in compliance costs as a result of the Foreign Account Tax Compliance Act (FATCA), citing account identification requirements as the most significant compliance challenge related to the new reporting and withholding system according to a recent survey from KPMG LLP.

“The FATCA regime creates significant […]

Deloitte: Rising Business Demand Fills Australian City Based Hotels

Ethan Strassfield, Staff Reporter

Reviewing the financial performance of the Australian Hotel Industry to June 2011, the recently released Deloitte Hotel Market Outlook Q3/2011 considers what effect modified global markets could have on the accommodation sector and provides an updated outlook for the industry in 2011 and 2012.

An overview of the Hotel Market Outlook Q3/2011 includes:

City based hotels are experiencing […]

Deloitte: 4G Network Investment Could Stimulate Revenue and Employment

Ethan Strassfield, Staff Reporter

A new Deloitte report suggests investing $25 to $53 billion in fourth generation cellular wireless networks (4G) by U.S. wireless telecommunications companies between 2012 and 2016 could lead to an increase in gross domestic product growth from $73 to $151 billion. In addition to creating employment in the range of 371,000 to 771,000 jobs, the report […]