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Community News

A New Era of Accountability-Winning the Talent War for Women

A few years ago, Deloitte & Touche took a good hard look at its efforts to retain and advance talented women professionals. They were recruiting nearly as many women as men, but they experienced a much higher turnover rate for women. They realized that many of the women left due to a lack of advancement opportunities in the male-dominated environment. The firm decided to hold an intensive workshop for over 5,000 of its U.S. managers to discuss the subtle gender-based assumptions many of the women experienced.
Community News

H&R Block Launches $1 Million Promotion

H&R Block, the world's leading tax preparation firm, this week unveiled the H&R Block Million Dollar Giveaway promotion. Anyone who before April 15, 2001, uses H&R Block's tax services - in office, software or online - or the company's mortgage and financial services will automatically be entered into a drawing to win $1 million. "We've got a million reasons why doing business with Block is a smart choice this year," said Mark A. Ernst, H&R Block's president and chief executive officer.
Technology

PCPS 2000 Member Survey - Top MAP Issues

Partnering for CPA Practice Success (PCPS) has just received the results from its 2000 Member Survey. The survey was distributed to the full PCPS membership — about 6,500 firms.The goal of the survey was to gather information about management and practice issues facing firms in the profession.
Community News

KPMG Consulting Moves Forward with IPO Plans

KPMG Consulting LLP is continuing its move in the direction of an initial public offering planned for early in 2001. The firm recently amended its SEC filing to include a price estimate on its shares.The offering will net KPMG Consulting something in excess of $2 billion. Some of the proceeds will be used to repurchase stock from Cisco Systems which has decided to divest itself about half of its 19.9% holdings in KPMG Consuting.Upon completion of the IPO, parent company KPMG LLP will be left with ownership of approximately 20% of the consultancy.
Community News

KPMG Reports 11% Growth

Worldwide revenues for KPMG grew by 11% to $13.5 billion for the year ended September 30, 2000, the Big Five firm has reported.KPMG chairman Stephen Butler highlighted the "record results and profitability" for the year, and noted how the firm "has stronger geographic balance than the rest of the industry, which has a greater concentration of revenue in the United States." "Consulting services grew 11% this year to $3.9 billion; Tax and legal services climbed 16% to $2.9 billion; Assurance services grew by 8%, to
Community News

A New Recipe for the CPA Profession, With Richard Savich, PhD

A New Recipe for the CPA ProfessionPresented by: Dick Savich, PhD, CPA,President of ABKO ConsultingTuesday, January 94:00 - 5:00 p.m., Eastern TimeVisit the AccountingWEB Workshop Calendar for upcoming workshop sessions.Summary Richard Savich presented a live, interactive workshop focusing on the future of the accounting profession and the role consulting will play.
Community News

PricewaterhouseCoopers to Cut Partners

Big 5 firm PricewaterhouseCoopers is to axe one in ten partners as part of cost-cutting measures, according to reports in the British newspaper, the Sunday Times. The alleged staff cuts come after the PwC's failure to sell off its consultancy arm to Hewlett-Packard in November, and could form part of the firm's current restructuring plans.
Community News

Deloitte on Path to Success

Revenue growth at Deloitte Touche Tohmatsu has fallen to 14.1% - down from the 21% figure achieved for the last financial year, but marking seven consecutive years of growth. Annual global revenue reached $11.2 billion for the new year-end of May 31, 2000 - previously, the firm's fiscal year closed on August 31. Revenue from the firm's practice grew 15.4% and the consulting arm was up 11%. The Big Five firm also announced that it was determined to keep its consultancy business.
Community News

Midwest Accounting Firms Combine Forces

The certified public accounting and consulting firms of Virchow Krause and Lund Koehler Cox & Arkema have announced their merger. The merger provides the Twin Cities area with the resources of a large regional firm with strong local ties. The merger is effective January 1, 2001.Virchow Krause (VK) is the largest CPA firm in Wisconsin, and the 16th largest firm in the country, according to Public Accounting Report, a leading industry newsletter. The firm has 90 partners, and over 900 total staff. The merger will add 175 people including 28 partners in the Twin Cities.
Community News

KPMG Survey Shows Consumers Value Customer Service

Online or in person, customer service reigns supreme over low prices and even speed of shopping, according to a new survey conducted by KPMG and the Indiana University Kelley School of Business.The survey is called "Creating the Ideal Shopping Experience: What Consumers Want in the Physical and Virtual Store."When asked about their ideal shopping experience, approximately 40 percent of the 2,120 consumers polled reported that access to knowledgeable, helpful and courteous salespeople is the key attribute when shopping for major appliances, furniture and
Community News

Happy Birthday, Accenture!

Renamed. Redefined. Reborn. 01/01/01.It's official! Effective 1/1/01 Andersen Consulting is now just a memory and Accenture is alive and well.
A&A

Study Reveals Accountants Want Job Flexibility, Training

A Kelly Financial Resources study reveals that finance and accounting professionals across the nation prefer flexible schedules or working as project consultants to the traditional workday.The study was the result of a survey of more than 1,000 finance and accounting professionals. Many of those surveyed indicated a plan to become self-employed or a business owner. The study noted that despite job satisfaction, loyalty and above-average incomes, financial workers are looking for some kind of change.
Community News

Former Andersen Auditor Made Same Mistake Twice

AccountingWEB ran a story earlier this month regarding the failed Baptist Foundation of Arizona audit by Arthur Andersen.It now has been discovered that the auditor, Jay Ozer, also was involved in a failed audit 10 years ago with Lincoln Savings & Loan, The Arizona Republic reports that it obtained the investigative report from the Attorney General's office that provided details on Ozer.According to the state of Arizona's Attorney Genera
Community News

How the Internet is Changing the Practice of Accounting, with Michael Platt

How the Internet is Changing the Practice of AccountingPresented by: Michael PlattCEO of AccountingWEBVisit the AccountingWEB Workshop Calendar for upcoming workshop sessions.
Community News

Accountants Won't Count Ballots

Members of the press are being given the opportunity to attempt a recount of ballots in Florida, but accounting firms are steering clear of the whole mess.Reporters from the Washington Post, the St. Petersburg Times, and other newspapers are preparing to decipher the chads, dimples, and never-to-be-known intentions of Florida's voters.
Community News

PwC says Mergers & Acquisitions Outlook Strong for 2001

As the US economy enters year five of the mega-merger era, the outlook for global merger activity remains strong. Yet concerns about the impact of high interest rates, problems with financing, and the Three Es (equity markets, the Euro and energy costs) are mounting, according to the year-end M&A forecast by PricewaterhouseCoopers' Transaction Services group.
Community News

Plante Moran Makes Fortune's Top 10 Best Company List

Plante & Moran, one of several second-tier accounting firms, not only made Fortune magazine's Top 100 Best Companies to Work For, but came in Number 10 on the list.Other accounting firms to make this year's list include Deloitte & Touche (#32), Arthur Andersen (#67) and Ernst & Young (#98). Coming in at number one was The Container Store.Companies generally make the list when they demonstrate continued commitment to employee-oriented issues.
Community News

Former C&L Vice Chair Goes to Jail

The number three US executive from Coopers & Lybrand, the forerunner of PricewaterhouseCoopers, pleaded guilty to fraud in New Jersey last week.Robert T. Caruso, former vice chairman, was sentenced to 27 months for his crimes - which included frauds worth $318,000 involving Seton Hall University and the firm when he made donations to various Catholic charities.
Community News

PwC Lands Contract for Army Training

Secretary of the Army Louis Caldera announced today that the Army has awarded a $453 million contract to PricewaterhouseCoopers to provide distance education for an estimated 80,000 soldiers over the next five years.This program will enable soldiers to obtain college degrees and professional certifications using computers and online courses while they serve in the Army."This cutting edge, cyberspace program will provide unprecedented educational opportunities for our soldiers," said Caldera. "It reinforces the Army's long-term commitment to investing in its people.
Community News

Lawsuit Against KPMG Raises Medicare Concerns

A lawsuit against KPMG in Florida raises issues as to whether accounting professionals should be involved in Medicare billing issues done on behalf of their clients.The suit alleges that the firm, in 1990-93, helped five state hospitals falsify Medicare cost reports that were used to illegally inflate the hospital's payments from Medicare.Although KPMG has publicly said they did nothing wrong (back then it was KPMG Peat Marwick), the U.S. Justice Department, last week, joined the lawsuit against the firm.

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