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Community News

Justice Dept Joins Lawsuit Against KPMG

The Justice Department has joined a lawsuit alleging that KPMG helped a client defraud the American government through submitting bogus expense claims, reports the New York Times.The whistle-blower suit sees the accounting firm accused of assisting the Columbia/HCA Healthcare Corporation in misrepresenting costs associated with patient care, so as to receive payment for costs that were not eligible for reimbursement.A former Columbia employee claimed that KPMG helped some Florida hospitals owned by Columbia set up secret reserves, which were kept in case government auditors discov
Community News

McGladrey Acquires DC Firm

RSM McGladrey, Inc., a national accounting, tax and consulting firm serving mid-sized businesses, has acquired the non-attest (non-CPA) business of Washington D.C.'s Keller Bruner & Company, LLP.
Community News

Deloitte Teams with AngelPoints to Reward Volunteerism

The United Nations General Assembly has announced that 2001 will be the International Year of Volunteers. With objectives of increased recognition, facilitation, networking and promotion of volunteerism, the U.N. will document and recognize volunteer activities around the world.
Community News

Andersen Sued by Arizona Accountancy Board

It is the largest penalty ever sought by the Arizona State Board of Accountancy - the board is asking for $600 million to reimburse investors who relied on Andersen's audit of the now-bankrupt Baptist Foundation of Arizona. The Arizona State Board of Accountancy has filed a $600 million complaint against Arthur Andersen, claiming the Big 5 firm failed to properly audit the Baptist Foundation of America (BFA).
Community News

PwC Survey - Private Banking/Wealth Mgt. Industry in Transformation

PricewaterhouseCoopers survey reveals exceptional growth, high earnings, and large profit margins are driving radical change throughout industry say CEOs of Top North American Financial Institutions. CEOs of top financial institutions report that the private banking industry is undergoing sweeping transformation, presenting unprecedented opportunities and significant challenges, according to PricewaterhouseCoopers’ first annual North American private banking/wealth management survey.
Community News

Name Change, Affiliation Part of BMF's Strategy

The Akron, Ohio-based accounting firm of Bober, Markey, Fedorovich & Company recently changed its name and announced a new affiliation with the Financial Consulting Group, L.C. (FCG).The firm added the name, Fedorovich, last month to reflect the contributions made by Managing Partner, Rick Fedorovich. The affiliation with FCG is a result of the firm having built a strong business valuation and litigation practice during the past few years.
Community News

KPMG Named Leadership Partner to U.N. Initiative

Here’s a feather in the KPMG hat: The accounting firm and its 25,000 partners and employees across the United States was named a Leadership Partner in the International Year of Volunteers celebration in the United States, or IYV 2001 US.KPMG will partner in all activities in IYV 2001, which was decreed by vote of the United Nations General Assembly. IYV 2001 will celebrate the achievements of volunteers worldwide and create thousands of new volunteer opportunities.
Community News

Katz Sapper Miller to buy Firm Back From H&R Block

Twenty four months after a landmark acquisition by H&R Block of KSM Business Services, Inc., an agreement in principle has been reached to sell the subsidiary back to the partners of Katz, Sapper & Miller for $25 million.KSM Business Services was formed in 1998 to allow H&R Block to acquire the non-attest assets of the 48th largest CPA firm in the USA, Indianapolis-based Katz Sapper Miller.KSM Business Services was the third of seven regional accounting firm acquisitions made by H&R Block prior to its acquisition of the non-attest assets and business of McGladrey & Pullen, LLP, the seven
Community News

Colleges Compete for Andersen Tax Challenge

The best and the brightest college students competed for top honors in the 2000 Arthur Andersen Tax Challenge® National competition, held Nov. 17-19 at its training facilities in St. Charles, Ill.Both graduate and undergraduate teams qualified as winners, and this year's awards went to the College of William and Mary (undergraduate) and the University of Denver (graduate). Students solved real-life tax problems using a team approach that tested knowledge of the law and analytical abilities.A $20,000 donation from the Andersen Foundation was given for first place.
Community News

Freed Maxick Merges with RSM McGladrey

Buffalo, New York based Freed Maxick Sachs & Murphy, P.C. have announced that some of it's divisions will combine with RSM McGladrey Inc.
Community News

AccountingWEB Receives Innovation Award

AccountingWEB has been selected as the very first recipient of the "On The Edge Innovation Award" from the Leading Edge Alliance, a progressive association of independently owned public accounting firms in the USA.AccountingWEB CEO Michael Platt was in Las Vegas last week to pick up the award at the association's Annual Conference."We are truly honored to be the first recipient of this special award recognizing innovation in the accounting pro
Community News

AICPA, Big 5 PAC Contributions Lean to Republicans

Accounting firms were overwhelmingly on the Republican side during this year's elections, according to government statistics on financial contributions.Seven accounting political action committees (PACs) contributed about $4 million to election campaigns this past fall, and 64 percent of that money went to Republican candidates. This is based on a report issued by the Washington-based Center for Responsive Politics, a non-partisan group.Ernst & Young's PAC was the biggest giver, contributing $850,886, with $545,396 going to Republicans.
Technology

Ebank Exits 'Net; Returns to Brick & Mortar Roots

What seemed like a great idea just didn't work. ebank, an Internet-only bank that has operated online since June 1999, has significantly reduced its dependence in cyberspace in favor of the traditional, community bank scenario.As an online venture, ebank has lost more than $6 million. Initially operating as Commerce Bank in Atlanta, management flocked to the Internet in much the same fashion as online rivals Wingspan and NetBank.
Community News

Accenture Announces New Mergers & Acquisitions Leader

Accenture, the firm formerly known as Andersen Consulting, announces its first outside appointment with the addition of Pat Anslinger to the global management team.Pat Anslinger is the new Global Head for Mergers & Acquisitions. Mergers & Acquisitions is part of the firm's Strategy and Business Architecture practice, which will focus on the agendas of senior executives.
Community News

San Diego D&T Awarded for Best Place to Work

The San Diego office of Deloitte & Touche was named one of the 'Best Places to Work' in San Diego county by the Work-Life Coalition of San Diego.The organization presented the award to D&T, as well as awards to several other businesses, during a Leaders in Work-Life ceremony in early November.D&T tied for first place in the 50-500 employee category, and was given the honor for the firm's support in helping employees balance activities between work and home.
Practice Management

RSM McGladrey Announces Insurance Alliance

RSM McGladrey, Inc., a subsidiary of H&R Block, has announced a national alliance with three major insurance companies to provide life insurance solutions for McGladrey clients.Jefferson Pilot Financial, Pacific Life Insurance Company, and National Life Insurance Company will work locally with McGladrey wealth management planning teams through a network of approximately 85 independent agents nationwide to provide insurance services to McGladrey clients.RSM McGladrey's financial planners will not receive commissions based on an individual's life insurance purchases.
Community News

Dallas Firm Belew Averitt Joins BDO Seidman

Twenty-four-year-old Belew Averitt LLP, a Dallas, Texas CPA firm, has merged its practice with BDO Seidman. Belew Averitt was a member of Horwath International."In twenty-five years of practice, it is not often you find a firm with which you share such a uniquely compatible practice philosophy," said Jim Belew, formerly Managing Partner of Belew Averitt.
Community News

HP bid to buy PwC Lowered

According to recent reports, Hewlett-Packard has lowered its bid to buy PricewaterhouseCoopers because the firm isn't worth as much as previously thought.The difference is about $3 billion. Several months ago when talks first began to buy PwC, HP was willing to pay as much as $18 billion because that's how much the firm was valued at given its stock and cash.
Community News

Elton John has his day in Court with PwC

It's Goodbye Yellowbrick Road and Hello High Court in London, where Sir Elton John is suing both PricewaterhouseCoopers and a former business manager for negligence in managing his money several years ago.Apparently, there is 20 million pounds missing that can be traced to a man named Andrew Haydon, the former managing director of John Reid Enterprises (JREL).
Community News

Andersen Consulting to Become Accenture in New Year

Effective January 1, 2001, Andersen Consulting will go by the new name of Accenture, the firm announced on Thursday. The change in name was forced on the firm by the divorce arrangements brokered in August by the International Chambers of Commerce.

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