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Community News

Andersen's VC Effort Fleshes Itself Out

Last week, AccountingWeb reported a story about how Arthur Andersen is repositioning its practice and conducting business through a new venture capital practice for Internet start-ups. Now that the dust has settled on the announcement, the firm has made public additional details regarding the VC component.Because everyone--these days--also is in the funding of Internet start-ups, experts are beginning to doubt the sincerity of Andersen's foray into the business.
Technology

Yet Another Big 5 Defection to the Dot-Com World

Andersen Consulting knows the power of the Internet. It's sister company Arthur Andersen is redesigning corporate strategies and setting up billion dollar venture funds to capitalize on the dot-com revolution.
Community News

Costumes, Dress Codes Lead to Quandry at Big 5 Firm

What happens when traditionally conservative suit-and-tie accountants enter into a strategic partnership with more relaxed dressed-down dot-coms?
A&A

The Seven Risk Factors In Successful Mergers

William Case is the founder of Integrated ChangeWare Systems, a company that specializes in merger integration, multiple organization roll-ups, and strategic change. In a workshop presented for AccountingWEB, Mr.
Community News

Andersen Adopts New Business Strategy

Arthur Andersen today unveiled a new business strategy designed to pull clients into what the firm is calling the "new economy."The goal is to position clients for change as economies change and the business marketplace changes along with it.
Community News

Leading Edge Alliance Adds Four New Firms

The Leading Edge Alliance, a network of premier independent CPA firms across the United States, announces the addition of four new member firms:The new firms are:Gifford, Hillegass & Ingwersen, P.C.
Community News

Fun Facts on EY and the Golden Globe Awards

What's behind the hoopla when major award shows bring out the accountants? Quite a bit, if you're Ernst & Young, who has kept the tally for Golden Globe Award winners for more than 30 years.Already, the firm is at work for this year's broadcast on Sunday, Jan. 23, and "3" seems to be a magic number. For three days prior to the broadcast, only three people - two EY CPAs and one assistant, know who the winners will be.Remember the 5:30 a.m. press conference in December to announce the nominees?
Technology

Big 5 Executives Transition to E-Business Companies

CPAs have always been at the top of the list of advisors in providing value-added knowledge.
Community News

Is CPA/Legal Fee Sharing Wrong?

Independence reigns supreme within CPA and law practices, but what about the issue of sharing fees within a practice that services both industries?Late last year, several Big 5 firms announced the set-up of law practices connected to the CPA practices to provide turn-key services to clients and enhance firm revenues.The issue is a nationwide one, and a Texas lawyer who heads up a State Bar of Texas Task Force to examine the multidisciplinary issue will go public on Jan.
Community News

Accounting Firms Merge Healthcare Practices

The accounting and consulting firm of Moore Stephens Lovelace, P.A. (MS Lovelace) has merged the healthcare division of Moore Stephens Frost (MS Frost) into its own healthcare practice. MS Frost is a fellow Moore Stephens North America, Inc. accounting network member firm from Little Rock, Arkansas.
Community News

H&R Block Takes Business to Year-Round Service

Seasonal tax-preparer H&R Block have unveiled a plan to transform their offices into year-round financial Services outlets for the middle class.The Kansas City-based company plans to open 94 Block Financial Centers throughout the country.
Community News

MySap.com Includes Deloitte and Andersen Consulting

Following up on an initial September announcement, SAP America's new online ERP (Enterprise Resource Planning) solution, known more familiarly as mySAP.com, has recruited Delotite & Touche and Andersen Consulting to join its initial core in SAP's Partner Network.SAP provides ERP and other solutions to the business marketplace, and is one of the companies heavily used by CPAs who provide consulting services for their clients.Other partners include IBM, Hewlett-Packard and Sun Microsystems.
Community News

SEC Calls for Accounting Industry Self-Regulation

Sometimes, the most important aspect of the accounting profession is its image, and SEC chair Arthur Levitt strongly believes the image is tarnished and needs to be polished.In the wake of the SEC's allegations that PricewaterhouseCoopers committed independence violations, Levitt believes the accounting profession's independence rules prohibiting auditors from owning stock in their client-companies needs to be reviewed.
Community News

AICPA Responds to SEC's Charges Against PWC

AccountingWeb ran the story last week regarding the allegations by the SEC on inappropriate independence issues with PricewaterhouseCoopers.Now, the AICPA has issued a public statement in response to the findings by the SEC.AICPA President Barry Melancon says that "The SEC has a right to expect the profession to adhere to the rules."However, because the profession has changed since SEC and other regulatory body rules were written, the accounting
Community News

CPA Firms Woo MBAs with Gimmicks

Want to recruit the best and the brightest to your CPA firm? Try having logo items made to pass out to MBA students, hold expensive dinners and invite prospective employees to the next big football game as your guest.These and other tactics are part of the "new wave" of recruiting efforts going on in America's schools, as firms try to compete with the "dot.coms" of the world for market share on campus.Among the CPA firms making the news in this scenario are Ernst & Young and PricewaterhouseCoopers, and who can blame them?
Community News

PWC Chosen by American Airlines for Reservations Upgrade

American Airlines has awarded a $70 million agreement to Big 5 giant PricewaterhouseCoopers and Sabre to upgrade the airline's reservation system.The goal is to lessen customer on-hold wait times by 25 percent through an overhaul of the telephone and computer system. Along with Sabre, PWC will develop systems in logic, databases and a new graphical user interface.The new venture also will transfer to the airline's Web site to enable faster completion of online mechanics.
Community News

Falsified Records Sends San Francisco CPA to Prison

A San Francisco CPA will spend at least one year in Federal prison for his role in altering tax returns to secure more than $2.1 million in loans from five banks.Regen Chinn of Chinn Accountancy Corp. was found guilty for his role and was sent to prison for 33 months. Also charged was Jack Young Jr., owner of Clement Tour and Travel, for his part in the scheme.
Community News

EY Earns Oracle Top Business Partner Award

Oracle has announced that it has bestowed its top business alliance partner award on Big 5 firm Ernst & Young.The honor was given to EY executives during Oracle's Open World conference in Los Angeles. EY received the award based on the firm's innovative way it has integrated the software into its consulting services.This award is the latest in a series of honors for EY. Last year, the GartnerGroup honored the firm as "best in class" for its Oracle applications. Oracle previously honored EY with a similar award in 1995.
Community News

Dallas KPMG Chief Receives Top Honor

C.H. Moore, head of the Dallas office of KPMG will receive the Anti-Defamation League's Henry Cohn award at a dinner on Thursday, Jan. 13 in Dallas.The award marks the 23rd year it has been given to local community leaders. Moore is honored for his "distinguished service and leadership in preserving liberty, counteracting bigotry and advancing the cause of human rights, dignity and equal opportunity."The Anti-Defamation League is a worldwide organization dedicated to raising awareness in human and civil rights' issues.
Community News

Free Refund Anticipation Loans Being Tested in California

H&R Block has announced that it is testing a new service in California, offering refund anticipation loans to clients at no charge.The prospect of clients getting cash in anticipation of their refunds has been popular for a few years now. H&R Block, along with many other tax return preparation outfits has been offering this service with a charge typically of about $20 or a percentage of the loan.

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