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Technology

Another Big 5 Exec Lured To the Internet

Hot on the heels of Andersen Consulting CEO George Shaheen's retirement to head up Internet startup Webvan, Jeffrey Hirschberg today announced his retirement as Vice Chairman of Ernst & Young to become a director of visitalk.com, a web-based telecommunications start up company.At visitalk, Hirschberg's role will be to help facilitate the company's attempt to build a global directory that allows online voice and video calling.
Community News

D&T Offers new Consulting Service for Benefit Plans

Deloitte & Touche have announced a new program called "BeneFIT: Comprehensive Fitness Testing for Outsourced Benefits," to address the growing benefit plan marketplace and the risk associated with fiduciary responsibilities. The new service is part of the firm's Human Capital Advisory Services practice.Overall, the service is geared to companies who outsource administration of plans, and as a safety measure, the litigation associated with benefits when a plan goes sour.
Community News

MCI, Sprint Talk Merger

MCI, the nation’s second largest-, and Sprint, the nation’s third largest-long-distance carrier, are talking about a merger that would result in a mega long distance company. Though, it’s not a done deal by a long shot.Sprint is very attractive to MCI Worldcom because along with long distance, Sprint brings a wireless component to the deal.
Technology

Intuit CEO Resigns; Returns to Entrepreneur Role

Intuit has announced that CEO Bill Harris has resigned his position to pursue entrepreneur activities. Replacing him on an interim basis is chairman Bill Campbell.Harris is credited with developing and creating the company's Internet business as a hub for online financial services. Twenty percent of Intuit's revenues over the past six months were derived from the Internet.Harris has spent seven years with the company, beginning his role as executive vice president for the tax division in 1993, and progressed to CEO in 1998.
Community News

Accounting Firms Consult to Verify Security of Web Sites

PricewaterhouseCoopers and Deloitte & Touche are two of several consultants who have lent their expertise in the Web site security arena and to the content of a report published by Plano, TX-based Entrust Technologies Inc. This is an issue CPAs should be knowledgeable about based on the CPA Vision vision statement and AICPA's WebTrust program.The
Technology

Andersen Consulting CEO Shaheen Leaves To Join New Online Company

George T. Shaheen, a thirty year veteran of Arthur Andersen and CEO of Andersen Consulting since 1989, announced his retirement from the firm to join a new online grocery and drug megastore as President and CEO, effective immediately.The Webvan Group Inc. operates a fleet of vans to deliver a wide range of groceries ordered through its website. It currently operates exclusively in the San Francisco Bay area. Webvan is backed by CBS Inc.
Community News

And Then Some

Does your firm consistently score high marks for client service? It’s that little “and then some” that clients really get hooked on. Experts say that clients come back for the “little things” companies do for them, but that clients will rarely tell you about the “little things” that drive them out the door. For example, if your receptionist is rude, that comment is not likely to show up on a client survey; however, it may cost you a client over an extended amount of time. Statistics show that you have about a 25% chance of a client complaining to you.
Community News

E&Y Named to Prestigious List for Internet Efforts

Industry Standard magazine has named Ernst & Young to its list of the top 100 Internet-savvy companies based on the Big 5 firm's technical and consulting efforts.The Standard considers E&Y and its $650 million in revenues (up $250 million from last year) to be an "I-Builder," or a champion in providing Web design and consulting services for a company's Internet clients. Named as one of the innovations is "Ernie," a mechanism by the company to provide service to clients who want to find help on their own.This is the first year for the publication's list.
Community News

Women Slowly Enter Partner Ranks

It’s official! Women are gaining partnership share in the Top 25 firms across the nation.According to CPA Personnel Report’s Annual Survey of Women In Public Accounting – 1999, women account for one to two percent of the partnership at most of the Top 25. At some firms, such as Plante and Moran in Southfield, Michigan, women represent as much as 15 percent of the partner group.But there’s still room for women to grow into partner shoes. By contrast with their partnership representation, half of the largest firms’ staffs are women.
Community News

Revenge for Stockholders: Lawsuits for the Big 5?

Deep pockets sometimes spell deep payback … and there may be no end in sight. Litigation was filed last week on behalf of Source Media shareholders against the Dallas office of Ernst & Young in what shareholders claim is negligence on E&Y's part in failing to find fault with Source's books.The suit is based on a negative turn in earnings that brought stock prices down. Stockholders found fault with E&Y because they say the Big 5 firm should have warned Source and its owners.
Community News

E&Y Wins First "ProductivityPlus" Award

Can you learn from the past employee retention mistakes ofErnst & Young?The Big 5 firm recently was recognized by Business & Health magazine for ongoing programs that "help employees balance personal and professional responsibilities." The ProductivityPlus Award focuses on how an employer contributes to the health of the workplace they create.E&Y established an Office for Rentention in 1996.
Community News

PAR Top 100 List Shows Effects of Consolidators

It's no surprise that the Big 5 are on top of Public Accounting Report's Top 100 for 1999. What may surprise you is who's not on the Atlanta-based newsletter's exclusive survey.At least 12 firms that ranked in the Top 100 in 1998 dropped off the list this year due to consolidation activity. McGladrey & Pullen, ranked as the nation's seventh-largest accounting firm last year, is one of the largest affected. McGladrey & Pullen and others didn't make the list because audit services must be offered by a firm to be included in PAR's Top 100.
Community News

PWC and Grant Thornton Confirm Merger Talks

The Wall Street Journal confirmed that PricewaterhouseCoopers and Grant Thornton held merger talks earlier this summer, but jointly decided not to pursue anything at this time.
Practice Management

One-Button Disaster Recovery Available For Small, Medium Businesses

As accounting professionals, we live and die by bits and bytes of computer data. If you lost all computer systems in your firm, do you know what it would take to get your firm back "online?"Hewlett-Packard does. The worldwide market leader in tape backup solutions just recently announced that its One-Button Disaster Recovery (OBDR) system now can be utilized by many of the leading servers used in small- to medium-sized businesses. Among those supported: Acer, Compaq, Dell and IBM. ARCserve IT for NT is scheduled to support OBDR by October.
Community News

HRB International Taps Former AmEx Exec

H&R Block expands its international tax operations today by appointing Jeffery Yabuki to the newly created position of President of H&R Block International.Mr. Yabuki will head up the company's international tax operations, with primary focus on Australia, Canada and the United Kingdom. He will also be responsible for implementing the financial services expansion stategy overseas.Mr. Yabuki was former President and CEO of American Express Tax and Business Services, and was a key player in the CPA firm acquisition strategy of American Express.
A&A

H&R Block Buys Discount Stock Brokerage

H&R Block solidified a deal Wednesday to buy Olde Financial Corp., a discount stock brokerage based in Detroit. The company was bought for a reported $850 million in cash, and is intended to provide an estimated 16.5 million H&R Block customers with a greater range of financial services.
Community News

Two Wisconsin CPA Firms Merge To Become #17 in the USA

470 person Virchow Krause & Company announced this week a merger with 150 person Schumaker Romenesko & Associates forming a CPA firm with over $70 million in revenues. The third merger for Virchow Krause in the past year, this one will move it to the position of #17 in the country, and will solidify for the firm offices across the state of Wisconsin. The resulting firm will be know as Virchow Krause & Company.
Community News

CBiz Acquires Tri-Tek Information Services

Century Business Services (CBiz) has acquired Tri-Tek Information Systems, a privately held technology services company based in St. Louis.
Community News

AICPA Develops XML-Based Language With Big 5 Accounting Firms

The American Institute of CPAs today announced a collaboration with all five of the Big 5 accounting firms to develop a new computer language intended specifically for the preparation and exchange of financial reports and data.Much has been written over the past year about the advantages of Extensible Markup Language, known as XML—a code similar in format to HTML, or the language of the Internet.
Technology

BDO Seidman Join's PeopleSoft's Alliance Program

One of the nation's second-tier accounting and consulting firms, BDO Seidman, has joined PeopleSoft's Alliance Program to provide services for the vendor's manufacturing software suite.The joint effort helps PeopleSoft increase its solutions in several business areas, including financial and supply chain management, by building on BDO Seidman's Enterprise Resource Planning (ERP) and supply-chain business knowle

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