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Plante & Moran Finalizes Chicago Merger

The finalization this week of the merger between Plante & Moran – the nation’s tenth largest accounting firm – and Gleeson, Sklar, Sawyers and Cumpata creates a firm with powerful resources and strong capabilities for middle-market companies.Plante & Moran is the only firm among the top 10 in the nation to have achieved that ranking through focused growth in the Midwest.
Community News

Cap Gemini Ernst & Young Set to Drop E&Y Name

Cap Gemini Ernst & Young is using two behind-the-scenes guys to show how its newly named "Capgemini" will boast the same results for your business.The Paris-based consulting and technology services firm will embark on a $60 million advertising campaign featuring Andre Agassi’s coach and David Bowie’s sound engineer as spokesmen. Capgemini faces a May deadline to remove the Ernst & Young portion of its name, as part of its 2000 purchase of E&Y’s consulting arm.
Community News

Regional CPA Firm Delivers New Consultative Service 'Commitment to Excellence'

William F. Gurrie & Co., Ltd. (Gurrie), a CPA and consulting firm, located in the Chicago area, announces a new service to help ensure Illinois governments, as well as businesses in Illinois and Indiana, will achieve their greatest performance potential. Gurrie, along with other U.S. CPA firms, has helped develop a continuous improvement process known as Blueprint for Excellence.

IRS Announces Audits of Credit Counseling Companies, FTC Files Suit

The Internal Revenue Service (IRS) is auditing more than 30 nonprofit credit counseling companies as part of a wide-ranging investigation into business practices in the $1 billion industry."This is an unprecedented effort by the IRS and one that is fully justified," said IRS Commissioner Mark Everson.
Community News

Survey Reveals Clients Deeply Dissatisfied With Professional Service Providers

Despite efforts at reform brought about by corporate governance concerns and the Enron accounting scandal, corporate executives remain deeply dissatisfied with the work product provided by their accounting, legal, IT and other consultants according to a new survey. As a result, according to the survey, 1 in 9 professional services or consulting relationships could be terminated in the next 12 months.

Survey Reveals Executives Seeking Results-Oriented Consultants

In a first annual survey "Management Consulting in the USA 2003" eight of ten U.S. senior executives say they're looking for consultants to become more results-oriented and to deliver more quantifiable outcomes. 66% say they're pressing consultants to complete projects in shorter timeframes.

BearingPoint Restates Earnings, Faces Legal Action

At least six lawsuits have been filed against BearingPoint, the former consulting arm of Big Four firm KPMG, after the firm recently restated earnings.BearingPoint lowered its earnings by $10.8 million for the first three quarters of fiscal year 2003 in a Form 8-K filed with the Securities and Exchange Commission last month.
Community News

Former PwC Consulting Hirees Win Class Action Suit

PricewaterhouseCoopers Consulting has reached a financial settlement with 273 consultants who were hired but not employed by the consulting firm.The settlement came as a result of a class action suit filed in Washington D.C. Superior Court last fall. Megan Secrest, lead plaintiff in the case, was hired by the Washington D.C. office of PwC in 2001. After moving to D.C. she was informed there was no job. She received no compensation from PwC, not even her $7,000 signing bonus that was part of the employment contract.Ms.

This Synergy Will Incentivize Your Company's Paradigm - Say What?

Tired of modern buzzwords that crop up in business reports? So are the folks at Deloitte Consulting. In fact, they're so tired of reading indecipherable buzzwords that they decided to do something about it.Today the company releases a new software program, "Bullfighter," designed to seek out troublesome corporate jargon and replace the words with plain English."We've had it with repurposeable, value-added knowledge capital and robust, leveragable mindshare," said Deloitte Consulting partner Brian Fugere.

Consultants For Your Clients...Common Interest Allies? Competitive Enemies?

By Leonard Leff, President of the CDS Companies, based in Lynbrook, New York. Many times an accountant’s clients from the small business sector are under a great deal of pressure. These diminutive enterprises are struggling to make sales, bring in revenue and devise ways to expand their operations, while keeping up with all of the required payments: everything from taxes, fees, monthly obligations, payroll and more. As promising as the outlook for said business may appear to look, real problems and issues often driven by a need for regular cash flow remain constant.
Community News

Aquila to Leave American Express, Joins The Growth Partnership

August Aquila, a critical force in the consolidation movement since the early 1990s will leave American Express Tax and Business Services (TBS) after nearly ten years of service and join St. Louis based The Growth Partnership (TGP) effective July 4, 2003. August joined TBS as the Regional Field Vice President and most recently held the title of Vice President - Mergers & Acquisitions.

Providing Financial Services - Avoiding The Ten Traps

A few years ago, one of my clients decided to get into the lucrative business of financial services. After all, financial services companies have been competing with CPAs in the accounting and tax business for years. Partners selected one owner to become the financial services “guru” for the firm.
Community News

Accenture Reports Favorable Second Quarter Earnings

Defying analysts expectations, Accenture, Ltd announced that its fiscal second quarter earnings increased tenfold compared to last quarter, but revenues trailed off slightly.Accenture, Ltd reported net revenues of $2.83 billion, representing a three percent decline over net revenues from last year.
Practice Management

Marketplace Starts Reacting to Deloitte’s Consulting Decision

Deloitte’s decision last week not to separate its consulting arm is beginning to show its affects in the marketplace.Because of perceived independence issues, General Motors Corporation has announced that it will pull all of its consulting work from Deloitte, a move that amounts to a loss to the accounting firm of about $80 million worth of work.Last week, Clorox and Auto Nation – who are both audit and consulting clients of Deloitte - announced that they would begin shopping for a new auditor.Despite all of the recent scrutiny on the perc
Community News

PwC Chief Criticizes Deloitte’s Decision to Keep Consulting

In a rare display of public discord among the Big Four firms, Samuel DiPiazza, chief executive of PricewaterhouseCoopers, has expressed concern over rival Deloitte Touche Tohmatsu’s decision to keep its consulting business in house, instead of selling it off as the other large firms have done. He believes that decision shows a "lack of sensitivity" and runs counter to other firms’ efforts to help restore the profession’s integrity.In an interview with the Financial Times, Mr.
Community News

Andersen Appeals Obstruction of Justice Verdict

In an 85-page brief submitted to the U.S. 5th Circuit Court of Appeals, lawyers for former Big Five accounting firm Arthur Andersen LLP presented reasons why they believe the appeals court should overturn Judge Melinda Harmon's guilty verdict on the obstruction of justice charge issued last year.Several reasons for overturning the verdict were noted in the appeal:Judge Harmon made evidential rulings that prevented Andersen's attorneys from presenting evidence of documents that Enron auditors preserved.
Community News

Forget Braxton, Deloitte Shelves Plans to Segregate Consulting

Big Four firm Deloitte Touche Tohmatsu has announced that plans to break off its Deloitte Consulting arm into an independent company have been tabled. "We began this process at a time of more robust consulting, capital and credit markets - all of which have deteriorated in the past 14 months, due to economic uncertainty exacerbated by the war in Iraq," said James E.
Community News

IBM Consulting Regains Former PwC Clients

It’s been nearly six months since IBM finalized the acquisition of the technology consulting division of PricewaterhouseCoopers (PwC). Over the months, PwC has been wooing back former PwC clients that left the consulting firm before IBM’s acquisition. The "winback" program has been a success, with IBM winning back 70 percent of the consulting clients that were lost.The PwC acquisition added to IBM’s client base, boosting the consulting division by 56 percent. As a result, IBM is now the largest consulting firm in the world.
Community News

Deloitte Consulting Readies Launch of Braxton

While the official launch date is still pending, Deloitte Consulting, soon to be rebranded as Braxton, is putting the final polish on its new Web site and logo. The Web site,, now features only a link to the Deloitte Consulting site. Soon the site will be unveiled with news, research information, and links to Braxton offices and personnel.The new company logo consists of the word Braxton and a small red and yellow badge, much like a coat of arms.

CA Attorney General Warns of 'Living Trust Mills' & Annuity Scams

California Attorney General Bill Lockyer warned California consumers to be on the lookout for "living trust mill" con artists who fraudulently sell trusts and annuities to senior citizens.Sales agents for these scam operations often misrepresent the disadvantages of seniors' current investments and the advantages of the investments the agents are selling. They may even make seniors believe their bank accounts are less safe than the annuities or other investments they want seniors to buy.


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