Consulting

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

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

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.

The Intellectual Property of Harry Potter

Many CPAs and accounting professionals who work in intellectual property will be glad to know that the basic, ethical rules of retaining ownership held the test of time with regard to Harry Potter.Last March, just after it was announced that a film version of the first Harry Potter story would be made, companies began registering Internet domain names - 107 to be exact - to capitalize on the success of the book and potential movie.Time Warner, who owns the marketing rights to Harry Potter, took the matter all the way to the United Nations’ World Intellectual Property Organization, the

Denver Finance System a Cost Blunder

The City of Denver had not updated its financial services systems since 1979 - more than 20 years ago. Given that fact, how much would you expect to pay to update your system, and how much of the money would you expect to go to consultants?Denver certainly is glad it updated the system, and the new one is called "ASPEN" - All Systems Performance Enhancement Network.
A&A

A Fork in the Road for Financial Consultants

Financial consultants favor one of two work environments: the product-based company or the professional services firm.

Ernst & Young Announces the Launch of Innovative Trend

Cap Gemini Ernst & Young has announced the launch of its Center for Enterprise Creation, a service which will assist corporations in their quest to re-purpose, leverage, and monetize assets of the new milennium such as brand, people, and customers.The Center will provide services covering all aspects of an enterprise launch including strategic planning, technology architecture, operations definition, organization design, systems development, user experience design, temporary office space, and administrative support with a co-creation mindset.The Center's goal is to assist in exploring gr

KPMG Consulting Involved in $50 Million Lawsuit

CarsDirect.com has filed a $50 million lawsuit alleging that KPMG Consulting "knowingly misled" the online auto store about customer-tracking software, the LA Times reports.The Internet firm says that KPMG, which had advised CarsDirect.com to change its customer-tracking software to a more advanced system, caused "significant operating losses" at the firm.KPMG plans to defend itself, the newspaper reports, and demand the online firm pays the outstanding $1.2 million balance on its bill.

SEC Issues Final Rules on Auditor Independence

The SEC voted unanimously to approve new guidelines for auditors. Four of the Big Five firms acquiesced in accepting the rules, KPMG being the hold out firm that still feels the rules are unnecessary.

Get Ready for Accenture Advertising Splash

Get ready for one of the largest advertising campaigns ever produced for Accenture, the new and improved Andersen Consulting.Executives plan to spend $175 million between January and March in a series of print ads in business-related newspapers, and on television with more than 6,000 commercials in eight countries.

Big Five Win Concessions on Eve of SEC Vote

The Securities and Exchange Commission (SEC) has indicated it will back off from its demand that major US accounting firms sell off their consultancy arms, according to a report in the

HP Drops Bid for PwC Consulting

In a surprise announcement, technology giant Hewlett-Packard stated it has withdrawn its bid to purchase the consultancy arm of PricewaterhouseCoopers.HP had previously indicated its desire to purchase the consultancy company for $18 billion in cash and stock. The acquisition would have provided HP with a highly trained force of nearly 31,500 technology and business consultants.

KPMG to Delay Consultancy IPO

The initial public offering of KPMG's consultancy business, which was covered extensively in the press earlier this year, has been delayed until probably early 2001 according to sources close to the firm.The primary reason for the current delay is the current volatility of the markets, a situation unlikely to end until sometime next year. Previously this year, the firm had held off on floating the stock due to the uncertainly concerning negotiations with the SEC regarding the role consultancy is to play in the future of the accounting profession.

How to Manage a Consultant

What's the role of the outside consultant(s) in your organization, and how do you manage this role? Have any of these situations happened to you? The firm implies that high-level, seasoned consultants will do the work, but then replaces them with greener staff.

Special Report Covers Public Company & Software Valuation

Most of us may take the impact of the software industry for granted, but according to sources, this one business sector contributes more to the U.S.
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.

SEC Takes One Step Back

SEC Chairman Arthur Levitt has indicated his willingness to take steps toward "mending and renewing the relationship between the SEC, the AICPA, and the [accounting] profession" in an address Tuesday to members of the American Institute of Certified Public Accountants.Levitt has been in the news repeatedly over the past year regarding his pro
Community News

Grant Thornton to Sell E-Business Consulting Practice

Grant Thornton LLP, the leading U.S. accounting tax and management consulting firm serving middle-market, entrepreneurial companies, has agreed to sell its 450-person e-Business consulting practice to Hitachi Ltd. for approximately $175 million.Grant Thornton had announced plans last February to sell its e-Business Consulting Group. The consultancy group, headquartered in Dallas, enjoys annual revenue of about $90 million and has 15 U.S.
Practice Management

40 Steps to Becoming a Trusted Advisor

David Maister, author of "The Trusted Advisor," joined AccountingWEB in an online workshop today for a unique perspective of what it takes to become a successful advisor in today's competition-rich professional world.

Andersen Consulting Considers Partial IPO

Newly-divorced Andersen Consulting is considering a partial initial public offering, according to reports.The firm's partners voted to look into the possibility of an IPO, which could see the entire company valued at $25-30 billion.AC managing partner Joe Forehand told the Wall Street Journal that the firm needed to raise capital so it could fully embrace the demands of the New Economy.

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