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E&Y Terminates Audit Relationship Before Being Fired

Big Five firm Ernst & Young participated in a Keystone Cops-type audit escapade with its client, Health Risk Management, Inc., before quitting the engagement abruptly, and apparently, just before being relieved of its duties.
Community News

First Annual HeadWaters Leadership Conference

Upstream Academy, founded by Sam M. Allred, CPA, announces the first "HeadWaters" Leadership Conference, scheduled for July 9 & 10. "This caliber and variety of management training has been unavailable anywhere in the profession prior to now," Allred says. The fundamental purpose of HeadWaters is to enhance the ability to lead others during times of change to accomplish extraordinary things within your firm.
Community News

SEC Accuses Former Andersen Partner of Fraud

The Sunbeam Corporation continued to cast a murky shadow over Andersen this week when the Securities and Exchange Commission sued Andersen's lead partner on the Sunbeam audit in connection with an alleged massive financial fraud. The Big Five firm has already paid out $110 million in a no-blame agreement with shareholders after a class action suit alleged fraudulent financial reporting and accounting practices under former Sunbeam management led by Al Dunlap. Now Mr.
Community News

Attracting and Retaining Talent in Your Firm - Helpful Tips

Small CPA firms face a challenge in today's competitive employment market. Quality accounting professionals are a hot commodity, and smaller firms often lose candidates to the big starting salaries and name recognition at larger firms. What can smaller firms do to be competitive? Be creative. There are many programs and policies that can turn small firms into aggressive competitors in the hunt for CPAs.Get your firm in the public eye.First, get involved with the community to establish name recognition.
Technology

How to Select A-Level Clients

Much has been written and spoken regarding the wisdom in selecting quality clients to work with and also firing those clients who are habitual abusers of your firm's resources. This article will help with the process of identifying the characteristics of A-Level clients and how to design and implement a client screening process into all areas of your firm.Over the past ten years, I have spoken with hundreds of CPAs and IT professionals regarding building a profitable technology consulting practice.
Education & Careers

A New Bottom Line for Next Generation Accountants

Research conducted by Robert Half International, Inc.
Practice Management

PWC CEO Unexpectedly Announces Plans To Step Down

James Schiro, 55, CEO of PricewaterhouseCoopers, has unexpectedly announced his plan to step down as soon as a successor can be found. During his tenure as CEO, Mr. Schiro oversaw the 1998 merger of Price Waterhouse and Coopers Lybrand, as well as the 2000 failed attempt to sell the firm's consultancy practice to Hewlett-Packard.
Community News

H&R Block Settles $21 Million Class Action Suit

H&R Block has agreed to pay $21 million in settlement of a class action lawsuit that was brought against Olde Discount Corp. Olde was acquired by Block in 1999. The former Olde Discount Corp. is now known as H&R Block Financial Advisors. The Arizona lawsuit dates back to 1996.The lawsuit challenged Olde's advertising of commission-free trading programs.
Community News

Understanding The Benefits Improvement & Protection Act

The Benefits Improvement and Protection Act of 2000 (BIPA) Understanding the Opportunities CreatedPresented by Mike Stigler, CPA, FHFMADirector, Blue & Co., LLC.Contact Mike at mstigler@blueandco.comMay 10, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.SummaryThe Benefits Improvement and Protection Act of 2000 (BIPA) is the second round
A&A

Leading Organizational Change

Today's economy is typified by change, but is this anything new? An ancient Greek philosopher is quoted as having said, "There is nothing permanent except change." And that was thousands of years ago.Change is here to stay, and to survive we must all understand it, embrace it, and learn to use it to our advantage. Your human resources and change management strategies can have a significant impact on the organization's bottom line and you must ensure that your workforce is flexible and responsive in order to meet changes in market and business demands.
Community News

Upcoming Practices – What is Eldercare?

The Aging of North AmericaThe North American population is aging. Improved diets, sanitation and medical care are contributing to more people living longer lives than at any time in history. In the late 1700’s life expectancy at birth was only 35 years. This increased to 47 years by 1900 and 78 by 1991.In addition to this, the percentage of persons age 65 years and older to the entire population will is expected to increase from 12.3% in 1998 to 22.7% in 2041.The majority of the elderly are women.
Community News

PwC to Pay $55 Million in Class Action Suit

Big Five firm PricewaterhouseCoopers has been embroiled in a lawsuit with MicroStrategy Inc.
Community News

Accenture and HP Form Alliance

Hewlett-Packard Co. may have given up on last fall's negotiations to acquire the consulting practice of PricewaterhouseCoopers, but the desire to expand its consultancy services hasn't waned. On Tuesday, the firm announced an alliance with Accenture, and the combined group has plans to eat away at an IT market monopolized by IBM.
Community News

Keep Your Business Growing-Get Ideas From Your Staff

Is there anyone who hasn't worked for a company that has tried the "Suggestion Box" method of soliciting ideas? When it comes down to it, besides the owner, company employees know a company best and can offer the most worthwhile ideas for improvement.
Community News

Andersen Settles with Sunbeam: $110 Million

Big Five firm Andersen has reached a $110 million settlement with Sunbeam shareholders in a lawsuit over work performed for the appliance company. The settlement covers stockholders who purchased options in 1997 and 1998.Sunbeam underwent a two-year SEC investigation of its accounting practices, and the company's stock, which had plummetted from $53 per share in March 1998 to pennies per share earlier this year, is no longer trading.
A&A

Do You Rise Above the Competition? Quiz Yourself

There are a number of skills and personal characteristics that top accounting services marketing associates share in common. In today's competitive marketplace, you need to do all you can to differentiate yourself in terms of winning new clients. Each question in the following quiz is based on the results of a study of 100 top-producing marketing reps that was conducted during the writing of Building a Profitable Online Accounting Practice by The Accounting Guild in Las Vegas, NV. Answer each question yes or no to determine how well you stand out compared to the competition.
Community News

PwC Faces More Staff Cuts, Restructures Workforce

Not long after announcing cuts of approximately 1,000 members of the consultancy staff at U.S. PwC locations, the firm is back in the news with more pink slips. This time, it's the back office functions - mailroom and clerical jobs - that are being reduced.The work required of these positions is not being cut, but the people remaining on the jobs will have consolidated responsibilities.
Community News

More Merger Talk Among Big Five

Joseph Berardino, Andersen CEO, has indicated that the firm plans to consider the option of a merger at a partners meeting scheduled for later this year."We need to take an honest to God look at what a merger does to us, for us, or against us," said Mr. Berardino.
Community News

Deloitte Welcomes Daughters Today

It's Take Our Daughters to Work Day, and for the eighth consecutive year Deloitte & Touche is a national sponsor of this Ms. Foundation event. As an active participant in the event, Deloitte expects to host more than 700 young women in its offices nationwide.Symbolizing the firm's commitment to advancing women in the workplace, Deloitte takes special pride in its annual opportunity to introduce young women to the world of business and professional skills.
Community News

Rapper Settles with PricewaterhouseCoopers

In a much-publicized and now highly-secretive lawsuit, the Grammy-winning rapper and record producer Andre "Dr. Dre" Young accused the Big Five accounting firm of PricewaterhouseCoopers of diverting cash from his accounts and giving it to other PwC clients. Mr. Young is the co-founder of the Death Row record label.The lawsuit accused PwC of fraud and breach of contract of fiduciary duty, and claims Mr.

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