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EY Uses CareerBuilder to Recruit New Employees

As a way to recruit new employees into the firm and maximize its efforts, Ernst & Young will post more than 600 new jobs each month through the CareerBuilder network and its affiliates.Since the firm began using the online recruiting Web site, the number of applicants has dramatically increased by 3,000.
Community News

Short-Term Needs Solved with KPMG 'On-Call Advantage'

Executives with short-term consulting needs may now tap into KPMG's newest effort at providing immediate solutions.Termed 'On-Call Advantage,' KPMG styled this program to provide outsourcing services for a variety of business and management tasks, and is using this outsourcing technique as a way of keeping clients' overhead at a minimum.The activities that fall under the umbrella of this new consulting program include finance and accounting outsourcing, policy and procedure manual preparation, restructuring assistance, consultation on executive compensat
Community News

PwC Once Again Faces Independence Problems

PricewaterhouseCoopers has been accused of signing off on erroneous financial statements of MicroStrategy Inc., a PwC audit client as well as supplier of software products that PwC sells to some of its other clients.
Community News

Former PwC Clients Will Debate, Share Stories at new Portal

Facilitating employee feedback, idea sharing and lots of personal services is very hot these days, as more and more employers look for ways to retain and attract good staff in a market teeming with low unemployment.PricewaterhouseCoopers is spinning off its HR consulting practice to Unifi Network LLP, but the bigger news is that Unifi will create portals for current and prospective clients who want to help their employees air their grievances, share stories and provide a company culture.The portal is expected to go
Community News

Bueno! KPMG Begins International Tax Centers

KPMG is embarking on a new effort to serve clients on a global basis by implementing new U.S.-based tax centers.Called 'International Tax Centers of Excellence,' efforts are already underway to serve clients in Latin America, Belgium, Luxembourg, Germany, and Spain, and plans are in teh works to include the United Kingdom, the Netherlands, and France.Speaking the language and understanding cultural issues are key in this new venture. As an example, the Americas Center will serve as a tax resource to clients who are doing business in Latin America.
Community News

SEC Offering Amnesty for Independence Violations

The SEC has initiated a look-back program in which all participating accounting firms will subject themselves to independent scrutiny of their financial independence with regard to their audit clients. Participating firms as well as their clients will be provided with a safe harbor from enforcement unless certain serious violations occurred.The look-back program is entirely voluntary, but it is hoped that the amnesty incentive will provide the necessary encouragement for firms to participate.
Community News

KPMG Bets Big Bucks on ad Campaign

J. Walter Thompson is the fortunate recipient of the $90 million KPMG international advertising account.Competitors making the final cut included BBDO and Bates USA, but Thompson was chosen to handle the Big 5 firms' global branding and advertising of services. The first campaign will be ready for the fall.The new campaign will include the firm's four core services in assurance, tax, financial advisory and consulting.
Technology

E-Trade & EY: Match Made in Financial Heaven?

It has just been announced that Internet securities broker E-Trade and Ernst & Young will partner to form a new venture handling financial advisory services.Each company will put up $25 million for the new company, which has not yet been named.
Community News

National Law Journal Features new CPA Column

Earlier this week, AccountingWeb published a story regarding the overwhelming number of lawyers working in CPA firms.The media also recognizes this trend, and beginning next week, the National Law Journal will begin a new column devoted to accounting-related issues within the Big 5 firms.The column will include information on the Big 5 firms and how lawyers affect the practice of law and accounting.
Community News

Legal Eagles Stack up in Accounting Firms

The accounting profession hasn't gotten to where it is by resting on its laurels. For years, the Big Five firms have known that it is less expensive and more efficient to have lawyers on staff rather than engage lawyers outside the firm.Now, someone has actually counted the numbers and the Big Five wins!
Community News

Lack of POB Funding Hurts Inquiries?

Following the Securities and Exchange Commission's investigation last year of independence issues at PricewaterhouseCoopers, the SEC vowed to investigate other Big 5 firms to ensure independence is not sacrificed.Now, however, lack of funding of the Public Oversight Board (POB) by the AICPA may jeopardize that investigation, and the SEC is not pleased.
Community News

Is Cap Gemini Really Ahead When it Acquires EY's Tech Practice?

Cap Gemini today received the approval of the European Commission to purchase Ernst & Young's Ernst & Young's Global Consulting and IT activities.While analysts previously have predicted that this step moves the European giant one step further in strengthening its consulting services across Europe, the Commission disagreed.Instead, the Commission stated that technological innovations will become more important than who actually 'owns' the business, and that the market will remain fragmented because innovations are hap
Community News

Two Top-Tier Firms Near A Merger

The Electronic Accountant reports that Southfield, Michigan-based Plante & Moran and Indianapolis-based Olive -- both powerful top-tier CPA firms in the midwest -- are in merger discussions.A combined firm would be ranked #12 in the US, with 25 offices, revenues of approximately $175 million, and a staff of over 2,000.Merger discussions are currently underway, but no formal announcement has yet been made.
Community News

E&Y Names New Leadership

Philip Laskawy, current Chairman and CEO of Ernst & Young, has announced a new generation of leadership for the Big 5 firm when he retires at the end the end of next month.The new Chairman will be Jim Turley, 44, currently area managing partner for metropolitan New York.Richard Bobrow, 46, currently the firm's senior vice chair for assurance and advisory business services, will assume the position as CEO."Jim and Rick represent the youth, energy and dedication that will carry Ernst & Y
Community News

Ernst & Young Buys Lobbying Firm

Big 5 firm Ernst & Young has stepped into Washington politics by buying the advocacy and lobbying firm Washington Counsel. The firm is managed by a bipartisan group of Capitol Hill lawyers, and is among the top 10 largest lobbying groups in Washington.Why does E&Y want to own a lobbying arm? The $9 million lobbying firm represents many big name clients, including such giants as Merril Lynch, Ford, Charles Schwab, etc.
Community News

BDO Spins Off Consulting Division

BDO Seidman has announced that it will spin off its Business & Technology Solutions consulting practice into a separate company, named Wavebend Solutions, LLC.The consulting practice was launched by BDO Seidman five years ago, and has exhibited strong and steady growth in the ensuing years.Spokesmen for BDO indicate that the move will allow the consulting practice to continue its strong growth in today's environment, which has recently been hit with a wave of spin-offs of consulting businesses from traditional accounting firms.
Community News

Intel/PwC Join for Hosting Services

Intel Online Services and PricewaterhouseCoopers have announced a strategic collaboration in which the two companies will provide hosting and e-business services to PwC clients and customers.The service already is available in the United States, while services in the United Kingdom will be available later this year.
Community News

Lack of Temp Workers Spurs Consolidation

Now that tax season is over, the push for temporary personnel from firms like Accountemps and Robert Half isn't so bad. Nonetheless, alarming trend in a lack of applicants has hurt the overall staffing business.Unemployment is at an all time low, and this does not bode well for this huge industry.
Community News

KPMG Consulting Files for $1 Billion IPO

In yet another effort to capture a larger piece of the pie, another Big 5 consulting firm has made the news, this time by filing for a $1 billion IPO.The firm is KPMG Consulting, Inc., whose main gig is to help companies with their Web strategies. The money gained from shares of stock will be used by the firm to provide working capital, repurchase preferred stock and repay outstanding debt.The venture is being financed by Wall Street giant Morgan Stanley Dean Witter. KPMG Consulting is based in McLean, VA.
A&A

Crowe Chizek Forms Investment Banking Subsidiary

Crowe, Chizek and Company LLP, a leading accounting and consulting firm, today announced the formation of Crowe Chizek Capital Markets LLC. The wholly-owned subsidiary will provide investment banking services with a focus on sales and divestitures of closely held businesses with transaction sizes less than $100 million.

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