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Community News

Final Big 5 Holdout may Need to Restructure

Less than three months ago, the Public Accounting Report published an article indicating that Big 5 accounting firm Deloitte & Touche was "bucking the trend" of restructuring and insisted that it would keep its "full service" image available to clients.However, in an article in the Financial Times this week, Jim Copeland, CEO of Deloitte Touche Tohmatsu has indicated that increasing pressure from regulators might force the Big 5 firm to consider restructuring, eliminating the ability to offer both
Community News

DT Ad Campaign Really 'Great'

On television, print advertising and other venues, it takes only seconds to capture the attention of leaders, decision makers and the business marketplace.A new advertising campaign for Deloitte & Touche is banking on the fact that featuring 'great' people who work for D&T will attract attention to the international accounting and consulting firm's services.The $15 million campaign is produced by Keiler & Co.
Community News

Andersen Divorce Delayed 90 Days

The arbitrator ruling on the separation of Arthur Andersen and Andersen Consulting has delayed releasing his findings until July 31. A decision on the split was due by the end of April.A quick end to the proceedings seemed likely after Consulting chief Joe Forehand said he was prepared to enter round-table discussions with Arthur Andersen.But a spokesperson for Andersen said that nothing further had been pursued down this path. He also warned that the profession may well hear more about the divorce from the arbitrator before the end of July.
Community News

CBIZ Revenue Up After First Quarter

Century Business Services, Inc. just released the financial results for the first quarter of 2000 and the news is encouraging for the seventh largest accounting firm (as ranked by Accounting Today).The company’s revenue rose 24% to a total of $172.1 million from $138.4 million for the three months ended March 31, 2000.
Community News

Moss Adams 'Constructs' Dominant Practice

We are seeing a continuing trend in more mergers and multi-discliplinary practices thanks to consolidation.Evidence of this is the Seattle-based accounting and financial services firm, Moss Adams, LLP, who now holds a dominant position over its competition within the construction industry.This is due to a merger with another Washington firm, Thoreson & Co., whose has mostly construction clients.Moss Adams, which generated $150 million in revenue in 1999, has more than 1,100 employees in Washington, Oregon, California and London.
Community News

RSM McGladrey CEO Steps Down

H&R Block today announced that Mark Scally, Chief Executive Officer of RSM McGladrey Inc., Block's national tax, accounting and consulting practice, is stepping down from that position. Mr. Scally will continue with McGladrey in a senior role, focusing on global business opportunities with the firm.
Community News

PWC Creates VeriSign Competitor

PricewaterhouseCoopers has developed its own digital certificate system to compete with market leader VeriSign.The new company is called 'beTrusted,' and is based in Columbia, MD with 120 employees.
Technology

Andersen Signs on With Telemate.Net

Arthur Andersen just announced that it has signed on with Telemate.Net to beef up the Big 5 firm's technology and e-Business risk consulting services.Telemate.Net offers software that tracks Internet usage.
Practice Management

Accounting Firm Profitability

This is the fourth in a series of editorials by Results Accountants' Systems.MAKING YOUR PRACTICE MORE PROFITABLEAccounting businesses are mature industry. There is intense competition for clients which is typical when the principal services offered in the industry have a very generic look and feel about them. Clients are able to drive prices down because switching costs are relatively low.Accounting firms have very similar cost structures to their intra-industry competitors.
Community News

Clothes Make Arthur Andersen a Dotcom Player

Everyone and his mother are vying for attention on the Internet, and Arthur Andersen is no exception.The latest entry for the firm in the dotcom consulting marketplace is to consult for Jos. A. Bank Clothiers--a popular mainstay in men's and women's clothing--when the retailer takes its clothing onto the Web with its new site, www.josbank.com.Andersen, along with CommercialWare and InterWorld, will provide services in e-Commerce and general e-tailing venues to smooth the e-Commerce transition.
Community News

Former AmEx Exec Joins 1st Global

Tony Cord, formerly Vice President, Mergers & Acquisitions for American Express Tax & Business Services, Inc., has joined 1st Global as Director of National Business Development.Mr. Cord was a key player in the accounting firm consolidation efforts of American Express over the past few years. 1st Global, Inc., is a development partner for leading CPA and tax firms seeking to successfully integrate a comprehensive financial services business into their accounting practice. As Director of National Business Development for 1st Global, Mr.
Community News

PWC Picks up Huge Nortel Contract

The wave of outsourcing is still a hot commodity, and PricewaterhouseCoopers has capitalized on making outsourcing a key part of its business strategy.This week, Nortel awarded PWC a five-year, $625 million contract to handle the company's business process outsourcing. The international telecommunications giant rationalized the outsourcing process as a way to increase its own productivity by having another entity handle routine business practices.
Practice

Busy Season Stress Busters

Looking for ways to ease your firm through the next two weeks of busy season with minimal stress? AccountingWEB invited members to share their ideas in an online workshop on busy season stress busters, and got some pretty good ideas!Read through the transcripts of the session for details, or scan through some of the best ideas below. Either way, be sure to tap into the brainpower of the AccountingWEB community and finish up tax season with a smile on your face! 
Community News

E&Y Partners Overwhelmingly Support Merger

Ernst & Young partners overwhelmingly support a merger of the firm's consulting division with consulting giant Cap Gemini, according to published reports.With a 98% approval vote of E&Y Partners, the road has been paved to create a worldwide consulting firm consisting of 58,000 employees with annual revenues over $7.5 billion.The $11 billion merger would free E&Y from independence issues faced by the accounting firm, and would create the mechan
Community News

Eighth Largest UK Accounting Firm Chooses CMS Open

For more information contact Jobst ElsterTallahassee, FL- March 6, 2000 -- Solution 6 Holdings Limited (ASX:SOH), the world’s leading provider of IT solutions to professional service firms, today announced that Pannell Kerr Forster, the eighth largest firm of accountants and business advisors in the UK, has purchased CMS OPENâ for use throughout all of its UK offices. CMS OPEN is the global practice management and time and billing software system produced by CMS/Data Corporation, which was acquired by Solution 6 in October 1999. P
Community News

The Keys To Differentiation

Suzanne Lowe, President of Expertise Marketing, recently led a workshop for AccountingWEB entitled Differentiation: The Key to Success For Accounting Firms.The workshop was based on the results of the firm's study "Differentiation: How Are Professional Service Firm
Technology

PWC Says 'No' to SEC Big Brother Campaign

PricewaterhouseCoopers has said this week that the firm definitely would not participate in a bid process identifying firms that could help the Securities and Exchange Commission monitor Web sites.PWC said the SEC's online version of 'wire tapping' might invade the privacy of otherwise innocent people. The accounting firm, along with more than 100 other companies, were invited in January to submit a bid on an automatic surveillance system.The SEC is collecting data from online chat rooms, Web sites and forums to identify potential fraud schemes.
Community News

CPA/Client Confidentiality Preserved in Colorado

A few months ago, AccountingWEB followed with interest the question before the Colorado legislature about CPA-client privelege.
Community News

Consolidators in UK: Tenon Closes In

While the United States has its own success stories and horror stories about consolidators like American Express and H&R Block, the United Kingdom is witnessing its first wave of a business model similar to these giants.The Tenon Group has been formed to acquire accountancy practices and advisory services' practices, and plans to build the business into a powerhouse with revenues greater than $100 million pounds.But the real news lies in the fact that Tenon will be a publicly traded stock--a real departure for the U.K.
Community News

Micro Vision Signs Deal for Financial Services

Micro Vision Software, a longtime player in the accounting software marketplace, and LM Financial Partners, have signed an agreement to make it easier for accountants to enter the financial services arena.The new company is called ProAdvisors Financial Services, and is designed to help Micro Vision's 6,000 clients/accountants make a transition to financial services offerings by providing securities registration capabilities and marketing of products.

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