To the Rescue: CPAs Advise Failed Dot.coms
Last week's news about the demise of online retailer boo.com has fueled a discussion in the United Kingdom that a new service line for accountants is literally waiting to happen: the rescue of the dot.com.
What's it all about? CPAs and accountants (chartered accountants in the UK), can provide financial advice to failed or struggling online businesses. The key is to identify which businesses failed to meet financial objectives early enough in the cycle to help them out for the long term - not just for the immediate future.
Already, KPMG has advised on about 10 cases, while Deloitte & Touche has counseled between five and 10 clients.
Stay tuned - it's probably just a matter of time before this is identified as one of the key assurance services.
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Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
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