• Archive for the ‘The Big 4 And Consulting’ Category

    An Honest Services Crisis: Professional Poison and a Chicago Connection

    By • Mar 30th, 2011

    The Big Four, off and on, have had some of the largest global consulting practices across most categories.The larger an organization gets, the more its staff takes on the average characteristics of individuals within the markets it serves. Mark O’Connor of Monadnock Research presents a guest post on the special risks posed by Big 4 audit firms who provide consulting services.

    Inside The Mind of An Inside Trader

    By • Mar 5th, 2011

    The SEC has accused one of the most prominent businessmen ever implicated in such crimes, Rajat Gupta, a former McKinsey & Company Global Managing Director, of insider trading. It’s understandable that, in the heat of this moment, some might naïvely compare the consequences of the criminal indictment of an audit firm with civil charges against an individual, albeit one who trades on – pun intended – his association with a prestigious professional services firm. It’s not the same thing.

    Update: Auditors and Consulting: Claims Of No Conflict Strain Credibility

    By • Mar 2nd, 2011

    Big 4 audit firms are focusing on growth in their global consulting businesses but the conflicts that drove three out of four of the firms in the US to sell them after Enron are a bigger problem than ever before.

    Guest Post: Is Assurance Required For XBRL- Based Financial Reporting?

    By • Jan 16th, 2011

    Another in a continuing series on XBRL, an open standard for exchanging business information between systems.

    The XBRL Mandate: Opportunities, And Threats, For Non-Big 4 Auditors

    By • Jan 2nd, 2011

    In 2011, the vast majority of public companies – those with market caps under $75 million – are required to file their 10-K and 10-Q with the SEC in XBRL for the first time. Is this another mandate translating into more business for the Big 4 or an opportunity for other audit firms to specialize and capitalize? A guest post from Daniel Roberts.

    @Forbes: Did Deloitte Compromise Independence in the McClellan Insider Trading Scandal?

    By • Dec 8th, 2010

    Didn’t want to make you wait until Friday for this one.
    The world of private equity, mergers and acquisitions advisory, and transaction services is a small one. Mix in troubled company restructuring, the turbo-charged atmosphere of Silicon Valley, and high tech, and the stew is a spicy mix of people and deals.

    HBOS, KPMG and Their Problematic Whistleblower

    By • Dec 5th, 2010

    KPMG, external auditors for HBOS, were front and center in the controversy over written testimony from Paul Moore, HBOS’ former head of regulatory risk and a former KPMG partner. A guest posting on February 19, 2009 over at The Financial Times’ FT Alphaville blog.

    The Big 4 Pro-IFRS Campaign Has Flaws

    By • Nov 20th, 2010

    “IFRS For Everyone” is not just another well-crafted campaign for a government-sanctioned “next big thing” to sustain the Big 4’s untenable, unsustainable, obsolete business model that produces a, purported by some, worthless product. The Big 4 are bringing their best and brightest minds, from all over the world, to the US to evangelize their colleagues and transform their clients. Deloitte has partner Nick Difazio on the job.

    Marin County Dumping SAP. Still Suing Deloitte. Stay Tuned.

    By • Sep 6th, 2010

    Marin County’s suit against Deloitte is a “game changer,” one “that has the potential to reshape important aspects of the systems integration business…” Now they’ve decided to dump SAP and ZDNet”s Michael Krigsman thinks that move may be motivated more by the lawsuit than by sound strategy.

    PricewaterhouseCoopers Trying To Buy Consulting Revenue Again With Diamond Deal

    By • Aug 26th, 2010

    When Mark O’Conner of Monadnock Research asked for my initial reaction to the deal I had to admit I hadn’t thought much about it. Diamond Technology, a true-blue Chicago born and bred company, is small potatoes. They never achieved the billion dollar revenue goals the founder had envisioned. PwC has potentially bought a pig in a poke.