Aug 28
Saturday
Deloitte to be world’s biggest accountant
John Connolly, Deloitte’s global chairman and dubbed “the UK’s best paid accountant” made £5.1m, down just 1pc from 2008.
“Our guys are financially very well rewarded and that’s because the firm has done well. Only 2008 was a bigger payer to partners,” he said.
According to Mr Connolly, when Deloitte publishes its global results in October the firm is set to reveal it has overtaken PriceWaterhouseCoopers to become the biggest of the “Big Four” accountancy houses globally.
However, Mr Connolly, who is set to retire in 2011, predicted the current financial year could prove even more successful despite describing future growth in the wider economy as “low and slow”. “We have already done very well in the first quarter of this year, so I expect we shall return to double-digit growth. The M&A market has started to get much busier and our tax business is growing well again. Changes in regulation also mean good business for us.”
The corporate finance division grew by 10.6pc, while revenues were down 2.9pc in audit and 4pc in consulting. The purchase of Drivers Jonas, as well as continued strength in the restructuring services – which included advising Dubai World, Jarvis and the Resolution Committee in Iceland – helped push profits higher.
However, the incoming Government spending cull is likely to hit Deloitte hard, where it represents 10pc of the company’s revenues.
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- ACCA qualification breaks down barriers to the finance profession (22)
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Pakistan spot-betting scandal throws cricket into crisis
no responses - Posted 08.30.10
Scotland Yard detectives have confiscated the mobile phones of three of the Pakistan cricket team's leading players as part of an investigation into one of the biggest betting scandals in the sport's history that is threatening to engulf the game. The cricketers, captain Salman Butt and bowlers Mohammad Amir and Mohammad Asif, were questioned along with wicket keeper Kamran Akmal by ... continue -
Deloitte to be world’s biggest accountant
no responses - Posted 08.28.10
In Deloitte's UK annual results, the firm shrugged off the worst global recession since the 1930s to deliver profits just 15pc shy of 2008's record high on revenues that fell only 5pc short of 2008. The 672 partners will take home an average of £873,000 each on revenues of £1.9bn for the year ending 31 May 2010. John Connolly, Deloitte's global ... continue -
Pakistan recovery ‘to take years’
no responses - Posted 08.26.10
Pakistan will need at least three years to recover from the devastating floods that have swept across the country for more than three weeks, the country's president has said. Asif Ali Zardari warned that the displacement and economic hardship caused by the floods could spark widespread unrest. He also defended his government's response, saying no country would have been able to effectively ... continue -
June 2010 session ACCA Qualification pass rates
no responses - Posted 08.25.10
Results from the latest ACCA exams show that more than 6,000 trainees from around the world successfully completed their final papers to become affiliates and move closer to their goals of achieving ACCA membership. June 2010 session ACCA Qualification pass rates: Paper F1, Accountant in Business, 64%* Paper F2, Management Accounting, 54%* Paper F3, Financial Accounting, 60%* Paper F4, Corporate and Business Law, 51% Paper F5, ... continue -
Islamic finance mulls global sharia adviser platform
no responses - Posted 08.25.10
A global authority may be set up to oversee Islamic finance sharia advisers, a religious scholar said, amid calls to address the fragmented regulation which threatens to slow the industry's growth. The role of sharia scholars has been a growing point of debate as the $1 trillion industry's rapid rise raises issues such as the shortage of advisers, conflicts of interest ... continue -
Migrants stepping into UK skills gap
no responses - Posted 08.25.10
Companies are finding it increasingly difficult to recruit home-grown talent, with any improvement in the economy unlikely to filter through to the jobs market, research out today suggests. A poll by the Chartered Institute of Personnel and Development and accountants at KPMG indicates that demand for migrant employees is surging because of a lack of skills among British workers. Almost half ... continue -
Business Reporting Beyond the Crisis
no responses - Posted 08.25.10
Business Reporting Beyond the Crisis: How to Make Sure That We Don’t Tumble Into Another Black Hole “My general conclusion is that everyone is guilty,” says Jules Muis—former Ernst & Young partner, controller of the Word Bank, and director-general audit of the European Commission—about the financial crisis. The whole implosion is based on negligence by senior management of banks and other financial ... continue
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All entries filed under this archive
Choosing who to work for…
1 response - Posted 08.14.10
A little while ago I talked about choosing accountancy as a career. So to follow up I'd like to share some thoughts on the next important choice: the firm you'll train with. A quick browse of graduate recruitment forums and it's clear to see there's one thing on everyone's mind when ...continue
1 response - Posted 08.14.10
A little while ago I talked about choosing accountancy as a career. So to follow up I'd like to share some thoughts on the next important choice: the firm you'll train with. A quick browse of graduate recruitment forums and it's clear to see there's one thing on everyone's mind when ...continue
After O/Levels, stepping to a Professional Course
1 response - Posted 05.07.10
The Association of Chartered Certified Accountants is the largest and fastest growing accounting body in the world, with 260,000 students and 110,000 members spread out to across 170 countries. With over 100 years of providing accounting and financial qualification, the innovation of ACCA provides various routes to ...continue
1 response - Posted 05.07.10
The Association of Chartered Certified Accountants is the largest and fastest growing accounting body in the world, with 260,000 students and 110,000 members spread out to across 170 countries. With over 100 years of providing accounting and financial qualification, the innovation of ACCA provides various routes to ...continue
Restating the Value of Audit
no responses - Posted 05.05.10
Stephen Haddrill, the Chief Executive of the Financial Reporting Council (FRC), said that it was time for a review of whether the value of audit can be enhanced. The Financial Services Authority (FSA) has a paper on audit to be released in June. ACCA welcomes this; a serious debate on the ...continue
no responses - Posted 05.05.10
Stephen Haddrill, the Chief Executive of the Financial Reporting Council (FRC), said that it was time for a review of whether the value of audit can be enhanced. The Financial Services Authority (FSA) has a paper on audit to be released in June. ACCA welcomes this; a serious debate on the ...continue
ICAP to acquire Pern facility to access advances in accountancy
no responses - Posted 03.04.10
The Institute of Chartered Accountants of Pakistan (ICAP) has decided to acquire the facility of Pakistan Education Research Network (Pern) to help students and its members get access to global advancement in the field of accountancy. According to sources, the facility would help ICAP students and members benefit from the work ...continue
no responses - Posted 03.04.10
The Institute of Chartered Accountants of Pakistan (ICAP) has decided to acquire the facility of Pakistan Education Research Network (Pern) to help students and its members get access to global advancement in the field of accountancy. According to sources, the facility would help ICAP students and members benefit from the work ...continue
Millionaire Teachers of ACCA
5 responses - Posted 11.10.09
Education in Asian countries and especially in Pakistan has been the most profitable business for last decade. After the hyper growth period of ACCA in Pakistan, a lot of institutes and teachers has amassed a fortune. A lot of New institutes appeared in last two years but there is still ...continue
5 responses - Posted 11.10.09
Education in Asian countries and especially in Pakistan has been the most profitable business for last decade. After the hyper growth period of ACCA in Pakistan, a lot of institutes and teachers has amassed a fortune. A lot of New institutes appeared in last two years but there is still ...continue
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