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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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
UK’s Disappointing Economic Recovery : Deloitte
no responses - Posted 05.05.10
BRITAIN'S recovery still looks "doomed to disappoint", a senior economist has warned. Roger Bootle, economic advisor to accountancy firm Deloitte, continues to expect the economy to grow by just 1 per cent or so this year and about 1.5 per cent in 2011. He said it is looking increasingly likely that the ...continue
no responses - Posted 05.05.10
BRITAIN'S recovery still looks "doomed to disappoint", a senior economist has warned. Roger Bootle, economic advisor to accountancy firm Deloitte, continues to expect the economy to grow by just 1 per cent or so this year and about 1.5 per cent in 2011. He said it is looking increasingly likely that the ...continue
KPMG to up graduate intake as accountant sees market demand
no responses - Posted 04.28.10
BIG four accounting giant KPMG has upped its UK graduate intake this year after the firm said the numbers reflected growing signs that market demand for accountancy services were on the rise. The accountant has increased the number of graduates it plans to recruit for the September intake to 820, marking ...continue
no responses - Posted 04.28.10
BIG four accounting giant KPMG has upped its UK graduate intake this year after the firm said the numbers reflected growing signs that market demand for accountancy services were on the rise. The accountant has increased the number of graduates it plans to recruit for the September intake to 820, marking ...continue
ACCA and Deloitte launch international narrative reporting study
no responses - Posted 04.24.10
ACCA and Deloitte are embarking on a joint international project that will explore current and anticipated future challenges in narrative reporting, from the perspective of finance leaders around the world. Today's corporate reporting is scrutinised by a wide range of stakeholders, leading to many demands being placed on the annual report. ...continue
no responses - Posted 04.24.10
ACCA and Deloitte are embarking on a joint international project that will explore current and anticipated future challenges in narrative reporting, from the perspective of finance leaders around the world. Today's corporate reporting is scrutinised by a wide range of stakeholders, leading to many demands being placed on the annual report. ...continue
Deloitte just launched a Careers page
no responses - Posted 04.14.10
“Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. Deloitte just launched a Careers page on Linkedin and there are some new openings aswel. The page is worth ...continue
no responses - Posted 04.14.10
“Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, and tax services to selected clients. Deloitte just launched a Careers page on Linkedin and there are some new openings aswel. The page is worth ...continue
And the Number 1 is Deloitte!
no responses - Posted 03.07.10
Who’s number one? Deloitte is closing the gap on PwC and is set to take the number one slot in 2010, according to the latest global survey from International Accounting Bulletin. When it comes to staffing levels the survey found that globally head counts have remained fairly stable. So there weren’t ...continue
no responses - Posted 03.07.10
Who’s number one? Deloitte is closing the gap on PwC and is set to take the number one slot in 2010, according to the latest global survey from International Accounting Bulletin. When it comes to staffing levels the survey found that globally head counts have remained fairly stable. So there weren’t ...continue
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no responses - Posted 02.21.10
The top 60 chartered accountancy firms seem to be falling in love with the ACCA qualification. Recent research from Accountancy magazine discovered that for many firms the ACCA trainee is just what they want. Of the 11,853 trainees hired in 2009 some 7,755 (65%) were with the ICAEW, 2,250 were contracted ...continue
no responses - Posted 02.21.10
The top 60 chartered accountancy firms seem to be falling in love with the ACCA qualification. Recent research from Accountancy magazine discovered that for many firms the ACCA trainee is just what they want. Of the 11,853 trainees hired in 2009 some 7,755 (65%) were with the ICAEW, 2,250 were contracted ...continue
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