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April 30, 2008

News Briefs

E&Y launches telco centre in China…

UK public sector delays IFRS…

Audit firm joins Baker Tilly…

KPMG strengthens forensic team…

STRATEGY E&Y launches telco centre in China Ernst & Young Global has opened a new global telecommunications centre in Beijing. The centre will act as a hub to serve the increasing demands of the telecommunications industry in the region. It will offer services that focus on assurance, risk, tax, transactions advisory, finance and operations-related issues facing telecommunications executives in China. The centre is one of four of its kind – the others are in Paris, San Antonio in the US and Delhi.

IFRS UK public sector delays IFRS The UK government has announced a delay to the implementation of IFRS in the government’s accounts until the 2009-2010 financial year. KPMG UK said the extra year will be valuable to enable the government to prepare thoroughly and restate its previous year’s accounts for comparative purposes. PricewaterhouseCoopers UK said the deferral of the implementation date to 1 April 2009 will help to ease these pressures but should not be a reason to lose any momentum gained recently.

MERGERS AND ACQUISITIONS Audit firm joins Baker Tilly Lithuanian audit firm Scandinavian Accounting and Consulting has joined mid-tier network Baker Tilly International. The two-partner firm is headquartered in the city of Kaunas and provides audit, accountancy, tax and consultancy services. “We are delighted to further strength our capabilities with the addition of a quality member firm in what is one of the fastest growing economies within the European Union,” Baker Tilly International president and chief executive Geoff Barnes said.

PEOPLE KPMG strengthens forensic team KPMG has recruited Stephen Gallagher as a partner in its European forensic technology team. Gallagher joins KPMG from Accenture where he led the European business intelligence practice. He worked for KPMG Consulting earlier in his career, where he helped to build its business intelligence practice. KPMG’s Forensic practice expanded from £30 million ($60 million) in 2005 to £53 million in 2007. Forensic technology revenue grew 60 percent. Adam Bates, global chairman of KPMG Forensic, said: “Forensic technology is one of the key pillars in the fight against fraud, and analytical technologies and processes are integral to that.”

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