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April 30, 2008

News briefs

News briefs

Financial Results KPMG International revenue up 17%

KPMG International has closed the gap on its Big Four rivals. The network has announced its member firms’ combined revenues grew 17.4 percent to $19.8 billion for the year ended 30 September 2007. KPMG remains the smallest of the Big Four. Its closest rival is Ernst & Young, which this month announced combined member firm revenues of $21.1 billion – growth of 15 percent on the previous year. KPMG experienced its fastest growth of 22 percent in advisory services.

People New E&Y advisory council leader Ernst & Young (E&Y) Australia partner Brian Long has been elected to head the E&Y global advisory council as its presiding partner. The newly created council comprises 41 partners from across E&Y’s global firms. It will be responsible for governance oversight and strategy, performance and investment priorities for the global network. Long is also the presiding partner of the E&Y Oceania advisory council. He has been a partner with the firm for more than 25 years.

People LEA appoints chairman emeritus Gary Shamis has been appointed chairman emeritus of the Leading Edge Alliance. Shamis has stepped down as chairman, eight years after he helped create the alliance. The new position was created in his honour. Shamis will retain his voting rights and remain an active member of the board. He said: “It has been rewarding to see the success of the Leading Edge Alliance and to know that SS&G [a Leading Edge member firm, of which Shamis is managing partner] had a great impact in its formation.”

Mergers and acquisitions Merger for US firm US firm Habif, Arogeti & Wynne (HA&W), a Baker Tilly International member, has acquired Atlanta-based Miller Ray Houser & Stewart (MRHS). HA&W gains an active client roster of about 2,000 organisations and executives as well as more depth and breadth of experience with US Securities and Exchange Commission-registered companies with the purchase of MRHS. The 25 MRHS staff will move to the HA&W offices. MRHS offers a broad range of traditional audit and tax services, primarily to small- and mid-market companies and their executives, and is also active in providing valuation services, litigation support and forensic accounting services, said HA&W.

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