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.

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.

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
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.