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August 28, 2008

News briefs

WHK Group revenue on the rise… E&Y Australia expands tax teamGT partner joins standards board… Ottawa firm merges with Deloitte… MGI appoints UK directorIndiana firm strengthens health care consultancySmith Cooper secures small Midlands firm

FINANCIAL RESULTS WHK Group revenue on the rise

Australian consolidator WHK group has released its 2008 year-end results showing a 29 percent growth in revenue from A$304 million ($260 million) in 2007 to A$393.4 million this year. The Horwath International member also reported a rise in cash earnings of 22 percent to A$30.9 million for 2008. The financial services group said a key attribute was the strong performance of its business services line. The group’s growth was also due to the expansion of its Australian and New Zealand network by acquisition during the year with annualised revenue from these additions totalling A$65.7 million.

RECRUITMENT E&Y Australia expands tax team

Ernst & Young Australia (E&Y) has expanded its Brisbane tax team with the addition of seven new employees. The additions are all former employees of Damien Burke and Associates, a tax and commercial litigation practice. Damien Burke will head the Brisbane tax controversy team, which will focus on dispute resolution, including tax litigation, mediation and negotiated settlements. It will also focus on support services in relation to Australian Tax Office risk reviews and tax audits. E&Y managing partner Jenny Parker said the development of the firm’s Brisbane tax practice was in response to the demand for services.

PEOPLE GT partner joins standards board

Grant Thornton US national professional standards partner Phil Wedemeyer will take up a position on the American Institute of Certified Public Accountants Auditing Standards Board (ASB) in December this year. The ASB is charged with issuing auditing, attestation and quality control standards applicable to the performance and issuance of audit and attestation reports for non-issuers. Prior to joining Grant Thornton, Wedemeyer worked at the Public Company Accounting Oversight Board, where he established and directed the office of research and analysis.

MERGERS AND ACQUISITIONS Ottawa firm merges with Deloitte

Deloitte Canada has signed a memorandum of understanding with Ottawa-based professional services firm Scott Rankin & Gardiner (SRG) to merge the two firms. SRG has 30 staff including partners and offers a range of business services.

PEOPLE MGI appoints UK director

Robert Radford has been appointed as the UK director of global accountancy association MGI. Radford is managing director of the MGI member firm The Rowleys Partnership based in Leicestershire. As UK director, he will be responsible for the active representation and promotion of MGI both nationally and internationally. Paul Winder, chief executive of MGI, said: “The appointment of Robert to the position of UK Director of MGI recognises his technical ability and background as well as his lecturing experience and expertise, skills which will be vital in moving our business forward.” Radford joined The Rowleys Partnership in 1998 as an audit and technical partner. He has previously worked for nine years lecturing and providing audit and accountancy technical support to independent firms in the UK.

MERGES AND ACQUISITIONS Indiana firm strengthens health care consultancy

Katz, Sapper & Miller, a US member firm of Baker Tilly International, has merged with fellow Indiana firm Heaton and Eadie. Katz, Sapper & Miller is a full-service accounting firm, providing accounting, taxation and business management services with specific expertise in health care and employee benefit consulting. Heaton and Eadie also specialises in these areas. The partner in charge of the Katz, Sapper & Miller health care services group, David Charles, commented: “We had a desire to expand our resources and service to our health care clients. Heaton and Eadie has distinguished itself in this area and we are pleased to find that our firms share values and visions of quality and personal service.” Following the merger, Katz, Sapper & Miller has about 300 staff and 35 partners.

MERGES AND ACQUISITIONS Smith Cooper secures small Midlands firm

Smith Cooper, a UK-based business advisory firm, has acquired Birmingham accountancy firm Anderson KBS. The acquisition adds 12 staff and expertise in accountancy, audit and tax services. Smith Cooper partner John Southwell said: “We have been doing business in Birmingham for years, many of our clients’ professional advisers and bankers are based here, so Smith Cooper is already known among the professional community. As the Midlands’ regional financial centre, it is a key element of our strategic growth plan to establish a permanent presence in Birmingham.”

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