New BDO Stoy Hayward
partners…

UK auditor transparency reports come into
force…

KPMG to cut emissions by 25 percent…

BDO Stoy Hayward acquires actuaries and pensions
business…

PEOPLE
New BDO Stoy Hayward partners

BDO Stoy Hayward has appointed 11 new partners. All were current
employees, although nine joined as part of the acquisition of tax
consultancy Chiltern in October last year. BDO Stoy Hayward
managing partner Jeremy Newman said: “Our acquisition of the tax
business Chiltern has created one of the most powerful and
comprehensive tax service offerings in the UK and the new partners
have increased and added to the wealth of highly skilled and
talented staff at the firm.”

STRATEGY
KPMG Europe signs £62 million telco deal

KPMG Europe has announced a £62 million ($123.1 million), five-year
outsourcing agreement with British Telecommunications (BT). The
deal is intended to deliver significant operating cost savings to
KPMG’s business and transform technology architecture in order to
build value-added services that improve the productivity of
employees. A central part of BT’s commitment will be the delivery
of a fully converged, IP-based, networked telephony infrastructure.
The platform will allow other firms in the global network to
join.


REGULATION
UK auditor transparency reports come into
force

As of 6 April, auditors of publicly listed companies in the UK have
been required to publish annual transparency reports. The UK
Professional Oversight Board recently published its regulations
setting the minimum requirements the transparency reports must
meet. The requirements closely follow those outlined in the EU
Statutory Audit Directive. A number of the largest UK audit firms
already publish annual transparency reports on a voluntary basis
following a 2003 recommendation from the government-led group set
up to consider the implications of Enron for UK audit
regulation.

REGULATION
Working group to tackle audit firm
governance

KPMG UK senior partner and chair John Griffith-Jones and BDO Stoy
Hayward managing partner Jeremy Newman have been named among the 12
members of a working group tasked with developing a code of best
practice governance for UK accountancy firms that audit public
interest entities

STRATEGY
KPMG to cut emissions by 25 percent

KPMG International plans to reduce the combined carbon emissions of
member firms by 25 percent by 2010. The initiative is centred on
three commitments: measuring, reducing and reporting KPMG’s carbon
footprint; supporting environmental projects to help address the
challenges of climate change; and working with employees, suppliers
and clients to help them improve their climate change impacts. “In
addition, we will provide our member firms’ employees with the
information and tools that they need to improve their own climate
impacts both in the workplace and at home,” KPMG International
chair Timothy Flynn said.

M&A
Vantis acquires UK firm

HLB International UK member firm Vantis has acquired Brewer
Higgins, an accountancy firm based in Bucking¬hamshire. The Brewer
Higgins team will integrate into Vantis’ existing offices in
Beaconsfield and Vantis said the firms will work together as Vantis
Brewer Higgins to achieve their aim of becoming the leading
provider of business advisory services in the region. Vantis said
the merger will provide clients with greater access to a wider
range of professional services.

M&A
BDO Stoy Hayward acquires actuaries and pensions
business

BDO Stoy Hayward’s investment management practice is strengthening
its corporate pensions and benefit services division with the
acquisition of actuaries and pensions business Wolanski Checkley
Fisher (WCF). WCF brings 30 professionals to the new
partnership.

PEOPLE
E&Y UK recruits former regulator

Former regulator Jim Evans has joined Ernst & Young UK
(E&Y) as a partner in the firm’s regulatory and risk management
practice. Evans previously served with the Securities and
Investment Board and the Life Assurance and Unit Trust Regulatory
Organisation. He has 20 years’ experience in financial services and
has worked both as an enforcement and compliance officer. Evans
joins E&Y from Deloitte, where he led the development of the
firm’s regulatory process solutions practice. He has also worked at
KPMG and American Express. At E&Y, Evans will work within the
remediation team, helping clients to resolve major control failures
and mis-selling issues across financial services. He will also be
responsible for growing the team and industrialising its delivery
capability. More than 50 people have been recruited to E&Y’s
regulatory and risk management practice in the past six
months.