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August 30, 2009

News Digest

STRATEGY
Kreston admits Bulgarian
firm

Kreston International has admitted
Bulgarian firm Kreston BulMar to its membership.

Kreston BulMar was founded in 1996 and is a
former Moore Stephens International member firm.

The firm provides a full range of services,
has seven partners and 50 staff.

PEOPLE
Deloitte UK appoints global trade and customs
head

Deloitte UK has appointed Stacey Lax
to lead its global trade and customs practice, which provides
export control, customs and supply chain services to clients across
a range of industry sectors.

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Lax is a specialist in European and US export
control regulations and previously worked for Ernst & Young,
where she led the UK customs and international trade business.

Deloitte also made three senior hires to its
UK export control team including Stacey Toder, who joins as a
director, and senior managers Gail Lee and Mark Young.

The team also has two new industry hires:
aerospace and defence expert Pablo LeCour, who joins the team from
Boeing, and David Whitehouse, former head of licensing for the UK
Department for Business, Innovation and Skills.

PEOPLE
Baker Tilly
UK expands forensic leadership

Baker Tilly UK has appointed Marcus
McCaffrey as forensic services partner. He will help to provide
strategic and operational forensic advice to law firms and
corporates.

McCaffrey has more than 15 years of experience
in forensic and litigations and joins from a large boutique firm
where he was head of investigation and assurance. He will work
closely with the firm’s special investigations team in London.

PEOPLE
Nusbaum and
Viceira named FAF trustees

Grant Thornton US chief executive
Edward Nusbaum and Harvard Business School professor Luis Viceira
have been appointed trustees of the US Financial Accounting
Foundation (FAF). The appointments are five-year terms.

The FAF oversees the Financial Accounting
Standards Board and the Governmental Accounting Standards
Board.

In addition to serving as Grant Thornton US
chief executive, Nusbaum was recently named as the next chief
executive of Grant Thornton International, a position he will
assume on 1 January 2010.

RECRUITMENT
PwC UK
records 62% spike in training applications

The number of A-level graduates
applying for PricewaterhouseCoopers’ (PwC) UK training scheme has
increased by 62 percent in 2009. The scheme enables students to
bypass university and start their accounting career.

Students joining the scheme are thus able to
earn an income while working towards a professional accounting or
tax qualification.

The scheme, first launched in the late 1990s,
is applicable to A-level students who must work at PwC offices in
Birmingham, Leeds, London or Milton Keynes.

“We are offering a different way to acquire
professional qualifications, which is well suited to those who have
a clear career in mind when they leave school or to those who may
already be out in the workforce,” PwC head of recruitment Sonja
Stockton said.

“Combining formal study with on the job
experience and personal coaching puts everything you learn in your
studies straight into action.”

PwC will recruit 50 people for the scheme as
part of the firm’s student recruitment programme for 2010.

PEOPLE
GT appoints
Pacific Northwest leader

Scott Davison has been appointed
managing partner of the Pacific Northwest cluster of Grant Thornton
US. The Pacific Northwest cluster consists of the firm’s Seattle
and Portland offices.

Davison was admitted to Grant Thornton’s
partnership in 2005 and previously served as the firm’s audit
practice leader for the Pacific Northwest from 1997 to 2004.

He also worked at the Deloitte US member firm,
where he held several positions including audit senior manager.

FINANCIAL
RESULTS
Mid-tier results suggest Australian
profession battling crisis well

Australia’s largest mid-tier
professional services organisation, WHK Group, looks to have defied
the immediate impact of the global financial crisis posting a 7
percent increase in total revenue to A$422 million ($347 million)
in the year to 30 June 2009.

The results may be a sign that Australia’s
accounting profession has managed to ride out the worst aspects of
the credit crunch.

In June, Deloitte Australia announced its
revenue grew by 11 percent to A$854 million in the year to 31 March
2009.

WHK Group said it was pleased with its 2009
financial year performance in exceptionally challenging and
difficult market and economic conditions.

Its financial planning practice suffered a
A$11 million fall in revenue to A$62 million, which was largely
offset by WHK Group’s core accounting, tax and audit service lines,
which increased revenue 11 percent to A$319 million.

The organisation said its corporate advisory
and specialist tax services, offered predominately by WHK’s capital
city firms, have been affected by subdued corporate and business
activity across Australia and New Zealand, which in turn impacted
the overall performance of WHK’s capital city firms.

PEOPLE
Mazars
Hemmelrath names managing partners

Mazars Hemmelrath has elected Guido
Gottschalg and Uwe Wolf as joint managing partners in Germany.

Gottschalg has been a partner in Dusseldorf
since 2000 and is focused on the audit and transaction advisory
areas.

Wolf has been a partner since 1995 and will
focus on assisting international corporations at the firm’s Hamburg
office.

Mazars Hemmelrath had combined fee income of
€42.9 million ($61 million) to 31 August 2008, and is ranked among
the Top 20 firms in Germany, according to the International
Accounting Bulletin’s latest Germany survey published in June.

Mazars Hemmelrath

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