LEGAL

Former E&Y partners jailed
in tax shelter case

Former Ernst & Young US partners
have been handed jail terms for their roles in tax shelter
schemes.

Robert Coplan was sentenced to three years in
prison and ordered to pay a $75,000 fine. Coplan was the leader of
the firm’s individual tax shelter group and the former national
director of its wealth planning practice.

Martin Nissenbaum was sentenced to 30 months
in prison and ordered to pay a $100,000 fine.

Nissenbaum was a member of the firm’s tax
shelter group and national director of its personal income tax and
retirement planning practice.

Richard Shapiro was sentenced to 28 months in
prison and ordered to pay a $100,000 fine.

Brian Vaughn was sentenced to 20 months in
prison.

STRATEGY

Morison International admits
Russian firm

Russian firm 2K Audit-Business
Consulting is to join Morison International.

2K Audit-Business Consulting has 15 partners
and 240 staff across its offices in Moscow, St Petersburg,
Ekaterinburg, Iskutsk, Kazan, Kirov, Krasnoyarsk, Novosibirsk and
Ufa.

Services provided include audit, tax advisory,
accounting, valuation, law, forensic, corporate and financial
consultancy.

The firm provides services for public listed
entities, banks, large-scale holdings and acts as an adviser to a
number of government bodies.

STRATEGY

Kreston expands in Europe,
China

Kreston International has added a
firm in China and expanded its presence in Europe.

Shaanxi San Qin CPA, based in Xi’an in central
China, has three partners, 26 professional staff and provides audit
and accountancy services.

Kreston member firm Iberaudit Auditores, which
serves clients in Spain and Portugal, has opened its doors in
Andorra, offering audit, accountancy and legal assistance
services.

Kreston BulMar has completed a number of
mergers in Bulgaria, expanding its coverage to Sofia, Veliko
Tarnovo, Rouse, Silistra, Yambol and Kardzhali.

STRATEGY

Saudi firm joins
BDO

BDO has extended its Middle East
coverage with the addition of a fast-growing Saudi Arabian
firm.

Dr Al-Amri & Co has 45 employees,
including three partners and 30 professional staff. It serves
clients in Dammam and Riyadh.

BDO said the firm’s fee income has shown
steady year-on-year growth, with a 21 percent increase from 2007 to
2008.

Managing partner Mohamed Al-Amri claimed the
firm is the fifth largest in the kingdom, acting for about 10
percent of the companies listed on the Saudi Arabia Stock
Exchange.

LEGAL

XL Group investigation clears
BDO UK

The UK Accounting and Actuarial
Discipline Board (AADB) cleared BDO Stoy Hayward of any misconduct
relating to its audits of XL Leisure Group.

XL Leisure Group, one of the UK’s largest
package holidays providers, went into administration in September
2008. The collapse left about 85,000 holidaymakers stranded
overseas and a further 240,000 customers without holidays they had
booked.

XL’s audited accounts for the year to 31
October 2007 were prepared on a going concern basis and approved by
the board on 16 May 2008.

The unqualified audit opinion signed by BDO
Stoy Hayward was dated 23 May 2008.

The focus of the AADB investigation was the
audit of XL on a going concern assumption. The board stated that it
did not identify any acts of misconduct by the firm.

PEOPLE

Bodin takes chair at Grant
Thornton

Grant Thornton Sweden chief executive
Peter Bodin has taken over as chairman of Grant Thornton
Peter Bodin: Grand ThortonInternational, succeeding the network’s new chief executive
Ed Nusbaum.

Bodin became Grant Thornton Sweden chief
executive in 2000 – the youngest CEO of any large accounting firms
in Sweden at the time.

The mid-tier network described Bodin as
passionate about leadership and business developments. Bodin will
serve a fixed two-year term, which commenced on 1 January 2010.

STRATEGY

CBIZ acquires Florida firm
Goldstein Lewin

US consolidator CBIZ has acquired
the non-audit business of Goldstein Lewin & Company based in
Boca Raton, Florida.

Mayer Hoffman McCann, which operates in an
alternative practice structure with CBIZ, has acquired the audit
business of Goldstein Lewin & Company.

Goldstein Lewin & Company has 85
associates and recorded about $13.7 million in revenue during the
past 12 months.

The firm provides tax planning and compliance,
wealth preservation and estate planning, technology consulting,
software consulting, accounting, auditing, business valuation and
litigation consulting.

CBIZ will integrate and co-locate its existing
financial services office in Boca Raton with Goldstein Lewin.

STRATEGY

Moore Stephens snaps up
internal audit firm

Moore Stephens UK has merged with
internal audit boutique business AHL Business Assurance.

AHL Business Assurance specialises in
providing governance, risk and internal audit services to blue chip
clients across the public sector, including departments, agencies
and non-departmental public bodies.

Moore Stephens said the merger will boost its
public sector practice and also enable continued growth in other
specialist industry sectors.

AHL Business Assurance directors Sarah Hillary
and Robert Noye Allen have become partners at the firm while the
rest of their team has joined Moore Stephens’ governance, risk and
assurance practice.

STRATEGY

PwC Canada acquires consulting
practice

PricewaterhouseCoopers (PwC) Canada
has acquired professional services consulting group MTS Allstream,
a subsidiary of Manitoba Telecom Services.

The acquisition includes client contracts and
about 180 national consulting professionals from MTS Allstream’s IT
consulting and security consulting groups.

PwC Canada national managing partner Bill
McFarland said the firm would be able to leverage the expertise of
this group and its network of vendor and subcontractor
relationships to greatly expand its technology service
offerings.