Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Booz Partners Approve Merger with PwC; Grant Thornton’s Global Revenue; POTUS Reminds Us That Tax Reform Is Hopeless | 12.23.13

PwC and Booz & Company combination is approved by Booz & Company Partners [PwC]
PriceBoozerhouse is a go! "Following the announcement of a conditional merger agreement earlier this year between PwC and Booz & Company, Booz & Company has today announced that its partners have approved the combination. Subject to completion of regulatory approvals and other closing conditions, the transaction is expected to conclude in March 2014." Here's what Dennis Nally said, "We are delighted the Booz & Company partners have approved combining with PwC and we look forward to welcoming them and their colleagues into the PwC network. This combination between PwC and Booz & Company will deliver an enhanced range of services for our clients, wider opportunities for our people and a clear focus on serving all of our stakeholders with quality and integrity. The combination of PwC and Booz & Company will create the stand out professional services organisation in the world, working with a full range of stakeholders to build trust and solve important problems from strategy through execution."

Grant Thornton See Record Growth Internationally [AT]
$4.5 billion is nothing to sneeze at, nor is the share of total revenue that came from advisory services: "The biggest growth came in advisory services, which increased 20.2 percent to US$1.3 billion. Outsourcing services grew 18.8 percent to US$258 million. Assurance services grew more modestly by 3.3 percent to US$1.96 billion, while tax services grew 1.8 percent to US$925 million."

Obama: Tax reform bigger than Baucus [The Hill]
POTUS lets us know that the dysfunction you've come to count on will not die with Max Baucus: "If Democrats and Republicans in the House and the Senate are serious about tax reform, then it’s not going to depend on one guy,” Obama said at a news conference. “It’s going to depend on all of us working together."

Duck Dynasty's Cracker Barrel PR? Talk Taxes [Forbes]
If it worked for Donald Duck, then sure, why not?

Here's a keeper for these future Grant Thornton partners.

What Day Is the Most Productive? Tuesday! [AWEB]
It stands to reason that the next two Tuesdays won't fall in line with this study.

EU audit reforms “raise serious concerns” for the CAQ [JofA]
Cindy Fornelli does not like this one bit: "There is no evidence to show that mandatory firm rotation improves audit quality, and in fact some studies show it has an adverse effect,” Fornelli said in a statement. “There is also little evidence that fees from nonaudit services adversely affect the quality of financial reporting. Additionally, these provisions undermine the important role that audit committees have with respect to auditor selection and scope of services."

Joe Flacco Bought A Mega Millions Ticket At 7-11 [Deadspin]
Tweet from Grover Norquist blaming Maryland taxes in 3…2…1…

Posted in ANR