Home » Tag Archives: Accounting Profession News (page 12)

Tag Archives: Accounting Profession News

CICA welcomes 1,862 candidates who passed Uniform Evaluation (UFE)

Kevin Johnston of PricewaterhouseCoopers LLP in Calgary, Alberta has been awarded the Governor General’s Gold Medal and the Chartered Accountants of Canada cash prize of $5,000 for the highest standing in Canada on the CA profession’s 2005 Uniform Evaluation (UFE). “This is fantastic, I still can’t believe it!” said Johnston. “The UFE is the hardest thing I’ve ever done. Nothing ...

Read More »

PCAOB Has Harsh Words for PwC, E&Y Audits

Washington (Nov. 18, 2005) – The Public Company Accounting Oversight Board has released critical inspection reports for the audits of PricewaterhouseCoopers and Ernst & Young, saying that the firms' work has so many deficiencies, their evaluations of companys' finances may be questionable. The reviewed audits date back to more than a year ago in most cases. The PCAOB inspection team ...

Read More »

Deloitte says study reveals missed cost savings from offshoring

Deloitte has said that a study conducted by the company revealed that financial services companies are capturing less than one-third of the potential cost savings derived from offshoring operations. The company said that its study, which is based on interviews with 62 global financial services institutions, revealed that the most effective offshorers among financial institutions have 6.7% of their global ...

Read More »

IAASB Issues Drafts to Enhance Clarity of International Standards

To enhance the clarity of international standards, the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) has issued exposure drafts of four proposed standards in a new drafting style. The release of these documents marks the beginning of the IAASB's ambitious 18-month program to re-draft standards and to develop new standards using the new ...

Read More »

IASB Publishes Paper on Management Commentary

The International Accounting Standards Board has published a discussion paper that assesses the role the IASB could play in improving the quality of the management commentary that accompanies financial statements. The paper was prepared for the IASB by staff of its partner standard-setters from New Zealand, Germany, the United Kingdom and the Canadian Institute of Chartered Accountants. “Management commentary is ...

Read More »

Intuit offers QuickBooks for Mac 2006

Intuit Inc. has introduced QuickBooks for Mac 2006, a new version of their small business accounting and financial management software application for Mac OS X. QuickBooks 2006 costs US$199.95. With QuickBooks, Mac users can create estimates, invoices and purchase orders, pay bills, track inventory, track employee time and job costs — the software also works with payroll software. “With this ...

Read More »

Finance director jailed for £100,000 embezzlement

A Scottish finance director who admitted embezzling £100,000 from the accountancy company PricewaterhouseCoopers was jailed for two years on Friday. David Logan, 37, appeared before Sheriff Mhairi Stephen at Edinburgh Sheriff Court yesterday having previously pleaded guilty to embezzling the money from PricewaterhouseCoopers between 1 January, 2000, and 21 January, 2002. Sentencing for the crime had been deferred for background ...

Read More »

Deloitte fails to freeze Bank's costs in BCCI case

BCCI’S liquidators yesterday lost a bid to freeze the Bank of England’s expenses after the collapse of their 12-year legal battle earlier this month. The BoE is seeking more than £70 million in costs after Deloitte Touche Tohmatsu abandoned its claim that regulators failed to properly supervise BCCI before it was shut down in 1991 with as much as $16 ...

Read More »

KPMG appoints head of retail banking

KPMG has appointed David Sayer as its new head of retail banking. He joins from IBM Business Consulting, and has more than 25 years of experience in financial services consulting. Sayer previously worked for Lloyds TSB, where he was chief manager for Scotland, and as a consulting partner at Coopers Lybrand, later PricewaterhouseCoopers. He said: 'I am delighted to be ...

Read More »

New Guidebook From PwC Helps Companies Align Security with Strategic Business Objectives

Constant changes in the business, security and regulatory environments hasten the need for security to be managed with greater discipline. “How to Align Security with Your Strategic Business Objectives,” a new guidebook released today by PricewaterhouseCoopers, explains how companies can link security with their business vision in order to embrace change and position themselves for success. The guidebook enables organizations ...

Read More »