Posts Tagged “audit services”

A major European Commission framework contract for audit services has been won by a grouping of three Russell Bedford member firms. The group, led by Lubbock Fine (London), includes Equation (Paris) and Domus (Berlin).

Russell Bedford International is a global network of independent firms of accountants, auditors, tax advisers and business consultants. Ranked amongst the world’s leading accounting and audit networks, Russell Bedford is represented by some 460 partners, 5000 staff and 280 offices in more than 90 countries in Europe, the Americas, the Middle East, Africa and Asia-Pacific.

The substantial contract is to provide financial audit services to the EC in relation to research grants under the Seventh Framework Programme for Research and Technological Development (FP7). Such research grants are typically extended to universities, higher education establishments, not-for-profit organisations and companies, including SMEs.

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Baker Tilly is to join RSM International network. Baker Tilly is to become accountancy network RSM International’s UK member firm.

The firm will formally join the network later this year following completion of their current notice period with existing network Baker Tilly International.

During the transition period, the firm will continue to trade as Baker Tilly, but will make it clear that it is an independent member of RSM International, after which the firm will then adopt the global network name and corporate identity.

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Ernst and Young has strengthened it advisory practice through the recruitment of former KPMG partner Mark Hutchinson.

Hutchinson joined KPMG firstly in 1992 when he started his career. He left the big 4 firm 2 years later to join CME KHBB and returned again to KPMG in 1997. In 1999 he left and became partner at Circus Communications before joining Paeson Consulting. He then returned again to KPMG where his last role was a partner and head of management consulting.

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Grant Thornton has strengthened its financial services tax team with the appointment of EY’s Richard Milnes as partner.

Previous to his post at EY, Milnes also worked in in international tax for Shell and as head of tax planning for Lloyds TSB before moving to a front office tax structuring and transactional role at Lloyds.

Milnes is to be based at Grant Thornton’s London office.

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Fees paid to the auditors of FTSE 350 companies for non-audit services has fallen by 24% over the last year, this is according to audit firm Grant Thornton.

The audit firm’s twelfth annual Corporate Governance Review shows that fees paid fell to 68% of audit fees in 2012 to 51.7% in 2013.

This is also visible among FTSE 100 companies, where non-audit fees on average now represent 33.7% of the external audit fee, representing a 43% drop.

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With audit standard setters and policy makers having such different views on how auditor reporting should be done could put global consistency at risk and perhaps result in investors not getting the information they need.

This is the warning from the ICAEW. The ICAEW are a leading professional membership organisation that promotes, develops and supports chartered accountants worldwide.

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The Public Company Accounting Oversight Board have approved their 2014 fiscal-year budget as well as a 2013-2017 strategic plan that will hopefully see accounting firms expanding into consulting practices.

The PCAOB has noticed a growth in consulting revenue and acquisition activity in the past number of years. The Big 4 consulting firms have increased their consulting revenue by 33% in the past 5 years compared to a mere 6% increase in audit revenue. The PCAOB feel the consulting revenue will continue to increase.

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The Public Company Accounting Oversight Board has settled disciplinary orders involving three audit firms and 3 people within these firms. The PCAOB is charging them with violating the federal securities laws and not keeping to the PCAOB auditing standards and rules in the audits of 10 public companies.

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There are many qualifications internal auditors, external auditors and IT auditors can study towards to better their audit careers.

Possessing any of the qualifications or certifications can boost your chances of getting an audit job. Many audit job descriptions now include the preference for extra qualifications depending on the role. This does not mean that people with these qualifications will get the audit jobs over people that don’t. It will be an extra bonus in your favour.

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At Audit International we currently have a selection of audit jobs around Switzerland. At the moment the main regions of Switzerland that our roles are based in include Zurich, Geneva and Lausanne.

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