Archive for: February, 2012

‘Major Business Model Change’ Top Priority for Media Company Executives

43% of media companies in Europe and the Middle East say that preparing their organization for “major business model change” is currently their top business priority, according to a survey of senior executives. The research also reveals that no other sector is undergoing such a major transformation of their business. KPMG’s Business Leaders Survey polled [...]

People Really Do Matter, As HR Issues Hit Top 5 Concerns for Business Leaders

After years of lip service about the importance of people to their organisation, a new survey by KPMG reveals that the economic downturn has elevated ‘people matters’ to the top 5 concerns for business leaders across Europe and the Middle East. KPMG’s Business Leaders Survey – based on the views of 3,000 business leaders – [...]

KPMG Administrators Appointed to McNulty Offshore

KPMG Administrators Appointed to McNulty Offshore

McNulty Group Holdings and its subsidiaries, McNulty Offshore Construction Ltd and Consafe Engineering Services Ltd, appointed Mark Firmin and Howard Smith of KPMG’s restructuring practice as joint administrators on 24th of February 2012. The Tyneside based business, which also has an Aberdeen operation, is an offshore oil and gas contractor, delivering construction engineering, pipe and [...]

Ingredients for Economic Growth Begin to Emerge

Organisations across the globe have identified some of the key drivers they believe will stimulate economic performance, according to data collated by KPMG. The findings, revealed today, highlight the actions businesses need to take to drive growth, and outline the external factors – regarded as being beyond organisations’ control – which many executives also expect [...]

Credit Squeeze to Intensify Across Europe As Rising Defaults Force Banks on a Diet

Pressure to consolidate, concern about securities trading, and the impact of capital and liquidity rules drive a very conservative approach by banks According to Ernst & Young’s European Banking Barometer, which is released today, banks are avoiding big restructuring and business development projects and instead are focusing on housekeeping as pressures from the wider economy [...]

Global Renewable Energy Market Faces Challenging Times

While 2011 saw record levels of new investment into clean energy, especially solar technologies, the outlook for 2012 is far less certain, particularly in developed markets according to Ernst & Young’s latest quarterly global renewable energy Country Attractiveness Indices report (CAI). The report says that the sector will continue to prosper in 2012 in the [...]

Deloitte’s John Bigalke Named National Leader of Public Policy; Senior Partner for Global Health Care Practice

Deloitte, the largest professional services organization in the United States, has named John Bigalke national leader of public policy, part of Deloitte’s legislative affairs and public policy group. Bigalke, vice chairman, Deloitte LLP, most recently served as U.S. national industry leader for Deloitte’s health sciences & government industry practice for the past nine years. He [...]

Steve Gallucci Appointed Managing Partner of Deloitte’s Greater Fairfield County Practice

Deloitte has appointed Steve Gallucci to managing partner of its Greater Fairfield County practice. Gallucci, a partner with Deloitte & Touche LLP, will oversee nearly 1,300 employees and is responsible for the strategy and direction of Deloitte activities in the southern Connecticut area. He will also continue to serve as the lead client service partner [...]

Public Sector Adoption of Cloud Happening Slowly

When it comes to exploring the opportunities of cloud, the public sector is well behind the private sector, according to a survey from KPMG International. Results from the survey are summarized in the report, Exploring the Cloud: a Global Study of Governments’ Adoption of Cloud. The survey finds that the progress of government entities significantly [...]

Supreme Court Lehman Judgment: MF Global UK Implications

Supreme Court Lehman Judgment: MF Global UK Implications

Commenting on the Supreme Court judgment on the Lehman case and its implications on the MF Global UK segregated client pool, Richard Heis, joint special administrator and restructuring partner at KPMG, said: “We welcome that we now have additional clarity from the Supreme Court albeit that there are further uncertainties around who is entitled to [...]

Researching Personal Loans Through the Web

Researching Personal Loans Through the Web

There are various options available for any one seeking a personal loan. The most convenient, quick and effective way of determining the one most suitable for your particular needs, is by research on the Internet. Having categorized the providers of the type of loan you require, decide whether you prefer a short or long term [...]

Long Lease Property Funds to Grow by £1bn in 2012

2012 is set to be the year in which “long lease” property funds go mainstream as pension funds look for certainty over future rental streams, according to KPMG in the UK. KPMG estimates that there is around £30bn of commercial property investment currently under management by UK pension schemes with the majority held in traditional [...]

Skies Start to Look Brighter

Dr. Ashley Steel, KPMG’s global chair for aviation comments on today’s IAG full year results: “With non oil costs down and revenues up, IAG, with its operating units of BA and Iberia, has delivered great results in some of the most difficult economic times since BA’s privatisation decades ago.” “This comes on the back of [...]

Governments Must Lay Foundations for Stable and Lasting Economic Recovery; ‘Government As Usual’ Not an Option

The PwC Global CEO Survey shows uncertain and volatile growth, lack of stability in capital markets, and tumbling short-term business confidence. This places the onus on governments to provide political leadership to help lay the foundations for a stable and lasting global recovery. Drawing on the results of the CEO Survey, and adding to it [...]

FRC Appoints Gareth Rees QC to Lead Its Discipline Work

The Financial Reporting Council (FRC) has appointed Gareth Rees QC to the position of Executive Counsel to the AADB. He will take up this role on 12 March 2012. Commenting on his appointment, FRC Chief Executive Stephen Haddrill said, “Gareth brings extensive regulatory and disciplinary experience in both prosecution and defence, and possesses an exceptional [...]

IFRS for SMEs Train the Trainers Workshop in Douala, Cameroon

The IFRS Foundation will facilitate a three-day IFRS for SMEs ‘train the trainers’ workshop in West Africa. The event is sponsored by the World Bank and the OHADA (L’Organisation pour l’Harmonisation en Afrique du Droit des Affaires) Commission in Douala, Cameroon, from 17 to 19 April 2012. The workshop is designed to support informed adoption [...]

FSA Proposes to Change the Way Pension Transfer Values Are Calculated

FSA Proposes to Change the Way Pension Transfer Values Are Calculated

The Financial Services Authority (FSA) has published a consultation paper outlining proposals to change the way pension transfer analysis is carried out. The proposed changes will clarify and update the current standards and aim to ensure that pension scheme members considering a transfer are given a fair assessment of what they will receive in retirement. [...]

FRC Appoints New Member to the FRC Board

The Financial Reporting Council (FRC) has appointed Keith Skeoch to the FRC Board as of 1 March 2012. Commenting on the appointment, FRC Chairman Baroness Hogg said, “Keith brings to the FRC great knowledge of the investment industry, and an experienced perspective on codes and standards that will be of immense benefit to the board.” [...]

PCAOB Proposes to Amend Rules and Forms Related to Auditors of Brokers and Dealers

PCAOB Proposes to Amend Rules and Forms Related to Auditors of Brokers and Dealers

The Public Company Accounting Oversight Board has proposed amendments to its rules and forms to apply them to auditors of brokers and dealers registered with the Securities and Exchange Commission, as authorized by the Dodd-Frank Act. The proposed amendments would include references to audits and auditors of brokers and dealers in relevant Board rules. The [...]

PCAOB Proposes Auditing Standard on Related Parties

The Public Company Accounting Oversight Board has issued for public comment a proposed auditing standard, Related Parties. The proposed standard would improve the auditor’s evaluation of a public company’s identification of, accounting for, and disclosure about its relationships and transactions with related parties. The Board also is proposing amendments to enhance the auditor’s identification and [...]