KPMG, E&Y, PwC, Deloitte Latest Consulting & Accounting Firm News (Big4.com Jan 2012-4)

KPMG, E&Y, PwC, Deloitte Latest Consulting & Accounting Firm News (Big4.com Jan 2012-4)


bjbj Big4.com brings you the top stories of
this week for the Big Four Accounting and Consulting Firms: From KPMG, Uncertainty About
Medicare ACO Participation From Ernst & Young, ITEM Club Forecasts UK Recovery Paralysis
Also from Ernst & Young, Eurozone Crisis Continues To Challenge Resilient RGMs From PwC, Companies
Inadequately Prepared For The New Risk Landscape From Deloitte, New Partners Position Deloitte
In Papua New Guinea For Additional Growth Also from Deloitte, Global Powers Of Retailing
2012 Report Released Each week Big4.com covers key news, events, happenings, opinions and
blogs relating to all the Big Four accounting and consulting firms. You can view this video
our website and on Big4.com’s channel on Youtube. So, let s start with this week’s round-up
of the top news! KPMG: Uncertainty About Medicare ACO Participation According to a poll conducted
by HYPERLINK “http://www.big4.com/kpmg” KPMG LLP, the U.S. audit, tax and advisory firm,
Epstein Becker Green, a national law firm and The JHD Group, senior executives at hospitals,
health systems, and insurers surveyed said their organizations do not have a comprehensive
understanding of the various Centers for Medicare and Medicaid Services and their financial
implications, even after publication of final rules. According to responses from healthcare
leaders polled in November, 57 percent of hospital and health system respondents said
they still don t know how the final rules will impact their organization s participation
in the MSSP program. Ernst & Young: ITEM Club Forecasts UK Recovery Paralysis UK GDP is
expected to flatline for the rest of year according to the latest quarterly forecast
from the HYPERLINK “http://www.big4.com/ernst-young” Ernst & Young ITEM Club. ITEM Club s winter
forecast says that deteriorating levels of confidence will see business investment stagnate
in 2012, whilst export prospects have already slowed. According to the report, the UK is
probably already in a technical recession and will struggle to reach positive growth
until 2013. The report also states, the UK s recovery is still heavily dependent on exports.
Exports accounted for most of last year s growth, adding 0.9 percentage points to GDP
in 2011. Ernst & Young: Eurozone Crisis Continues To Challenge Resilient RGMs The rapid-growth
markets or RGMs are expected to grow collectively by 5.3% in 2012, in stark contrast to the
mild recession expected in the Eurozone in H1 2012 and modest growth in the US, according
to HYPERLINK “http://www.big4.com/ernst-young” Ernst & Young s quarterly HYPERLINK “http://www.ey.com/GL/en/Issues/Business-environment/RGM–bullish-despite-Eurozone-crisis—Outlook-still-bullish”
Rapid-Growth Markets Forecast While growth in 2012 is expected to be lower than forecast
by RGMF in October 2011, these markets will continue to contribute nearly half of the
world s growth over the next three years. Despite a bullish outlook for the medium-term,
RGMF anticipates a significant slowing in growth in the near term for RGMs, well below
the buoyant recovery in 2010. PwC: Companies Inadequately Prepared For The New Risk Landscape
A new HYPERLINK “http://www.big4.com/pricewaterhousecoopers” paper, Black swans turn grey: the transformation
of risk, stresses that businesses need to be more innovative to achieve wider risk resilience
if they are to combat catastrophic black swan events, such as terrorist attacks, tsunamis
or major oil spills. The paper suggests that comprehensive risk management practice, when
properly embedded, can help protect a corporation s reputation and enhance resilience, while
providing a clear view of the board s attitude to integrity, risk and safety. There is growing
evidence to indicate businesses that are seen to establish a risk-aware culture and behaviors
are more highly valued by the markets. Deloitte: New Partners Position Deloitte In Papua New
Guinea For Additional Growth According to Paul Barber, Office Managing Partner of PNG,
Deloitte in Papua New Guinea, the company is changing its structure to meet the growing
demand for advisory and consulting services in addition to the more traditional compliance
services. He recently said the promotions of three individuals were well deserved and
will help the PNG office respond to the increasing demand for services and increase revenue.
Deloitte in Papua New Guinea recently promoted Ernie Gangloff, Kirsty Laird and Bouke Wagenaar
as partners to cater for increased revenue growth. Deloitte: Global Powers Of Retailing
2012 Report Released A new report from HYPERLINK “http://www.big4.com/deloitte” Deloitte indicates
that 250 of the world s largest retailers recorded sales growth in excess of 5 percent
in FY10 encompassing fiscal years ended through June 2010. This represents a substantial improvement
on 1.2 percent growth in FY09. The 2012 Global Powers of Retailing report from Deloitte Touche
Tohmatsu Limited (DTTL), in conjunction with STORES Media, forecasts a cloudy outlook for
India with tighter monetary policy slowing its economy. The report also states that foreign
investments in multi-brand retail would positively impact India s economic growth. The move could
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