Wednesday, August 27, 2008

PricewaterhouseCoopers Reorganizes into Clusters, Hints at Structural Changes


PricewaterhouseCoopers recently announced a structural change in their organization structure, with network firms being organized into three major geographic “clusters” starting as early at October 1, 2008. PwC’s intent for this change is “to increase further its focus on emerging markets, which it believes will be the engine of much of its future growth - allowing greater flexibility and speed when making both investment and acquisition decisions.”...




Wednesday, August 06, 2008

SEC Fines Ernst and Young $2.9 Million for Independence Violations


The SEC has sanctioned Ernst and Young $2.9 million for being “engaged in improper professional conduct” and in violation of several rules and acts, specifically the Exchange Act § 4C and Rule 102(e) of the Commission’s Rules of Practice. Rule 102(e) and Exchange Act Section 4C. E&Y shall pay the SEC $2.9 million, composed of disgorgement of $2.4 million and prejudgment interest of $0.5 million...