International Accounting Bulletin

2 weeks ago | internationalaccountingbulletin.com | Shivam Mishra

Baker Tilly, a US advisory, tax, and assurance firm, is in discussions to acquire local rival Moss Adams in a deal valued at more than $2bn, reported Financial Times, citing sources.  The Chicago-based firm, which sold a majority stake to a private equity consortium led by Hellman & Friedman in February 2024, aims to accelerate acquisitions and increase its market share in the rapidly consolidating accounting and consulting sector.

2 weeks ago | internationalaccountingbulletin.com | Shivam Mishra

EY announced a global restructure that will rationalise its regional divisions, but EY Oceania’s leadership and structure will remain unchanged, reported The Australian Financial Review (AFR).  The restructuring involves merging 18 regional structures into ten super regions, and cutting three overarching geographic groupings.  This move is expected to lead to job cuts, particularly among staff reporting to the Asia-Pacific geographic grouping, according to AFR.

1 month ago | internationalaccountingbulletin.com | Joe Pickard

As UK Chancellor Rachel Reeves prepares to deliver this year’s spring statement, we hear predictions and hopes from the accountancy profession. (09:31, 26.03) PKF Littlejohn Advisory partner Stephen Goderski said: “As the UK continues to navigate a complex financial landscape, the importance of a well-balanced approach to fiscal policy cannot be overstated. While addressing the immediate fiscal challenges, it’s vital that the government also lays the groundwork for long-term, sustainable growth.

1 month ago | internationalaccountingbulletin.com | Shivam Mishra

PwC has experienced a record number of partner exits in the UK, while also pausing its technology apprenticeship scheme, reported Financial Times.  In 2024, 123 partners left PwC, more than double the annual average since 2002. This reduction in partner numbers and junior recruitment is part of the firm’s strategy to protect its annual profit pool, which is close to £1m ($1.29m) per partner.  The firm is also facing a slowdown in demand across the consulting sector.

1 month ago | internationalaccountingbulletin.com | Shivam Mishra

Global accounting network BDO has welcomed the UK Government’s decision to exempt individuals with low trading incomes from the self-assessment tax filing requirement. The government has relieved 300,000 low-income traders from filing self-assessment tax returns. However, BDO noted that this was a “missed opportunity” to further ease administrative burdens on a broader scale.