0_Wizard
I'm into partnership with in an accounting firm.we cooperate to advance our mutual interest
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests.
chosen_Partnership_0
Partnership
chosen_topic_0_Partnership
PricewaterhouseCoopers
PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. Vault Accounting 50 has ranked PwC as the most prestigious accounting firm in the world for seven consecutive years, as well as the top firm to work for in North America for three consecutive years. PwC is a network of firms in 157 countries, 743 locations, with 223,468 people. As of 2015, 22% of the workforce worked in Asia, 26% in North America and Caribbean and 32% in Western Europe.
South African labour law
South African labour law regulates the relationship between employers, employees and trade unions in the Republic of South Africa. The Native Labour Regulations Act 1911 prohibited strikes by trade unions, introduced wage ceilings and a pass system for moving around jobs. Over 70,000 Chinese labourers were brought in, and used by landowners to undercut the wages of other workers. Among white workers, there was significant unrest, and major strikes took place in 1907, 1913, 1914 and 1922  For a period of sixteen years, from 1979 to 1995, several critical developments occurred in the field of labour law in South Africa, beginning with a radical change in the first of these years, when a significant Commission of Enquiry was held, resulting in the establishment of an Industrial Court, which was given extensive powers to mould, change, shape and develop the law.
Participants in the Madoff investment scandal
Investigators are looking for other participants in the Madoff investment scandal besides Bernard Madoff who were involved in the Madoff investment scheme, despite Madoff's assertion that he alone was responsible for the large-scale operation. Harry Sussman, an attorney representing several clients of the firm, stated that "someone had to create the appearance that there were returns," and further suggested that there must have been a team buying and selling stocks, forging books, and filing reports. James Ratley, president of the Association of Certified Fraud Examiners said, “In order for him to have done this by himself, he would have had to have been at work night and day, no vacation and no time off.
MNP LLP
MNP (previously known as Meyers Norris Penny) is one of the largest full-service chartered accountancy and business advisory firms in Canada. MNP's head office is in Calgary, Alberta, and has offices from Vancouver Island to Halifax. With over 4,000 staff, MNP is currently ranked as one of the largest professional service firms in Canada. The roots of MNP LLP date back to 1945, when Winnipeg-based Laird, Sprague & Co opened an office in Brandon, Manitoba. The Brandon office became independent in 1957 when the balance of Laird, Sprague joined Montreal's McDonald Currie & Co. (McDonald, Currie also merged into Coopers & Lybrand in 1957, eventually becoming what is now known as PWC).
The Evolution of Cooperation
The evolution of cooperation can refer to:   This article is an introduction to how game theory and computer modeling are illuminating certain aspects of moral and political philosophy, particularly the role of individuals in groups, the "biology of selfishness and altruism", and how cooperation can be evolutionarily advantageous. The idea that human behavior can be usefully analyzed mathematically gained great credibility following the application of operations research in World War II to improve military operations. One famous example involved how the Royal Air Force hunted submarines in the Bay of Biscay.
Hedge fund
A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques. It is administered by a professional investment management firm, and often structured as a limited partnership, limited liability company, or similar vehicle. Hedge funds are generally distinct from mutual funds, as their use of leverage is not capped by regulators, and distinct from private equity funds, as the majority of hedge funds invest in relatively liquid assets. The term "hedge fund" originated from the paired long and short positions that the first of these funds used to hedge market risk.
Partnership
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract. Partnerships have a long history, they were already in use in Medieval times in Europe and in the Middle East. In Europe, the partnerships contributed to the Commercial Revolution which started in the 13th century.
1_Apprentice
thats good. Accounting is very important in terms of making a profit.
0_Wizard
Do you know of Pricewater coopers? A multinational professional services network headquartered in London?
PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, United Kingdom.
self_PricewaterhouseCoopers_0
PricewaterhouseCoopers
self_0_PricewaterhouseCoopers
PricewaterhouseCoopers
PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. Vault Accounting 50 has ranked PwC as the most prestigious accounting firm in the world for seven consecutive years, as well as the top firm to work for in North America for three consecutive years. PwC is a network of firms in 157 countries, 743 locations, with 223,468 people. As of 2015, 22% of the workforce worked in Asia, 26% in North America and Caribbean and 32% in Western Europe.
Deloitte
Deloitte Touche Tohmatsu Limited , commonly referred to as Deloitte, is a UK-incorporated multinational professional services network. Deloitte is one of the "Big Four" accounting organizations and the largest professional services network in the world by revenue and number of professionals. Deloitte provides audit, tax, consulting, enterprise risk and financial advisory services with more than 263,900 professionals globally. In FY 2017, the company earned a record $38.8 billion USD in revenues. , Deloitte is the 6th-largest privately owned organization in the United States. As per reports in 2012, Deloitte had the largest number of clients amongst FTSE 250 companies in the UK and in 2015, Deloitte currently has the highest market share in auditing among the top 500 companies in India.
Ernst &amp; Young
EY (formerly Ernst & Young) is a multinational professional services firm headquartered in London, England. EY is one of the largest professional services firms in the world and is one of the "Big Four" accounting firms. EY operates as a network of member firms which are separate legal entities in individual countries. It has 231,000 employees in over 700 offices around 150 countries in the world. It provides assurance (including financial audit), tax, consulting and advisory services to companies. The firm dates back to 1849 with the founding of Harding & Pullein in England. The current firm was formed by a merger of Ernst & Whinney and Arthur Young & Co. in 1989.
Generation X
Generation X, or Gen X, is the demographic cohort following the baby boomers and preceding the Millennials. There are no precise dates for when Generation X starts or ends. Demographers and researchers typically use birth years ranging from the early-to-mid 1960s to the early 1980s. Members of Generation X were children during a time of shifting societal values and as children were sometimes called the "latchkey generation", due to reduced adult supervision as children compared to previous generations, a result of increasing divorce rates and increased maternal participation in the workforce, prior to widespread availability of childcare options outside the home.
World Services Group
WSG, also branded as World Services Group, is a multidisciplinary professional services network of independent law, accounting and investment banking firms. It ranks as one of the largest among the more than 200 professional services networks in the world. WSG members are independent law, accounting and investment banking firms. According to the organization's website , WSG was formed in 2002 as a multidisciplinary network with the objective of bringing together professionals in a professional services network that creates business opportunities and relationships to better service their clients globally.
Big Four accounting firms
The Big Four are the four largest professional services networks in the world, offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services. They handle the vast majority of audits for public companies as well as many private companies. It is reported that the Big Four audit 99% of the companies in the FTSE 100, and 96% of the companies in the FTSE 250 Index, an index of the leading mid-cap listing companies. The Big Four firms are shown below, with their latest publicly available data. This group was once known as the "Big Eight", and was reduced to the "Big Six" and then "Big Five" by a series of mergers.
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural services. Any profession that operates locally, but has clients in multiple locations, are potential members of a network. This entry focuses on accounting, legal, multidisciplinary and specialty practice networks. Today members of these networks employ more than one million professionals and staff and have cumulative annual revenues that exceed $200 billion.
1_Apprentice
No i do not. Can you tell me more about them?
0_Wizard
Its a multinational accounting firm ,and one of the Big Four auditors, along with Deloitte, EY and KPMG.
It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG.
self_PricewaterhouseCoopers_1
PricewaterhouseCoopers
self_0_PricewaterhouseCoopers
Ernst &amp; Young
EY (formerly Ernst & Young) is a multinational professional services firm headquartered in London, England. EY is one of the largest professional services firms in the world and is one of the "Big Four" accounting firms. EY operates as a network of member firms which are separate legal entities in individual countries. It has 231,000 employees in over 700 offices around 150 countries in the world. It provides assurance (including financial audit), tax, consulting and advisory services to companies. The firm dates back to 1849 with the founding of Harding & Pullein in England. The current firm was formed by a merger of Ernst & Whinney and Arthur Young & Co. in 1989.
PricewaterhouseCoopers
PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. Vault Accounting 50 has ranked PwC as the most prestigious accounting firm in the world for seven consecutive years, as well as the top firm to work for in North America for three consecutive years. PwC is a network of firms in 157 countries, 743 locations, with 223,468 people. As of 2015, 22% of the workforce worked in Asia, 26% in North America and Caribbean and 32% in Western Europe.
KPMG
KPMG is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC). Seated in Amstelveen, the Netherlands, KPMG employs 189,000 people and has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups. The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler." It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987. The organization's history spanned three centuries. In 1818 John Moxham opened a company in Bristol.
Olympus scandal
The Olympus scandal was precipitated on 14 October 2011 when British-born Michael Woodford was suddenly ousted as chief executive of international optical equipment manufacturer Olympus Corporation. He had been company president for six months, and two weeks prior had been promoted to chief executive officer, when he exposed "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history", according to "the Wall Street Journal". Tsuyoshi Kikukawa, the board chairman, who had appointed Woodford to these positions, again assumed the title of CEO and president. The incident raised concern about the endurance of tobashi schemes, and the strength of corporate governance in Japan.
Deloitte
Deloitte Touche Tohmatsu Limited , commonly referred to as Deloitte, is a UK-incorporated multinational professional services network. Deloitte is one of the "Big Four" accounting organizations and the largest professional services network in the world by revenue and number of professionals. Deloitte provides audit, tax, consulting, enterprise risk and financial advisory services with more than 263,900 professionals globally. In FY 2017, the company earned a record $38.8 billion USD in revenues. , Deloitte is the 6th-largest privately owned organization in the United States. As per reports in 2012, Deloitte had the largest number of clients amongst FTSE 250 companies in the UK and in 2015, Deloitte currently has the highest market share in auditing among the top 500 companies in India.
Big Four accounting firms
The Big Four are the four largest professional services networks in the world, offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services. They handle the vast majority of audits for public companies as well as many private companies. It is reported that the Big Four audit 99% of the companies in the FTSE 100, and 96% of the companies in the FTSE 250 Index, an index of the leading mid-cap listing companies. The Big Four firms are shown below, with their latest publicly available data. This group was once known as the "Big Eight", and was reduced to the "Big Six" and then "Big Five" by a series of mergers.
Accounting networks and associations
Accounting networks and associations are professional services networks whose principal purpose is to provide members resources to assist the clients around the world and hence reduce the uncertainty by bringing together a greater number of resources to work on a problem.The networks and associations operate independently of the independent members. The largest accounting networks are known as the Big Four. The Big Four are the four largest international professional services networks, offering audit, assurance, tax, consulting, advisory, actuarial, corporate finance, and legal services. They handle the vast majority of audits for publicly traded companies as well as many private companies, creating an oligopoly in auditing large companies.
1_Apprentice
HM. interesting. So do they audit other accounting firms?
0_Wizard
Yes ,They act as nternal auditor or of the external auditor from parties .interference.
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited.
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Auditor independence
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External auditor
An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal entity, or organization, and is independent of the entity being audited. Users of these entities' financial information, such as investors, government agencies, and the general public, rely on the external auditor to present an unbiased and independent audit report. The manner of appointment, the qualifications, and the format of reporting by an external auditor are defined by statute, which varies according to jurisdiction. External auditors must be members of one of the recognised professional accountancy bodies.
Auditor independence
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited. Independence requires integrity and an objective approach to the audit process. The concept requires the auditor to carry out his or her work freely and in an objective manner. Independence of the internal auditor means independence from parties whose interests might be harmed by the results of an audit. Specific internal management issues are inadequate risk management, inadequate internal controls, and poor governance.
Auditor's report
The auditor's report is a disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit. An auditor's report is considered an essential tool when reporting financial information to users, particularly in business. Since many third-party users prefer, or even require financial information to be certified by an independent external auditor, many auditees rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance.
Audit committee
In a U.S. publicly traded company, an audit committee is an operating committee of the board of directors charged with oversight of financial reporting and disclosure. Committee members are drawn from members of the company's board of directors, with a Chairperson selected from among the committee members. A qualifying (cf. paragraph "Composition" below) audit committee is required for a U.S. publicly traded company to be listed on a stock exchange. Audit committees are typically empowered to acquire the consulting resources and expertise deemed necessary to perform their responsibilities. The role of audit committees continues to evolve as a result of the passage of the Sarbanes-Oxley Act of 2002.
Model Audit Rule 205
The Model Audit Rule 205, Model Audit Rule, or MAR 205 are the commonly applied terms for the Annual Financial Reporting Model Regulation. "Model Audit Rule" is a financial reporting regulation applicable to insurance companies, and borrows significantly from the Sarbanes Oxley Act of 2002 (see ‘key sections’ below). The "Model Audit Rule" is co-developed by the American Institute of Certified Public Accountants (“AICPA”) and National Association of Insurance Commissioners (“NAIC”) and issued by NAIC  with revisions in 2006 and has taken effect in 2010. The NAIC internal designation for the Annual Financial Reporting Model Regulation is MDL 205, where "MDL" stands for "Model", and the number of the model rule is "205".
SOX 404 top–down risk assessment
In financial auditing of public companies in the United States, SOX 404 top–down risk assessment (TDRA) is a financial risk assessment performed to comply with Section 404 of the Sarbanes-Oxley Act of 2002 (SOX 404). The term is used by the U.S. Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC). The TDRA is used to determine the scope and required evidence to support management's testing of its internal controls under SOX404. It is also used by the external auditor to issue a formal opinion on the company's internal controls. However, as a result of the passage of Auditing Standard No.
Sarbanes–Oxley Act
The Sarbanes–Oxley Act of 2002 (), also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in the House) and more commonly called Sarbanes–Oxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management and public accounting firms. There are also a number of provisions of the Act that also apply to privately held companies; for example, the willful destruction of evidence to impede a Federal investigation.
1_Apprentice
interesting. what happens if they catch a company not doing the right thing?
0_Wizard
Well the companys accountants are the one who bear the brunt, external auditor performs an audit, in accordance with specific laws or rules, of the financial statement.
An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal entity, or organization, and is independent of the entity being audited.
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External auditor
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External auditor
An external auditor performs an audit, in accordance with specific laws or rules, of the financial statements of a company, government entity, other legal entity, or organization, and is independent of the entity being audited. Users of these entities' financial information, such as investors, government agencies, and the general public, rely on the external auditor to present an unbiased and independent audit report. The manner of appointment, the qualifications, and the format of reporting by an external auditor are defined by statute, which varies according to jurisdiction. External auditors must be members of one of the recognised professional accountancy bodies.
Single Audit
In the United States, the Single Audit, also known as the OMB A-133 audit, is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of Federal assistance (commonly known as Federal funds, Federal grants, or Federal awards) received for its operations. Usually performed annually, the Single Audit’s objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations. The audit is typically performed by an independent certified public accountant (CPA) and encompasses both financial and compliance components.
Auditor's report
The auditor's report is a disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit. An auditor's report is considered an essential tool when reporting financial information to users, particularly in business. Since many third-party users prefer, or even require financial information to be certified by an independent external auditor, many auditees rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance.
Auditor independence
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited. Independence requires integrity and an objective approach to the audit process. The concept requires the auditor to carry out his or her work freely and in an objective manner. Independence of the internal auditor means independence from parties whose interests might be harmed by the results of an audit. Specific internal management issues are inadequate risk management, inadequate internal controls, and poor governance.
XBRL assurance
XBRL assurance is the auditor's opinion on whether a financial statement or other business report published in XBRL, is relevant, accurate, complete, and fairly presented. An XBRL report is an electronic file and called instance in XBRL terminology. IFAC and other accounting organizations are discussing the topic to decide on a common approach and XBRL auditing standards. The auditor may give assurance to an XBRL financial statement, an XBRL business report and XBRL real-time reporting (often referred to as continuous reporting). The short term focus is on XBRL financial statements and regulatory reports, while the future focus is expected to be more on real-time reporting.
Financial audit
A financial audit is conducted to provide an opinion whether "financial statements" (the information being verified) are stated in accordance with specified criteria. Normally, the criteria are international accounting standards, although auditors may conduct audits of financial statements prepared using the cash basis or some other basis of accounting appropriate for the organisation. In providing an opinion whether financial statements are fairly stated in accordance with accounting standards, the auditor gathers evidence to determine whether the statements contain material errors or other misstatements.
SOX 404 top–down risk assessment
In financial auditing of public companies in the United States, SOX 404 top–down risk assessment (TDRA) is a financial risk assessment performed to comply with Section 404 of the Sarbanes-Oxley Act of 2002 (SOX 404). The term is used by the U.S. Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC). The TDRA is used to determine the scope and required evidence to support management's testing of its internal controls under SOX404. It is also used by the external auditor to issue a formal opinion on the company's internal controls. However, as a result of the passage of Auditing Standard No.