Deals & Developments

The Big Four firms announced 2006 results ranging from 9.6% to 11.5% growth worldwide. Combined, Big Four revenues totaled $77.3 billion.

Twenty-two midsize firms joined a new alliance called Baker Tilly USA (a new branch of network Baker Tilly International) in an effort to compete with larger firms for U.S. audit business.

Meanwhile, China announced plans to develop its own international accounting firms. The policy statement by the Chinese Institute of Certified Public Accountants (CICPA), which was first reported by the Financial Times in October, says that in the next five to 10 years China should develop 10 accountancy firms capable of operating internationally. The firms would audit foreign operations of Chinese companies that are currently being audited by Big Four firms.



6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.