Grant Thornton Consulting NewsWatch

This report provides Monadnock Research estimates for 2022 Tax Advisory and Compliance rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: (Tax Advisory) International and Corporate Tax; Private Wealth Management; Merger, Acquisition and Divestiture Tax; Trade and Customs; Transfer Pricing; Property and Real Estate Tax; Indirect Tax; Tax Audits; Tax Investigations; Tax Management; Tax Risk Mitigation; and Tax Outsourcing. (Tax Compliance) Corporate Tax Return Preparation; Employee Income Tax Returns; Withholding Tax Returns; VAT Returns; Tax Compliance Process; Tax Compliance Control; Tax Compliance Technologies; Tax Authority Inquiry; Tax Authority Examination; and Tax Compliance Planning.The report includes rate breakouts for firms providing related services, including large and small business advisory services...More

This report provides Monadnock Research estimates for 2022 Legal and Forensic Advisory rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: Litigation support; Dispute resolution; Expert witness support; Fraud and financial misconduct investigations; Intellectual property and contract governance; Forensic analysis and technology support; Competition authority support; Domestic and international intelligence; Security; and Transaction forensics. The report includes associated rate breakouts for firms providing related services, including large and small business advisory services firms, the Big Four; Operations; Strategy and Information Technology specialists. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and ...More

This report provides Monadnock Research estimates for 2022 Risk, Regulatory and Governance Advisory rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: Enterprise Risk Management, Corporate Governance and Regulatory Compliance. The report includes associated rate breakouts for firms with a legacy specialty in the areas of Financial, Legal and Risk Advisory, including the Big Four; Operations; HR services; Strategy and Information Technology. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level. We also include rate differential break-outs for 14 large metropolitan markets across the US (104 Pages, 60 Exhibits)....More

This report provides Monadnock Research estimates for 2022 Financial Advisory rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: Financial management, Financial performance improvement, Finance strategy and policy, and Finance transformation. The report includes rate breakouts for the Big Four and other Advisory Specialists and other specialists with a legacy in Strategy. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level. We also include Financial Advisory rate differential break-outs for 14 large metropolitan markets across the US (83 Pages, 45 Exhibits)....More

This report provides Monadnock Research estimates for 2022 Transaction Advisory rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: Pre-deal assessment; Operational assessment; Lead advisor; Deal structure; Debt advisory; Strategic and commercial intelligence; Vendor due diligence and assistance; Transaction due diligence; Contracts; and Post-transaction execution. The report includes rate breakouts for the Big Four and other Advisory Specialists, and other specialists with a legacy in Strategy, Operations, HR and IT consulting. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level. We also include Transaction Advisory rate differential break-outs for 14 large metropo...More

This report provides Monadnock Research estimates for 2021 US Tax Advisory and Compliance rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Tax Advisory includes the areas of International and Corporate Tax; Private Wealth Management; Merger, Acquisition and Divestiture Tax; Trade and Customs; Transfer Pricing; Property and Real Estate Tax; Indirect Tax; Tax Audits; Tax Investigations; Tax Management; Tax Risk Mitigation; and Tax Outsourcing. Tax Compliance includes the areas of Corporate Tax Return Preparation; Employee Income Tax Returns; Withholding Tax Returns; VAT Returns; Tax Compliance Process; Tax Compliance Control; Tax Compliance Technologies; Tax Authority Inquiry; Tax Authority Examination; and Tax Compliance Planning. The report includes rate breakouts for Large Advisory Specialists, the Big Four, and Small and Mid-Sized Advisory Specialists, for each of th...More

This report provides Monadnock Research estimates for 2021 Transaction Advisory rates in the US from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of this report include: Pre-deal assessment; Operational assessment; Lead advisor; Deal structure; Debt advisory; Strategic and commercial intelligence; Vendor due diligence and assistance; Transaction due diligence; Contracts; and Post-transaction execution. The report includes rate breakouts for the Big Four and other Advisory Specialists, and other specialists with a legacy in Strategy, Operations, HR and IT consulting. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level. We also include Transaction Advisory rate differential break-outs for 14 large metropo...More

This report provides Monadnock Research estimates for 2021 Financial Advisory rates in the United States from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Services that fall within the scope of Financial Advisory include consulting across the following areas: Financial Management, Financial Performance Improvement, Procurement, Finance Strategy and Policy, and Organizational Development. The report includes rate breakouts for the Big Four and other Advisory Specialists, and other specialists with a legacy in Strategy, Operations and IT consulting. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level. We also include Financial Advisory rate differential break-outs for 14 large metropolitan markets across the US (94 Pages, 53 Exhibits)....More

This report provides an analysis of women serving at various levels of consulting service providers, with a special focus on related efforts of the Big Four and Accenture. We also provide analysis on diversity in the private equity and venture capital industries, and the challenges facing early stage companies across a number of other industries. Our analysis of the consulting sector should be viewed as a best-case example since the efforts of the Big Four and Accenture are significant, and these service providers have devoted more resources than most companies toward addressing the challenge of gender equality in hiring and advancement. (1,904 words, 1 graphic)...More

This report provides Monadnock Research estimates for 2019-2020 US Tax Advisory and Compliance rates in the United States from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. The report includes rate breakouts for Large Advisory Specialists, the Big Four, and Small and Mid-Sized Advisory Specialists, for each of the Tax Advisory and Tax Compliance Advisory rate sections. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level, along with Tax Advisory rate differential break-outs for 14 US large metropolitan markets in the US. (79 Pages, 30 Exhibits)...More

This report provides Monadnock Research estimates for 2019-2020 US Legal, Forensic, Risk and Regulatory Advisory rates in the United States from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. The report includes rate breakouts for Large Advisory Specialists, the Big Four, and Small and Mid-Sized Advisory Specialists, for each of the Legal Advisory, Forensic Advisory, Risk Advisory and Regulatory Advisory rate sections. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level, along with Legal and Forensic Advisory rate differential break-outs for 14 large metropolitan IT Consulting markets in the US. (58 Pages, 28 Exhibits)...More

This report provides Monadnock Research estimates for 2019-2020 Transaction Advisory rates in the United States from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each professional level, along with rate differential break-outs for 14 large metropolitan IT Consulting markets in the US. The report also includes rate breakouts for Large Transaction Advisory Specialists, the Big Four, Small and Mid-Sized Transaction Advisory Specialists, Large Strategy Specialists, Small and Mid-Sized Strategy Specialists, Large Operations Specialists, Small and Mid-Sized Operations Specialists, HR Consulting Specialists, Large IT Consulting Specialists, and Small and Mid-Market IT Consulting Specialists. (61 Pages, 30 Exhibits)...More

This report provides Monadnock Research estimates for 2018-2019 Tax Advisory and Tax Compliance consulting rates in the United Kingdom from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each level. A firm category break-out contains: The Big Four, and Small and Mid-Market Financial, Legal and Risk Advisory Specialists. (53 Pages, 20 Exhibits)...More

Table of Contents: (1) 2018-19 UK Strategy Consulting Rates; (2) Buck Emerges Again as Independent HR Firm; (3) Bain & Co. Strategic Advice Blamed for South Africa Revenue Service Woes; (4) Accenture Completes Acquisitions of Designaffairs and HO Communications; (5) Grant Thornton Consolidates South Africa Member Firms; (6) Consulting Leadership: Accenture, L.E.K., FTI and Grant Thornton; and (7) Thought Leadership: Accenture and Korn Ferry. (2,100 words)...More

This report provides Monadnock Research estimates for 2018-2019 US Financial, Accounting, Legal, Risk, Compliance and Transaction Advisory rates in the United States of America from our firm's continuous cross-industry consulting rate analysis of current negotiated master service agreements between clients and strategic firms. This is our first rate report published in each of these areas. Mean and median hourly, daily and weekly rates are provided for the 15 most common categories of professional, with full detail on experience, education and customary titles for each level. The report includes rate break-outs for Financial Advisory; Accounting Advisory; Legal & Forensic Advisory; Internal Audit, Risk and Compliance Advisory; and Transaction Advisory. (46 Pages, 15 Exhibits)...More

MR - The European Commission (EC) has adopted proposals that, if implemented, will dramatically change the way auditors serve public interest entities (PIE), including banks, insurance companies and publicly listed companies. The proposal prohibits firms from providing non-audit services to audit clients. The rules are particularly restrictive for the Big Four, and will obligate them to separate audit activities from non-audit consulting and advisory practices to avoid potential conflicts of interest with clients. According to the EC, "Big firms represent a very large proportion of PIE audits. It is critical that such audits are conducted in an independent manner without any 'pollution' from other commercial interests." Beyond the separation of audit and advisory operations, the change establishes more stringent governance policies for auditors to strengthen their independence and introduces more competition into the highly-concentrated market for PIE audit services. Included...More

MR The EC Commissioner for Internal Market and Services, Michel Barnier, addressed a conference of the Federation of European Accountants on 30 June, and advocated for a number of auditor regulatory changes that could include a total ban on audit firms providing consulting services and mandated rotation of auditors. Barnier is the EC official responsible for the Internal Market and Services Directorate General and Office for Harmonization in the Internal Market. Speaking before the federation of European CPA's Barnier intimated that he believes the regulatory environment for auditors in Europe is deeply flawed and in need of reform. He proposes the EC focus on: auditor independence issues; opening of the audit services market; and a more integrated European auditor regulatory and certification environment. The issue of auditors offering consulting and advisory services was addressed in his remarks. He believes that a key factor that fuels excessive familiarity between auditors and the...More

MR - The liquidity crisis at LECG is forcing a fast liquidation of assets to repay its $27.8 million credit facility to the Bank of Montreal and other syndicate banks by the end of March. Over the last two weeks LECG has closed a transaction and announced additional deals with FTI Consulting. It and has also sold an operation to Grant Thornton and has agreed to the terms of a deal with the U.S. affiliate of global accounting and advisory services firm Mazars Group. When LECG's term credit facility matures in less than two weeks, it will likely have insufficient cash to repay at least $15 million of the balance. So it is rushing to sell assets as quickly as possible. LECG says it will continue to negotiate transactions for all practice groups remaining. It will use the proceeds to repay the principal outstanding under its credit facility, and any balance remaining to make payments to other creditors and shareholders. While preferred stockholders may get something, management does not an...More

MR - KPMG LLP has expanded its restructuring capabilities through the acquisition of Grant Thornton LLP's Supply Chain Advisory Services practice. KPMG says the deal strengthens its restructuring services practice in the automotive, pharmaceuticals, aerospace, defense, and manufacturing industries, and expands the firm's capabilities in financial and operational restructuring, supply chain advisory, supplier services, technology, and performance improvement. The transaction also includes IP associated with Grant Thornton's Vontik community of practice benchmarking application. KPMG will take over projects underway at Fortune 500 clients. (385 words)...More

MR - Grant Thornton has acquired certain assets of Avalion Consulting, a Dallas-based IT consulting firm. The acquisition will be consolidated within Grant Thornton's Business Advisory Services (BAS) group. Avalion also developed and markets a governance, risk, and compliance (GRC) software application, ComplianceSet. The acquisition includes two partners and Avalion's IT consulting staff, as well as the IP associated with ComplianceSet. (500 words)...More

GT - Sixty four percent of U.S. public companies do not currently report financial results using eXtensible Business Reporting Language (XBRL); and of those, half have no plans to in the future even though the SEC mandated that public companies have to report their financials using Interactive Data by 2011, according to the results of a recent study of CFOs and senior comptrollers by Grant Thornton. Among the public and private companies surveyed, 74 percent do not currently report financial results using XBRL, with 26 percent reporting they do. Of the respondents that are not currently reporting results using XRBL, 69 percent of them say they have no current plans to do so. (335 words)...More

Grant Thornton may be interested in acquiring a portion of BearingPoint's business. Reuters is reporting that Grant Thornton would be interested in BearingPoint's government consulting and general business consulting operations, but not its IT system implementation business....More

(8 August 2008) Hewitt Associates has appointed Eric Fiedler and Yvan Legris as co-presidents of its consulting business; and Roger Millay as CFO. FTI Consulting has promoted Declan Kelly to manage recent acquisitions. Watson Wyatt has appointed Roger Millay as chief financial officer. Mike Orchard has been appointed head of client consulting for HRG Consulting after the departure of Ian Flint. Grant Thornton appointed Scott Barnes CEO of its U.K. affiliate; Grant Thornton LLP appointed 36 new partners and Joshua Bushard as head of its U.S. hospitality practice....More

More than 82 percent of chief financial officers believe that the roles of chief executive officer and chairman should be held by different people, according to a national survey of CFOs and senior comptrollers conducted by Grant Thornton LLP. Thirty-four percent of public company respondents say their company is not fully compliant with Section 404(b) of Sarbanes-Oxley. While 59 percent of CFOs say companies should issue corporate responsibility reports, only 14% currently do....More

20 May 2008 - Grant Thornton LLP has consolidating the firm's advisory business lines and more than 800 U.S. professionals into a separate advisory services practice. Greg Pitzer and Larry Redler have been appointed Co-National Managing Principals and Partners of the new practice....More