Business Services Industry
Andersen splits tax outfit with Deloitte.
Australasian Business Intelligence, April, 2002
Apr 05, 2002 (The Australian Financial Review
ABIX via COMTEX) -- The US arm of the Andersen accounting group has announced that Deloitte & Touche will acquire 50 per cent of its tax practice. The decision has implications for the proposed takeover of Andersen Australia by Ernst & Young. Michael de Palo, the head of tax at Deloitte Touche Tohmatsu in Australia, describes Andersen Australia's tax practice as the "jewel" in its crown. He notes that there is a lot of cross-border tax transactions between Australia and the US. As a result, Ernst & Young and Deloitte are likely to try to gain the business of Australian subsidiaries of Andersen's US clients. Meanwhile, there has been speculation that Andersen in the US may retrench up to 7,000 employees and...
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