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- Adrienne Gonzalez
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Arnie Signs 150-Hour Rule for California
- Caleb Newquist
- October 15, 2009
No one panic, if you get licensed before 2014, you’re grandfathered in as substantially equivalent. So if you feel like procrastinating, don’t let us stop you but maybe keep the date in mind.
In addition to the new credit hour requirements, Ah-nuld also signed bills requiring mandatory peer review for CPA firms starting next year and requiring non-active CPAs to disclose their status. We thought those were both standard operating procedure but a couple more laws won’t hurt anything.
If you can’t bear the thought of 25-30 extra credit hours in college, move to Colorado, Puerto Rico, or the Virgin Islands as they’re the holdouts on the 150 credit-hour requirement.
California Adopts 150-Hour Rule [Web CPA]
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Are Weiser and Mazars Making a Run for the Global 6?
- Caleb Newquist
- January 12, 2010
As you’re aware, we’re obsessed with the notion of the ‘Global 6 Accounting Organization’ moniker. On the one hand it’s a little silly but on the other, many non-Big 4 firms are making a legitimate run to expand their international exposure.
The latest attempt at piercing the Global 6 comes courtesy of a possible merger between the firms Weiser and Mazars. According to Weiser’s website, the two firms currently have an affiliate relationship:
Mazars is an international, integrated, independent organization, ranked fifth largest in Europe. Weiser has established a joint venture with Mazars utilizing its 10,500 professionals in over 50 countries, as needed, to expand the firm’s global reach.
According to the FT, the combined firms will make a push a building their firm around providing IFRS adoption services:
Mazars and Weiser, which have had a joint venture agreement for a decade, decided to merge with the aim of building a new US practice focusing on the adoption of International Financial Reporting Standards by US companies, according to sources.
Weiser partners believe they will have an advantage in the US market working with European partners with extensive experience of IFRS.
We have a little secret to share with the Weiser partners: The Big 4 has European partners will extensive experience in IFRS too. They’re drooling for the IFRS adoption business just like you so hope you’re coming with super-secret plan that will give you a real advantage.
We contacted a Mazars spokesperson who confirmed that the talks were on-going but told us that the contract has yet to be finalized and that both partnerships will have to vote on the proposal. The vote is tentatively set for February or March.
Whether this is the “mega-merger” that was predicted back in August or not we don’t know but the combined firms would have total revenues of $1.3 billion, according to the FT. That’s just a fraction of the Big 4 revenues but it could put them in close competition with the likes of Grant Thornton, RSM International, and BDO.
We’ll continue to keep you updated on the progress of the talks as we learn them.
Mazars and Weiser merger talks point to revival of global practices [FT]