PROTIVITI FORMS CRISIS UNITMenlo Park, Calif. - To assist companies in dealing with the plunging markets and subsequent fallout, Protiviti, a provider of internal audit and risk advisory services, has assembled a Financial Crisis Team.
The unit, comprising multiple disciplines with backgrounds in financial risk management, restructuring and litigation support experience, will provide clients with advice on responding to market conditions, as well as updates about various market and regulatory changes.
In light of the current market turmoil, the Protiviti Financial Crisis Team has issued the following recommendations to companies:
* Undertake a detailed review of your financial condition, with a focus on asset quality, liquidity, capital strength and financing alternatives;
* Evaluate the options available under various government programs and private-sector alternatives, and determine the viability of such options;
* Prepare projections and forecasts based on the best options available; and,
* Stress-test financial models, including resulting credit and market risk exposures.
For additional information, visit www.protiviti.com/economiccrisis.
KPMG PLEDGES $1.5MN FOR AFRICA
New York - KPMG plans to contribute $1.5 million over the next five years to a village in Tanzania as part of a poverty relief project. The donation is going to Millennium Promise, a nonprofit organization that aims to end extreme poverty in sub-Saharan Africa. The organization's Millennium Villages project now reaches over 400,000 people in 80 villages across 10 countries in sub-Saharan Africa.
In addition to KPMG in the U.S., KPMG International, KPMG in Japan, KPMG in Canada and KPMG in Russia are also providing financial and other commitments to support the project.
AAM CALLS FOR NOMINEES
Kansas City, Mo. - The Association for Accounting Marketing is calling for nominees for its Rookie of the Year Award.
The awards are open to people who have been in the accounting marketing field for less than two years and are currently AAM members. The award was created in 2005 as a way to recognize future leaders. Nominees must show excellence, creativity and initiative within their firms and demonstrated excellence within the association itself.
Nominations will be accepted until Friday, Feb. 20, 2009. The nomination form can be filled out by non-members and is available at www.accountingmarketing.org/rookie_nomination.asp.
ACCOUNTANTS NEED INTERNATIONAL EXPERIENCE
Menlo Park, Calif. - Seventy-one percent of CFOs said that international experience will be either somewhat or very necessary for accounting and finance professionals five years from now, according to a new survey of 1,400 U.S CFOs.
Recruiting company Robert Half Management Resources noted that the 71 percent was an increase from the 56 percent who answered the question the same way in 2002.
In 2008, 24 percent of CFOs said that international experience was very necessary and 47 percent said that it was somewhat necessary. In 2002, 20 percent said that it was very necessary and 36 percent said that international experience was somewhat necessary.
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