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Reputation is important and so is retention - both of these must be priorities for BearingPoint management. As to the Asia business sale, Reuters reported this:. OB , two sources familiar with the matter said on Thursday. In China, another key market for BearingPoint in Asia, the firm currently has roughly 1, staff. It is unclear how many employees BearingPoint has in Japan but the number of staff there is bigger than that of China, said one source.
Forbes tossed this insight regarding the Asia deal:. Karl Keirstead, an analyst with Kaufman Brothers in New York, said he had heard chatter about a deal but could not confirm it. BearingPoint does have some pretty good assets and it has a significant presence in Asia," he said.
He also said Accenture has ample funds to make such a purchase. If the firm sells some of these assets, it will likely use the funds to retire some of its debt. Yet, a smaller and less than global service practice may put the company at risk for winning large commercial projects. The U. It may go away unless something big breaks open for this part of the firm. The company later delayed filing its annual financial reports as it worked to establish internal controls. Corporate expenses rose, due to accounting and audit costs.
The company also took charges related to the decline in fair value for some of its reporting units. In , the SEC had launched a formal probe in connection with the company's business dealings. See all CNNMoney. In Brazil, the business was sold off to CSC. As it was still profitable, the firm opted to continue as an independent Netherlands-based partnership.
BearingPoint in its current form has seen exponential growth since then. However, for us, strategy execution not only means focusing on our own strategic choices, but it also means putting the strategies we develop for our clients into action.
There is a high level of pressure on our clients to transform very quickly, and our strategic setup that combines business consulting, technology, and IP assets is built to allow for quick responses. We can advise on new business models and, at the same time, offer support all the way through to piloting and testing new technologies.
This combination is critical in a market where it is not good enough just to put a strategy on paper. As a result of these SEC rules and the Sarbanes-Oxley Act of , accounting firms were forced to stop performing consulting work they did previously for their audit clients.
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