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You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. Customize cookies. Skip to the content. To eliminate overlap created by the merger and to reduce its payroll expenses, the firm cut its staff in and eliminated many partner positions.
Although revenues had fallen slightly in the late s, by the early s revenues were modestly but steadily rising. The company garnered an increasing number of clients, and their involvement in such large projects as municipal insurance and environmental risk management consulting continued to grow.
This increase reflected a growing market for these kinds of services. Moreover, major restructuring was taking place in hospitals and in the healthcare industry in general, creating a need for consultants.
First, the firm hired a new general legal counsel, Kathryn Oberly, who reputedly made keeping costs down a higher priority than battling on principle. Second, the firm stepped up its expansion into consulting, an area much less fraught with legal responsibilities and their concomitant lawsuits than auditing. In addition to increasing its consulting in risk management, the company moved into information software products.
In the firm forged an alliance with Tata Consulting, headquartered in India. In addition, the merger would have limited the risk of a liability suit severely damaging earnings and would have made greater economies of scale for developing new products or services. Combining the two huge companies presented a formidable task, particularly because they were intense competitors. A larger problem than overcoming historic rivalries, however, was gaining regulatory approval.
Along with fears that the relative lack of choice would encourage a rise in prices, there were fears among clients that the combined firms would make company secrets vulnerable to rivals using the same firm. Some analysts thought that the money and attention required to integrate the firms, at a time when all Big Six firms were expanding rapidly, also discouraged the merger.
In the firm had plans to add a worldwide law practice to its stable of services. Toggle navigation. User Contributions: 1. Comment about this article, ask questions, or add new information about this topic: Name:. IBISWorld provides profiles on 2, private and public Australian companies and reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on business and industry trends.
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The company's principal activities are divided into four business divisions including: Assurance Provision of independent and objective assurance on accounting compliance and reporting, fraud investigation and dispute, corporate governance and climate change and sustainability services.
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