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BearingPoint, Inc.

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BearingPoint was formerly KPMG Consulting Inc., the consulting division of the huge accounting firm KPMG LLP that was brought down in the Enron/Arthur Anderson scandal of 2002. On February, 8, 2001, the consulting branch was officially separated from its parent due to a public offering on the company. When the Enron scandal broke, they changed their name to BearingPoint and subsequently acquired the operations left behind by the deteriorating Arthur Anderson. [1]

Contracts

  • In July of 2003, BearingPoint was awarded a contract by USAID worth $79.5 million to facilitate Iraq's economic recovery with a two-year option worth a total of $240,162,688.[2][3] Responsibilities in this contract include:

1. Creating Iraq's budget
2. Writing business law
3. Setting up tax collection
4. Laying out trade and customs rules
5. Privatize state-owned enterprises by auctioning them off or issuing Iraqis shares in the enterprises.
6. Reopen banks and jump-start the private sector by making small loans of $100 to $10,000.
7. Wean Iraqis from the U.N. Oil-for-Food Program, the main source of food for 60% of the population.
8. Issue a new currency and set exchange rates. [4]

  • In January 2003 BearingPoint won a $3.95 million contract financed by the World Bank to aid the Afghanistan government upgrade its accounting system.[5]
  • In March of 2003, USAID awarded BearingPoint a $39.9 million contract to help rebuild the economy in Afghanistan.

[6] In November 2005, USAID awarded another contract, this three years and worth $45 million. [7] The overall worth of contracts in Afghanistan could be worth as much as $350 million. [8]

  • BearingPoint works with the USAID Banking and Financial Market Reform projects in Serbia and with the National Bank of Serbia to stabilize the financial system. [9]
  • In October of 2005, BearingPoint was awarded a five year contract by the Navy's Enterprise Program Management Office worth as much as $58 million to support the strategy, design, development and implementation of the EPMO. [10]
  • In October, 2005, BearingPoint won a $124.7 million contract from USAID to pursue economic and financial reform in Egypt. [11]

Management

Board of Directors

  • Roderick C. McGeary: Chairman of the Board
  • Harry L. You: Chief Executive Officer
  • Douglas C. Allred: Private investor; Former Senior Vice President, Office of the President, Cisco Systems, Inc.
  • Betsy Bernard: Private investor; Former President, AT&T
  • Spencer Fleischer: Vice Chairman, Friedman, Fleischer & Lowe
  • Wolfgang Kemna: Managing Director of Steeb Anwendungssysteme GmbH, a wholly owned subsidiary of SAP AG
  • Albert L. Lord: Vice Chairman and CEO, SLM Corp.
  • Alice M. Rivlin: Senior Fellow, Brookings Institution; Professor, Public Policy Institute, Georgetown University; Former Vice Chair, Board of Governors, Federal Reserve System
  • J. Terry Strange: Former Vice Chairman, KPMG LLP and former Global Managing Partner of the Audit Practice of KPMG International


Articles

Contact

BearingPoint
1676 International Dr.
Mc Lean, VA 22102
phone: (703) 747-3000
Website: http://www.bearingpoint.com/portal/site/bearingpoint

BearingPoint
2001 M St NW,
Washington, DC 20036
phone: (202) 533-7000

BearingPoint
2011 Crystal Dr.
Arlington, VA 22202
phone: (703) 685-5470