<PAGE>

================================================================================

                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                               -----------------

                                  FORM 10-K/A
   FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTIONS 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

(Mark One)
[X] AMENDMENT NO. 2 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

                   For the fiscal year ended August 31, 2001

                                      OR

[_] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

                       Commission File Number: 001-16565

                               -----------------

                                 ACCENTURE LTD

<TABLE>
      <S>                             <C>
                  Bermuda                          98-0341111
      (State or other jurisdiction of (I.R.S. Employer Identification No.)
      incorporation or organization)
</TABLE>

                                  Cedar House
                                41 Cedar Avenue
                            Hamilton HM12, Bermuda
                   (Address Of Principal Executive Offices)

                                (441) 296-8262
             (Registrant's Telephone Number, Including Area Code)

   Securities registered pursuant to Section 12(b) of the Act:

<TABLE>
<CAPTION>
                 Title of Each Class                  Name of Exchange on Which Registered
                 -------------------                  ------------------------------------
<S>                                                   <C>
Class A common shares, par value $0.0000225 per share       New York Stock Exchange
</TABLE>

                               -----------------

   Securities registered pursuant to Section 12(g) of the Act:

             Class X common shares, par value $0.0000225 per share

   Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes [X]  No [_]

   Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to
the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [_]

   The aggregate market value of the common equity of the Registrant held by
non-affiliates of the Registrant on November 15, 2001 was $6.9 billion, based
on the closing price of the Registrant's Class A common shares, par value
$0.0000225, reported on the New York Stock Exchange on such date of $20.25 per
share and on the par value of the Registrant's Class X common shares, par value
$0.0000225 per share.

   The number of shares of the Registrant's Class A common shares, par value
$0.0000225 per share, outstanding as of November 15, 2001 was 343,308,444,
including 1,576,400 treasury shares. The number of shares of the Registrant's
Class X common shares, par value $0.0000225 per share, outstanding as of
November 15, 2001 was 591,161,472.

================================================================================

<PAGE>

                               EXPLANATORY NOTE

    On October 10, 2002, Accenture announced that as a result of a calculation
error it was revising downwards previously reported Reimbursements and
Reimbursable expenses (and, accordingly, Revenues and Cost of services) by
equal amounts. Accenture has identified that previously reported Reimbursements
and Reimbursable expenses included certain intercompany transactions that had
not been fully eliminated. There is no change to Revenues before
reimbursements, Operating income, Income before taxes, Net income or Earnings
per share. There is also no change to the Balance Sheets, the Statements of
Cash Flows or the Shareholders' Equity Statements. For additional information
regarding the revisions, see Note 1 to Accenture Ltd's financial statements
included elsewhere in this amendment.

    This amendment to Accenture Ltd's Annual Report on Form 10-K for the fiscal
year ended August 31, 2001 amends the affected items of the Annual Report
originally filed on November 29, 2001 to reflect the revisions described above
and the financial statements and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" included in Accenture Ltd's
Current Report on Form 8-K dated April 15, 2002. This amendment does not
otherwise update the disclosures set forth in such items as originally filed
and does not otherwise reflect events occurring after the original filing of
the Annual Report on November 29, 2001.

<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                               Page
                                                                                               ----
<C>      <S>                                                                                   <C>
Part I
Item 1.  Business.............................................................................   1

Part II
Item 6.  Selected Financial Data..............................................................  14
Item 7.  Management's Discussion and Analysis of Financial Condition and Results of Operations  15
Item 7A. Quantitative and Qualitative Disclosures about Market Risk...........................  35
Item 8.  Financial Statements and Supplementary Data..........................................  37

Part IV
Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.....................  38
Index to Combined and Consolidated Financial Statements....................................... F-1
Signatures.................................................................................... S-1
</TABLE>

<PAGE>

                                    PART I

ITEM 1.  BUSINESS

Overview

    Accenture is the world's leading management and technology consulting
organization. We had approximately $11.4 billion of revenues before
reimbursements for the fiscal year ended August 31, 2001. As of August 31, we
had more than 75,000 employees based in more than 110 offices in 47 countries
delivering to our clients a wide range of consulting, technology and
outsourcing services. We operate globally with one common brand and business
model designed to enable us to serve our clients on a consistent basis around
the world. We work with clients of all sizes and have extensive relationships
with the world's leading companies and governments.

Management and Technology Consulting Services and Solutions

    Our management and technology consulting services and solutions business is
structured around five global market units, which together comprise 18 industry
groups. Eight service lines support the global market units and provide access
to the full spectrum of business and information technology solutions. Client
engagement teams typically consist of industry experts, service line
specialists and consultants with local market knowledge. Our client teams are
complemented by our delivery centres, which allow us to capture replicable
components of methodologies and technologies and use these to create tailored
solutions for our clients quickly and cost-effectively.

Global Market Units

    The following table shows the organization of our five global market units
and 18 industry groups.

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------
                                             Global Market Units
----------------------------------------------------------------------------------------------------------------------------
<S>                      <C>                         <C>                           <C>                    <C>
Communications           Financial                   Products                      Resources               Government
& High Tech              Services

Industry Groups          Industry Groups             Industry Groups               Industry Groups         Industry Groups
---------------          ---------------             ---------------               ---------------         ---------------
.. Communications         . Banking                   . Automotive                  . Chemicals             . Government
.. Electronics &          . Health Services           . Consumer Goods &            . Energy
  High Tech              . Insurance                   Services                    . Forest Products
.. Media &                                            . Industrial Equipment        . Metals & Mining
  Entertainment                                      . Pharmaceuticals &           . Utilities
                                                       Medical Products
                                                     . Retail
                                                     . Transportation &
                                                       Travel Services

</TABLE>

  Communications & High Tech

    We are a leading provider of management and technology consulting services
and solutions to the communications, high technology and media and
entertainment industries. We offer services that help our clients stay ahead of
major technology and industry trends, including the proliferation of wireless
devices, next-generation networks, digital content services, Web-enabled
platforms and the industry restructuring brought about by the convergence of
these technologies. In addition, we have established mobile commerce labs in
Europe and the United States. At these research and development facilities we
explore how new mobile technologies, such as wireless, can be integrated with
existing legacy and Internet systems and applied in new and innovative ways.

                                      1

<PAGE>

    Our Communications & High Tech global market unit comprises the following
industry groups:

    . Communications.  Our Communications industry group serves many of the
      world's leading wireline, wireless, cable and satellite communications
      companies. We provide a wide range of services designed to help our
      communications clients increase margins and market share, improve
      customer retention, increase revenues, reduce overall costs and
      accelerate sales cycles.

    . Electronics & High Tech.  Our Electronics & High Tech industry group
      serves the aerospace, defense, electronics, high technology and network
      communications industries. This industry group provides services in such
      areas as electronic commerce and strategy and supply chain management.

    . Media & Entertainment.  Our Media & Entertainment industry group serves
      entertainment, print and publishing companies, as well as innovative new
      ventures and Internet companies, providing an array of services ranging
      from customer relationship management to digital content infrastructure
      and electronic business solutions.

  Financial Services

    Our Financial Services global market unit focuses on the growth
opportunities being created by sophisticated customer relationship management,
increased consolidation, business-to-business exchanges, mobile commerce and
the electronic enabling of front and back offices of financial, health care and
insurance services companies.

    Our Financial Services global market unit comprises the following industry
groups:

    . Banking.  Our Banking industry group works with leading commercial and
      savings banks, diversified financial services and securities companies,
      and exchanges, as well as with a variety of new entrants and innovators,
      such as on-line banks and brokerages. We help these organizations develop
      and execute strategies to target, acquire and retain customers more
      effectively, expand product and service offerings, and leverage new
      technologies and distribution channels.

    . Health Services.  Our Health Services industry group serves integrated
      healthcare providers, health insurers, managed care organizations,
      biotech and life sciences companies and policy-making authorities. We are
      helping our clients in the health plan and health insurance area in North
      America accelerate their business by connecting consumers, physicians and
      other stakeholders through electronic commerce. In Europe, we are helping
      create new connections between governments, physicians and insurers.

    . Insurance.  Our Insurance industry group helps property and casualty
      insurers, life insurers, reinsurance firms and insurance brokers improve
      business processes, develop Internet insurance businesses and improve the
      quality and consistency of risk selection decisions. We also help
      insurers take advantage of the opportunities provided by convergence
      within the financial services industry. In addition, our Insurance
      industry group has also developed a claims management capability that
      enables insurers to provide better customer service while optimizing
      claims costs.

  Products

    Our Products global market unit comprises six industry groups: Automotive,
Consumer Goods & Services, Industrial Equipment, Pharmaceuticals & Medical
Products, Retail, and Transportation & Travel Services.

    . Automotive.  Our Automotive industry group works with auto manufacturers,
      suppliers, dealers, retailers and service providers to develop and
      implement solutions focused on customer service

                                      2

<PAGE>

      and retention, channel strategy and management, branding, buyer-driven
      business models, cost reduction, customer relationship management and
      integrated supplier partnerships.

    . Consumer Goods & Services.  Our Consumer Goods & Services industry group
      helps food, beverage, tobacco, household products, cosmetics and apparel
      companies move beyond incremental cost cutting and establish bolder
      innovation and growth agendas. This industry group adds value to
      companies through innovative service offerings that address, among other
      things, new ways of reaching the retail trade and consumers through
      precision consumer marketing, maximizing brand synergies and cost
      reductions in mergers and acquisitions, and improving supply chain
      efficiencies through collaborative commerce business models.

    . Industrial Equipment.  Our Industrial Equipment industry group serves the
      industrial and electrical equipment, construction, consumer durable and
      heavy equipment industries. We help our clients increase operating and
      supply chain efficiency by improving processes and leveraging technology.
      We also help them generate value from strategic mergers and acquisitions.
      Our Industrial Equipment industry group also develops and deploys
      innovative solutions in the area of channel management, collaborative
      product design, remote field maintenance, enterprise application
      integration and outsourcing.

    . Pharmaceuticals & Medical Products.  Our Pharmaceuticals & Medical
      Products industry group serves pharmaceuticals, biotechnology, medical
      products and other industry-related companies. With knowledge in
      discovery, development, manufacturing, supply chain, and sales and
      marketing issues, we help companies identify and exploit opportunities
      for value creation, such as reducing the time it takes to develop and
      deliver new drugs to market through process improvements and
      implementation of technology. This industry group also helps clients
      integrate new discovery technologies, realize the potential of genomics
      and biotechnology, become more patient-centric, and create new business
      models that deliver medical breakthroughs more rapidly.

    . Retail.  Our Retail industry group serves a wide spectrum of retailers
      ranging from convenience stores to destination stores, including
      supermarkets, specialty premium retailers and large mass-merchandise
      discounters. Our Retail industry group professionals work with clients to
      improve operational performance, increase advertising and merchandising
      effectiveness, and enhance supply chain and customer relationship
      management capabilities.

    . Transportation & Travel Services.  Our Transportation & Travel Services
      industry group serves clients in the airline, freight transportation,
      third-party logistics, hospitality, gaming, car rental, passenger rail
      and travel distribution industries. We help clients develop and implement
      strategies and solutions to improve customer relationship management
      capabilities, operate more-efficient networks, integrate supply chains,
      develop procurement and electronic business marketplace strategies and
      more effectively manage maintenance, repair and overhaul processes and
      expenses.

  Resources

    Our Resources global market unit serves the energy, chemicals, utilities,
metals, mining, forest products and related industries. With market conditions
creating incentives for major investment by energy companies, deregulation
fundamentally reforming the utilities industry, major globalization and
strategy shifts in the chemicals industry and an increasing focus on supply
chain management, we are working with clients to create innovative solutions
that are designed to help them differentiate themselves in the marketplace and
gain competitive advantage.

                                      3

<PAGE>

    Our Resources global market unit comprises the following industry groups:

    . Chemicals.  This industry group has significant resources in Europe,
      Asia, Japan and the Americas and works with a wide cross-section of
      industry segments, including specialty chemicals, industrial chemicals,
      polymers and plastics, gases and life science companies. We also have
      long-term operations contracts with many of the industry leaders and have
      worked closely with many chemical industry electronic marketplaces and
      start-ups.

    . Energy.  Our Energy industry group serves a wide range of companies in
      the oil and gas industry, including upstream, downstream and oil services
      companies. We help clients create cross-industry synergies and
      operational efficiencies through our multi-client outsourcing centers,
      forge alliances to advance integrated industry solutions, build new
      markets in Asia, establish electronic procurement exchanges, build and
      enhance trading and risk management operations, and exploit new business
      technologies.

    . Forest Products.  The Forest Products industry group helps our clients in
      the pulp and paper business achieve improvements in business performance
      from the individual mill level throughout the value chain. We also help
      our Forest Products clients use electronic commerce and the Internet to
      drive incremental value.

    . Metals & Mining.  Our Metals & Mining industry group serves metals
      industry clients located in the world's key mining regions, including
      North America, Latin America, South Africa, Australia and South East
      Asia. The Metals & Mining industry group works with clients in areas such
      as electronic commerce, including procurement, supply-chain management
      and customer service.

    . Utilities.  Our Utilities industry group works with electric, gas and
      water utilities around the world to respond to an evolving and highly
      competitive marketplace. Our work includes helping utilities transform
      themselves from state-owned, regulated local entities to global
      deregulated corporations, as well as developing diverse products and
      service offerings to help our clients deliver higher levels of
      convenience and service to their customers. These offerings include
      trading and risk management, supply chain optimization and customer
      relationship management.

  Government

    As the world's largest employers, governments face the challenge of
improving the efficiency of their service delivery by creating new
citizen-centric business models that harness the power of new technologies. Our
Government global market unit works with government agencies in a number of
countries, helping them transform to meet the demands of citizens and
businesses. We typically work with defense, revenue, human services, justice,
postal, education and electoral authorities, whose budgets typically account
for a substantial majority of a country's overall government expenditures.

    Our Government clients typically are national, provincial or state-level
government organizations, and to a lesser extent, cities and other forms of
local government. We advise on, implement and in some cases operate government
services, enabling our clients to use their resources more efficiently and to
deliver citizen-centric services. We also work with clients to transform their
back-office operations, build Web interfaces and enable services to be
delivered over the Internet. In addition, many government agencies are moving
beyond information-only Web sites to full-service Internet portals that offer a
single entry point for citizens and businesses to access integrated services
and information. We have developed and implemented portal strategies for
numerous federal, state and local governments. Additionally, we use the
Internet and other new technologies to help defense agencies manage their
supply chains and improve procurement processes.

                                      4

<PAGE>

Service Lines

    Through our eight service lines we develop and deliver a full spectrum of
services and solutions that address business opportunities and challenges
common across industries. In addition to the nearly 55,000 professionals who
specialize in a service line within a particular industry group, we have more
than 8,000 professionals dedicated full-time to our service lines. Each of
these professionals focuses exclusively on one service line, helping develop
knowledge, assets and innovative solutions for clients across all of our
industry groups. We use our service line expertise to incubate and develop new,
scalable service offerings to meet the evolving needs of our clients.

  Strategy & Business Architecture

    The professionals within our Strategy & Business Architecture service line
work with individuals at the highest levels of our clients' organizations on
their most critical strategy and information technology issues. To help clients
unlock new sources of value, we provide a wide array of strategic planning and
design services and advise clients on significant decisions relating to
corporate governance, alliances, mergers and acquisitions and other
transformational decisions. In addition, our professionals analyze current and
emerging market trends to help clients identify new business opportunities.

  Customer Relationship Management

    Professionals in our Customer Relationship Management service line help
companies increase the value of their customer relationships and enhance the
economic value of their brands to acquire new customers and retain existing
ones. We offer a full range of capabilities that have positioned us as a
pioneer in the reinvention of marketing and customer relationship management.
These include proprietary approaches to improving the return on marketing
investments, innovative methods for uncovering insight into customers'
purchasing preferences and habits and tailoring products and services based on
that insight, and sophisticated techniques for integrating information so that
it is available to the customer at any point of interaction. Together with our
alliance partners, we bring in-depth skills to our clients, helping them create
superior customer experiences and enhance the value of their customer
relationships.

  Supply Chain Management

    We help clients gain a competitive advantage by optimizing their supply
chains and building networks to facilitate collaboration with suppliers and
business partners. Professionals in our Supply Chain Management service line
are dedicated to inventing new approaches to solve supply chain problems across
a broad range of industries. This includes designing more-efficient procurement
processes, optimizing product planning, strengthening supplier relationships,
and streamlining product development cycles. In addition, our Supply Chain
Management service line uses its expertise in areas such as strategic sourcing,
manufacturing strategy and operations, and logistics to provide strategic
advice and technology solutions that leverage the Web for procurement,
fulfillment and product design.

  Human Performance

    The professionals in our Human Performance service line help our clients
solve human performance issues critical to their operational success, from
recruiting and motivating key employees and management to developing outsourced
and netsourced processes and training for their employees. Our integrated
approach provides human resources, knowledge management, learning and
performance management solutions that increase the efficiency and effectiveness
of our clients' employees and operations, while reducing recruiting and
training costs.

                                      5

<PAGE>

  Finance & Performance Management

    The professionals in our Finance & Performance Management service line work
with our clients' key financial managers to support management of, and
reporting by, the finance department; to develop and implement solutions that
help them align their companies' investments with their business objectives; to
use the Internet to manage the treasury function; and to establish security
around the exchange of information to reporting institutions. Among the
services we provide are strategic consulting with regard to the design and
structure of the finance function, particularly post-merger or acquisition, and
the establishment of shared service centers for streamlining transaction
processing. Our services also address pricing and yield management, billing,
credit, lending and debt recovery.

  Technology Research & Innovation

    Professionals in our Technology Research & Innovation service line
research, invent and commercialize cutting-edge business solutions using new
and emerging technologies. Our research helps develop innovative ideas based on
technology advances that can be applied to changing marketplace dynamics.
Through the Accenture Technology Labs, we continually identify and dedicate
significant resources to the next-wave technologies that we believe will be
drivers of our clients' growth and sources of first-mover advantage by enabling
clients to be first to market with a unique capability or service offering.

  Solutions Engineering

    Professionals in our Solutions Engineering service line design, build and
deploy complex industry-specific, reusable and scalable solutions that
typically integrate business processes, technology and human performance
components. Among other things, they maintain and enhance our methods and
practices for building technology-based solutions in an efficient and
predictable manner. We have expertise and capabilities in a wide range of
areas, including electronic commerce infrastructure, security, enterprise
resource planning, enterprise application integration, data warehousing and
pre-packaged business solution delivery. We have developed program and project
management skills and methodologies that allow us to achieve on-time delivery
of highly complex projects.

  Solutions Operations

    Our Solutions Operations service line provides a range of outsourcing
solutions for managing technology infrastructure, applications and business
processes and is our primary source of strategy and capability for executing
initiatives in business transformation outsourcing. We are differentiated in
our delivery of outsourcing services through our creation of solutions that
help transform the way industries work and our ability to combine industry,
technology and functional expertise with outsourcing capabilities. In addition,
we are expanding our outsourcing capabilities in several industries through a
variety of shared-service solutions, including customer information management,
billing systems, information technology services, supply chain management and
human resources administration. Our outsourcing solutions also include our
netsourcing capability, which allows clients to take advantage of
state-of-the-art Internet-based capabilities, such as Web hosting and direct
Internet access to a wide array of business solutions. We provide many of these
capabilities, including training, supply chain integration and managed
financial reporting, in conjunction with our alliance partners.

Delivery Centres

    One of our key strengths is our ability to create and capture replicable
components of methodologies and technologies, which we can customize to create
tailored solutions for our clients in a cost-effective manner and under
demanding time constraints. Our global network of Accenture Delivery Centres
enhances

                                      6

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our ability to capitalize on our vast array of methodologies, tools and
technology to deliver value to our clients. Our more than 20 delivery centres
are facilities where teams of Accenture professionals use proven methodologies
and existing assets to create business solutions for clients.

Affiliates, Alliances and Accenture Technology Ventures Portfolio Companies

    Our affiliates, alliances and portfolio companies enhance the ability of
our market units and service lines to deliver value to clients by providing us
with insight into and access to emerging business models, products and
technologies.

Affiliates

    If a capability that we do not already possess is of strategic importance
and value to us but is in an area that is best developed in a business model
outside our client service business, we may form a new business, often with one
or more third parties, to develop that capability. We call these businesses
affiliates. These entities can rapidly advance a particular opportunity by
building upon our global platform of clients, professionals and business
expertise. Our affiliates include Avanade Inc., e-peopleserve, Epylon
Corporation, Imagine Broadband Limited, Indeliq, Inc. and Navitaire Inc.
Avanade is a company we jointly own with Microsoft that focuses on large-scale
technology integration surrounding Microsoft's enterprise
platform. e-peopleserve is a human resources solution provider we own with
British Telecommunications. Epylon provides e-procurement capability for
government entities and educational institutions. Imagine Broadband provides
interactive broadband solutions and platform implementation to cable, satellite
and telecommunications network operators worldwide. Indeliq develops scalable
performance simulation electronic learning applications based on patents and
technology that we contributed to Indeliq. Navitaire provides airlines with
reservations, ticketing and revenue management services.

Alliances

    Because today's business environment demands more speed, flexibility and
resources than exist at any single company, strategic alliances are an
important part of our strategy. Through our strategic alliances, we work with
established and early-stage technology companies in virtually every field,
allowing us to incorporate market-leading insights and deliver an array of
capabilities for our clients' diverse business needs. We seek to form alliances
with leading companies and organizations whose capabilities complement our own,
whether by extending or deepening a service offering, delivering a new
technology or business process, or helping us extend our services to new
geographies.

Accenture Technology Ventures Portfolio Companies

    Accenture Technology Ventures, our venture capital business, provides us
with insight into and access to emerging business models, products and
technologies for the benefit of our management and technology consulting
business and enables us to generate returns from investments in emerging growth
technology companies. The companies in which Accenture Technology Ventures
invests, which we refer to as portfolio companies, also benefit from access to
our industry expertise and client relationships. Accenture Technology Ventures'
investment strategy includes funding for private companies and focuses on
software and information technology investments.

Research and Innovation

    We are committed to developing leading-edge ideas. We believe that research
and innovation have been major factors in our success and will help us continue
to grow in the future. We use our investment

                                      7

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in research to help create, commercialize and disseminate innovative business
strategies and technology. Our research and innovation program is designed to
generate early insights into how knowledge can be harnessed to create
innovative business solutions for our clients and to develop business
strategies with significant value. We spent $256 million, $252 million and $271
million on research and development in fiscal years 1999, 2000 and 2001,
respectively, primarily through both our global market units and our service
lines to develop market-ready solutions for our clients. We also promote the
creation of knowledge capital and thought leadership through the Accenture
Technology Labs, the Accenture Institute for Strategic Change and the Accenture
Ideas Exchanges.

Accenture Organizational Structure

    Accenture Ltd is a Bermuda holding company with no material assets other
than Class I and Class II common shares in our subsidiary, Accenture SCA, a
Luxembourg partnership limited by shares. Accenture Ltd's only business is to
hold these shares and to act as the sole general partner of Accenture SCA. As
the general partner of Accenture SCA and as a result of Accenture Ltd's
majority voting interest in Accenture SCA, Accenture Ltd controls Accenture
SCA's management and operations and consolidates Accenture SCA's results in its
financial statements. We operate our business through subsidiaries of Accenture
SCA. Accenture SCA reimburses Accenture Ltd for its expenses but does not pay
Accenture Ltd any fees.

    Prior to our transition to a corporate structure in fiscal 2001, we
operated as a series of related partnerships and corporations under the control
of our partners. In connection with our transition to a corporate structure,
our partners generally exchanged all of their interests in these partnerships
and corporations for Accenture Ltd Class A common shares or, in the case of
partners resident in certain countries, Accenture SCA Class I common shares or
exchangeable shares issued by Accenture Canada Holdings Inc., an indirect
subsidiary of Accenture SCA. Generally, partners who received Accenture SCA
Class I common shares or Accenture Canada Holdings Inc. exchangeable shares
also received a corresponding number of Accenture Ltd Class X common shares
which entitle their holders to vote at Accenture Ltd shareholders' meetings but
do not carry any economic rights.

    Each Class A common share and each Class X common share of Accenture Ltd
entitles its holder to one vote on all matters submitted to a vote of
shareholders of Accenture Ltd. The holder of a Class X common share is not,
however, entitled to receive dividends or to receive payments upon a
liquidation of Accenture Ltd.

    Each Class I common share and each Class II common share of Accenture SCA
entitles its holder to one vote on all matters submitted to a vote of
shareholders of Accenture SCA. Each Accenture SCA Class II common share
entitles Accenture Ltd to receive a dividend or liquidation payment equal to
10% of any dividend or liquidation payment to which an Accenture SCA Class I
common share entitles its holder. Accenture Ltd holds all of the Class II
common shares of Accenture SCA.

    Subject to contractual transfer restrictions, Accenture SCA is obligated,
at the option of the holder, to redeem any outstanding Accenture SCA Class I
common share at any time at a redemption price per share generally equal to the
market price of an Accenture Ltd Class A common share at the time of the
redemption. Accenture SCA may, at its option, pay this redemption price with
cash or by delivering Accenture Ltd Class A common shares on a one-for-one
basis. In addition, each of our partners in the United States, Australia and
Norway has agreed that we may cause that partner to exchange that partner's
Accenture SCA Class I common shares for Accenture Ltd Class A common shares on
a one-for-one basis if Accenture Ltd holds more than 40% of the issued share
capital of Accenture SCA and we receive a satisfactory opinion from counsel or
a professional tax advisor that such exchange should be without tax

                                      8

<PAGE>

cost to that partner. This one-for-one redemption price and exchange ratio will
be adjusted if Accenture Ltd holds more than a de minimis amount of assets
(other than its interest in Accenture SCA and assets it holds only transiently
prior to contributing them to Accenture SCA) or incurs more than a de minimis
amount of liabilities (other than liabilities for which Accenture SCA has a
corresponding liability to Accenture Ltd). Accenture Ltd does not intend to
hold any material assets other than its interest in Accenture SCA or to incur
any material liabilities such that this one-for-one redemption price and
exchange ratio would require adjustment. In order to maintain Accenture Ltd's
economic interest in Accenture SCA, Accenture SCA will issue common shares to
Accenture Ltd each time additional Accenture Ltd Class A common shares are
issued.

    Holders of Accenture Canada Holdings Inc. exchangeable shares may exchange
their shares for Accenture Ltd Class A common shares at any time on a
one-for-one basis. Accenture Canada Holdings Inc. may, at its option, satisfy
this exchange with cash at a price per share generally equal to the market
price of an Accenture Ltd Class A common share at the time of the exchange.
Each exchangeable share of Accenture Canada Holdings Inc. entitles its holder
to receive distributions equal to any distributions to which an Accenture Ltd
Class A common share entitles its holder.

    Accenture Ltd may, at its option, redeem any Class X common share for a
redemption price equal to the par value of the Class X common share, or
$0.0000225 per share. Accenture Ltd may not, however, redeem any Class X common
share of a holder if such redemption would reduce the number of Class X common
shares held by that holder to a number that is less than the number of
Accenture SCA Class I common shares or Accenture Canada Holdings Inc.
exchangeable shares held by that holder, as the case may be. Accenture Ltd will
redeem Accenture Ltd Class X common shares upon redemption or exchange of
Accenture SCA Class I common shares and Accenture Canada Holdings Inc.
exchangeable shares so that the aggregate number of Class X common shares
outstanding at any time does not exceed the aggregate number of Accenture SCA
Class I common shares and Accenture Canada Holdings Inc. exchangeable shares
outstanding.

    We use the term "partner" to refer to the partners and shareholders of the
series of related partnerships and corporations through which Accenture
operated its business prior to its transition to a corporate structure. These
individuals became executive employees of Accenture following its transition to
a corporate structure but retain the "partner" title. Where the context
permits, the term also refers to Accenture's employees and others who have been
or are in the future named as "partners" in this executive sense.

Employees

    Our most important asset is our people. We are deeply committed to the
long-term development of our employees. Each professional receives extensive
and focused technical and managerial skills development training throughout his
or her career with us. We seek to reinforce our employees' commitment to our
clients, culture and values through a comprehensive performance review system
and a competitive compensation philosophy that rewards individual performance
and teamwork. We strive to maintain a work environment that reinforces our
partnership culture and the collaboration, motivation, alignment of interests
and sense of ownership and reward that our partnership culture has sustained.

    As of August 31, 2001, we had more than 75,000 employees worldwide, of whom
approximately 2,400 were partners.

Competition

    We operate in a highly competitive and rapidly changing global market and
compete with a variety of organizations that offer services similar to those
that we offer. In addition, a client may choose to use its

                                      9

<PAGE>

own resources rather than engage an outside firm for the types of services we
provide. Our competitors include information technology outsourcing and
services companies, certain large accounting firms that have significant
consulting operations, management and strategy consulting firms, specialized
electronic business consulting firms and information technology product and
service vendors.

    Our revenues are derived primarily from Fortune Global 500 and Fortune 1000
companies, medium-sized companies, governmental organizations and other large
enterprises. There is an increasing number of professional services firms
seeking consulting engagements with these organizations. We believe that the
principal competitive factors in the consulting industry in which we operate
include:

    . skills and capabilities of people;

    . reputation and client references;

    . price;

    . scope of services;

    . service delivery approach;

    . perceived ability to add value;

    . quality of advice given;

    . focus on achieving results on a timely basis;

    . availability of appropriate resources; and

    . global reach and scale.

Forward-Looking Statements and Certain Factors That May Affect Our Business

    We have included in this Annual Report on Form 10-K forward-looking
statements relating to our operations that are based on our current
expectations, estimates and projections. Words such as "expects," "intends,"
"plans," "projects," "believes," "estimates" and similar expressions are used
to identify these forward-looking statements. These statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Forward-looking statements are based
upon assumptions as to future events that may not prove to be accurate. Actual
outcomes and results may differ materially from what is expressed or forecast
in these forward-looking statements. The reasons for this include changes in
general economic and political conditions, including fluctuations in exchange
rates, and the following factors:

    . A significant or prolonged economic downturn could have a material
      adverse effect on our results of operations.  Our results of operations
      are affected by the level of business activity of our clients, which in
      turn is affected by the level of economic activity in the industries and
      markets that they serve. In addition, our business tends to lag behind
      economic cycles in an industry. A decline in the level of business
      activity of our clients could have a material adverse effect on our
      revenues and profit margin.

    . Our business will be negatively affected if we are not able to anticipate
      and keep pace with rapid changes in technology or if growth in the use of
      technology in business is not as rapid as in the past. Our success,
      depends, in part, on our ability to develop and implement management and
      technology solutions that anticipate and keep pace with rapid and
      continuing changes in technology, industry standards and client
      preferences. We may not be successful in anticipating or responding to
      these developments on a timely basis, and our ideas

                                      10

<PAGE>

      may not be successful in the marketplace. Also, products and technologies
      developed by our competitors may make our service or solution offerings
      uncompetitive or obsolete. Our business is also dependent, in part, upon
      continued growth in the use of technology in business, and if the use of
      technology in business does not continue to grow, demand for our services
      may decrease.

    . We may face damage to our professional reputation or legal liability if
      our clients are not satisfied with our services.  As a professional
      services firm, we depend to a large extent on our relationships with our
      clients and our reputation for high-caliber professional services and
      integrity to attract and retain clients. As a result, if a client is not
      satisfied with our services or solutions, including those of
      subcontractors we employ, it may be more damaging in our business than in
      other businesses.

    . Our services or solutions may infringe upon the intellectual property
      rights of others.  We cannot be sure that our services and solutions, or
      the products of others that we offer to our clients, do not infringe on
      the intellectual property rights of third parties, and we may have
      infringement claims asserted against us or against our clients. These
      claims may harm our reputation, cost us money and prevent us from
      offering some services or solutions.

    . Our engagements with clients may not be profitable.  Unexpected costs or
      delays could make our contracts unprofitable. When contracts are
      terminated, we lose the associated revenues and we may not be able to
      eliminate associated costs in a timely manner. Our clients typically
      retain us on a non-exclusive, engagement-by-engagement basis and we
      estimate that the majority of our contracts can be terminated by our
      clients with short notice and without significant penalty. Furthermore,
      in limited circumstances we extend financing to our clients and may fail
      to collect amounts so extended.

    . If our affiliates, alliances or venture capital portfolio companies do
      not succeed, we may not be successful in implementing our growth
      strategy.  We have invested a substantial amount of time and resources in
      our affiliates, alliances and venture capital portfolio companies, and we
      plan to make substantial additional investments in the future. The
      benefits we anticipate from these relationships are an important
      component of our growth strategy. If these relationships do not succeed,
      we may lose our investments or fail to obtain the benefits we hope to
      derive from them.

    . Our global operations pose complex management, foreign currency, legal,
      tax and economic risks, which we may not adequately address.  These risks
      include: the absence in some jurisdictions of effective laws to protect
      our intellectual property rights; multiple and possibly overlapping and
      conflicting tax laws; restrictions on the movement of cash; the burdens
      of complying with a wide variety of national and local laws; political
      instability; currency fluctuations; longer payment cycles; restrictions
      on the import and export of certain technologies; price controls or
      restrictions on exchange of foreign currencies; and trade barriers.

    . Our transition to a corporate structure in fiscal 2001 may adversely
      affect our ability to recruit, retain and motivate our partners and other
      key employees, which in turn could adversely affect our ability to
      compete effectively and to grow our business.  We face additional
      retention risk because of our transition to a corporate structure in
      fiscal 2001. While most of the equity interests held by our partners are
      subject to transfer restrictions, the transfer restrictions lapse over
      time, may not be enforceable in all cases and can be waived. In addition,
      in connection with our transition to a corporate structure, our partners
      have accepted significant reductions in their cash compensation. The
      substitution of equity, equity-based incentives and other employee
      benefits in lieu of higher cash compensation may not be sufficient to
      retain these individuals in the near or long term. There is no guarantee
      that the non-competition agreements we have entered into with our
      partners are sufficiently broad to

                                      11

<PAGE>

      prevent them from leaving us for our competitors or other opportunities
      or that these agreements will be enforceable in all cases. Also, the
      incentives we offer to attract, retain and motivate our non-partner
      employees may not be as effective as the opportunity, which existed prior
      to our transition to a corporate structure, to hold a partnership
      interest in Accenture.

    . We have only a limited ability to protect our intellectual property
      rights, which are important to our success.  We rely upon a combination
      of trade secrets, confidentiality policies, nondisclosure and other
      contractual arrangements, and patent, copyright and trademark laws to
      protect our intellectual property rights. The steps we take in this
      regard may not be adequate to prevent or deter infringement or other
      misappropriation of our intellectual property, and we may not be able to
      detect unauthorized use of, or take appropriate and timely steps to
      enforce, our intellectual property rights.

    . Our profitability will suffer if we are not able to maintain our prices
      and utilization rates and control our costs.  Our profit margin, and
      therefore our profitability, is largely a function of the rates we are
      able to charge for our services and the utilization rate, or
      chargeability, of our professionals. Accordingly, if we are not able to
      maintain the rates we charge for our services or an appropriate
      utilization rate for our professionals, we will not be able to sustain
      our profit margin and our profitability will suffer.

    . Our quarterly revenues, operating results and profitability will vary
      from quarter to quarter, which may result in increased volatility of our
      share price.  Our quarterly revenues, operating results and profitability
      have varied in the past and are likely to vary significantly from quarter
      to quarter, making them difficult to predict. The factors that are likely
      to cause these variations are: seasonality; the business decisions of our
      clients regarding the use of our services; the timing of projects and
      their termination; the timing and extent of gains and losses on our
      portfolio of investments; the timing of income or loss from affiliates;
      our ability to transition employees quickly from completed projects to
      new engagements; the introduction of new solutions or services by us or
      our competitors; changes in our pricing policies or those of our
      competitors; our ability to manage costs, including personnel costs and
      support services costs; costs related to possible acquisitions of other
      businesses; and global economic conditions.

    . Our share price may decline due to the large number of Class A common
      shares eligible for future sale.  Sales of substantial amounts of
      Accenture Ltd Class A common shares, or the perception of these sales,
      may adversely affect the price of the Class A common shares and impede
      our ability to raise capital through the issuance of equity securities.
      On each of the first eight anniversaries of the consummation of the
      initial public offering of the Class A common shares, Class A common
      shares held by our partners will become available for sale in significant
      numbers and Accenture SCA Class I common shares and Accenture Canada
      Holdings Inc. exchangeable shares held by our partners will become
      redeemable or exchangeable for freely transferable Class A common shares
      in significant numbers.

    . We are registered in Bermuda, and a significant portion of our assets are
      located outside the United States. As a result, it may not be possible
      for shareholders to enforce civil liability provisions of the federal or
      state securities laws of the United States.  We are organized under the
      laws of Bermuda, and a significant portion of our assets are located
      outside the United States. It may not be possible to enforce court
      judgments obtained in the United States against us in Bermuda or in
      countries, other than the United States, where we have assets based on
      the civil liability provisions of the federal or state securities laws of
      the United States. In addition, there is some doubt as to whether the
      courts of Bermuda and other countries would recognize or enforce
      judgments of U.S. courts obtained against us or our directors or officers
      based on the civil liabilities provisions of the federal or state
      securities laws of the United States or would hear actions against us or
      those persons based on those laws. We have

                                      12

<PAGE>

      been advised by our legal advisors in Bermuda that the United States and
      Bermuda do not currently have a treaty providing for the reciprocal
      recognition and enforcement of judgments in civil and commercial matters.
      Therefore, a final judgment for the payment of money rendered by any
      federal or state court in the United States based on civil liability,
      whether or not based solely on U.S. federal or state securities laws,
      would not automatically be enforceable in Bermuda. Similarly, those
      judgments may not be enforceable in countries, other than the United
      States, where we have assets.

    . Bermuda law differs from the laws in effect in the United States and may
      afford less protection to shareholders.  Our shareholders may have more
      difficulty protecting their interests than would shareholders of a
      corporation incorporated in a jurisdiction of the United States. As a
      Bermuda company, we are governed by the Companies Act 1981 of Bermuda.
      The Companies Act differs in some material respects from laws generally
      applicable to U.S. corporations and shareholders, including the
      provisions relating to interested directors, mergers and acquisitions,
      takeovers, shareholder lawsuits and indemnification of directors.

      Under Bermuda law, the duties of directors and officers of a company are
      generally owed to the company only. Shareholders of Bermuda companies do
      not generally have rights to take action against directors or officers of
      the company, and may only do so in limited circumstances. Officers of a
      Bermuda company must, in exercising their powers and performing their
      duties, act honestly and in good faith with a view to the best interests
      of the company and must exercise the care and skill that a reasonably
      prudent person would exercise in comparable circumstances. Directors have
      a duty not to put themselves in a position in which their duties to the
      company and their personal interests may conflict and also are under a
      duty to disclose any personal interest in any contract or arrangement
      with the company or any of its subsidiaries. If a director or officer of
      a Bermuda company is found to have breached his duties to that company,
      he may be held personally liable to the company in respect of that breach
      of duty. A director may be liable jointly and severally with other
      directors if it is shown that the director knowingly engaged in fraud or
      dishonesty. In cases not involving fraud or dishonesty, the liability of
      the director will be determined by the Bermuda courts on the basis of
      their estimation of the percentage of responsibility of the director for
      the matter in question, in light of the nature of the conduct of the
      director and the extent of the causal relationship between his conduct
      and the loss suffered.

                                      13

<PAGE>

                                    PART II

ITEM 6.  SELECTED FINANCIAL DATA

    The following selected financial data have been presented on a historical
cost basis for all periods presented. The data as of August 31, 2000 and 2001
and for the years ended August 31, 1999, 2000 and 2001 are derived from the
audited historical financial statements and related notes which are included
elsewhere in this annual report. The data as of August 31, 1999 and for the
year ended August 31, 1998 are derived from the audited historical financial
statements and related notes which are not included in this annual report. The
data as of August 31, 1997 and 1998 and for the year ended August 31, 1997 are
derived from unaudited historical financial statements and related notes which
are not included in this annual report. The selected financial data should be
read in conjunction with "Management's Discussion and Analysis of Financial
Condition and Results of Operations," and our historical financial statements
and related notes included elsewhere in this annual report.
<TABLE>
<CAPTION>
                                               Year ended August 31,
                                     -----------------------------------------
                                      1997    1998    1999     2000     2001
                                     ------- ------- -------  -------  -------
                                     Revised Revised Revised  Revised  Revised
                                                   (in millions)
<S>                                  <C>     <C>     <C>      <C>      <C>
Income Statement Data:
Revenues:
 Revenues before reimbursements..... $6,275  $8,215  $ 9,550  $ 9,752  $11,444
 Reimbursements(1)..................  1,085   1,296    1,326    1,579    1,618
                                     ------  ------  -------  -------  -------
  Revenues(1).......................  7,360   9,511   10,876   11,331   13,062
Operating expenses:*
 Cost of services:*
  Cost of services before
    reimbursable expenses*..........  3,470   4,700    5,457    5,486    6,200
  Reimbursable expenses(1)..........  1,085   1,296    1,326    1,579    1,618
                                     ------  ------  -------  -------  -------
  Cost of services*(1)..............  4,555   5,996    6,783    7,065    7,818
 Sales and marketing*...............    611     696      790      883    1,217
 General and administrative costs*..    819   1,036    1,271    1,297    1,516
 Reorganization and rebranding costs     --      --       --       --      848
 Restricted share unit-based
  compensation......................     --      --       --       --      967
                                     ------  ------  -------  -------  -------
  Total operating expenses*(1)......  5,985   7,728    8,844    9,245   12,366
                                     ------  ------  -------  -------  -------
Operating income*...................  1,375   1,783    2,032    2,086      696
Gain on investments, net............     --      --       92      573      107
Interest income.....................     --      --       60       67       80
Interest expense....................    (19)    (17)     (27)     (24)     (44)
Other income (expense)..............      4      (6)      (5)      51       17
Equity in losses of affiliates......     --      (1)      (6)     (46)     (61)
                                     ------  ------  -------  -------  -------
Income before taxes*................  1,360   1,759    2,146    2,707      795
Provision for taxes(2)..............    118      74      123      243      503
                                     ------  ------  -------  -------  -------
Income before minority interest and
 accounting change*.................  1,242   1,685    2,023    2,464      292
Minority interest...................     --      --       --       --      577
                                     ------  ------  -------  -------  -------
Income before accounting change*....  1,242   1,685    2,023    2,464      869
Cumulative effect of accounting
 change.............................     --      --       --       --      188
                                     ------  ------  -------  -------  -------
  Partnership income before partner
    distributions*(3)............... $1,242  $1,685  $ 2,023  $ 2,464
                                     ======  ======  =======  =======
  Net income*.......................                                   $ 1,057
                                                                       =======
</TABLE>
<TABLE>
<CAPTION>
                                             As of August 31,
                                    ----------------------------------
                                     1997   1998   1999   2000   2001
                                    ------ ------ ------ ------ ------
                                              (in millions)
          <S>                       <C>    <C>    <C>    <C>    <C>
          Balance Sheet Data:
          Cash and cash equivalents $  325 $  736 $1,111 $1,271 $1,880
          Working capital..........    175    531    913  1,015    401
          Total assets.............  2,550  3,704  4,615  5,451  6,061
          Long-term debt...........    192    157    127     99      1
          Total partners' capital..    761  1,507  2,208  2,368     --
          Shareholders' equity.....     --     --     --     --    282
</TABLE>
--------
*  Excludes payments for partner distributions in respect of periods ended on
   or prior to May 31, 2001.
(1) Reimbursements and reimbursable expenses previously reported have been
    reduced by corresponding amounts for certain intercompany transactions that
    had not been eliminated. These adjustments reduced previously reported
    Reimbursements, Revenues, Reimbursable expenses, Cost of services, and
    Operating expenses by $87, $129, $203, $209 and $286 in 1997, 1998, 1999,
    2000 and 2001, respectively.
(2) Provision for taxes is not the same as income taxes of a corporation for
    historical periods. We operated through partnerships in many countries.
    Therefore, we generally were not subject to income taxes in those
    countries. Taxes related to income earned by our partnerships were the
    responsibility of the individual partners. In other countries, we operated
    through corporations, and in these circumstances we were subject to income
    taxes.
(3) Partnership income before partner distributions is not comparable to net
    income of a corporation similarly determined. Partnership income in
    historical periods is not executive compensation in the customary sense
    because partnership income is comprised of distributions of current
    earnings. Accordingly, compensation and benefits for services rendered by
    partners have not been reflected as an expense in our historical financial
    statements.

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<PAGE>

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

    The following discussion and analysis should be read in conjunction with
our historical financial statements and related notes included elsewhere in
this report.

    All references to years, unless otherwise noted, refer to our fiscal year,
which ends on August 31. For example, a reference to "2001" or "fiscal year
2001" means the 12-month period that ended on August 31, 2001. All references
to quarters, unless otherwise noted, refer to the quarters of our fiscal year.

Overview

    The results of our operations are affected by the level of economic
activity and change in the industries we serve. Our business is also driven, in
part, by the pace of technological change and the type and level of technology
spending by our clients. The ability to identify and capitalize on these
technological and market changes early in their cycles is a key driver of our
performance. Our cost management strategy is to anticipate changes in demand
for our services and to identify cost-management initiatives in order to manage
costs as a percentage of revenues.

    Prior to May 31, 2001, we operated as a series of related partnerships and
corporations under the control of our partners. We now operate in a corporate
structure. As a business, whether in partnership form or in a corporate
structure, our profitability is driven by many of the same factors. Revenues
are driven by our partners' and senior executives' ability to secure contracts
for new engagements and to deliver solutions and services that add value to our
clients. Our ability to add value to clients and therefore drive revenues
depends in part on our ability to offer market-leading service offerings and to
deploy skilled teams of professionals quickly and on a global basis. While
current economic conditions have caused some clients to reduce or defer their
expenditures for consulting services, we believe we have gained market share in
this environment. Despite the slowdown in the economy, we are positioning
ourselves to achieve revenue growth principally through our business
transformation outsourcing solutions. However, we are unable to predict the
level of impact that the current economic environment will have on our ability
to secure contracts for new engagements.

    Cost of services is primarily driven by the cost of client service
personnel, which consists primarily of compensation and other personnel costs.
Cost of services as a percentage of revenues is driven by the productivity of
our client service workforce. Chargeability, or utilization, represents the
percentage of our professionals' time spent on billable work. We plan and
manage our headcount to meet the anticipated demand for our services. For
example, in 2001, we announced initiatives to reduce our staff in certain parts
of the world, in certain skill groups and in some support positions. Selling
and marketing expense is driven primarily by development of new service
offerings, the level of concentration of clients in a particular industry or
market, client targeting, image development and brand-recognition activities.
General and administrative costs generally correlate with changes in headcount
and activity levels in our business.

Presentation

    As a result of a restructuring in 1989, we and our "member firms," which
are now our subsidiaries, became legally separate and distinct from the Arthur
Andersen firms. Thereafter, until August 7, 2000, we had contractual
relationships with an administrative entity, Andersen Worldwide, and indirectly
with the separate Arthur Andersen firms under various member firm agreements
whereby we and our member firms, on the one hand, and Arthur Andersen and its
member firms, on the other hand, were two stand- alone business units linked
through such agreements to Andersen Worldwide for administrative and other


                                      15

<PAGE>

services. Following arbitration proceedings between us and Andersen Worldwide
and Arthur Andersen that were completed in August 2000, the tribunal terminated
our contractual relationships with the Andersen Worldwide administrative entity
and all Arthur Andersen member firms. On January 1, 2001, we began to conduct
business under the name Accenture.

    Because we have historically operated as a series of related partnerships
and corporations under the control of our partners, our partners generally
participated in profits, rather than received salaries. Therefore, our
historical financial statements in respect of periods ended on or prior to May
31, 2001 do not reflect any compensation or benefit costs for services rendered
by them. Following our transition to a corporate structure, operating expenses
include partner compensation, which consists of salary, variable compensation
and benefits. Similarly, in periods when we operated primarily in the form of
partnerships, our partners have paid income tax on their share of the
partnerships' income. Therefore, our historical financial statements in respect
of periods ended on or prior to May 31, 2001 do not reflect the income tax
liability that we would have paid as a corporation. Following our transition to
a corporate structure, we are subject to corporate tax on our income. For
purposes of comparing our results for 2000 with our results for 2001, we have
included pro forma financial information below.

Segments

    Our five reportable operating segments are our operating groups (formerly
referred to as global market units), which are Communications & High Tech,
Financial Services, Government, Products and Resources. Operating groups are
managed on the basis of revenues before reimbursements because our management
believes it is a better indicator of operating group performance than revenues.
Generally, operating expenses for each operating group have similar
characteristics and are subject to the same drivers, pressures and challenges.
While most operating expenses apply to all segments, some sales and marketing
expenses are typically lower as a percentage of revenues in industry groups
whose client base is concentrated and higher in industry groups whose client
base is more fragmented. The discussion and analysis related to each
operational expense category applies to all segments, unless otherwise
indicated.

    In the first quarter of fiscal 2002 we made certain changes in the format
of information presented to the chief executive officer. The most significant
of these changes was the elimination of interest expense from the five
operating groups' operating income and the elimination of interest credit from
Other's operating income. Also, the consolidated affiliated companies' revenue
and operating income (loss) results are included in the five operating groups'
results rather than being reported in Other. Segment results for all periods
presented have been revised to reflect these changes.

Revenues

    Revenues include all amounts that are billable to clients. Revenues are
recognized on a time-and-materials basis, or on a percentage-of-completion
basis, depending on the contract, as services are provided by employees and
subcontractors. In fiscal 2001, approximately 55% of our revenues were
attributable to activities in the Americas, 38% of our revenues were
attributable to our activities in Europe, the Middle East and Africa, and 7% of
our revenues were attributable to our activities in the Asia/Pacific region.

    Revenues before reimbursements include the margin earned on computer
hardware and software resale contracts, as well as revenues from alliance
agreements, neither of which is material to us. Reimbursements, including those
relating to travel and out-of-pocket expenses, and other similar third party
costs, such as the cost of hardware and software resales, are included in
revenues, and an equivalent amount of reimbursable expenses is included in cost
of services. On October 10, 2002, Accenture announced that as a result of a
calculation error it was revising downwards previously reported

                                      16

<PAGE>

Reimbursements and Reimbursable expenses by equal amounts for certain
intercompany transactions that had not been fully eliminated. These adjustments
reduced Reimbursements, Revenues, Reimbursable Expenses, Cost of services and
Total operating expenses by $203,427 in 1999, $209,266 in 2000 and $286,000 in
2001. These adjustments had no effect on Revenues before reimbursements,
Operating income, Net Income or Earnings per share.

    Client prepayments (even if nonrefundable) are deferred, i.e., classified
as a liability, and recognized over future periods as services are delivered or
performed.

    Generally, our contracts are terminable by the client on short notice or
without notice. Accordingly, we do not believe it is appropriate to
characterize these contracts as backlog. Normally if a client terminates a
project, the client remains obligated to pay for commitments we have made to
third parties in connection with the project, services performed and
reimbursable expenses incurred by us through the date of termination.

    While we have many types of contracts including time-and-materials
contracts, fixed-price contracts and contracts with features of both of these
contract types, we have been moving away from contracts that are priced solely
on a time-and-materials basis toward contracts that also include incentives
related to costs incurred, benefits produced and our adherence to schedule. We
estimate that a majority of our contracts have some fixed-price,
incentive-based or other pricing terms that condition our fee on our ability to
deliver defined goals. The trend to include greater incentives in our contracts
related to costs incurred, benefits produced or adherence to schedule, may
increase the variability in revenues and margins earned on such contracts. We
conduct rigorous reviews prior to signing such contracts to evaluate whether
these incentives are reasonably achievable.

    We have experienced pricing pressures over the last year as a result of the
difficult economic environment, which have eroded our revenues somewhat.
However, we have also implemented cost- management programs such that operating
margins have been maintained or improved over this period. Current and future
cost-management initiatives may not be sufficient to maintain our margins if
the current challenging economic environment continues for several quarters.

Operating Expenses

    Operating expenses include variable and fixed direct and indirect costs
that are incurred in the delivery of our solutions and services to clients. The
primary categories of operating expenses include cost of services, sales and
marketing, and general and administrative costs.

  Cost of Services

    Cost of services includes the direct costs to provide services to our
clients. Such costs generally consist of compensation for client service
personnel, the cost of subcontractors hired as part of client service teams,
costs directly associated with the provision of client service, such as
facilities for outsourcing contracts and the recruiting, training, personnel
development and scheduling costs of our client service personnel.
Reimbursements, including those relating to travel and other out-of-pocket
expenses, and other similar third-party costs, such as the cost of hardware and
software resales, are included in revenues, and an equivalent amount of
reimbursable expenses is included in cost of services.

  Sales and Marketing

    Sales and marketing expense consists of expenses related to promotional
activities, market development, including costs to develop new service
offerings, and image development, including advertising and market research.

                                      17

<PAGE>

  General and Administrative Costs

    General and administrative costs primarily include costs for non-client
service personnel, information systems and office space. Through various
cost-management initiatives, we seek to manage general and administrative costs
proportionately in line with or below anticipated changes in revenues.

  Reorganization and Rebranding Costs

    Reorganization and rebranding costs include one-time costs to rename our
organization Accenture and other costs to transition to a corporate structure.
Substantially all of these costs were incurred in fiscal year 2001 and no
material costs were incurred in fiscal year 2002.

  Restricted Share Unit-based Compensation

    Restricted share unit-based compensation reflects restricted share unit
awards which were granted at the time of the initial public offering of the
Accenture Ltd Class A common shares on July 19, 2001, and vested prior to
August 31, 2001. These restricted share units were granted to some of our
partners, former partners, employees and former employees pursuant to a formula
adopted by the board of directors.

Gain (Loss) on Investments

    Gain (loss) on investments primarily represents gains and losses on the
sales of marketable securities and writedowns on investments in securities.
These fluctuate over time, are not predictable and may not recur. Beginning on
September 1, 2000, they also include changes in the fair market value of equity
holdings considered to be derivatives in accordance with SFAS 133.

    After exploring a number of alternatives, we have decided to sell
substantially all of our minority ownership interests in our venture and
investment portfolio that could cause volatility in our future earnings. To
facilitate this sale, we expect to aggregate these positions into a single
subsidiary, which we would then sell. Related to this decision, our loss on
investments in the second quarter of fiscal 2002 includes a charge of $212
million, before and after tax, related to investment writedowns of our venture
and investment portfolio and the loss we expect to incur on this sale
transaction. After giving effect to the charge, we expect our venture and
investment portfolio to have a net book value of approximately $95 million, $43
million of which is hedged. We expect to receive offers that allow us to retain
a modest percentage ownership of the subsidiary in connection with an ongoing
alliance with the buyer. We have engaged an investment bank and are currently
engaged in discussions with potential purchasers. We hope to complete the
transaction by the end of the calendar year.

    We will continue to make investments and will accept equity and
equity-linked securities using guidelines intended to eliminate volatility, but
will discontinue venture capital investing.

Interest Income

    Interest income represents interest earned on cash and cash equivalents.
Interest income also includes interest earned on a limited number of client
engagement receivables when we agree in advance to finance those receivables
for our clients beyond the normal billing and collection period.

Interest Expense

    Interest expense primarily reflects interest incurred on borrowings.

                                      18

<PAGE>

Other Income (Expense)

    Other income (expense) consists of currency exchange gains (losses) and the
recognition of income from vesting of options for services by our
representatives on boards of directors of those companies in which we invest.
In general, we earn revenues and incur related costs in the same currency. We
hedge significant planned movements of funds between countries, which
potentially give rise to currency exchange gains (losses).

Equity in Gains (Losses) of Affiliates

    Equity in gains (losses) of affiliates represents our share of the
operating results of non-consolidated companies over which we have significant
influence.

Provision for Taxes

    Prior to our transition to a corporate structure, we were generally not
subject to income taxes in most countries because we operated in partnership
form in those countries. Since taxes related to income earned by the
partnerships were the responsibility of the individual partners, our partners
reported and paid taxes on their share of the partnerships' income on their
individual tax returns. In other countries, however, we operated in the form of
a corporation or were otherwise subject to entity-level taxes on income and
withholding taxes. As a result, prior to our transition to a corporate
structure, we paid some entity-level taxes, with the amount varying from year
to year depending on the mix of earnings among the countries. Where applicable,
we accounted for these taxes under the asset and liability method. Therefore,
our historical financial statements in respect of periods ended on or prior to
May 31, 2001 do not reflect the income tax liability that we would have paid as
a corporation. Following our transition to a corporate structure, we are
subject to corporate tax on our income.

Minority Interest

    Minority interest eliminates the income earned or expense incurred
attributable to the equity interest that some of our partners have in our
subsidiary Accenture SCA and the equity interest that some of our partners have
in our subsidiary Accenture Canada Holdings Inc. See "Accenture Organizational
Structure." The resulting net income of Accenture Ltd represents the income
attributable to the shareholders of Accenture Ltd.

Partnership Income Before Partner Distributions

    Our historical financial statements in respect of periods ended on or prior
to May 31, 2001 reflect our organization as a series of related partnerships
and corporations under the control of our partners. The income of our partners
in historical periods is not executive compensation in the customary sense
because in those periods partner compensation was comprised of distributions of
current earnings, out of which our partners were responsible for their payroll
taxes and benefits.

Net Income

    Net income reflects the earnings of our organization under a corporate
structure. We have provided pro forma financial results which include
adjustments to exclude one-time items and other adjustments to include partner
compensation and income taxes necessary to present our historical financial
statements in respect of periods ended on or prior to May 31, 2001 in corporate
structure as if the transition had occurred on September 1, 2000.

                                      19

<PAGE>

Critical Accounting Policies and Estimates

  Revenue Recognition

    We derive substantially all our revenues from contracts for management and
technology service offerings and solutions that we develop, implement and
manage for our clients. Depending on the terms of the contract, revenues are
recognized on a time-and-materials basis or on a percentage-of-completion basis
as services are provided by our employees, and to a lesser extent,
subcontractors. Revenues from time-and-materials service contracts are
recognized as the services are provided. Revenues from long-term system
integration contracts are recognized based on the percentage of services
provided during the period compared to the total estimated services to be
provided over the duration of the contract. This method is followed where
reasonably dependable estimates of the revenues and costs applicable to various
elements of a contract can be made. Estimates of total contract revenues and
costs are continuously monitored during the term of the contract, and recorded
revenues and costs are subject to revision as the contract progresses. Such
revisions, which may result in increases or decreases to revenues and income,
are reflected in the financial statements in the period in which they are first
identified.

    Each contract has different terms based on the scope, deliverables and
complexity of the engagement, the terms of which frequently require us to make
judgments and estimates about recognizing revenue. While we have many types of
contracts including time-and-materials contracts, fixed-price contracts and
contracts with features of both of these contract types, we have been moving
away from contracts that are priced solely on a time-and-materials basis toward
contracts that also include incentives related to costs incurred, benefits
produced and our adherence to schedule. We estimate that a majority of our
contracts have some fixed-price, incentive-based or other pricing terms that
condition our fee on our ability to deliver defined goals. For systems
integration contracts, estimated revenues for applying the
percentage-of-completion method include estimated incentives for which
achievement of defined goals is deemed probable. Incentives relating to
non-systems integration projects are not recorded until the contingency is
achieved.

    In recent years, our outsourcing business has increased significantly.
Determining revenue and margins on outsourcing contracts requires judgment.
Typically the terms of these contracts span several years. In a number of these
arrangements we hire client employees and become responsible for client
obligations. Revenues are recognized as services are performed or as
transactions are processed in accordance with contractual standards, and costs
on outsourcing contracts are generally charged to expense as incurred. This
typically results in a relatively stable margin percentage over the life of the
contract. Outsourcing contracts can also include incentive payments for
benefits delivered to clients. Revenues relating to such incentive payments are
not recorded until the contingency is achieved.

  Taxes

    Determining the consolidated provision for income tax expense, deferred tax
assets and liabilities and related valuation allowance involves judgment. As a
global company with offices in 47 countries, we are required to calculate and
provide for income taxes in each of the tax jurisdictions where we operate.
This involves estimating current tax exposures in each jurisdiction as well as
making judgments regarding the recoverability of deferred tax assets. To
determine the quarterly tax rate we are required to estimate full year income
and the related income tax expense in each jurisdiction. Tax exposures can
involve complex issues and may require an extended period to resolve. Changes
in the geographic mix or estimated level of annual pre-tax income can affect
the overall effective tax rate.

                                      20

<PAGE>

  Valuation of Investments

    Gains and losses on investments are not predictable and can cause
fluctuations in net income. Management conducts periodic impairment reviews of
each investment in the portfolio, including historical and projected financial
performance, expected cash needs and recent funding events.
Other-than-temporary impairments are recognized in the income statement if the
market value of the investment is below its cost basis for an extended period
or the issuer has experienced significant financial declines or difficulties in
raising capital to continue operations. Judgment is required to first determine
the market value of each investment and then to assess whether impairments are
temporary or other-than-temporary. Changes in the market value of equity
derivatives are reflected in the income statement in the current period.
Adverse changes in the financial condition of our investments could result in
impairment charges. We have decided to sell substantially all of our minority
ownership interests in our venture and investment portfolio that could cause
volatility in our future earnings. See "--Gain (Loss) on Investments" for a
discussion of our plans with respect to our investment portfolio.

Historical Results of Operations

    The following table sets forth the unaudited percentage of revenues
represented by items in our Combined and Consolidated Income Statements for the
periods presented.

<TABLE>
<CAPTION>
                                                             Year ended August 31,
                                                             --------------------
                                                             1999    2000   2001
                                                             ----    ----   ----
     <S>                                                     <C>     <C>    <C>
     Revenues:
       Revenues before reimbursements.......................  88%     86%    88%
       Reimbursements (1)...................................  12      14     12
                                                             ---     ---    ---
         Revenues (1)....................................... 100     100    100
     Operating expenses:*
       Cost of services:*
        Cost of services before reimbursable expenses*......  50      49     48
        Reimbursable expenses (1)...........................  12      14     12
                                                             ---     ---    ---
        Cost of services* (1)...............................  62      63     60
       Sales and marketing*.................................   7       8      9
       General and administrative costs*....................  12      11     12
       Reorganization and rebranding costs..................  --      --      7
       Restricted share unit-based compensation.............  --      --      7
                                                             ---     ---    ---
         Total operating expenses* (1)......................  81      82     95
     Operating income*(2)...................................  19      18      5
     Gain (loss) on investments, net........................   1       5      1
     Interest income........................................ n/m     n/m    n/m
     Interest expense....................................... n/m     n/m    n/m
     Other income (expense)................................. n/m     n/m    n/m
     Equity in losses of affiliates......................... n/m     n/m    n/m
                                                             ---     ---    ---
     Income before taxes*...................................  20      24      6
     Provision for taxes....................................   1       2      4
                                                             ---     ---    ---
     Income before minority interest and accounting change*.  19      22      2
     Minority interest......................................  --      --      4
                                                             ---     ---    ---
     Income before accounting change*.......................  19      22      6
     Cumulative effect of accounting change.................  --      --      2
                                                             ---     ---    ---
         Partnership income before partner distributions*...  19%     22%
                                                             ===     ===
         Net income*........................................                  8%
                                                                            ===
</TABLE>
--------
n/m = not meaningful
 *  Excludes payments for partner distributions in respect of periods ended on
    or prior to May 31, 2001.
(1) Reimbursements and Reimbursable expenses previously reported have been
    reduced by corresponding amounts for certain intercompany transactions that
    had not been eliminated. These adjustments reduced previously reported
    Reimbursements, Revenues, Reimbursable expenses, Cost of services and Total
    operating expenses by $203, $209, and $286 in 1999, 2000 and 2001,
    respectively.
(2) Operating income as a percentage of revenues before reimbursements was 21%,
    21% and 6% for 1999, 2000 and 2001, respectively.

                                      21

<PAGE>

    We provide services through five operating groups. The following table
provides unaudited financial information for each of these operating groups.
<TABLE>
<CAPTION>
                                                                     Year ended August 31,
                                                                   --------------------------------
                                                                     1999        2000       2001
                                                                    -------     -------    -------
                                                                   (in millions, except percentages)
<S>                                                                <C>         <C>        <C>
Revenues:
  Communications & High Tech...................................... $ 2,499     $ 2,806    $ 3,238
  Financial Services..............................................   2,736       2,542      2,894
  Government......................................................     777         797      1,003
  Products........................................................   1,699       1,932      2,357
  Resources.......................................................   1,812       1,661      1,933
  Other...........................................................      27          14         19
                                                                    -------     -------    -------
    Total revenues before reimbursements..........................   9,550       9,752     11,444
  Reimbursements (1)..............................................   1,326       1,579      1,618
                                                                    -------     -------    -------
    Total......................................................... $10,876     $11,331    $13,062
                                                                    =======     =======    =======
Revenues as a percentage of total:
  Communications & High Tech......................................      23%         25%        25%
  Financial Services..............................................      25          22         22
  Government......................................................       7           7          8
  Products........................................................      16          17         18
  Resources.......................................................      17          15         15
  Other...........................................................     n/m         n/m        n/m
                                                                    -------     -------    -------
    Total revenues before reimbursements..........................      88          86         88
  Reimbursements (1)..............................................      12          14         12
                                                                    -------     -------    -------
    Total.........................................................     100%        100%       100%
                                                                    =======     =======    =======
Operating Income:
  Communications & High Tech...................................... $   557     $   671    $   449
  Financial Services..............................................     824         666        537
  Government......................................................     103          80         75
  Products........................................................     263         416        363
  Resources.......................................................     285         264        235
  Other...........................................................       0         (11)      (963)
                                                                    -------     -------    -------
    Total......................................................... $ 2,032     $ 2,086    $   696
                                                                    =======     =======    =======
Operating Income as a percentage of total:
  Communications & High Tech......................................      27%         32%        64%
  Financial Services..............................................      41          32         77
  Government......................................................       5           4         11
  Products........................................................      13          20         52
  Resources.......................................................      14          13         34
  Other...........................................................     n/m          (1)      (138)
                                                                    -------     -------    -------
    Total.........................................................     100%        100%       100%
                                                                    =======     =======    =======
Operating Income as a percentage of total revenues before
  reimbursements by operating group:
  Communications & High Tech......................................      22%         24%        14%
  Financial Services..............................................      30          26         19
  Government......................................................      13          10          7
  Products........................................................      15          22         15
  Resources.......................................................      16          16         12
  Other...........................................................     n/m         n/m        n/m
Operating Income as a percentage of revenues before reimbursements      21%         21%         6%
                                                                    =======     =======    =======
Operating Income as a percentage of revenues (1)..................      19%         18%         5%
                                                                    =======     =======    =======
</TABLE>
--------
n/m = not meaningful
(1) Reimbursements and Reimbursable expenses previously reported have been
    reduced by corresponding amounts for certain intercompany transactions that
    had not been eliminated. These adjustments reduced previously reported
    Reimbursements, Revenues, Reimbursable expenses, Cost of services and Total
    operating expenses by $203, $209, and $286 in 1999, 2000 and 2001,
    respectively.

                                      22

<PAGE>

Pro Forma Financial Information

    The following pro forma consolidated income statement for the year ended
August 31, 2001 is based on our historical financial statements included
elsewhere in this report.

    The pro forma consolidated income statement gives effect to the following
as if they occurred on September 1, 2000:

    . the transactions related to our transition to a corporate structure
      described under "Certain Relationships and Related
      Transactions--Reorganization and Related Transactions";

    . compensation payments to employees who were partners prior to our
      transition to a corporate structure;

    . provision for corporate income taxes; and

    . our initial public offering in July 2001.

    The pro forma as adjusted consolidated income statements give effect to the
pro forma adjustments described above and also to the exclusion of one-time
rebranding costs of $304 million incurred in connection with our name change to
Accenture. Management believes that this pro forma as adjusted information
provides useful supplemental information in understanding its results of
operations.

    The pro forma and pro forma as adjusted consolidated income statement for
the year ended August 31, 2001 excludes one-time events directly attributable
to our initial public offering, because of their nonrecurring nature. These
one-time events include:

    . net compensation cost of approximately $967 million resulting from the
      grant of restricted share units in connection with our initial public
      offering; and

    . approximately $544 million for costs associated with our transition to a
      corporate structure.

    The pro forma and pro forma as adjusted consolidated income statement for
the year ended August 31, 2001 excludes the effect of a cumulative change in
accounting principle to implement Statement of Financial Accounting Standards
No. 133, "Accounting for Derivative Instruments and Hedging Activities."

    The pro forma adjustments are based upon available information and
assumptions that management believes are reasonable.

    This information and the accompanying notes should be read in conjunction
with our historical financial statements and the related notes included
elsewhere in this report. The information presented is not necessarily
indicative of the results of operations or financial position that might have
occurred had the events described above actually taken place as of the dates
specified or that may be expected to occur in the future.

                                      23

<PAGE>

  Pro Forma Consolidated Income Statement For the Year Ended August 31, 2001
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                      As adjusted      Pro forma       % of
                                          As reported Adjustments       Pro forma     adjustments     as adjusted    revenues
                                          ----------- -----------   --------------    -----------  --------------    --------
                                                    (in millions, except percentages and share and per share data)
<S>                                       <C>         <C>           <C>               <C>          <C>               <C>
Revenues:
 Revenues before reimbursements..........   $11,444     $    --     $       11,444       $  --     $       11,444       88%
 Reimbursements(1).......................     1,618          --              1,618          --              1,618       12
                                            -------     -------     --------------       -----     --------------      ---
   Revenues(1)...........................    13,062          --             13,062          --             13,062      100%
Operating expenses:
 Cost of services*
   Cost of services before reimbursable
    expenses*............................     6,200         725(a)           6,925          --              6,925       53
   Reimbursable expenses(1)..............     1,618          --              1,618          --              1,618       12
                                            -------     -------     --------------       -----     --------------      ---
   Cost of services*(1)..................     7,818         725              8,543          --              8,543       65
 Sales and marketing*....................     1,217         290(a)           1,507          --              1,507       12
 General and administrative costs*.......     1,516          44(a)           1,560          --              1,560       12
 Reorganization and rebranding costs.....       848        (544)(b)            304        (304)(h)             --      n/m
 Restricted share unit-based
   compensation..........................       967        (967)(c)             --          --                 --      n/m
                                            -------     -------     --------------       -----     --------------      ---
 Total operating expenses*(1)............    12,366        (452)            11,914        (304)            11,610       89
                                            -------     -------     --------------       -----     --------------      ---
Operating income*........................       696         452              1,148         304              1,452       11
Gain on investments, net.................       107          --                107          --                107        1
Interest income..........................        80          --                 80          --                 80      n/m
Interest expense.........................       (44)        (15)(d)            (59)         --                (59)     n/m
Other income (expense)...................        17          --                 17          --                 17      n/m
Equity in losses of affiliates...........       (61)         --                (61)         --                (61)     n/m
                                            -------     -------     --------------       -----     --------------      ---
Income before taxes*.....................       795         437              1,232         304              1,536       12
Provision for taxes(2)...................       503         (10)(e)            493         121(e)             614        5
                                            -------     -------     --------------       -----     --------------      ---
Income before minority interest and
 accounting change*......................       292         447                739         183                922        7
Minority interest........................       577      (1,013)(f)           (436)       (109)(f)           (545)      (4)
                                            -------     -------     --------------       -----     --------------      ---
 Income before accounting change*........   $   869     $  (566)    $          303       $  74     $          377        3%
                                            =======     =======     ==============       =====     ==============      ===
Earnings per share:
 --basic.................................                           $         0.73                 $         0.91
                                                                    ==============                 ==============
 --diluted...............................                           $         0.73                 $         0.91
                                                                    ==============                 ==============
Outstanding shares at August 31, 2001:
 --basic.................................                              412,705,954(g)                 412,705,954(g)
                                                                    ==============                 ==============
 --diluted...............................                            1,008,163,290(g)               1,008,163,290(g)
                                                                    ==============                 ==============
</TABLE>
--------
n/m = not meaningful
*   Historical information excludes payments for partner distributions with
    respect to periods ended on or prior to May 31, 2001.
(1) Reimbursements and Reimbursable expenses previously reported have been
    reduced by corresponding amounts for certain intercompany transactions that
    had not been eliminated. These adjustments reduced previously reported
    Reimbursements, Revenues, Reimbursable expenses, Cost of services and Total
    operating expenses by $286 in 2001.
(2) Provision for taxes is not the same as income taxes of a corporation. For
    periods ended on or prior to May 31, 2001, we operated through partnerships
    in many countries. Therefore, we generally were not subject to income taxes
    in those countries. Taxes related to income earned by our partnerships were
    the responsibility of the individual partners. In other countries, we
    operated through corporations, and in these circumstances we were subject
    to income taxes.

                                      24

<PAGE>

                   Notes to Pro Forma Financial Information
                                  (Unaudited)
                (in millions, except share and per share data)

(a) Adjustments totaling $1,059 for the year ended August 31, 2001, reflect the
    effects of partner compensation and benefit costs as if our transition to a
    corporate structure had occurred on September 1, 2000. Prior to having a
    corporate structure, payments to our partners were generally accounted for
    as distributions of partners' income, rather than compensation expense. For
    the year ended August 31, 2001, compensation and benefit costs of partners
    have been allocated 69% to cost of services, 27% to sales and marketing,
    and 4% to general and administrative costs based on an estimate of the time
    spent on each activity at the appropriate cost rates.

    The compensation plan adopted upon our transition to a corporation includes
    a fixed salary, benefits and performance-based bonuses. All elements of the
    new compensation plan, including bonuses, have been reflected in the pro
    forma adjustments because our partners would have earned the bonuses based
    on our results of operations for the historical periods. Benefit costs are
    medical, dental and payroll taxes, all of which are based on estimated
    costs that would have been incurred had these benefits been in place during
    the historical periods.

(b) One-time reorganization costs were incurred during the year ended August
    31, 2001. Reorganization costs for the year ended August 31, 2001 include
    $89 of restructuring costs relating to our transition to a corporate
    structure and $455 of indirect taxes, such as capital and stamp duty
    imposed on transfers of assets to the new corporate holding company
    structure.

(c) In connection with our initial public offering, 68,481,815 fully-vested
    restricted share units at $14.50 per share were granted in July 2001 to
    certain partners, former partners and employees. The $967 expense
    represents the fair value of fully vested restricted share units less $26
    relating to canceled liabilities for a deferred bonus plan for employees.
    Each restricted share unit represents an unfunded, unsecured right, which
    is nontransferable except in the event of death, of a participant to
    receive a Class A common share on the date specified in the participant's
    award agreement.

(d) Reflects adjustments of $15 for the year ended August 31, 2001,
    representing estimated interest expense on early-retirement benefits
    payable to partners.

(e) Reflects adjustments for an estimated income tax provision as if we had
    operated in a corporate structure at a pro forma tax rate of 40%. The
    adjustment for the year ended August 31, 2001 is net of $222 relating to
    the revaluation of deferred tax liabilities upon change in tax status,
    including income taxes relating to mandatory changes in tax accounting
    methods, from a partnership to a corporate structure. As a series of
    related partnerships and corporations under the control of our partners, we
    generally were not subject to income taxes. However, some of the
    corporations were subject to income taxes in their local jurisdictions.

(f) Minority interests for the year ended August 31, 2001 are based on the
    assumption that minority interests as of August 31, 2001 existed throughout
    the fiscal year and do not give effect to the offering. As of August 31,
    2001 partners owned a 59% minority interest in Accenture SCA and Accenture
    Canada Holdings. Since Accenture Ltd is the sole general partner of
    Accenture SCA and owns the majority of the voting shares, Accenture Ltd
    consolidates Accenture SCA and its subsidiaries. Although the other
    shareholders of Accenture SCA hold more than 50% of the economic interest
    in Accenture SCA, they do not have voting control and therefore are
    considered to be a minority interest.

                                      25

<PAGE>

(g) Earnings per share calculations for the year ended August 31, 2001 are
    based on the assumption that shares and share equivalents outstanding as of
    August 31, 2001 were outstanding throughout the year and do not give effect
    to the offering. For the purposes of the pro forma earnings per share
    calculation, diluted outstanding shares include Accenture Class A common
    shares issuable or exchangeable upon redemption or exchange of shares held
    by SCA Class I common shareholders and Accenture Canada Holdings
    shareholders. The weighted average shares outstanding, basic and diluted,
    were calculated based on:

<TABLE>
<CAPTION>
    Share issuances                                  Basic       Diluted
    ---------------                               ----------- -------------
    <S>                                           <C>         <C>
    Accenture Ltd Class A common shares.......... 343,307,238   343,307,238
    Accenture SCA Class I common shares..........          --   587,296,594
    Accenture Canada Holdings exchangeable shares          --     8,160,742
    Restricted share units.......................  69,398,716    69,398,716
                                                  ----------- -------------
    Weighted average shares outstanding.......... 412,705,954 1,008,163,290
                                                  =========== =============
</TABLE>

(h) One-time rebranding costs were incurred during the year ended August 31,
    2001. Rebranding costs for the year ended August 31, 2001 include $157 for
    the amortization of intangible assets relating to the final resolution of
    arbitration with Andersen Worldwide and Arthur Andersen as well as $147
    from changing our name to Accenture. These amounts are considered pro forma
    as adjusted adjustments due to their nonrecurring nature.

Year Ended August 31, 2001 Compared to Year Ended August 31, 2000

    Our results of operations in respect of periods ended on or prior to May
31, 2001 reflect the fact that we operated as a series of related partnerships
and corporations prior to that date, and our results of operations in respect
of periods ending after May 31, 2001 reflect that we commenced operations in
corporate structure on that date. Accordingly, in order to provide a more
meaningful comparison of our results for fiscal year 2001 as compared to fiscal
year 2000, we comment below on our results for those periods both on a
historical basis and a pro forma as adjusted basis.

Revenues

    Revenues for 2001 were $13,062 million, an increase of $1,731 million, or
15%, over 2000. Revenues before reimbursements for 2001 were $11,444 million,
an increase of $1,692 million, or 17%, over 2000 in U.S. dollars. In local
currency terms, revenues before reimbursements grew by 23% in 2001 over 2000.

    In 2001, our revenues grew significantly, continuing a trend that began in
the second half of 2000 as our clients began to focus on new transformation and
implementation initiatives after Year 2000 disruptions proved to be minimal. In
addition, demand for our services grew as clients began to explore
Web-enablement and electronic commerce strategies and solutions both in the
business-to-business and business-to-consumer areas. We believe that this
strong revenue growth was the result of our rapid response to changes in the
marketplace and our creation and refinement of relevant service offerings. In
addition, by focusing on the retraining of our client service personnel during
the Year 2000-related slowdown, we positioned ourselves to take advantage of
the growth opportunities in these new markets. We achieved this strong revenue
growth in 2001 despite the difficult economic conditions that many of our
clients' industries experienced. We experienced continued growth in revenues in
the fourth quarter of 2001, though at a slower rate of growth than in the third
quarter of 2001.

                                      26

<PAGE>

    Our Communications & High Tech operating group achieved revenues before
reimbursements of $3,238 million in 2001, an increase of 15% over 2000,
primarily due to strong growth in our Communications and Electronics & High
Tech industry groups in North America. Operations in Europe and Latin America
also experienced significant growth. Our Financial Services operating group
achieved revenues before reimbursements of $2,894 million in 2001, an increase
of 14% over 2000, primarily due to strong growth in our Banking industry group
in Europe and North America and our Health industry group in North America. Our
Government operating group achieved revenues before reimbursements of $1,003
million in 2001, an increase of 26% over 2000, primarily driven by strong
growth in North America and the United Kingdom. Our Products operating group
achieved revenues before reimbursements of $2,357 million in 2001, an increase
of 22% over 2000, as a result of strong growth in our Retail and Consumer Goods
& Services industry groups in Europe. Our Resources operating group achieved
revenues before reimbursements of $1,933 million in 2001, an increase of 16%
over 2000, as a result of strong growth in the Chemicals, Forest Products,
Metals & Mining and Utilities industry groups in North America.

Operating Expenses

    Operating expenses in 2001 were $12,366 million, an increase of $3,121
million, or 34%, over 2000 and an increase as a percentage of revenues from 82%
in 2000 to 95% in 2001.

    Pro forma as adjusted operating expenses were $11,610 million for 2001, an
increase of $1,279 million, or 12%, over pro forma operating expenses of
$10,331 million for 2000 (which reflects $1,086 million of partner compensation
and benefit costs as if our transition to a corporate structure had occurred on
September 1, 1999; prior to having a corporate structure, payments to our
partners were generally accounted for as distributions of partners' income,
rather than compensation expense) and a decrease as a percentage of revenues
from 91% in 2000 to 89% in 2001.

    We continue to implement long-term and short-term cost management
initiatives aimed at keeping overall growth in operating expenses less than the
growth in revenues. The long-term initiatives focus on global reductions in
infrastructure costs. In addition, the costs of delivering training have been
reduced by moving toward Web-enabled and other lower cost distribution methods.
The short-term initiatives focus on reducing variable costs, such as headcount
in select administrative areas, and limiting travel and meeting costs.

  Cost of Services

    Cost of services was $7,818 million in 2001, an increase of $753 million,
or 11%, over 2000 and a decrease as a percentage of revenues from 63% in 2000
to 60% in 2001. Cost of services before reimbursable expenses was $6,200
million in 2001, an increase of $714 million, or 13%, over 2000 and a decrease
as a percentage of revenues before reimbursements from 56% in 2000 to 54% in
2001. This decrease as a percentage of revenues and revenues before
reimbursements resulted from increased demand for our services and lower
employee compensation costs resulting from the promotion of 1,286 employees to
partner effective September 1, 2000. The increase in partner admissions was
designed to incentivize our professionals at an earlier stage in their careers
with us.

    Pro forma as adjusted cost of services before reimbursable expenses was
$6,925 million in 2001, an increase of $798 million, or 13%, over pro forma
cost of services before reimbursable expenses of $6,127 million for 2000 (which
reflects $641 million of partner compensation and benefit costs as if our
transition to a corporate structure had occurred on September 1, 1999) and a
decrease as a percentage of revenues from 54% in 2000 to 53% in 2001. This
decrease as a percentage of revenues can be attributed primarily to a favorable
mix in the composition of our workforce, reduced costs related to recruiting and

                                      27

<PAGE>

training and redirected efforts to sales and marketing in the second half of
2001. Lower attrition enabled us to retain a more experienced workforce, which
commands a higher margin. While overall employee chargeability declined in 2001
versus 2000, chargeable hours for our experienced employees as a percentage of
total chargeable hours increased. Lower attrition enabled us to reduce our
expenditures in recruiting, and the move to Web-enabled and other lower cost
distribution methods reduced our costs of delivering training.

  Sales and Marketing

    Sales and marketing expense was $1,217 million in 2001, an increase of $334
million, or 38%, over 2000 and an increase as a percentage of revenues from 8%
in 2000 to 9% in 2001.

    Pro forma as adjusted sales and marketing expense was $1,507 million in
2001, an increase of $320 million, or 27%, over pro forma sales and marketing
expense of $1,187 million in 2000 (which reflects $304 million of partner
compensation and benefit costs as if our transition to a corporate structure
had occurred on September 1, 1999) and an increase as a percentage of revenues
from 10% in 2000 to 12% in 2001.

    The increase as a percentage of revenues in 2001 is due to higher than
normal business development and market development activities during the second
half of the year, as the slowdown in the global economy in the second half of
the year led us to increase our selling and marketing efforts in order to
generate revenue opportunities.

  General and Administrative Costs

    General and administrative costs were $1,516 million in 2001, an increase
of $219 million, or 17%, over 2000 and increased as a percentage of revenues
from 11% in 2000 to 12% in 2001.

    Pro forma as adjusted general and administrative expenses were $1,560
million in 2001, an increase of $122 million, or 8%, over pro forma general and
administrative expenses of $1,438 million in 2000 (which reflects $141 million
of partner compensation and benefit costs as if our transition to a corporate
structure had occurred on September 1, 1999) and a decrease as a percentage of
revenues from 13% in 2000 to 12% in 2001.

    Our short-term cost management initiatives in this period of significant
growth in revenues enabled us to reduce general and administrative expenses as
a percentage of revenues.

  Reorganization and Rebranding Costs

    Reorganization and rebranding costs were $848 million, or 7% of revenues
for 2001. Reorganization costs included $89 million of restructuring costs
relating to our transition to a corporate structure and $455 million of
indirect taxes and other costs imposed on transfers of assets to the new
corporate holding company structure. Rebranding costs included $157 million for
the amortization of intangible assets related to the final resolution of the
arbitration with Andersen Worldwide and Arthur Andersen and $147 million
resulting from changing our name to Accenture. These costs are excluded from
our pro forma as adjusted financial results as they are considered to be
one-time items.

  Restricted Share Unit-based Compensation

    Our grants of restricted share units to partners, former partners and
employees resulted in compensation cost of $967 million in the quarter ended
August 31, 2001. These costs are excluded from our pro forma as adjusted
financial results as they are considered to be one-time items.


                                      28

<PAGE>

Operating Income

    Operating income was $696 million in 2001, a decrease of $1,390 million, or
67%, from 2000 and a decrease as a percentage of revenues from 18% in 2000 to
5% in 2001. Operating income decreased as a percentage of revenues before
reimbursements from 21% in 2000 to 6% in 2001.

    Pro forma as adjusted operating income was $1,452 million in 2001, an
increase of $452 million, or 45%, over pro forma operating income of $1,000
million in 2000 (which reflects the effects of $1,086 million of partner
compensation and benefit costs as if our transition to a corporate structure
had occurred on September 1, 1999) and an increase as a percentage of revenues
from 9% in 2000 to 11% in 2001. Pro forma as adjusted operating income
increased as a percentage of revenues before reimbursements from 10% in 2000 to
13% in 2001.

Gain on Investments

    Gain on investments totaled $107 million in 2001, compared to a gain of
$573 million in 2000. The gain in 2001 was comprised of $382 million from the
sale of a marketable security purchased in 1995 and $11 million from the sale
of other securities, net of other-than-temporary impairment investment
writedowns of $94 million and unrealized investment losses recognized according
to SFAS 133 of $192 million. Other-than-temporary impairment writedowns
consisted of $19 million in publicly traded equity securities and $75 million
in privately traded equity securities. The writedowns relate to investments in
companies where the market value has been less than our cost for an extended
time period, or the issuer has experienced significant financial declines or
difficulties in raising capital to continue operations.

Interest Income

    Interest income was $80 million in 2001, an increase of $13 million, or
19%, over 2000. The increase resulted primarily from the investment of the
proceeds of the sale of a portion of a marketable security purchased in 1995
and the investment of cash proceeds received from our initial public offering.

Interest Expense

    Interest expense was $44 million in 2001, an increase of $20 million, or
83%, over 2000. Interest expense on a pro forma as adjusted basis was $59
million for 2001, an increase of $24 million, or 69% over interest expense on a
pro forma basis of $35 million in 2000 (which reflects an adjustment of $11
million representing estimated interest expense on early-retirement benefits
payable to partners). The increase resulted primarily from the increase in
short-term bank borrowings during the third and fourth quarters of 2001.

Other Income (Expense)

    Other income was $17 million in 2001, a decrease of $34 million from 2000,
primarily resulting from foreign exchange translations.

Equity in Losses of Affiliates

    Equity in losses of affiliates was a $61 million loss in 2001, compared to
a $46 million loss in 2000. In 2001, amortization of negative goodwill of $32
million was reflected as a component of equity in losses of affiliates,
compared to $1 million in 2000.

Provision for Taxes

    Taxes were $503 million in 2001, an increase of $260 million over 2000. Pro
forma as adjusted taxes were $614 million in 2001, a decrease of $30 million,
or 5%, over pro forma taxes of $644 million in 2000 (which reflects an
adjustment of $401 million for an estimated income tax provision as if we had

                                      29

<PAGE>

operated in a corporate structure at a pro forma tax rate of 40%). This
decrease was due to lower pro forma income before taxes for 2001 as compared to
2000. Net deferred tax assets totaling $300 million at August 31, 2001 have
been recognized following our transition to a corporate structure. These net
deferred tax assets include a valuation allowance of $76 million, relating to
our ability to recognize the tax benefits associated with capital losses on
certain U.S. investments and with specific tax net operating loss carryforwards
and tax credit carryforwards of certain non-U.S. operations. Management has
concluded that the realizability of the remaining net deferred tax assets is
more likely than not.

Minority Interest

    Minority interest was a credit of $577 million in 2001, which represents
minority interest since our transition to a corporate structure as of May 31,
2001. Minority interest on a pro forma as adjusted basis was an expense of $545
million for 2001, or a 5% decrease over a pro forma minority interest expense
of $571 million for 2000 (which is based on the assumption that minority
interests as of August 31, 2001 existed throughout 2000).

Cumulative Effect of Accounting Change

    The adoption of SFAS 133 resulted in cumulative income of $188 million on
September 1, 2000, which represents the cumulative unrealized gains resulting
from changes in the fair market value of equity holdings considered to be
derivatives by that statement.

Year Ended August 31, 2000 Compared to Year Ended August 31, 1999

    Because we operated as a series of related partnerships and corporations in
both 2000 and 1999, our results of operations for those periods are comparable.

Revenues

    Revenues for 2000 were $11,331 million, an increase of $455 million, or 4%,
over 1999. Revenues before reimbursements for 2000 were $9,752 million, an
increase of $202 million, or 2%, over 1999. Exchange rate fluctuations,
specifically with respect to the euro, negatively affected revenue growth as
measured in U.S. dollars. In local currency terms, revenues before
reimbursements grew by 6% over 1999. Our revenue growth was achieved in the
face of a challenging economic environment, which began in the second half of
1999 and was primarily related to Year 2000 events. Specifically, we
experienced a slowdown in information technology spending by large companies as
they completed large enterprise business systems installations in anticipation
of the Year 2000. In addition, there was reluctance by large companies to
commit to major new transformation and implementation projects until the impact
of Year 2000 concerns was fully understood. However, at the same time, we
experienced an increase in demand in the electronic commerce area. Accordingly,
we focused on developing capabilities and new service offerings to meet the
growing opportunities in these new areas. We retrained our workforce to
maintain market relevance to meet the demands of our clients in the emerging
new economy. During the second half of 2000, following the realization by our
clients that Year 2000 disruptions were minimal, we experienced increased
demand for our services, which led to stronger revenue growth beginning in the
third quarter. Specifically, revenue growth was (1%), 0%, 7% and 11% in the
first through fourth quarters of the year over the corresponding quarters in
the previous year.

    Our Communications & High Tech operating group achieved revenues before
reimbursements of $2,806 million in 2000, an increase of 12% over 1999,
primarily due to growth in Europe and Asia, which was partially offset by
slower growth in our North American operations because of the Year 2000-related
slowdown. Our Financial Services operating group achieved revenues before
reimbursements of

                                      30

<PAGE>

$2,542 million in 2000, a decrease of 7% from 1999, primarily driven by
decreasing levels of business activity in North America as a result of clients
focusing on Year 2000 concerns, as well as the effects of an unfavorable
interest rate environment and reduced client merger activity. Our Government
operating group achieved revenues before reimbursements of $797 million in
2000, an increase of 3% over 1999. The 2000 increase was lower than in 1999,
primarily as a result of government clients postponing large implementation
projects until Year 2000 concerns were resolved. Our Products operating group
achieved revenues before reimbursements of $1,932 million in 2000, an increase
of 14% over 1999, primarily driven by growth in North America from the Retail
and Transportation & Travel Services industry groups, as well as additional
growth in the Retail industry group in Europe. Our Resources operating group
achieved revenues before reimbursements of $1,661 million in 2000, a decrease
of 8% from 1999, primarily as the result of delayed merger activity as several
proposed mergers were delayed by regulatory concerns, and the completion of a
number of large enterprise resource planning implementation projects before
Year 2000.

Operating Expenses

    Operating expenses in 2000 were $9,245 million, an increase of $401
million, or 5%, over 1999 and increased as a percentage of revenues from 81% in
1999 to 82% in 2000. In anticipation of slower growth, we formed a special task
force in the second half of 1999 to identify cost drivers, raise cost
consciousness and reduce non-payroll cost structures, the results of which were
reflected in cost savings during 2000. In 2000, we began a training initiative
that focused on building electronic commerce skills and knowledge quickly. The
advent of electronic commerce also facilitated a move from traditional
classroom training toward Web-enabled distributed training that is designed to
deliver the same or better quality training in fewer hours at lower cost. We
expect this move toward Web-enabled and other distributed training to continue.

  Cost of Services

    Cost of services was $7,065 million in 2000, an increase of $282 million,
or 4%, over 1999 and increased as a percentage of revenues from 62% in 1999 to
63% in 2000. Cost of services before reimbursable expenses was $5,486 million
in 2000, an increase of $29 million, or 1%, over 1999 and a decrease as a
percentage of revenues before reimbursements from 57% in 1999 to 56% in 2000.
We were able to maintain overall cost of services as a percentage of revenues
and revenues before reimbursements at relatively constant levels through
periods of slow growth in the first half of 2000, followed by periods of
accelerated growth in the second half of 2000.

  Sales and Marketing

    Sales and marketing expense was $883 million in 2000, an increase of $93
million, or 12%, over 1999 and an increase as a percentage of revenues from 7%
in 1999 to 8% in 2000. The increase was primarily related to our employees
spending larger portions of their time on business development and market
development activities coupled with an increase in advertising to communicate
our electronic commerce capabilities to existing and potential clients. The
increased business development and market development activities were directed
toward increasing demand for our services and solutions after the Year
2000-related slowdown.

  General and Administrative Costs

    General and administrative costs were $1,297 million in 2000, an increase
of $26 million, or 2%, from 1999 and a decrease as a percentage of revenues
from 12% in 1999 to 11% in 2000. As signs of slowing demand became apparent in
the first half of 2000, we launched initiatives to better manage our

                                      31

<PAGE>

general and administrative costs, including controlling facilities, services,
and support costs. This reduction as a percentage of revenues was due in part
to the elimination of temporary duplicate costs incurred in 1999 associated
with the transition to us of internal support systems and other functions
previously shared with Andersen Worldwide.

Operating Income

    Operating income was $2,086 million in 2000, an increase of $54 million, or
3%, over 1999 and decreased as a percentage of revenues from 19% in 1999 to 18%
in 2000. Operating income remained constant as a percentage of revenues before
reimbursements at 21% in 1999 and 2000.

Gain on Investments

    Gain on investments totaled $573 million for 2000, compared to a gain of
$93 million in 1999. In 2000, $569 million of gain on investments was related
to the sale of a portion of our investment in a marketable security purchased
in 1995, compared to $93 million in 1999.

Interest Income

    Interest income was $67 million in 2000, an increase of $7 million, or 12%,
over 1999. The increase in interest income in 2000 resulted primarily from an
increase in our cash balance, which was generated by the sale of a portion of
our investment in a marketable security purchased in 1995.

Other Income (Expense)

    Other income was $51 million in 2000, an increase of $56 million over 1999.
This increase was primarily attributable to the recognition of income from
vesting of options for services by our representatives on boards of directors
of those companies in which we invest, coupled with income resulting from
foreign exchange translations.

Equity in Losses of Affiliates

    Equity in losses of affiliates was a loss of $46 million in 2000 compared
to a loss of $6 million in 1999.

Provision for Taxes

    Taxes were $243 million in 2000, an increase of $120 million over 1999.
This increase was due to increased taxable income in some of our entities that
were subject to entity-level tax.

                                      32

<PAGE>

Quarterly Results

    The following tables present unaudited quarterly financial information for
fiscal 2000 and 2001 on a historical basis. We believe the quarterly
information contains all adjustments, consisting only of normal recurring
adjustments, necessary to fairly present this information. As a professional
services organization, we anticipate and respond to demand from our clients.
Accordingly, we have limited control over the timing and circumstances under
which our services are provided. Typically, we show slight increases in our
first-quarter revenues as a result of billing rate increases and the addition
of new hires. We typically experience minor declines in revenues for the second
and fourth quarters because of an increase in vacation and holiday hours in
those quarters. For these and other reasons, we can experience variability in
our operating results from quarter to quarter. The operating results for any
quarter are not necessarily indicative of the results for any future period.

<TABLE>
<CAPTION>
                                                              Three months ended
                           ----------------------------------------------------------------------------------------
                           November 30, February 29, May 31, August 31, November 30, February 28, May 31, August 31,
                               1999         2000      2000      2000        2000         2001      2001      2001
                           ------------ ------------ ------- ---------- ------------ ------------ ------- ----------
                                                     (in millions, except per share data)
<S>                        <C>          <C>          <C>     <C>        <C>          <C>          <C>     <C>
Revenues:
 Revenues before
   reimbursements.........    $2,412       $2,272    $2,561    $2,507      $2,831       $2,882    $2,953    $2,778
 Reimbursements(1)........       314          374       433       458         378          409       458       373
                              ------       ------    ------    ------      ------       ------    ------    ------
   Revenues(1)............     2,726        2,646     2,994     2,965       3,209        3,291     3,411     3,151
Operating expenses*.......
 Cost of services:*
   Cost of services
    before reimbursable
    expenses*.............     1,356        1,304     1,340     1,487       1,384        1,560     1,566     1,690
   Reimbursable
    expenses(1)...........       314          374       433       458         378          409       458       373
                              ------       ------    ------    ------      ------       ------    ------    ------
   Cost of services*(1)...     1,670        1,678     1,773     1,945       1,762        1,969     2,024     2,063
 Sales and marketing*.....       199          222       230       232         202          251       318       446
 General and
   administrative costs*..       318          322       296       360         376          389       365       386
 Reorganization and
   rebranding costs*......        --           --        --        --          30          159       588        71
 Restricted share
   unit-based
   compensation...........        --           --        --        --          --           --        --       967
                              ------       ------    ------    ------      ------       ------    ------    ------
   Total operating
    expenses*(1)..........     2,187        2,222     2,299     2,537       2,370        2,768     3,295     3,933
                              ------       ------    ------    ------      ------       ------    ------    ------
Operating income (loss)*..       539          424       695       428         839          523       116      (782)
Gain (loss) on
 investments, net.........        68          200       266        39         219          (30)       (9)      (73)
Interest income...........        14           13        18        22          23           20        17        20
Interest expense..........        (7)          (5)       (6)       (6)         (5)          (6)      (16)      (17)
Other income (expense)....         6           14        12        19           7           17        (3)       (4)
Equity in gains (losses)
 of affiliates............        (4)          (3)       (2)      (37)        (20)         (21)      (11)       (9)
                              ------       ------    ------    ------      ------       ------    ------    ------
Income (loss) before
 taxes*...................       616          643       983       465       1,063          503        94      (865)
Provision for taxes.......        42           71        81        49          53           83       285        82
                              ------       ------    ------    ------      ------       ------    ------    ------
Income (loss) before
 minority interest and
 accounting change........       574          572       902       416       1,010          420      (191)     (947)
Minority interest.........        --           --        --        --          --           --        --       577
                              ------       ------    ------    ------      ------       ------    ------    ------
Income before accounting
 change*..................       574          572       902       416       1,010          420      (191)     (370)
Cumulative effect of
 accounting change........        --           --        --        --         188           --        --        --
                              ------       ------    ------    ------      ------       ------    ------    ------
Partnership income
 (loss) before partner
 distributions*...........    $  574       $  572    $  902    $  416      $1,198       $  420    $ (191)
                              ======       ======    ======    ======      ======       ======    ======
 Net income (loss)........                                                                                  $ (370)
                                                                                                            ======
 Earnings (loss) per
   share--basic and
   diluted................                                                                                  $(1.25)
                                                                                                            ======
</TABLE>
--------
*   Excludes payments for partner distributions.
(1) Reimbursements and Reimbursable expenses have been reduced for certain
    intercompany transactions that had not been eliminated in previously
    reported Reimbursements and Reimbursable expenses. Previously reported
    quarterly Reimbursements and Reimbursable expenses have been reduced by
    $50, $61, $69 and $29, respectively, in the first, second, third and fourth
    quarters of 2000. Previously reported quarterly Reimbursements and
    Reimbursable expenses have been reduced by $29, $93, $108 and $56,
    respectively, in the first, second, third and fourth quarters of 2001.

                                      33

<PAGE>

Liquidity and Capital Resources

    We have historically relied on cash flow from operations, partner capital
contributions and bank credit facilities to satisfy our liquidity and capital
requirements. However, each year a portion of the distributions we made to our
partners was made on a deferred basis, which significantly strengthened our
working capital and enabled us to limit our external borrowings. Since May
2001, our liquidity needs on a short-term and long-term basis have been
satisfied by cash flows from operations, debt capacity under existing and/or
new credit facilities and the net proceeds of the initial public offering. We
believe our short-term and long-term liquidity needs will be met through cash
flows from operations and debt capacity. In addition, we may need to raise
additional funds through public or private debt or equity financings in the
future in order to:

    . take advantage of opportunities, including more rapid expansion;

    . acquire complementary businesses or technologies;

    . develop new services and solutions; or

    . respond to competitive pressures.

    Our balance of cash and cash equivalents was $1,880 million at August 31,
2001. Our balance of cash and cash equivalents at August 31, 2001 increased
$609 million, or 48%, from $1,271 million at August 31, 2000. The increase is
largely attributable to proceeds from the issuance of common shares, earnings
and the sale of marketable securities, which were partially offset by
distributions to partners, return of capital to partners and purchases of
equity investments.

    Net cash provided by operating activities was $2,281 million for fiscal
2001, an increase of $150 million from fiscal 2000. Net cash used by investing
activities was $411 million for fiscal 2001, an increase of $518 million from
fiscal 2000, as proceeds from the sale of investments of $428 million were
offset by purchases of new investments and by capital expenditures. Net cash
used by financing activities was $1,167 million for fiscal 2001, a decrease of
$867 million from fiscal 2000. This included net proceeds of $1,791 million
from the initial public offering and sale of the Accenture Ltd Class A common
shares in the fourth quarter of fiscal 2001, offset by earnings distributions
to partners of $2,282 million, repayment of partners' capital totaling $524
million, and a payment of $314 million to Andersen Worldwide and Arthur
Andersen of amounts due related to the final resolution of the arbitration.

    Because we have historically deferred the distribution of a portion of our
partners' current year earnings into the subsequent fiscal year, these earnings
have been available for a period of time to meet liquidity and working capital
requirements. These distributable earnings, temporarily retained and
distributed in the subsequent fiscal year, totaled $1,130 million and $819
million at August 31, 2000 and 2001, respectively. At May 31, 2001, we
reclassified the final distributable earnings from the capital accounts to
current liabilities. Distribution to our partners of pre-incorporation earnings
during the three months ended November 30, 2001 was $489 million. The balance
was paid in the second quarter of fiscal 2002.

    We have two syndicated credit facilities providing $450 million and $420
million, respectively, of unsecured, revolving borrowing capacity for general
working capital purposes. Committed financing is provided at the prime rate or
at the London Interbank Offered Rate plus a spread, and bid option financing is
available. These facilities mature in August 2003 and June 2002, respectively.
We expect to be able to renew these facilities on comparable terms. The
facilities require us to (1) limit liens placed on our assets to (a) liens
incurred in the ordinary course of business (subject to certain limitations)
and (b) other liens securing aggregate amounts not in excess of 30% of our
total assets and (2) maintain a maximum debt to cash flow ratio of one to one.
We are in compliance with these terms. As of August 31, 2001, we had no
borrowings and $19 million in letters of credit outstanding under these
facilities.

                                      34

<PAGE>

    We also maintain four separate bilateral, uncommitted, unsecured
multicurrency revolving credit facilities. As of August 31, 2001, these
facilities provided for up to $369 million of local currency financing in
countries that cannot readily access our syndicated facilities. We also
maintain local guaranteed and non-guaranteed lines of credit. As of August 31,
2001, amounts available under these lines of credit facilities totaled $259
million. At August 31, 2001, we had $188 million outstanding under these
various facilities. Interest rate terms on the bilateral revolving facilities
and local lines of credit are at market rates prevailing in the relevant local
markets.

    We made $315 million and $378 million in capital expenditures for fiscal
2000 and 2001, respectively, primarily for technology assets, furniture and
equipment and leasehold improvements to support our operations. We expect that
our capital expenditures in the current fiscal year will be less than our
capital expenditures in each of the last two fiscal years. During November
1999, we formed Accenture Technology Ventures to select, structure and manage a
portfolio of equity investments. We made equity investments of $153 million and
$326 million during fiscal 2000 and 2001, respectively. See "--Overview--Gain
(Loss) on Investments" for a discussion of our plans with respect to our
investment portfolio.

    As of August 31, 2001, we had commitments for investments of $66 million.
We also received $111 million and $118 million in fiscal 2000 and 2001,
respectively, in equity from our clients as compensation for current and future
services. Amounts ultimately realized from these equity securities may be
higher or lower than amounts recorded on the measurement dates. At February 28,
2002, we had authorization to repurchase up to an additional $126 million of
Accenture Ltd's Class A common shares. In addition to our ongoing open-market
share repurchases, we expect to repurchase shares pursuant to our Share
Management Plan. See "Certain Relationships and Related Transactions--Share
Management Plan." In certain countries we must use treasury shares, rather than
newly issued shares, to satisfy our obligations upon the maturity of a
restricted share unit or the exercise of an option in order for the transaction
to receive the available tax deductability. We expect that we will use 6.4
million, 10.0 million and 7.5 million treasury shares for these purposes in
fiscal 2002, 2003 and 2004, respectively.

    In limited circumstances, we agree to extend financing to clients. The
terms vary by engagement, but generally we contractually link payment for
services to the achievement of specified performance milestones. We finance
these client obligations primarily with existing working capital and bank
financing in the country of origin. As of August 31, 2000, and August 31, 2001,
$223 million and $182 million were outstanding for 14 and 17 clients,
respectively. These outstanding amounts are included in unbilled services and
other non-current assets on our historical balance sheets.

ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Foreign Currency Risk

    We are exposed to foreign currency risk in the ordinary course of business.
We hedge cash flow exposures for our major countries using a combination of
forward and option contracts. We do not hold or issue derivative financial
instruments for trading purposes. These instruments are generally short-term in
nature, with typical maturities of less than one year. From time to time, we
enter into forward or option contracts of a long-term nature.

    For purposes of specific risk analysis, we use sensitivity analysis to
determine the effects that market risk exposures may have on the fair value of
our hedge portfolio. The foreign currency exchange risk is computed based on
the market value of future cash flows as affected by the changes in the rates
attributable to the market risk being measured. The sensitivity analysis
represents the hypothetical

                                      35

<PAGE>

changes in value of the hedge position and does not reflect the opposite gain
or loss on the underlying transaction. As of August 31, 2000, a 10% decrease in
the levels of foreign currency exchange rates against the U.S. dollar with all
other variables held constant would result in an increase in the fair value of
our financial instruments of $6 million, while a 10% increase in the levels of
foreign currency exchange rates against the U.S. dollar would have almost no
effect on the fair value of our financial instruments due to the fact that our
long and short forward positions almost completely offset each other. As of
August 31, 2001, a 10% decrease in the levels of foreign currency exchange
rates against the U.S. dollar with all other variables held constant would
result in a decrease in the fair value of our financial instruments of $4
million, while a 10% increase in the levels of foreign currency exchange rates
against the U.S. dollar would result in an increase in the fair value of our
financial instruments of $4 million.

    Twelve of the fifteen member countries of the European Union have
established fixed conversion rates between their existing currencies ("legacy
currencies") and one common currency, the Euro. Beginning in January 2002, the
new Euro-denominated currency was issued, and legacy currencies are being
withdrawn from circulation. We have addressed the systems and business issues
raised by the Euro currency conversion. These issues include, among others: (1)
the need to adapt computer and other business systems and equipment to
accommodate Euro-denominated transactions; and (2) the competitive impact of
cross-border price transparency. The Euro conversion has not had a material
adverse impact to our consolidated financial position, results of operations or
cash flows.

Interest Rate Risk

    During the last three years, the majority of our debt obligations have been
short-term in nature and the associated interest obligations have floated
relative to major interest rate benchmarks, such as the London Interbank
Offered Rate. While we have not entered into any derivative contracts to hedge
interest rate risks during this period, we may do so in the future.

    The interest rate risk associated with our borrowing and investing
activities at August 31, 2001 is not material in relation to our consolidated
financial position, results of operations or cash flows. We have not used
derivative financial instruments to alter the interest rate characteristics of
our investment holdings or debt instruments.

Equity Price Risk

    We have marketable equity securities that are subject to market price
volatility. Marketable equity securities include common stock, warrants and
options. Our investment portfolio includes warrants and options in both
publicly traded and privately held companies. Warrants in public companies and
those that can be net share settled in private companies are deemed derivative
financial instruments and are recorded on the Consolidated Balance Sheet at
fair value. The privately held investments are inherently risky because the
markets for the technologies or products developed by these companies are less
established than those of most publicly traded companies and we may be unable
to liquidate our investments if desired. Beginning September 1, 2000, warrants
are deemed derivative financial instruments by SFAS 133. As such, they are
recorded on the balance sheet at fair value with unrealized gains or losses
recorded on the income statement. As of August 31, 2001, we have not entered
into any derivative contracts to hedge the risks associated with the portfolio
of equity investments.

                                      36

<PAGE>

    The following analysis presents the hypothetical change in the fair value
of our marketable equity securities at August 31, 2000 and August 31, 2001,
assuming the same hypothetical price fluctuations of plus or minus 10%, 20% and
30%.

<TABLE>
<CAPTION>
                                           Valuation of investments                   Valuation of investments
                                          assuming indicated decrease   August 31,   assuming indicated increase
                                          ---------------------------      2000      --------------------------
                                            -30%     -20%      -10%     fair value     +10%      +20%     +30%
                                          -------- --------- -------- -------------- --------  -------- --------
                                                                     (in thousands)
<S>                                       <C>      <C>       <C>      <C>            <C>       <C>      <C>
Marketable Equity Securities............. $528,016  $603,446 $678,877    $754,308    $829,739  $905,170 $980,600

                                           Valuation of investments                   Valuation of investments
                                          assuming indicated decrease   August 31,   assuming indicated increase
                                          ---------------------------      2001      --------------------------
                                            -30%     -20%      -10%     fair value     +10%      +20%     +30%
                                          -------- --------- -------- -------------- --------  -------- --------
                                                                      (in thousands)
Marketable Equity Securities and Warrants
 Deemed Derivatives by SFAS 133.......... $ 60,618 $  69,278 $ 77,937    $ 86,597    $ 95,257  $103,916 $112,576
</TABLE>

    See "--Overview--Gain (Loss) on Investments" for a discussion of our plans
with respect to our investment portfolio.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

    See the index included on page F-1, Index to Combined and Consolidated
Financial Statements.

                                      37

<PAGE>

                                    PART IV

ITEM 15.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

    (a) List of documents filed as part of this report:

1.  Financial Statements as of August 31, 2000 and August 31, 2001 and for the
    three years ended August 31, 2001--Included in Part II of this Form 10-K:

        Combined and Consolidated Balance Sheets

        Combined Income Statements Before Partner Distributions and
        Consolidated Income Statement

        Combined Statements of Partners' Capital and Comprehensive Income and
        Consolidated Shareholders' Equity Statement

        Combined and Consolidated Cash Flows Statements

        Notes to Combined and Consolidated Financial Statements

2.  Financial Statement Schedules:

        None.

3.  Exhibit Index:

<TABLE>
<CAPTION>
Exhibit
Number                                   Exhibit
------                                   -------
<C>     <S>

 23.1   Consent of PricewaterhouseCoopers LLP (filed herewith).

 99.1   Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section
        1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
        (filed herewith).

 99.2   Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section
        1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
        (filed herewith).
</TABLE>

                                      38

<PAGE>

                        ACCENTURE LTD AND SUBSIDIARIES

            INDEX TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS

<TABLE>
<S>                                                                                         <C>
Report of Independent Accountants.......................................................... F-2

Combined and Consolidated Balance Sheets as of August 31, 2000 and 2001.................... F-3

Combined Income Statements Before Partner Distributions for the years ended August 31, 1999
  and 2000 and Consolidated Income Statement for the year ended August 31, 2001............ F-4

Combined Statements of Partners' Capital and Comprehensive Income for the years ended
  August 31, 1999 and 2000 and Consolidated Shareholders' Equity for the year ended
  August 31, 2001.......................................................................... F-5

Combined and Consolidated Cash Flows Statements for the years ended August 31, 1999,
  2000 and 2001............................................................................ F-6

Notes to Combined and Consolidated Financial Statements.................................... F-7
</TABLE>

                                      F-1

<PAGE>

                       REPORT OF INDEPENDENT ACCOUNTANTS

To the Board of Directors and Shareholders of Accenture Ltd:

    In our opinion, the accompanying combined and consolidated balance sheets
and the related combined income statements before partner
distributions/consolidated income statement, combined statements of partners'
capital and comprehensive income/consolidated shareholders' equity statement
and combined and consolidated cash flows statements present fairly, in all
material respects, the financial position of Accenture Ltd and its subsidiaries
at August 31, 2000 and 2001, and the results of their operations and their cash
flows for each of the three years in the period ended August 31, 2001 in
conformity with accounting principles generally accepted in the United States
of America. These financial statements are the responsibility of the Company's
management; our responsibility is to express an opinion on these financial
statements based on our audits. We conducted our audits of these statements in
accordance with auditing standards generally accepted in the United States of
America, which require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.

    As discussed in Note 2 to the consolidated financial statements, in 2001
the Company changed its method of accounting for derivative instruments and
hedging activities.

    As discussed in Note 1 to the consolidated financial statements, the
combined income statements before partner distributions/consolidated income
statement have been revised with respect to certain reimbursements and
reimbursable expenses.

/s/  PricewaterhouseCoopers LLP
October 11, 2001, except as to Note 1 as to reimbursements and reimbursable
expenses and Note 18 which are as of October 29, 2002
Chicago, Illinois

                                      F-2

<PAGE>

                                 ACCENTURE LTD

                   COMBINED AND CONSOLIDATED BALANCE SHEETS

                           August 31, 2000 and 2001

              (In thousands of U.S. dollars except share amounts)

<TABLE>
<CAPTION>
                                                                               Combined    Consolidated
                                                                             Balance Sheet Balance Sheet
                                                                                 2000          2001
                                                                             ------------- -------------
<S>                                                                          <C>           <C>
                                  ASSETS
CURRENT ASSETS:
   Cash and cash equivalents................................................  $1,270,516    $ 1,880,083
   Short-term investments...................................................     395,620             --
   Receivables from clients, net............................................   1,450,555      1,498,812
   Unbilled services........................................................     682,935        731,802
   Due from related parties.................................................      58,287         69,500
   Deferred income taxes, net...............................................          --        166,372
   Other current assets.....................................................     141,372        233,068
                                                                              ----------    -----------
     Total current assets...................................................   3,999,285      4,579,637
                                                                              ----------    -----------
NON-CURRENT ASSETS:
   Due from related parties.................................................      81,220         23,800
   Investments..............................................................     509,665        324,139
   Property and equipment, net..............................................     705,508        822,318
   Deferred income taxes, net...............................................          --        213,617
   Other non-current assets.................................................     155,619         97,845
                                                                              ----------    -----------
     Total non-current assets...............................................   1,452,012      1,481,719
                                                                              ----------    -----------
TOTAL ASSETS................................................................  $5,451,297    $ 6,061,356
                                                                              ==========    ===========
                   LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
   Short-term bank borrowings...............................................  $  164,765    $   189,872
   Current portion of long-term debt........................................      29,921            797
   Accounts payable.........................................................     233,737        371,794
   Due to related parties...................................................     339,877        818,888
   Deferred revenue.........................................................     948,390        810,043
   Accrued payroll and related benefits.....................................     700,843      1,050,385
   Taxes payable............................................................     283,731        515,304
   Deferred income taxes, net...............................................          --         29,373
   Other accrued liabilities................................................     282,715        392,364
                                                                              ----------    -----------
     Total current liabilities..............................................   2,983,979      4,178,820
                                                                              ----------    -----------
NON-CURRENT LIABILITIES:
   Long-term debt...........................................................      98,865          1,090
   Retirement obligation....................................................          --        343,249
   Deferred income taxes, net...............................................          --         50,969
   Other non-current liabilities............................................          --        797,114
                                                                              ----------    -----------
     Total non-current liabilities..........................................      98,865      1,192,422
                                                                              ----------    -----------
MINORITY INTEREST...........................................................          --        407,926
                                                                              ----------    -----------
COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:
   Preferred shares, 2,000,000,000 shares authorized, 0 shares issued and
    outstanding.............................................................          --             --
   Class A common shares, par value $0.0000225 per share, 20,000,000,000
    shares authorized, 343,307,238 shares issued and outstanding............          --              8
   Class X common shares, par value $0.0000225 per share, 1,000,000,000
    shares authorized, 591,161,472 shares issued and outstanding............          --             13
   Restricted share units (related to Class A common shares), 68,481,815
    units issued and outstanding............................................          --        993,380
   Additional paid-in capital...............................................          --        832,731
   Retained earnings (deficit)..............................................          --     (1,435,310)
   Partners' paid-in capital................................................     403,483             --
   Partners' undistributed earnings.........................................   1,347,905             --
   Accumulated other comprehensive income (loss)............................     617,065       (108,634)
                                                                              ----------    -----------
     Total shareholders' equity.............................................   2,368,453        282,188
                                                                              ----------    -----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY..................................  $5,451,297    $ 6,061,356
                                                                              ==========    ===========
</TABLE>

  The accompanying notes are an integral part of these financial statements.

                                      F-3

<PAGE>

                                 ACCENTURE LTD

            COMBINED INCOME STATEMENTS BEFORE PARTNER DISTRIBUTIONS

                         CONSOLIDATED INCOME STATEMENT

              For the Years Ended August 31, 1999, 2000 and 2001
                        (In thousands of U.S. dollars)

<TABLE>
<CAPTION>
                                                               Revised      Revised      Revised
                                                              Combined     Combined    Consolidated
                                                               Income       Income        Income
                                                              Statement    Statement    Statement
                                                                1999         2000          2001
                                                             -----------  -----------  ------------
<S>                                                          <C>          <C>          <C>
REVENUES:
    Revenues before reimbursements.......................... $ 9,549,856  $ 9,752,085  $11,443,720
    Reimbursements..........................................   1,326,116    1,578,599    1,618,152
                                                             -----------  -----------  -----------
        Revenues............................................  10,875,972   11,330,684   13,061,872

OPERATING EXPENSES:
    Cost of services*:
        Cost of services before reimbursable expenses*......   5,456,559    5,486,292    6,199,213
        Reimbursable expenses...............................   1,326,116    1,578,599    1,618,152
                                                             -----------  -----------  -----------
        Cost of services*...................................   6,782,675    7,064,891    7,817,365
    Sales and marketing*....................................     790,246      883,276    1,217,343
    General and administrative costs*.......................   1,271,357    1,296,398    1,515,683
    Reorganization and rebranding costs*....................          --           --      848,615
    Restricted share unit-based compensation................          --           --      967,110
                                                             -----------  -----------  -----------
           Total operating expenses*........................   8,844,278    9,244,565   12,366,116
                                                             -----------  -----------  -----------
OPERATING INCOME*...........................................   2,031,694    2,086,119      695,756
Gain on investments, net....................................      92,542      573,220      107,016
Interest income.............................................      60,039       67,244       79,778
Interest expense............................................     (27,200)     (24,071)     (43,278)
Other income (expense)......................................      (5,309)      51,042       16,973
Equity in losses of affiliates..............................      (6,472)     (46,853)     (61,388)
                                                             -----------  -----------  -----------
INCOME BEFORE TAXES*........................................   2,145,294    2,706,701      794,857
Provision for taxes.........................................     122,640      242,807      502,616
                                                             -----------  -----------  -----------
INCOME BEFORE MINORITY INTEREST AND
  ACCOUNTING CHANGE*........................................   2,022,654    2,463,894      292,241
Minority interest...........................................          --           --      577,188
                                                             -----------  -----------  -----------
INCOME BEFORE ACCOUNTING CHANGE*............................   2,022,654    2,463,894      869,429
Cumulative effect of accounting change......................          --           --      187,974
                                                             -----------  -----------  -----------
PARTNERSHIP INCOME BEFORE PARTNER
  DISTRIBUTIONS*............................................ $ 2,022,654  $ 2,463,894
                                                             ===========  ===========
NET INCOME*.................................................                           $ 1,057,403
                                                                                       ===========
</TABLE>
--------
* Excludes payments for partner distributions in respect of periods ended on or
  prior to May 31, 2001.

  The accompanying notes are an integral part of these financial statements.

                                      F-4

<PAGE>

                                 ACCENTURE LTD

       COMBINED STATEMENTS OF PARTNERS' CAPITAL AND COMPREHENSIVE INCOME

                  CONSOLIDATED SHAREHOLDERS' EQUITY STATEMENT

              For the Years Ended August 31, 1999, 2000 and 2001
       (In thousands of U.S. dollars and in thousands of share amounts)

<TABLE>
<CAPTION>

                                                                           Class A        Class X             RSU

                                                              Preferred Common Shares  Common Shares     Common Shares
                                                               Shares    $  No. Shares  $  No. Shares    $     No. Shares
                                                              --------- --- ---------- --- ---------- -------- ----------
<S>                                                           <C>       <C> <C>        <C> <C>        <C>      <C>
Balance, at August 31, 1998..................................    $--    $--       --   $--       --   $     --       --
Comprehensive income.........................................
 Partnership income before partner distributions.............
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................
   Foreign currency translation..............................

 Other comprehensive income..................................

Comprehensive income.........................................
Capital paid in by partners..................................
Repayment of paid-in capital to partners.....................
Distribution of partners' income.............................
                                                                 ---    ---  -------   ---  -------   --------   ------
Balance at August 31, 1999...................................     --     --       --    --       --         --       --
Comprehensive income.........................................
 Partnership income before partner distributions.............
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................
   Foreign currency translation..............................

 Other comprehensive income..................................

Comprehensive income.........................................
Capital paid in by partners..................................
Repayment of paid-in capital to partners.....................
Distribution to AW-SC........................................
Distribution of partners' income.............................
                                                                 ---    ---  -------   ---  -------   --------   ------
Balance at August 31, 2000...................................     --     --       --    --       --         --       --
Comprehensive income.........................................
 Partnership income before partner distributions for the nine
  months ended May 31, 2001..................................
 Net loss for the three months ended August 31, 2001.........
 Other comprehensive income (loss)...........................
   Unrealized losses on marketable securities, net of
    reclassification adjustment..............................
   Foreign currency translation..............................

 Other comprehensive income (loss)...........................

Comprehensive income.........................................
Capital paid in by partners..................................
Repayment of paid-in capital to partners.....................
Distribution to AW-SC........................................
Distribution of partners' income.............................
Partner retirement and vacation benefits.....................
Transfer to retained earnings (deficit)......................
Issuance of shares:
 Shares issued upon reorganization to corporate structure....             5  212,257    13  591,161
 Initial public offering, net................................             3  131,050
 Restricted share units......................................                                          993,380   68,482
Minority interest............................................
                                                                 ---    ---  -------   ---  -------   --------   ------
Balance at August 31, 2001...................................    $--    $ 8  343,307   $13  591,161   $993,380   68,482
                                                                 ===    ===  =======   ===  =======   ========   ======
</TABLE>
<TABLE>
<CAPTION>

                                                                                                                 Accumulated
                                                              Additional   Retained                                 Other
                                                               Paid-in     Earnings     Paid-in   Undistributed Comprehensive
                                                               Capital     (Deficit)    Capital     Earnings    Income (Loss)
                                                              ----------  -----------  ---------  ------------- -------------
<S>                                                           <C>         <C>          <C>        <C>           <C>
Balance, at August 31, 1998.................................. $       --  $        --  $ 276,025   $ 1,143,377    $  87,209
Comprehensive income.........................................
 Partnership income before partner distributions.............                                        2,022,654
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................                                                       185,881
   Foreign currency translation..............................                                                       (19,948)
                                                                                                                  ---------
 Other comprehensive income..................................                                                       165,933

Comprehensive income.........................................
Capital paid in by partners..................................                             93,211
Repayment of paid-in capital to partners.....................                            (17,731)
Distribution of partners' income.............................                                       (1,562,545)
                                                              ----------  -----------  ---------   -----------    ---------
Balance at August 31, 1999...................................         --           --    351,505     1,603,486      253,142
Comprehensive income.........................................
 Partnership income before partner distributions.............                                        2,463,894
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................                                                       408,998
   Foreign currency translation..............................                                                       (45,075)
                                                                                                                  ---------
 Other comprehensive income..................................                                                       363,923

Comprehensive income.........................................
Capital paid in by partners..................................                             99,895
Repayment of paid-in capital to partners.....................                            (47,917)
Distribution to AW-SC........................................                                         (826,156)
Distribution of partners' income.............................                                       (1,893,319)
                                                              ----------  -----------  ---------   -----------    ---------
Balance at August 31, 2000...................................         --           --    403,483     1,347,905      617,065
Comprehensive income.........................................
 Partnership income before partner distributions for the nine
  months ended May 31, 2001..................................                                        1,427,185
 Net loss for the three months ended August 31, 2001.........                (369,782)
 Other comprehensive income (loss)...........................
   Unrealized losses on marketable securities, net of
    reclassification adjustment..............................                                                      (700,857)
   Foreign currency translation..............................                                                       (24,842)
                                                                                                                  ---------
 Other comprehensive income (loss)...........................                                                      (725,699)

Comprehensive income.........................................
Capital paid in by partners..................................                            146,328
Repayment of paid-in capital to partners.....................                           (549,811)
Distribution to AW-SC........................................                                         (268,781)
Distribution of partners' income.............................                                       (3,106,350)
Partner retirement and vacation benefits.....................                                         (465,487)
Transfer to retained earnings (deficit)......................              (1,065,528)               1,065,528
Issuance of shares:
 Shares issued upon reorganization to corporate structure....
 Initial public offering, net................................  1,791,441
 Restricted share units......................................
Minority interest............................................   (958,710)
                                                              ----------  -----------  ---------   -----------    ---------
Balance at August 31, 2001................................... $  832,731  $(1,435,310) $      --   $        --    $(108,634)
                                                              ==========  ===========  =========   ===========    =========
</TABLE>
<TABLE>
<CAPTION>




                                                                 Total
                                                              -----------
<S>                                                           <C>
Balance, at August 31, 1998.................................. $ 1,506,611
Comprehensive income.........................................
 Partnership income before partner distributions.............   2,022,654
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................     185,881
   Foreign currency translation..............................     (19,948)

 Other comprehensive income..................................
                                                              -----------
Comprehensive income.........................................   2,188,587
Capital paid in by partners..................................      93,211
Repayment of paid-in capital to partners.....................     (17,731)
Distribution of partners' income.............................  (1,562,545)
                                                              -----------
Balance at August 31, 1999...................................   2,208,133
Comprehensive income.........................................
 Partnership income before partner distributions.............   2,463,894
 Other comprehensive income..................................
   Unrealized gains on marketable securities, net of
    reclassification adjustment..............................     408,998
   Foreign currency translation..............................     (45,075)

 Other comprehensive income..................................
                                                              -----------
Comprehensive income.........................................   2,827,817
Capital paid in by partners..................................      99,895
Repayment of paid-in capital to partners.....................     (47,917)
Distribution to AW-SC........................................    (826,156)
Distribution of partners' income.............................  (1,893,319)
                                                              -----------
Balance at August 31, 2000...................................   2,368,453
Comprehensive income.........................................
 Partnership income before partner distributions for the nine
  months ended May 31, 2001..................................   1,427,185
 Net loss for the three months ended August 31, 2001.........    (369,782)
 Other comprehensive income (loss)...........................
   Unrealized losses on marketable securities, net of
    reclassification adjustment..............................    (700,857)
   Foreign currency translation..............................     (24,842)

 Other comprehensive income (loss)...........................
                                                              -----------
Comprehensive income.........................................     331,704
Capital paid in by partners..................................     146,328
Repayment of paid-in capital to partners.....................    (549,811)
Distribution to AW-SC........................................    (268,781)
Distribution of partners' income.............................  (3,106,350)
Partner retirement and vacation benefits.....................    (465,487)
Transfer to retained earnings (deficit)......................          --
Issuance of shares:
 Shares issued upon reorganization to corporate structure....          18
 Initial public offering, net................................   1,791,444
 Restricted share units......................................     993,380
Minority interest............................................    (958,710)
                                                              -----------
Balance at August 31, 2001................................... $   282,188
                                                              ===========
</TABLE>

  The accompanying notes are an integral part of these financial statements.

                                      F-5

<PAGE>

                                 ACCENTURE LTD

                COMBINED AND CONSOLIDATED CASH FLOWS STATEMENTS

              For the Years Ended August 31, 1999, 2000 and 2001
                        (In thousands of U.S. dollars)

<TABLE>
<CAPTION>
                                                                                            Combined     Combined    Consolidated
                                                                                            Cash Flow    Cash Flow    Cash Flow
                                                                                              1999         2000          2001
                                                                                           -----------  -----------  ------------
<S>                                                                                        <C>          <C>          <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Partnership income before partnership distributions..................................... $ 2,022,654  $ 2,463,894
                                                                                           -----------  -----------
  Net income..............................................................................                           $ 1,057,403
                                                                                                                     -----------
  Adjustments to reconcile partnership income and net income for the year to the net cash
   provided by operating activities--
   Depreciation...........................................................................     217,032      237,078      257,072
   Amortization...........................................................................          --           --      157,000
   Gain on investments, net...............................................................     (92,542)    (573,220)    (107,016)
   Equity in losses of affiliates.........................................................       6,472       46,853       61,388
   Losses on disposal of property and equipment...........................................          --       31,557       24,725
   Restricted share unit-based compensation...............................................          --           --      967,110
   Deferred income taxes..................................................................          --           --     (299,647)
   Minority interest......................................................................          --           --     (577,188)
   Other items, net.......................................................................      (4,473)     (30,749)     (25,646)
   Cumulative effect of accounting change.................................................          --           --     (187,974)
   Change in assets and liabilities--
    (Increase) in receivables from clients................................................     (60,913)    (211,867)     (48,257)
    (Increase) in unbilled services.......................................................    (108,898)    (184,957)     (48,867)
    (Increase) in due from / (decrease) in due to related parties.........................     (38,718)      17,294      (89,180)
    (Increase) decrease in other current assets...........................................      32,744       28,343      (91,696)
    (Increase) decrease in other non-current assets.......................................     (23,736)      28,468       44,814
    Increase in accounts payable..........................................................      23,412       14,183      138,057
    Increase (decrease) in deferred revenue...............................................      19,997       67,415     (114,942)
    Increase in accrued payroll and employee benefits.....................................     124,783          339      250,968
    Increase in taxes payable.............................................................      21,019       46,817      231,573
    Increase in other accrued liabilities.................................................      55,514      149,816       11,418
    Increase in other non-current liabilities.............................................          --           --      669,499
                                                                                           -----------  -----------  -----------
      Total adjustments...................................................................     171,693     (332,630)   1,223,211
                                                                                           -----------  -----------  -----------
      Net cash provided by operating activities...........................................   2,194,347    2,131,264    2,280,614
                                                                                           -----------  -----------  -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from sales of investments......................................................      93,496      575,806      427,561
  Proceeds from sales of property and equipment...........................................          --           --       22,778
  Purchases of investments................................................................     (18,446)    (153,050)    (326,086)
  Purchase of intangible assets...........................................................          --           --     (157,000)
  Property and equipment additions........................................................    (305,156)    (315,426)    (377,930)
                                                                                           -----------  -----------  -----------
      Net cash provided by (used in) investing activities.................................    (230,106)     107,330     (410,677)
                                                                                           -----------  -----------  -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Capital paid in by partners.............................................................      93,211       99,895      146,328
  Repayment of paid-in capital to partners................................................     (17,731)     (47,917)    (524,130)
  Issuance of common stock................................................................          --           --    1,791,444
  Distribution of partners' income........................................................  (1,562,545)  (1,893,319)  (2,282,141)
  Payment to AW-SC........................................................................     (87,548)    (229,776)    (313,832)
  Proceeds from issuance of long-term debt................................................          --        1,384        1,787
  Repayment of long-term debt.............................................................      (1,427)      (1,605)     (19,653)
  Proceeds from issuance of short-term bank borrowings....................................      93,872      283,747      876,495
  Repayments of short-term bank borrowings................................................     (87,907)    (246,004)    (843,264)
                                                                                           -----------  -----------  -----------
      Net cash used in financing activities...............................................  (1,570,075)  (2,033,595)  (1,166,966)
  Effect of exchange rate changes on cash and cash equivalents............................     (19,948)     (45,075)     (93,404)
                                                                                           -----------  -----------  -----------
NET INCREASE IN CASH AND CASH EQUIVALENTS.................................................     374,218      159,924      609,567
CASH AND CASH EQUIVALENTS, beginning of period............................................     736,374    1,110,592    1,270,516
                                                                                           -----------  -----------  -----------
CASH AND CASH EQUIVALENTS, end of period.................................................. $ 1,110,592  $ 1,270,516  $ 1,880,083
                                                                                           ===========  ===========  ===========
Supplemental cash flow information
  Interest paid........................................................................... $    26,757  $    23,727  $    37,091
  Income taxes paid....................................................................... $    88,426  $   144,410  $   187,640
</TABLE>

  The accompanying notes are an integral part of these financial statements.

                                      F-6

<PAGE>

                                 ACCENTURE LTD

            NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS
               (In thousands of U.S. dollars except share data)


1.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

    Accenture is the world's leading provider of management and technology
consulting services and solutions, with more than 75,000 employees in 47
countries delivering a wide range of specialized capabilities and solutions to
clients across all industries. Accenture operates globally with one common
brand and business model designed to enable the company to serve clients on a
consistent basis around the world. Under its strategy, Accenture is building a
network of businesses to meet the full range of any organization's
needs--consulting, technology, outsourcing, alliances and venture capital. The
principal markets for Accenture are North America, Western Europe, Japan and
Australia.

Principles of Consolidation and Combination

    The consolidated financial statements include the accounts of Accenture
Ltd, a Bermuda company, and its controlled subsidiary companies (together
"Accenture"). In May 2001, the Accenture Worldwide Organization completed a
transition to a corporate structure with Accenture Ltd becoming the holding
company.

    Accenture Ltd's only business is to hold shares and to act as the sole
general partner of its subsidiary, Accenture SCA, a Luxembourg partnership
limited by shares. Accenture operates its business through Accenture SCA and
subsidiaries of Accenture SCA. Accenture Ltd controls Accenture SCA's
management and operations and consolidates Accenture SCA's results in its
financial statements. Accenture Ltd has a 58% voting interest in Accenture SCA
assuming the issuance of 68,481,815 Accenture SCA Class I common shares. These
shares will be issued in connection with the delivery of the 68,481,815
Accenture Ltd Class A common shares underlying 68,481,815 restricted share
units which generally are considered fully vested and will be issued for no
consideration solely upon the passage of time.

    Prior to the transition to a corporate structure, the Accenture Worldwide
Organization operated as a series of related partnerships and corporations
under the control of the partners and shareholders of these entities. These
individuals became executive employees of Accenture following its transition,
but retain the "partner" title. In connection with the transition to a
corporate structure, the partners received Accenture Ltd Class A common shares
or, in the case of partners resident in specified countries, Class I common
shares issued by Accenture SCA or exchangeable shares issued by Accenture
Canada Holdings Inc., an indirect subsidiary of Accenture SCA, in lieu of their
interests in these partnerships and corporations. The transition to a corporate
structure was accounted for as a reorganization at carryover basis as there
were no changes in the rights, obligations or economic interests of Accenture's
partners upon the exchange of their interests for shares in Accenture Ltd,
Accenture SCA or Accenture Canada Holdings Inc., except for those applied
consistently among the partners or those resulting from Accenture's transition
from a series of related partnerships and corporations to a corporate structure.

    The shares of Accenture SCA and Accenture Canada Holdings Inc. held by the
partners are treated as a minority interest in the consolidated financial
statements of Accenture Ltd. However, the future exchange and/or redemption of
Accenture SCA shares or Accenture Canada Holdings Inc. exchangeable shares will
be accounted for at carryover basis.

                                      F-7

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


    The accompanying financial statements, in respect of periods ended on or
prior to May 31, 2001, have been prepared on a combined basis and reflect the
accounts of the Accenture Worldwide Organization which prior to May 31, 2001,
included Accenture Partners Societe Cooperative (Geneva, Switzerland--the
administrative coordinating entity, "APSC") and a number of entities, many of
which operated as partnerships, that had entered into Member Firm Interfirm
Agreements ("MFIAs") with APSC ("Member Firms"), together with all entities
controlled by them. Prior to January 1, 2001, Accenture was known as Andersen
Consulting. Prior to August 7, 2000, the Accenture Member Firms and the
entities controlled by them were parties to MFIAs with Andersen Worldwide
Societe Cooperative ("AW-SC"). AW-SC also contracted with the Member Firms of
Arthur Andersen (hereinafter, "AA" and "AA Member Firms") and other entities
controlled by them. APSC was incorporated to implement the agreement of the
Accenture Member Firms and the partners of Accenture to remain together, on
substantially the same terms as with AW-SC, as a result of the successful
outcome of the arbitration described in Note 16. Each Accenture Member Firm
entered into an MFIA with APSC, effective as of August 7, 2000, that was
identical in all substantial terms with the prior agreement such Member Firm
had with AW-SC.

    The equity method of accounting is used for unconsolidated investments in
which Accenture exercises significant influence. All other investments are
accounted for under the cost method. All significant intercompany/interfirm
transactions and profits have been eliminated.

    The Combined financial statements in respect of periods ended on or prior
to May 31, 2001 and the Consolidated financial statements from May 31, 2001
onward are collectively referred to as the Consolidated financial statements in
these footnotes.

Revenue Recognition

    Revenues include all amounts that are billable to clients. Revenues are
recognized on a time and materials basis, or on a percentage of completion
basis, depending on the contract, as services are provided by employees and
subcontractors. Revenue from time and material service contracts is recognized
as the services are provided. Revenue from fixed price long-term contracts is
recognized over the contract term based on the percentage of services provided
during the period compared to the total estimated services to be provided over
the entire contract. Losses on contracts are recognized during the period in
which the loss first becomes probable and reasonably estimable. Contract losses
are determined to be the amount by which the estimated direct and indirect
costs of the contract exceed the estimated total revenues that will be
generated by the contract. Losses recognized during each of the three years
ended August 31, 2001 were insignificant. Revenue recognized in excess of
billings is recorded as Unbilled services. Billings in excess of revenue
recognized are recorded as Deferred revenue until the above revenue recognition
criteria are met. Reimbursements, including those relating to travel and other
out-of-pocket expenses, and other similar third-party costs, such as the cost
of hardware and software resales, are included in Revenues, and an equivalent
amount of reimbursable expenses are included in Cost of services.

    Reimbursements and Reimbursable expenses reported in previous years have
been reduced by corresponding amounts for certain intercompany transactions
that had not been eliminated. These adjustments reduced previously reported
Reimbursements, Reimbursable expenses, Revenues, Cost of services and Total
operating expenses by $203,427 in 1999, $209,266 in 2000 and $286,000 in 2001.
These adjustments had no effect on Revenues before reimbursements, Operating
income, Net income or Earnings per share.

                                      F-8

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Operating Expenses

    Subcontractor costs are included in Cost of services when they are
incurred. Training costs were $644,760, $553,698 and $691,513 in 1999, 2000 and
2001, respectively. Research and development and advertising costs are expensed
as incurred. Research and development costs were $255,905 in 1999, $251,764 in
2000 and $271,336 in 2001. Advertising costs were $46,500 in 1999, $69,000 in
2000 and $149,900 in 2001.

Translation of Non-U.S. Currency Amounts

    The net assets and operations of entities outside of the United States are
translated into U.S. dollars using appropriate exchange rates. Assets and
liabilities are translated at year-end exchange rates and income and expense
items are translated at average exchange rates prevailing during the year.

    Foreign currency translations on assets and liabilities denominated in
currencies other than their functional currency resulted in gains/(losses) of
($9,642) in 1999, $27,567 in 2000 and ($1,279) in 2001, which are included in
Other income (expense).

Provision for Taxes

    Income taxes are accounted for in accordance with Statement of Financial
Accounting Standards ("SFAS") 109, "Accounting for Income Taxes." Tax
provisions are recorded at statutory rates for taxable items included in the
Consolidated Income Statements regardless of the period for which such items
are reported for tax purposes. Deferred income taxes are recognized for
temporary differences between the financial reporting and income tax bases of
assets and liabilities.

Partnership Income Before Partner Distributions

    Partnership Income Before Partner Distributions is not comparable to net
income of a corporation similarly determined. Also, partnership income is not
executive compensation in the customary sense of that term because partnership
income is comprised of distributions of current earnings. Accordingly,
compensation and benefits for services rendered by partners have not been
reflected as an expense in the combined financial statements in respect of
periods ended on or prior to May 31, 2001.

Cash and Cash Equivalents

    Cash and cash equivalents consist of all cash balances and highly liquid
investments with original maturities of three months or less, including time
deposits and certificates of deposit of $486,661 and $224,278 at August 31,
2000 and 2001, respectively. As a result of certain subsidiaries' cash
management systems, checks issued but not presented to the banks for payments
may create negative book cash payables. Such negative balances are classified
as Short-term bank borrowings.

Concentrations of Credit Risk

    Accenture's financial instruments that are exposed to concentrations of
credit risk consist primarily of Cash and cash equivalents and Receivables from
clients. Accenture places its Cash and cash

                                      F-9

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

equivalents with financial institutions and limits the amount of credit
exposure with any one financial institution. Accenture actively evaluates the
creditworthiness of the financial institutions with which it invests. The
Receivables from clients are dispersed across many different industries and
geographies; therefore, concentrations of credit risk are limited. As of and
for the years ended August 31, 1999, 2000 and 2001, the allowance for
uncollectible accounts and bad debt expense are immaterial.

Investments

    Investments in marketable equity securities are recorded at fair value. All
investments recorded at fair value have been classified as available-for-sale,
and accordingly, the difference between cost and fair value is recorded in
Accumulated other comprehensive income (loss). The cost of securities sold is
determined on an average cost basis.

    Accenture receives warrants issued by other companies primarily in exchange
for services, alliances and directorships. At the measurement date, these
warrants are recorded at fair value. Warrants received in connection with
services and alliances are recorded as Revenues. Warrants received in
connection with directorships are recorded as Other income (expense). Warrants
in public companies and those that can be net share settled in private
companies are deemed derivative financial instruments and are recorded on the
Consolidated Balance Sheet at fair value. Changes in fair value of these
warrants are recognized in the Consolidated Income Statement and included in
Gain on investments, net.

    Management conducts a quarterly impairment review of each investment in the
portfolio, including historical and projected financial performance, expected
cash needs and recent funding events. Other-than-temporary impairments for
investments are recognized if the market value of the investment is below its
cost basis for an extended period or the issuer has experienced significant
financial declines or difficulties in raising capital to continue operations.

Foreign Exchange Instruments

    In the normal course of business, Accenture uses derivative financial
instruments to manage foreign currency exchange rate risk. These instruments
are subject to fluctuations in foreign exchange rates and credit risk. The
instruments are used to hedge underlying business exposures such that the
impact of foreign exchange rate fluctuations is offset by opposite movements in
the underlying exposure. Credit risk is managed through careful selection of
sound financial institutions as counterparties.

    In its hedging programs, Accenture uses a combination of forward and option
contracts to hedge its major foreign currency exchange rate exposures. These
instruments are generally short term in nature, with maturities of less than
one year.

    In accordance with SFAS 133, "Accounting for Derivative Instruments and
Hedging Activities", all derivatives are recognized as either assets or
liabilities at fair value. Hedges of committed exposure are marked-to-market
each period with the changes in value included in Net Income. Hedges of
anticipated exposures are marked-to-market each period. The changes in value
are included in other comprehensive income for those hedges that are considered
effective according to SFAS 133; otherwise, the changes in value are included
in Net Income.

                                     F-10

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Property and Equipment

    Property and equipment is stated at cost, less accumulated depreciation.
Depreciation of property and equipment is computed on a straight-line basis
over the following useful lives:


<TABLE>
           <S>                                       <C>
           Buildings................................   20 to 25 years
                                                       Term of lease,
           Leasehold improvements................... 15 years maximum
           Computers, related equipment and software     3 to 5 years
           Furniture and fixtures...................    7 to 10 years
</TABLE>

Long-Lived Assets

    Long-lived assets are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount of an asset may not be
recoverable. Recoverability of long-lived assets is assessed by a comparison of
the carrying amount of the asset to the estimated future net cash flows
expected to be generated by the asset. If estimated future undiscounted net
cash flows are less than the carrying amount of the asset, the asset is
considered impaired and expense is recorded in an amount required to reduce the
carrying amount of the asset to its then fair value.

Earnings Per Share

    In respect of periods ended on or prior to May 31, 2001, Accenture operated
as a series of related partnerships and corporations under the control of the
partners. There is no single capital structure upon which to calculate
historical earnings per share information. Accordingly, historical earnings per
share information has only been presented in Note 20, "Quarterly Data" for
periods following Accenture's transition to a corporate structure, and has not
been presented in the Consolidated financial statements.

Use of Estimates

    The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the amounts that are reported in the Consolidated
financial statements and accompanying disclosures. Although these estimates are
based on management's best knowledge of current events and actions that
Accenture may undertake in the future, actual results may be different from the
estimates.

Reclassifications

    Certain amounts reported in previous years have been reclassified to
conform to the 2001 presentation.

2.  ACCOUNTING CHANGE

    Effective September 1, 2000, Accenture adopted SFAS 133, which establishes
accounting and reporting standards for derivative instruments, including
certain derivative instruments embedded in other contracts and for hedging
activities. All derivatives, whether designated in hedging relationships or

                                     F-11

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

not, are required to be recorded on the Consolidated Balance Sheet at fair
value. If the derivative is designated as a fair value hedge, the changes in
the fair value of the derivative and of the hedged item attributable to the
hedged risk are recognized in Net Income. If the derivative is designated as a
cash flow hedge, the effective portions of changes in the fair value of the
derivative are recorded in Accumulated other comprehensive income (loss) and
are recognized in the Consolidated Income Statement when the hedged item
affects earnings. Ineffective portions of changes in the fair value of cash
flow hedges are recognized in the Consolidated Income Statement. The adoption
of SFAS 133 resulted in an increase to Net Income of $187,974 based upon the
recognition of the fair value at September 1, 2000, of Accenture's warrants and
options in public companies and those that can be net share settled in private
companies. For the year ended August 31, 2001, Gain on investments, net
includes $191,892 of unrealized investment losses recognized in accordance with
SFAS 133.

3.  ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

    The components of Accumulated other comprehensive income (loss) at August
31, are:

<TABLE>
<CAPTION>
                                                         2000        2001
                                                      ----------  ---------
    <S>                                               <C>         <C>
    Foreign currency translation adjustments......... $  (75,101) $ (99,943)
                                                      ----------  ---------
    Unrealized gains (losses) on securities:
       Unrealized holding gains (losses).............  1,004,176   (159,394)
       Less: reclassification adjustments............   (595,178)  (541,463)
                                                      ----------  ---------
       Net unrealized gains (losses).................    408,998   (700,857)
    Unrealized gains on securities, beginning of year    283,168    692,166
                                                      ----------  ---------
    Net unrealized gains (losses)....................    692,166     (8,691)
                                                      ----------  ---------
    Accumulated other comprehensive income (loss).... $  617,065  $(108,634)
                                                      ==========  =========
</TABLE>

    Investments were held in the U.S. or special purpose entities during 2000
and 2001. In respect of periods ended on or prior to May 31, 2001, the
investments were primarily held by partnerships or other non-tax paying
entities; therefore, no income taxes would apply to those gains. Subsequent to
May 31, 2001, the investments were held by special purpose entities which were
not subject to income tax on investment gains and, similarly, losses generated
in these entities are not deductible.

4.  PROPERTY AND EQUIPMENT

    Property and equipment, net at August 31, is composed of the following:

<TABLE>
<CAPTION>
                                                     2000       2001
                                                  ---------  ---------
        <S>                                       <C>        <C>
        Buildings and land....................... $  72,953  $  75,371
        Leashold improvements....................   286,177    332,126
        Computers, related equipment and software   782,107    837,878
        Furniture and fixtures...................   252,905    272,512
        Total accumulated depreciation...........  (688,634)  (695,569)
                                                  ---------  ---------
                                                  $ 705,508  $ 822,318
                                                  =========  =========
</TABLE>

                                     F-12

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


5.  INVESTMENTS

    Investments which are intended to be sold in the following twelve months
are classified in current assets as Short-term investments. All other
investments are classified as long-term investments. Investments held at August
31, are as follows:

<TABLE>
<CAPTION>
                                                      2000     2001
                                                    -------- --------
           <S>                                      <C>      <C>
           Marketable equity securities: short-term $395,620 $     --
           Marketable equity securities: long-term.  358,688   85,516
           Non-marketable and other................  150,977  238,623
                                                    -------- --------
              Total................................ $905,285 $324,139
                                                    ======== ========
</TABLE>

Marketable Equity Securities

    Marketable equity securities include common stock, warrants and options,
all of which are classified as available-for-sale. The unrealized gains and
losses on these investments included in Accumulated other comprehensive income
(loss) at August 31, is as follows:

<TABLE>
<CAPTION>
                                             2000      2001
                                           --------  -------
                   <S>                     <C>       <C>
                   Fair value............. $754,308  $85,516
                   Cost...................   62,142   94,207
                   Gross unrealized gains.  697,228      633
                   Gross unrealized losses   (5,062)  (9,324)
</TABLE>

Equity Method Investments

    Accenture has investments in various entities that are accounted for under
the equity method. Under the equity method, investments are stated at initial
cost and are adjusted for subsequent contributions and Accenture's share of
earnings, losses and distributions. The underlying equity in net assets of
these investments exceeded Accenture's carrying value by approximately $49,528
and $154,455, at August 31, 2000 and 2001, respectively. The negative goodwill
is being amortized over three years on a straight-line basis. Amortization of
negative goodwill of $0, $1,376 and $31,545 was reflected as a component of
Equity in losses of affiliates in the accompanying Consolidated Income
Statements for the years ended August 31, 1999, 2000 and 2001, respectively.

Other-Than-Temporary Writedowns

    For the years ended August 31, 1999, 2000 and 2001, Accenture recorded
other-than-temporary impairment writedowns of $2,929, $0, and $94,489,
respectively. Of the $94,489 recorded in 2001, $18,998 was reclassified from
Other comprehensive income to Gain on investments, net and $75,491 was directly
expensed to Gain on investments, net.

6.  BORROWINGS AND INDEBTEDNESS

Lines of Credit

    At August 31, 2001, Accenture has a $450,000 unsecured multicurrency
revolving credit facility with a syndicate of banks led by Morgan Guaranty
Trust Company of New York under which it may

                                     F-13

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

borrow from the participants ratably in proportion to their respective
commitments. The facility also provides a $100,000 sublimit for the issuance of
letters of credit. The facility, which is available through August 31, 2003,
provides for committed borrowings at the prime rate or at LIBOR plus a
borrowing margin and also offers a competitive bid option. Borrowings under
this facility were $66,980 and $0 at August 31, 2000 and 2001, respectively.
Letters of credit outstanding at August 31, 2000 and 2001 were $38,000 and
$19,247, respectively. The facility is subject to annual commitment fees. The
commitment fees paid for the year ended August 31, 2001 were $456.

    On June 22, 2001, Accenture entered into a $420,000 unsecured 364-day
revolving credit facility with a syndicate of banks led by Bank of America,
N.A. The terms of the Bank of America facility are substantially similar to the
terms of the Morgan Guaranty facility. Borrowings under this facility were $0
at August 31, 2001. The facility is subject to annual commitment fees. The
commitment fees paid for the year ended August 31, 2001 were $0.

    At August 31, 2001, Accenture also has in place unsecured multicurrency
credit agreements and local lines of credit of $369,023 and $258,846,
respectively, in the form of committed and non-committed facilities at interest
rates that vary from country to country depending on local market conditions.
Borrowings under these facilities were $97,785 and $187,533 at August 31, 2000
and 2001, respectively. Certain of the agreements are subject to annual
commitment fees.

    The most restrictive of these credit agreements requires Accenture to
maintain certain financial ratios and meet certain indebtedness tests. All
these requirements were met throughout the three years ended August 31, 2001.

    The weighted average interest rate on borrowings under the multicurrency
credit agreements and lines of credit, based on the average annual balances,
was approximately 12% in 1999, 7% in 2000 and 8% in 2001.

Long-Term Debt

    Long-term debt at August 31, consisted of the following:

<TABLE>
<CAPTION>
                                                                                              2000    2001
                                                                                            -------- ------
<S>                                                                                         <C>      <C>
Joint Debt--
   --Unsecured notes payable due upon maturity at various dates through 2002 with
     interest due semiannually at fixed rates ranging from 7.52% to 8.49%.................. $ 75,000 $   --
   --Collateral trust note payable in fixed annual installments through 2011 with interest
     due semiannually at 9.26%.............................................................   34,342     --
Collateral trust note payable in varying annual installments through 2007 with interest due
  annually at 8.12%, secured by real property..............................................   18,060     --
Other......................................................................................    1,384  1,887
                                                                                            -------- ------
                                                                                             128,786  1,887
Less--Current portion......................................................................   29,921    797
                                                                                            -------- ------
       Total Long-term debt................................................................ $ 98,865 $1,090
                                                                                            ======== ======
</TABLE>

                                     F-14

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


7.  FINANCIAL INSTRUMENTS

    At August 31, 2000 and 2001, the carrying amount of Cash and cash
equivalents and Short-term bank borrowings approximates their fair value
because of their short maturities. For all other financial instruments, the
following methods and assumptions were used to approximate fair value. At
August 31, 2001, Accenture has not designated any of its derivatives as hedges
as defined by SFAS 133.

Investments

    Quoted market prices are used to determine the fair value for the common
equity and debt securities that were issued by publicly traded entities. Those
debt and equity securities issued by non-public entities were valued by
reference to the most recent round of financing as an approximation of the
market value. The fair value and cost of the warrants and options were
approximated using the Black-Scholes valuation model after considering
restrictions on exercisability or sale.


<TABLE>
<CAPTION>
                                                   2000                2001
                                            ------------------- -------------------
                                              Cost   Fair Value   Cost   Fair Value
            Type of Investment              -------- ---------- -------- ----------
<S>                                         <C>      <C>        <C>      <C>
Debt and equity securities (cost method)
   --Issued by public entities, short-term. $    600  $395,620  $     --  $     --
   --Issued by public entities, long-term..   31,442   159,205    41,787    33,096
   --Issued by non-public entities.........  134,094   174,573   271,532   298,523

Warrants
   --Issued by public entities, long-term..   30,100   199,483    52,420    52,420
   --Issued by non-public entities.........   30,946    27,161     1,081     1,081
</TABLE>

Long-Term Debt

    The fair value of Long-term debt, including current maturities, was
estimated to be $132,362 and $1,887 at August 31, 2000 and 2001, respectively,
based on the borrowing rates currently available to Accenture for loans with
similar terms and average maturities.

Foreign Exchange Instruments

    Market quoted exchange rates are used to determine the fair value of the
instruments. The notional values and fair values of derivative foreign exchange
instruments at August 31, are as follows:

<TABLE>
<CAPTION>
                                                    2000              2001
                                              ----------------  ---------------
                                              Notional  Fair    Notional  Fair
                                               Value    Value    Value    Value
                                              -------- -------  -------- ------
<S>                                           <C>      <C>      <C>      <C>
Foreign currency forward exchange contracts--
   To sell................................... $100,768 $ 3,300  $ 87,563 $1,542
   To buy....................................  107,361  (2,814)  127,067   (513)
Option contracts
   Put options............................... $ 84,732 $12,269  $     -- $   --
   Call options..............................   26,264      --        --     --
</TABLE>

                                     F-15

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


8.   INCOME TAXES

    Prior to its transition to a corporate structure, Accenture operated
through partnerships in many countries and generally was not subject to income
taxes in those countries. Taxes related to income earned by the partnerships
were the responsibility of the individual partners. In some non-U.S. countries,
Accenture operated through corporations and was subject to local income taxes.
In addition, Accenture was subject to local unincorporated business taxes in
some jurisdictions. Effective with the transition to a corporate structure on
May 31, 2001, Accenture became subject to U.S. federal and other national,
state and local corporate income taxes.

    The components of the provision for income taxes reflected on the
Consolidated Income Statement for the year ended August 31, 2001 include the
following:

<TABLE>
               <S>                                    <C>

               Current taxes:
                  U.S. federal....................... $ 382,690
                  U.S. state and local...............    66,080
                  Non-U.S............................   330,590
                                                      ---------
                      Total current tax expense......   779,360
                                                      ---------

               Deferred taxes:
                  U.S. federal.......................   (85,520)
                  U.S. state and local...............   (19,612)
                  Non-U.S............................  (171,612)
                                                      ---------
                      Total deferred tax expense.....  (276,744)
                                                      ---------
               Total................................. $ 502,616
                                                      =========
</TABLE>

    A reconciliation of the U.S. federal statutory income tax rate to
Accenture's effective income tax rate for the year ended August 31, 2001 is set
forth below:

<TABLE>
              <S>                                          <C>
              U.S. federal statutory income tax rate......  35.0%
              U.S. state and local taxes, net.............   1.0
              Other.......................................   3.0
              Rate benefit for partnership period......... (49.0)
              Revaluation of deferred tax liabilities(1)..  13.6
              Costs of transition to a corporate structure  59.6
                                                           -----
                     Effective income tax rate............  63.2%
                                                           =====
</TABLE>
--------
(1) The revaluation of deferred tax liabilities upon change in tax status is a
    deferred tax expense recognized upon Accenture's change in tax status from
    partnership to corporate form.

                                     F-16

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


    Significant components of Accenture's deferred tax assets and liabilities
at August 31, 2001 are as follows:

<TABLE>
                <S>                                  <C>
                Deferred tax assets:
                   Pensions......................... $ 122,376
                   Revenue recognition..............    78,336
                   Compensation and benefits........   190,799
                   Investments......................    54,473
                   Tax credit carryforwards.........    16,632
                   Net operating loss carryforwards.    15,935
                   Depreciation and amortization....    70,028
                   Other............................    37,410
                                                     ---------
                                                       585,989
                       Valuation allowance(1).......   (76,187)
                                                     ---------
                   Total deferred tax assets........   509,802
                                                     ---------
                Deferred tax liabilities:
                   Pensions.........................   (21,822)
                   Revenue recognition..............   (55,787)
                   Compensation and benefits........   (17,482)
                   Investments......................   (30,717)
                   Depreciation and amortization....   (56,961)
                   Other............................   (27,386)
                                                     ---------
                   Total deferred tax liabilities...  (210,155)
                                                     ---------
                Net deferred tax assets............. $ 299,647
                                                     =========
</TABLE>
--------
(1) Accenture has recognized a valuation allowance of $76,187 relating to the
    ability to recognize the tax benefits associated with capital losses on
    certain U.S. investments and with specific tax net operating loss
    carryforwards and tax credit carryforwards of certain non-U.S. operations.

    Accenture has net operating loss carryforwards at August 31, 2001 of
$48,938. Of this amount, $42,209 expires at various dates through 2011 and
$6,729 has an indefinite carryforward period. Accenture has tax credit
carryforwards at August 31, 2001 of $16,632 that expire at various dates
through 2016.

    If Accenture or one of its non-U.S. subsidiaries were classified as a
foreign personal holding company, Accenture's U.S. shareholders would be
required to include in income, as a dividend, their pro rata share of
Accenture's (or Accenture's relevant non-U.S. subsidiary's) undistributed
foreign personal holding company income.

    Because of the application of complex U.S. tax rules regarding attribution
of ownership, Accenture meets the definition of a foreign personal holding
company this year. However, there is no foreign personal holding company income
that its U.S. shareholders are required to include in income this year. In the
event that Accenture has net foreign personal holding company income, Accenture
may distribute a dividend to shareholders to avoid having taxable income
imputed under these rules. Under certain circumstances, such a distribution
could create additional income tax costs to Accenture. Since

                                     F-17

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

Accenture does not have any foreign personal holding company income this year,
no such taxes have been provided.

9.  PARTNERS' CAPITAL

    Partners' capital represented the capital of partners who were the owners
of Accenture Member Firms. Paid-in-capital was repayable within 60 days
following a partner's resignation, retirement or death. Interest was paid to
the partners on their paid-in capital accounts and recorded as a distribution
of partners' income. Undistributed earnings, contained within Partners'
Capital, represented Partnership Income Before Distributions which had not been
paid to the partners. Partners were not paid interest on Undistributed
earnings. The average balance of the Undistributed earnings and Paid-in-capital
during the years ended August 31, 1999 and 2000 was $1,687,197 and $1,853,190,
respectively.

    Upon retirement, all qualifying Accenture partners or their qualifying
surviving spouses were entitled to receive basic retirement benefits for life.
This plan was eliminated for active partners after May 15, 2001 in connection
with the transition to a corporate structure. All qualifying participants prior
to May 15, 2001 will receive basic retirement benefits for life. The amount of
annual benefit payments is periodically adjusted for cost-of-living adjustments
at the beginning of each calendar year. Basic retirement benefits of $1,268 in
1999, $1,759 in 2000 and $2,268 in 2001 were paid to retired partners. The
projected benefit obligation ("PBO") and the accrued benefit cost of the basic
retirement benefits at August 31, 2001 is $63,537 as the plan is not funded.
The accumulated benefit obligation at August 31, 2001 was $59,588. The PBO was
estimated based on a discount rate of 8% and an assumed rate of increase in
future benefits of 1.9%.

    In respect of periods ended on or prior to May 15, 2001, early retirement
benefits were paid to certain Accenture partners who retired between the ages
of 56 and 62. Partners retiring after age 56 and prior to age 62 received early
retirement benefits based on two years' earnings on a straight-line declining
basis that resulted in no payout to partners retiring at age 62. Retired
partners could elect to receive early retirement benefits in the form of a
lump-sum payment or ten-year installment payments. This plan was eliminated for
active partners after May 15, 2001, in connection with the transition to a
corporate structure.

    Early retirement benefits of $12,483 in 1999, $28,967 in 2000 and $37,685
in 2001 were paid to retired partners. The amount due for early retirement
benefits is $283,097 at August 31, 2001, which is being paid out over the
period through 2010.

    Both the basic and early retirement benefit liabilities were recorded as
reductions of partners' capital as of May 31, 2001, as payments related to
these obligations were previously recorded as distributions of partners' income.

    In connection with the transition to a corporate structure, Accenture
returned partners' paid-in-capital of $549,811. In addition, undistributed
earnings as of May 31, 2001 are expected to be paid to the partners in one or
more installments on or prior to December 31, 2001. At August 31, 2001,
$818,888 of undistributed earnings was included in Due to related parties on
the Consolidated Balance Sheet.

                                     F-18

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


    Effective September 1, 2000, 1,286 employees were admitted as partners of
Accenture, which approximately doubled the number of partners. This increased
number of partner admissions was designed to incentivize Accenture's
professionals at an earlier stage in their careers. As a result, the
Consolidated financial statements for the year ended August 31, 2001 reflect
compensation expense for these 1,286 additional partners only for the three
month period from June 1, 2001 to August 31, 2001, as compared to twelve months
of compensation expense for these individuals for the years ended August 31,
1999 and 2000.

10.  SHAREHOLDERS' EQUITY

Class A Common Shares

    Holders of Accenture Ltd's Class A common shares are entitled to one vote
per share. Shareholders of Accenture Ltd do not have cumulative voting rights.
Each Class A common share is entitled to a pro rata part of any dividend at the
times and in the amounts, if any, which Accenture Ltd's board of directors from
time to time determines to declare, subject to any preferred dividend rights
attaching to any preferred shares. Finally, each Class A common share is
entitled on a winding-up of Accenture Ltd to be paid a pro rata part of the
value of the assets of Accenture Ltd remaining after payment of its
liabilities, subject to any preferred rights on liquidation attaching to any
preferred shares.

    On July 24, 2001, Accenture Ltd issued 115 million Class A common shares in
an initial public offering. Accenture's proceeds from the initial public
offering, net of underwriting discounts of $78,200 and other estimated expenses
of $19,667, were $1,569,633. On August 14, 2001, an additional 16.05 million
Class A common shares were issued in connection with the exercise of the
underwriters' over allotment option, resulting in net proceeds of $221,811. Of
these net proceeds, $355,000 were used to repay amounts outstanding under
revolving credit facilities, a portion was used to cover the costs incurred in
connection with the transition to a corporate structure, and the balance was
used for working capital, which was previously funded by the partners, and for
general corporate purposes.

    In August 2001, Accenture's board of directors authorized the repurchase of
up to $150,000 of the Class A common shares of Accenture Ltd.

Class X Common Shares

    Holders of Accenture Ltd's Class X common shares are entitled to one vote
per share. Class X common shares are not entitled to dividends and are not
entitled to be paid any amount upon winding up of Accenture Ltd. Most of
Accenture's partners receiving Accenture SCA Class I common shares or Accenture
Canada Holdings Inc. exchangeable shares in connection with the transition to a
corporate structure received a corresponding number of Accenture Ltd Class X
common shares. Accenture Ltd may, at its option, redeem any Class X common
share for a redemption price equal to the par value of the Class X common
share. Accenture Ltd may not, however, redeem any Class X common share of a
holder if such redemption would reduce the number of Class X common shares held
by that holder to a number that is less than the number of Accenture SCA Class
I common shares or Accenture Canada Holdings Inc. exchangeable shares held by
that holder, as the case may be. Accenture Ltd will redeem Accenture Ltd Class
X common shares upon redemption or exchange of Accenture SCA Class I common
shares and

                                     F-19

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

Accenture Canada Holdings Inc. exchangeable shares so that the aggregate number
of Class X common shares outstanding at any time does not exceed the aggregate
number of Accenture SCA Class I common shares and Accenture Canada Holdings
Inc. exchangeable shares outstanding.

Voting Agreement

Persons and Shares Covered

    Accenture Ltd and each of the Accenture partners who own Accenture Ltd
Class A or Class X common shares have entered into a voting agreement and each
other person who becomes a partner will be required to enter into the voting
agreement. The parties to the voting agreement, other than Accenture Ltd, are
referred to as "covered persons."

    The Accenture Ltd shares covered by the voting agreement generally include
(1) any Accenture Ltd Class X common shares that are held by a partner, (2) any
Accenture Ltd Class A common shares beneficially owned by a partner at the time
in question and also as of or prior to the offering and (3) any Accenture Ltd
Class A common shares if they are received from Accenture while an employee, a
partner or in connection with becoming a partner or otherwise acquired if the
acquisition is required by Accenture. The shares covered by the voting
agreement are referred to as "covered shares." Accenture Ltd Class A common
shares purchased by a covered person in the open market or, subject to certain
limitations, in a subsequent underwritten public offering, will not generally
be subject to the voting agreement. When a covered person ceases to be an
employee of Accenture, the shares held by that covered person will no longer be
subject to the voting provisions of the voting agreement described below.

Transfer Restrictions

    By entering into the voting agreement, each covered person has agreed,
among other things, to:

    . except as described below, maintain beneficial ownership of his or her
      covered shares received on or prior to the date of the offering for a
      period of eight years thereafter; and

    . maintain beneficial ownership of at least 25% of his or her covered
      shares received on or prior to the date of the offering as long as he or
      she is an employee of Accenture.

    Covered persons who continue to be employees of Accenture will be permitted
to transfer a percentage of the covered shares owned by them on each
anniversary of the offering commencing on the first anniversary of Accenture
Ltd's initial public offering and in increasing amounts over the subsequent
seven years. Class X common shares of Accenture Ltd may not be transferred at
any time, except upon the death of a holder of Class X common shares or with
the consent of Accenture Ltd. Accenture Canada Holdings Inc. exchangeable
shares held by covered persons are also subject to the transfer restrictions in
the voting agreement.

Voting

    Under the voting agreement, prior to any vote of the shareholders of
Accenture Ltd, a separate, preliminary vote of the covered shares owned by
covered persons who are employees of Accenture will be taken on each matter
upon which a vote of the shareholders is proposed to be taken. Subsequently,
all of

                                     F-20

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

these covered shares will be voted in the vote of the shareholders of Accenture
Ltd in accordance with the majority of the votes cast in the preliminary vote.

    Notwithstanding the foregoing, in elections of directors, all covered
shares owned by covered persons who are employees of Accenture will be voted in
favor of the election of those persons receiving the highest numbers of votes
cast in the preliminary vote. In the case of a vote for an amendment to
Accenture Ltd's constituent documents, or with respect to an amalgamation,
liquidation, dissolution, sale of all or substantially all of its property and
assets or any similar transaction with respect to Accenture Ltd, all covered
shares owned by covered persons who are employees will be voted against the
proposal unless at least 66 2/3% of the votes in the preliminary vote are cast
in favor of that proposal, in which case all of these covered shares will be
voted in favor of the proposal.

    So long as the covered shares owned by covered persons that are employees
of Accenture represent a majority of the outstanding voting power of Accenture
Ltd, partners from any one country will not have more than 50% of the voting
power in any preliminary vote under the voting agreement.

Term and Amendment

    The voting agreement will continue in effect until the earlier of 50 years
from the date of the voting agreement and the time it is terminated by the vote
of 66 2/3% of the votes represented by the covered shares owned by covered
persons who are employees of Accenture. The transfer restrictions will not
terminate upon the expiration or termination of the voting agreement unless
they have been previously waived or terminated under the terms of the voting
agreement. The voting agreement may generally be amended at any time by the
affirmative vote of 66 2/3% of the votes represented by the covered shares
owned by covered persons who are employees of Accenture. Amendment of the
transfer restrictions also requires the consent of Accenture Ltd.

Waivers and Adjustments

    The transfer restrictions and the other provisions of the voting agreement
may be waived at any time by the partners' representatives in specified
circumstances. Subject to the foregoing, the provisions of the voting agreement
may generally be waived by the affirmative vote of 66 2/3% of the votes
represented by the covered shares owned by covered persons who are employees of
Accenture. A general waiver of the transfer restrictions also requires the
consent of Accenture Ltd.

11.  MINORITY INTEREST

Accenture SCA Class I Common Shares

    Partners in Australia, Denmark, France, Italy, Norway, Spain, Sweden and
the United States received Accenture SCA Class I common shares. Each Class I
common share of Accenture SCA entitles its holder to one vote on all matters
submitted to a vote of shareholders of Accenture SCA. Subject to contractual
transfer restrictions, Accenture SCA is obligated, at the option of the holder,
to redeem any outstanding Accenture SCA Class I common share at a redemption
price per share generally equal to the market price of an Accenture Ltd Class A
common share at the time of the redemption. Accenture SCA may, at its option,
pay this redemption price with cash or by delivering Accenture Ltd Class A
common

                                     F-21

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

shares on a one-for-one basis. This one-for-one redemption price and exchange
ratio will be adjusted if Accenture Ltd holds more than a de minimis amount of
assets (other than its interest in Accenture SCA and assets it holds only
transiently prior to contributing them to Accenture SCA) or incurs more than a
de minimis amount of liabilities (other than liabilities for which Accenture
SCA has a corresponding liability to Accenture Ltd). Accenture Ltd does not
intend to hold any material assets other than its interest in Accenture SCA or
to incur any material liabilities such that this one-for-one exchange ratio
would require an adjustment.

Accenture SCA Transfer Rights Agreement

Persons and Shares Covered

    Accenture SCA and each of the partners who own shares of Accenture SCA have
entered into a transfer rights agreement. The parties to the transfer rights
agreement, other than Accenture SCA, are referred to as "covered persons."

    The Accenture SCA shares covered by the transfer rights agreement generally
include all Class I common shares of Accenture SCA owned by a covered person.
The shares covered by the transfer rights agreement are referred to as "covered
shares."

Transfer Restrictions

    The articles of association of Accenture SCA provide that shares of
Accenture SCA (other than those held by Accenture Ltd) may be transferred only
with the consent of the Accenture SCA supervisory board or its delegate, the
Accenture SCA partners committee. In addition, by entering into the transfer
rights agreement, each party (other than Accenture Ltd) agrees, among other
things, to:

    . except as described below, maintain beneficial ownership of his or her
      covered shares received on or prior to the date of the offering for a
      period of eight years thereafter; and

    . maintain beneficial ownership of at least 25% of his or her covered
      shares received on or prior to the date of the offering as long as he or
      she is an employee of Accenture.

    Covered persons who continue to be employees of Accenture will be permitted
to transfer a percentage of the covered shares owned by them on each
anniversary of the offering commencing on the first anniversary of Accenture
Ltd's initial public offering and in increasing amounts over the subsequent
seven years.

    In addition, at any time after the third anniversary of the date of the
consummation of the transition to a corporate structure, covered persons
holding Accenture SCA Class I common shares may, without restriction, require
Accenture SCA to redeem any Accenture SCA Class I common share held by such
holder for a redemption price per share generally equal to the lower of the
market price of an Accenture Ltd Class A common share and $1. Accenture SCA
may, at its option, pay this redemption price in cash or by delivering
Accenture Ltd Class A common shares.

    All transfer restrictions applicable to a covered person under the transfer
rights agreement terminate upon death.

                                     F-22

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Term and Amendment

    The transfer rights agreement will continue in effect until the earlier of
50 years from the date of the transfer rights agreement and the time it is
terminated by the vote of 66 2/3% of the votes represented by the covered
shares owned by covered persons who are employees of Accenture. The transfer
restrictions will not terminate upon the expiration or termination of the
transfer rights agreement unless they have been previously waived or terminated
under the terms of the transfer rights agreement. The transfer rights agreement
may generally be amended at any time by the affirmative vote of 66 2/3% of the
votes represented by the covered shares owned by covered persons who are
employees of Accenture. Amendment of the transfer restrictions also requires
the consent of Accenture SCA.

Waivers and Adjustments

    The transfer restrictions and other provisions of the transfer rights
agreement may be waived at any time by the Accenture SCA partners committee in
specified circumstances. Subject to the foregoing, the provisions of the
transfer rights agreement may generally be waived by the affirmative vote of
66 2/3% of the votes represented by the covered shares owned by covered persons
who are employees of Accenture. A general waiver of the transfer restrictions
also requires the consent of Accenture SCA.

Accenture Canada Holdings Inc. Exchangeable Shares

    Partners resident in Canada and New Zealand received Accenture Canada
Holdings Inc. exchangeable shares and Accenture Ltd Class X common shares.
Holders of Accenture Canada Holdings Inc. exchangeable shares may exchange
their shares for Accenture Ltd Class A common shares on a one-for-one basis.
Accenture Canada Holdings Inc. may, at its option, satisfy this exchange with
cash at a price per share generally equal to the market price of an Accenture
Ltd Class A common share at the time of the exchange. Each exchangeable share
of Accenture Canada Holdings Inc. entitles its holder to receive distributions
equal to any distributions to which an Accenture Ltd Class A common share
entitles its holder.

Minority Interest Income/Expense

    Upon completion of the transition to a corporate structure in May 2001, the
minority ownership percentage in Accenture SCA and Accenture Canada Holdings
Inc. aggregated 74%. This minority interest percentage declined to 59% by
August 31, 2001 due to shares issued in connection with the initial public
offering and restricted share units granted and vested prior to August 31,
2001. The calculation of the minority interest percentage at August 31, 2001
reflects the assumed issuance to Accenture Ltd of the 68,481,815 Accenture SCA
Class I common shares that will be issued in connection with the delivery of
the 68,481,815 Accenture Ltd Class A common shares underlying 68,481,815
restricted share units which generally are considered fully vested and will be
issued for no consideration solely upon the passage of time.

    Minority interest income of $577,188 reflected in the Consolidated Income
Statement for the year ended August 31, 2001 represents the pro rata ownership
interest of the minority shareholders in the $946,970 of loss before minority
interest of Accenture SCA for the three months ended August 31, 2001.

                                     F-23

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


12.  EMPLOYEE SHARE PLANS

Share Incentive Plan

    The Accenture Ltd 2001 Share Incentive Plan (the "share incentive plan")
permits the grant of nonqualified share options, incentive stock options, share
appreciation rights, restricted shares, restricted share units and other
share-based awards to employees, directors, third-party consultants, former
United States employees or former partners of, or other persons who perform
services for, Accenture Ltd and its affiliates. A maximum of 375 million Class
A common shares may be subject to awards under the share incentive plan. Class
A common shares covered by awards that expire, terminate or lapse will again be
available for the grant of awards under the share incentive plan. The share
incentive plan is administered by a committee of the board of directors of
Accenture Ltd, which may delegate its duties and powers in whole or in part as
it determines.

Options

    Accenture shall determine the exercise price for each option, provided,
however, that an incentive share option must generally have an exercise price
that is at least equal to the fair market value of the Class A common shares on
the date the option is granted.

    Options currently outstanding under the share incentive plan have a maximum
term of ten years. Options vest under varying schedules. At August 31, 2001,
241,798,292 shares were available for future grants under the share incentive
plan. The following tables summarize information about share options activity
during the year.

    Stock option activity for fiscal 2001 was as follows:

<TABLE>
<CAPTION>
                                                         Weighted
                                                         Average
                                             Shares   Exercise Price
                                           ---------- --------------
            <S>                            <C>        <C>
            Outstanding, beginning of year         --     $   --
                Granted................... 96,360,395      14.54
                Exercised.................         --         --
                Forfeited.................    539,964      14.51
                Expired...................         --         --
                                           ----------     ------
            Outstanding, end of year...... 95,820,431     $14.54
                                           ==========     ======
</TABLE>

    The following table summarizes information about stock options outstanding
at August 31, 2001:

<TABLE>
<CAPTION>
                                                 Weighted Average Remaining
     Range of Exercise Prices Shares Outstanding  Contractual Life (Years)
     ------------------------ ------------------ --------------------------
     <S>                      <C>                <C>
              $14.50              90,267,779                9.9
               15.15               5,442,744                9.9
               15.50                 109,908                9.9
                                  ----------                ---
                                  95,820,431                9.9
                                  ==========                ===
</TABLE>

<TABLE>
           <S>                                            <C>
           Options exercisable, end of year..............          --
           Options available for grant, end of year...... 241,798,292
           Weighted average fair value of options granted       $7.74
</TABLE>

                                     F-24

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Pro Forma Fair Value Disclosures

    Accenture elected to follow Accounting Principles Board Opinion No. 25,
"Accounting for Stock Issued to Employees," ("APB 25") in accounting for its
employee share options rather than, as discussed below, the alternative fair
value accounting provided for under SFAS 123, "Accounting for Stock-Based
Compensation". Under APB 25, because the exercise price of Accenture's employee
share options equals the market price of the underlying shares on the date of
grant, no compensation expense is recognized in Accenture's financial
statements.

    Pro forma information regarding net income and earnings per share is
required by SFAS 123. This information is required to be determined as if
Accenture had accounted for its employee share options under the fair value
method of that statement. The fair value of options granted in 2001 reported
below was estimated at the date of grant using the Black-Scholes option-pricing
model with the following weighted average assumptions:

<TABLE>
<CAPTION>
                                                  2001
                                          --------------------
                 Stock Option Plans       Partners Non-partners
                 ------------------       -------- ------------
                 <S>                      <C>      <C>
                 Expected life (in years)      6          5
                 Risk-free interest rate.   4.93%      4.73%
                 Volatility..............     50%        50%
                 Dividend yield..........      0%         0%
</TABLE>

    For purposes of pro forma disclosures, the estimated fair value of the
options is amortized to expense over the options' vesting periods. The
following pro forma information reflects the amortized expense from the date of
grant:

<TABLE>
<CAPTION>
                                                                2001
                                                             ----------
         <S>                                                 <C>
         Net income......................................... $1,057,403
         Pro forma expenses--estimated fair value of options      5,201
                                                             ----------
         Pro forma net income............................... $1,052,202
                                                             ==========
</TABLE>

Restricted Share Units and Other Share-Based Awards

    Under the share incentive plan, the committee may grant awards of
restricted share units, Class A common shares, restricted shares and awards
that are valued in whole or in part by reference to, or are otherwise based on
the fair market value of, Class A common shares. The restricted share units and
other share-based awards will be subject to the terms and conditions
established by the committee.

    Under the share incentive plan, participants may be granted restricted
share units without cost to the participant. Each restricted share unit awarded
to a participant represents an unfunded, unsecured right, which is
nontransferable except in the event of death, of the participant to receive a
Class A common share on the date specified in the participant's award
agreement. The restricted share units granted under this plan vest at various
times, generally ranging from immediate vesting to vesting over a five year
period. In fiscal 2001, 68,481,815 restricted share units were granted to
participants with a weighted average fair value of $1,025,563, while, $967,110
was charged to expense which was net of $26,270 related to cancelled
liabilities on the deferred bonus plan for employees.

                                     F-25

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Employee Share Purchase Plan

    The Accenture Ltd 2001 Employee Share Purchase Plan is a nonqualified plan
and allows eligible employee participants to purchase Class A common shares at
a discount through payroll deductions or contributions. Eligible employees may
elect to contribute 1% to 10% of their compensation each offering period to
purchase Class A common shares under the plan, but are not permitted to
purchase, during any calendar year, Class A common shares with an aggregate
fair market value in excess of $25. The purchase price will be set by the
committee, but cannot be less than 85% of the lesser of the fair market value
of the shares on the first or last day of the offering period. A maximum of 75
million Class A common shares may be issued under the plan. As of August 31,
2001, there were no offerings and 75 million shares were reserved for future
issuance.

13.  PROFIT SHARING AND RETIREMENT PLANS

    In the United States, Accenture maintains and administers a trusteed profit
sharing plan that includes 19,800 active Accenture employees. The annual profit
sharing contribution is determined by management. The contribution to the
profit sharing plan was $79,708 in 1999, $87,189 in 2000 and $97,439 in 2001,
which approximated 6% of plan members' compensation.

    In the United States, and certain other countries, Accenture also maintains
and administers noncontributory retirement and postretirement medical plans for
active, retired and resigned Accenture employees. Benefits under the
noncontributory employee retirement plans are based on years of service and
compensation during the years immediately preceding retirement. Plan assets of
the noncontributory employee retirement plans consist of investments in
equities, fixed income securities and cash equivalents. Annual contributions
are made at such times and in amounts as required by law and may, from time to
time, exceed minimum funding requirements.

    In addition, certain postemployment benefits are provided to former or
inactive employees after employment but before retirement, including severance
benefits, disability-related benefits (including worker's compensation) and
continuation of benefits such as healthcare benefits and life insurance
coverage. These costs are substantially provided for on an accrual basis.

    The following schedules provide information concerning the material defined
benefit pension and postretirement benefit plans.

                                     F-26

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


<TABLE>
<CAPTION>
                                          Pension Benefits     Other Benefits
                                         ------------------  ------------------
                                           2000      2001      2000      2001
                                         --------  --------  --------  --------
<S>                                      <C>       <C>       <C>       <C>
Changes in projected benefit obligation
Projected benefit obligation, beginning
  of year............................... $314,425  $308,599  $ 28,392  $ 30,463
Service cost............................   49,626    39,825     3,205     4,136
Interest cost...........................   21,232    21,465     2,123     2,426
Amendments..............................       --     1,558        --        --
Participants contributions..............      260       223        --        --
Actuarial (gain)/loss...................  (64,802)   33,082    (3,151)   14,895
Benefits paid...........................   (6,432)   (9,867)     (106)     (158)
Exchange rate (gain)....................   (5,710)   (7,290)       --        --
                                         --------  --------  --------  --------
Projected benefit obligation, end of
  year.................................. $308,599  $387,595  $ 30,463  $ 51,762
                                         ========  ========  ========  ========
Changes in plan assets
Fair value of plan assets, beginning of
  year.................................. $278,172  $310,066  $ 12,552  $ 15,126
Expected return on plan assets..........   27,038    23,964     1,033     1,147
Actuarial (loss)........................   (1,982)  (53,617)     (488)     (265)
Employer contributions..................   16,072   108,349     2,135     4,305
Participants contributions..............      260       223        --        --
Benefits paid...........................   (6,432)   (9,867)     (106)     (158)
Exchange rate (loss)....................   (3,062)   (5,139)       --        --
                                         --------  --------  --------  --------
Fair value of plan assets, end of year.. $310,066  $373,979  $ 15,126  $ 20,155
                                         ========  ========  ========  ========
Reconciliation of funded status
Funded status........................... $  1,467  $(13,616) $(15,337) $(31,607)
Unrecognized transitional obligation....    2,553     1,717     1,083       997
Unrecognized loss/(gain)................  (70,290)   22,788     2,166    17,324
Unrecognized prior service cost.........   12,154    11,419        --        --
                                         --------  --------  --------  --------
(Accrued) benefit cost as of 6/30.......  (54,116)   22,308   (12,088)  (13,286)
Contribution between 6/30 - 8/31........       --        --     3,308     2,261
Adjustment..............................      685        --        --        --
                                         --------  --------  --------  --------
Prepaid (accrued) benefit cost as of
  8/31.................................. $(53,431) $ 22,308  $ (8,780) $(11,025)
                                         ========  ========  ========  ========
Amounts recognized in the Combined and
  Consolidated Balance Sheets consist
  of:
Prepaid benefit cost.................... $    560  $ 60,023  $     --  $     --
Accrued benefit liability...............  (53,991)  (37,715)   (8,780)  (11,025)
                                         --------  --------  --------  --------
Net amount recognized at year-end....... $(53,431) $ 22,308  $ (8,780) $(11,025)
                                         ========  ========  ========  ========
Components of pension expense
Service cost............................ $ 49,626  $ 39,825  $  3,205  $  4,136
Interest cost...........................   21,232    21,465     2,123     2,426
Expected return on plan assets..........  (27,038)  (23,964)   (1,033)   (1,147)
Amortization of transitional obligation.      667       601        87        87
Amortization of loss....................     (326)   (5,230)      142        --
Amortization of prior service cost......    2,293     2,293        --        --
                                         --------  --------  --------  --------
Total................................... $ 46,454  $ 34,990  $  4,524  $  5,502
                                         ========  ========  ========  ========
</TABLE>

                                     F-27

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


<TABLE>
<CAPTION>
                                            Pension Benefits   Other Benefits
                                            ---------------- -------------------
                                            2000     2001      2000      2001
                                             -----    -----  --------- ---------
    <S>                                     <C>      <C>     <C>       <C>
    Weighted-average assumptions
    Discount rate.......................... 7.07%    6.83%       8.00%     7.50%
    Expected return on plan assets......... 7.78%    7.99%   8.0%/6.0% 8.0%/6.0%
    Rate of increase in future compensation 7.37%    7.62%         N/A       N/A
</TABLE>

    The projected benefit obligations and fair value of plan assets for defined
benefit pension plans with projected benefit obligations in excess of plan
assets were $308,599 and $310,066, respectively, as of August 31, 2000 and
$387,595 and $373,979, respectively, as of August 31, 2001. The accumulated
benefit obligations and fair value of plan assets for plans with accumulated
benefit obligations in excess of plan assets were $38,300 and $19,800,
respectively, as of August 31, 2000 and $41,000 and $17,300, respectively, as
of August 31, 2001.

Assumed Health Care Cost Trend

    Annual rate increases in the per capita cost of health care benefits of
10.0% (under 65) and 11.5% (over 65) were assumed for the plan year ending June
30, 2002. The trend rate assumptions are changed beginning for the plan year
ending June 30, 2002. The rate is assumed to decrease on a straight-line basis
to 5.0% for the plan year ending June 30, 2009 and remain at that level
thereafter. Assumed health care cost trend rates have a significant effect on
the amounts reported for the health care plan. A one percentage point change in
assumed health care cost trend would have the following effects:

<TABLE>
<CAPTION>
                                                            One Percentage
                                                            Point Increase
                                                           ----------------
                                                             2000     2001
                                                           -------  -------
   <S>                                                     <C>      <C>
   Effect on total of service and interest cost components $   875  $ 1,445
   Effect on year-end postretirement benefit obligation...   5,600    7,336

                                                            One Percentage
                                                            Point Decrease
                                                           ----------------
                                                             2000     2001
                                                           -------  -------
   Effect on total of service and interest cost components $  (796) $(1,256)
   Effect on year-end postretirement benefit obligation...  (4,500)  (6,367)
</TABLE>

Deferred Bonus Plan

    On September 1, 2000, Accenture implemented a deferred bonus plan for
employees based on tenure and performance. The plan provided for a loyalty
award, which vested immediately, and a performance award, which vested over a
period of three years. In connection with the grant of restricted share units,
Accenture terminated the deferred bonus plan for employees on July 19, 2001. At
August 31, 2001, the liability for the liquidated investments was $73,218,
which will be paid out in the first quarter of fiscal 2002 in partial
settlement of vested benefits. For the remaining vested, and unvested benefits,
7,968,826 restricted share units were granted to employees on July 19, 2001.

14.  LEASE COMMITMENTS

    Accenture has various lease agreements, principally for office space, with
various renewal options. Rental expense (net of sublease income from third
parties of $2,154 in 1999, $3,273 in 2000 and

                                     F-28

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

$12,911 in 2001) including operating costs and taxes, was $196,577 in 1999,
$217,675 in 2000 and $207,757 in 2001. Future minimum rental commitments under
non-cancelable operating leases as of August 31, 2001, are as follows:

<TABLE>
                             <S>        <C>
                                 2002.. $  216,732
                                 2003..    186,537
                                 2004..    163,499
                                 2005..    132,614
                                 2006..    111,151
                             Thereafter    420,704
                                        ----------
                                        $1,231,237
                                        ==========
</TABLE>

15.  REORGANIZATION AND REBRANDING

    Reorganization and rebranding costs include one-time costs, beginning
September 2000, to rename the organization Accenture and other costs related to
the transition to a corporate structure. Reorganization and rebranding costs
were $848,615 for the year ended August 31, 2001 and included $157,000 of
amortization of intangible assets acquired in connection with the Memorandum of
Understanding with AW-SC and AA, as described in Note 16. The intangible assets
related to the forbearance by AW-SC and Arthur Andersen to use, and the limited
use by Accenture of, the Andersen Consulting name or variations of that name
and related domain names. The intangible assets were amortized over periods
ranging from three to six months.

16.  RELATED PARTIES

    In prior years, Accenture engaged in various transactions with AA/AW-SC,
which was then a related party as described in Note 1. Below is a summary of
those transactions.

<TABLE>
<CAPTION>
                                                        1999    2000
                                                       ------- -------
          <S>                                          <C>     <C>
          Nature of Transaction
          Rental expense.............................. $36,353 $23,948
          Andersen Worldwide costs allocated..........  24,163  18,975
          Professional education and development costs  52,582  38,577
          Professional services.......................  31,880  34,710
          Interest expense............................  12,955   3,950
</TABLE>

    The Combined Income Statements Before Partner Distributions include
expenses that were allocated to Accenture by AW-SC on a specific identification
basis. In addition, AW-SC incurred certain costs on behalf of Accenture which
were allocated to Accenture primarily based on square footage, partner units,
net assets employed or number of training participants.

    Until August 7, 2000, AW-SC, as an agent for the Accenture and AA Member
Firms, facilitated various MFIAs among the individual Accenture and AA Member
Firms. Amounts due to AW-SC from Accenture Member Firms under these MFIAs were
$279,776 in 1999 and $313,832 in 2000.

                                     F-29

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


    On December 17, 1997, the Accenture Member Firms requested binding
arbitration, pursuant to their respective MFIAs with AW-SC, of claims that the
AA Member Firms and AW-SC, among other things, had breached or failed to
perform material obligations owed to the Accenture Member Firms. The MFIAs
provided that performance thereunder should continue if reasonably possible
pending the resolution of the arbitration subject to the right to discharge
payment obligations at issue in such an arbitration by placing amounts in
escrow. On August 18, 1998, certain Accenture Member Firms placed into escrow
$195,000, which represented the majority of the $232,548 payable under the
member firm agreements to AA Member Firms for 1998. Accenture Member Firms
placed the remaining $37,548 into escrow on December 22, 1998. On August 27,
1999, $50,000 was placed into escrow, representing a portion of the $279,776
payable under the member firm agreements to AA Member Firms for 1999. Accenture
Member Firms placed the remaining $229,776 into escrow in December 1999. Under
the terms of the escrow agreement these funds, including interest earned, could
only be distributed out of escrow in accordance with the Final Award of the
Tribunal in the aforementioned arbitration.

    By its Final Award dated July 28, 2000, and notified to the parties on
August 7, 2000, the Tribunal appointed by the International Chamber of Commerce
("ICC") ruled that AW-SC had breached its material obligations under the MFIAs
in fundamental respects and the Accenture Member Firms were excused from any
further obligations to AW-SC and AA Member Firms under the MFIAs as of August
7, 2000. The ruling further stated that the escrowed funds plus accrued
interest should be paid to AA as directed by AW-SC and allocated the costs of
the proceeding among the parties. The escrowed funds, along with net
accumulated interest on investments, were transferred to AA by the escrow agent
on various dates in September, 2000.

    On December 19, 2000, AW-SC, Arthur Andersen LLP and the other AA Member
Firms, APSC, Accenture LLP and the other Accenture Member Firms, on their own
behalves and on behalf of their respective partners, shareholders, other
principals and affiliates, executed a binding Memorandum of Understanding
("MOU") to implement the award of the arbitrator in the ICC arbitration
described above and the separation of the Accenture Member Firms from AW-SC and
AA.

    The MOU provided for the release to AA of $512,324 previously placed in
escrow, plus accumulated interest, and for payments to AA of $556,000,
including the payment for 2000 of $313,832 referred to above, the purchase by
APSC of intangible assets for $157,000 and a payment to AA of $85,000,
including settlement of all interfirm payables. In addition, pursuant to the
MOU, Accenture and AA entered into (1) a six-year services agreement under
which AA will provide certain services to Accenture for payments to AA of
$60,000 per year, (2) a five-year agreement under which AA will provide certain
training facilities to Accenture for payments to AA of $60,000 per year, and
(3) a five-year agreement under which Accenture will provide $22,500 per year
of certain services at no cost to AA; each agreement was effective January 1,
2001.

    Accenture recorded all elements of the MOU at fair value, and recorded the
excess of our contractual obligations over fair value as a reduction of
undistributed earnings because the related transactions were entered into in
connection with the separation of the Accenture member firms from AW-SC and AA.

    In addition, Accenture recorded an accrual of $190,962 equal to the excess
of the contractual obligations under the service agreements referred to above
over the fair value of the services to be

                                     F-30

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)

provided thereunder and recorded a reduction of undistributed earnings of
$268,781 for the accrual for the services contracts and other cash payments.
Payments due under the five-year and six-year services agreements will be based
upon rates established by AA that Accenture has determined will exceed the
rates that they charge for similar services to unrelated parties (the fair
value of those services). The excess of the present value of the amounts
payable to AA over the fair value of those services has been recorded as a
liability and a distribution to partners as of December 2000. Accenture is
obligated to provide AA up to $22,500 per year of services valued at then
current retail billing rates for five years. The present value of the fair
value of these services determined by reference to the fees usually received
for such services has been recorded as a liability and as a distribution to
partners as of December 2000. These liabilities, which aggregated $190,962, are
reported as distributions to partners because the liabilities were incurred in
connection with Accenture's separation from AA.

    At August 31, 2001, amounts due to/from AA/AW-SC and Accenture are no
longer classified as related party balances. Amounts due to/due from related
parties at August 31, 2001 are payable to/receivable from those individuals who
were partners of Accenture prior to May 31, 2001.

17.  COMMITMENTS AND CONTINGENCIES

    At August 31, 2001, Accenture or its present personnel had been named as a
defendant in various litigation matters involving present or former clients.
All of these are civil in nature. Based on the present status of these
litigation matters, the management of Accenture believes the liability will not
ultimately have a material effect on the results of operations or the financial
position and cash flows of Accenture.

18.  SEGMENT REPORTING

    Operating segments are defined as components of an enterprise about which
separate financial information is available that is evaluated regularly by the
chief operating decision maker, or decision making group, in deciding how to
allocate resources and in assessing performance.

    Accenture's chief operating decision maker is the Chief Executive Officer.
The operating segments are managed separately because each operating segment
represents a strategic business unit that serves different markets. The
reportable operating segments are the five operating groups (formerly known as
market units), which are Communications & High Tech, Financial Services,
Government, Products and Resources.

    In the first quarter of fiscal 2002, Accenture made certain changes in the
format of information presented to the Chief Executive Officer. The most
significant of these changes was the elimination of interest expense from the
five operating groups' operating income and the elimination of interest credit
from Other's operating income. Also, the consolidated affiliated companies'
revenue and operating income (loss) results are included in the five operating
groups' results rather than being reported in Other. Segment results for all
periods presented have been revised to reflect these changes.

                                     F-31

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Reportable Segments

<TABLE>
<CAPTION>
                                Comm. &
         Year ended              High     Financial
       August 31, 1999           Tech     Services   Government  Products  Resources    Other       Total
       ---------------         ---------- ---------- ---------- ---------- ---------- ---------  -----------
<S>                            <C>        <C>        <C>        <C>        <C>        <C>        <C>
Revenues before reimbursements $2,498,460 $2,736,416 $  777,028 $1,699,066 $1,812,369 $  26,517  $ 9,549,856
Depreciation(1)...............     59,745     67,459     18,285     31,651     39,892        --      217,032
Operating income (loss).......    557,169    824,206    102,733    263,360    285,196      (970)   2,031,694
                               ========== ========== ========== ========== ========== =========  ===========
Assets at August 31(2)........ $  368,414 $  227,894 $  141,795 $  154,383 $  169,884 $  20,750  $ 1,083,120

                                Comm. &
         Year ended              High     Financial
       August 31, 2000           Tech     Services   Government  Products  Resources    Other       Total
       ---------------         ---------- ---------- ---------- ---------- ---------- ---------  -----------
Revenues before reimbursements $2,806,506 $2,541,900 $  796,862 $1,932,302 $1,660,868 $  13,647  $ 9,752,085
Depreciation(1)...............     65,425     62,633     19,005     43,805     46,210        --      237,078
Operating income (loss).......    671,111    666,620     79,618    416,053    264,070   (11,353)   2,086,119
                               ========== ========== ========== ========== ========== =========  ===========
Assets at August 31(2)........ $  492,220 $  302,138 $  123,933 $  188,252 $  178,750 $   6,418  $ 1,291,711

                                Comm. &
         Year ended              High     Financial
       August 31, 2001           Tech     Services   Government  Products  Resources    Other       Total
       ---------------         ---------- ---------- ---------- ---------- ---------- ---------  -----------
Revenues before reimbursements $3,238,256 $2,893,567 $1,003,235 $2,356,440 $1,933,225 $  18,997  $11,443,720
Depreciation(1)...............     76,901     65,897     21,053     45,316     47,905        --      257,072
Operating income (loss).......    448,452    536,783     75,292    363,085    235,126  (962,982)     695,756
                               ========== ========== ========== ========== ========== =========  ===========
Assets at August 31(2)........ $  500,762 $  325,641 $  161,584 $  219,486 $  258,146 $  17,523  $ 1,483,142
</TABLE>
--------
(1) This amount includes depreciation on property and equipment controlled by
    each operating segment as well as an allocation for depreciation on
    property and equipment they do not directly control.
(2) Operating segment assets directly attributed to an operating segment and
    provided to the chief operating decision maker include Receivables from
    clients, Unbilled services, Deferred revenue and a portion of Other
    long-term assets that represent balances for clients with extended payment
    terms.

                                     F-32

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


Geographic Information

<TABLE>
<CAPTION>
 Fiscal 1999                     Americas     EMEA    Asia Pacific    Total
 -----------                    ---------- ---------- ------------ -----------
 <S>                            <C>        <C>        <C>          <C>
 Revenues before reimbursements $5,157,027 $3,697,236   $695,593   $ 9,549,856
 Reimbursements................    856,389    388,813     80,914     1,326,116
 Revenues......................  6,013,416  4,086,049    776,507    10,875,972
 Long lived assets at August 31    446,089    169,053     43,575       658,717

 Fiscal 2000                     Americas     EMEA    Asia Pacific    Total
 -----------                    ---------- ---------- ------------ -----------
 Revenues before reimbursements $5,223,120 $3,713,818   $815,147   $ 9,752,085
 Reimbursements................    964,758    506,068    107,773     1,578,599
 Revenues......................  6,187,878  4,219,886    922,920    11,330,684
 Long lived assets at August 31    500,133    158,184     47,191       705,508

 Fiscal 2001                     Americas     EMEA    Asia Pacific    Total
 -----------                    ---------- ---------- ------------ -----------
 Revenues before reimbursements $6,112,986 $4,484,075   $846,659   $11,443,720
 Reimbursements................    987,947    516,567    113,638     1,618,152
 Revenues......................  7,100,933  5,000,642    960,297    13,061,872
 Long lived assets at August 31    567,987    199,296     55,035       822,318
</TABLE>

EMEA includes Europe, Middle East and Africa

    Revenues are attributed to geographic areas based on where client services
are supervised. Reimbursements shown for 1999, 2000 and 2001 have been reduced
for certain intercompany transactions that had not been eliminated in
previously reported reimbursements. Previously reported 1999 Americas, EMEA and
Asia/Pacific Reimbursements have been decreased (increased) by $6,340, $198,302
and $(1,215) respectively. Previously reported 2000 Americas, EMEA and
Asia/Pacific Reimbursements have been reduced by $26,981, $182,209 and $76,
respectively. Previously reported 2001 Americas, EMEA and Asia/Pacific
Reimbursements have been decreased (increased) by $36,932, $249,698 and $(630),
respectively. Certain additional changes have been made to the previously
reported amounts to conform to the 2002 presentation.

                                     F-33

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


19.  ACCENTURE SCA

    Because Accenture Ltd's only business is to hold its equity interest in
Accenture SCA and to act as the sole general partner of Accenture SCA, there
are no material differences between the consolidated financial statements of
Accenture Ltd and consolidated financial statements that would be prepared for
Accenture SCA except (1) the minority interest included in Accenture SCA
consolidated financial statements would be limited to the Accenture Canada
Holdings Inc. exchangeable shares and (2) the shareholders' equity section of
an Accenture SCA consolidated balance sheet would reflect the Accenture SCA
Class I common shares and the Accenture SCA Class II common shares, as shown
below.

<TABLE>
<CAPTION>
                                         For the year ended August 31, 2001
                                      ----------------------------------------
                                      Accenture Ltd,
                                       as reported   Adjustments Accenture SCA
                                      -------------- ----------- -------------
  <S>                                 <C>            <C>         <C>
  Revenues...........................  $13,061,872    $      --   $13,061,872
  Operating income...................      695,756           --       695,756
  Income before taxes................      794,857           --       794,857
  Income before minority interest and
    accounting change................      292,241           --       292,241
  Minority interest..................      577,188     (569,248)        7,940
  Income before accounting change....      869,429     (569,248)      300,181
  Net income.........................  $ 1,057,403    $(569,248)  $   488,155
</TABLE>

<TABLE>
<CAPTION>
                                                      August 31, 2001
                                           -------------------------------------
                                           Accenture Ltd,             Accenture
                                            as reported   Adjustments    SCA
                                           -------------- ----------- ----------
<S>                                        <C>            <C>         <C>
Current assets............................   $4,579,637    $      --  $4,579,637
Non-current assets........................    1,481,719           --   1,481,719
                                            -----------    ---------  ----------
Total assets..............................   $6,061,356           --  $6,061,356
                                            ===========    =========  ==========
Current liabilities.......................   $4,178,820           --  $4,178,820
Non-current liabilities...................    1,192,422           --   1,192,422
Minority interest.........................      407,926     (402,336)      5,590
Shareholders' equity......................      282,188      402,336     684,524
                                            -----------    ---------  ----------
Total liabilities and shareholders' equity   $6,061,356    $      --  $6,061,356
                                            -----------    ---------  ----------
</TABLE>

                                     F-34

<PAGE>

                                 ACCENTURE LTD

     NOTES TO COMBINED AND CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
               (In thousands of U.S. dollars except share data)


20.  QUARTERLY DATA (unaudited)

    Quarterly financial information for 2000 and 2001 is as follows:

<TABLE>
<CAPTION>
                                     First     Second       Third      Fourth
                                    Quarter    Quarter     Quarter     Quarter      Annual
                                  ----------- ---------- ----------  ----------  -----------
<S>                               <C>         <C>        <C>         <C>         <C>
Fiscal 2000

Revenues before reimbursements...  $2,411,793 $2,272,770 $2,560,487  $2,507,035  $ 9,752,085
Reimbursements(1)................     313,465    374,206    432,548     458,380    1,578,599
Revenues.........................   2,725,258  2,646,976  2,993,035   2,965,415   11,330,684
Operating income.................     539,150    424,373    694,662     427,934    2,086,119
Partnership income before partner
  distributions..................     573,524    571,907    902,436     416,027    2,463,894

Fiscal 2001

Revenues before reimbursements...  $2,831,298 $2,881,698 $2,953,289  $2,777,435  $11,443,720
Reimbursements(1)................     377,714    409,213    458,403     372,822    1,618,152
Revenues.........................   3,209,012  3,290,911  3,411,692   3,150,257   13,061,872
Operating income (loss)..........     839,403    522,698    115,572    (781,917)     695,756
Income (loss) before accounting
  change.........................   1,010,467    419,539   (190,795)   (369,782)     869,429
Partnership income (loss) before
  partner distributions..........   1,198,441    419,539   (190,795)               1,427,185
Net income (loss)................                                      (369,782)    (369,782)
Earnings (loss) per share:
    Basic and diluted(2).........         n/a        n/a        n/a       (1.25)         n/a
Common stock prices per share:
    High.........................         n/a        n/a        n/a       15.50          n/a
    Low..........................         n/a        n/a        n/a       14.05          n/a
</TABLE>
--------
n/a = not applicable
(1) Reimbursements have been reduced for certain intercompany transactions that
    had not been eliminated in previously reported Reimbursements. Previously
    reported quarterly reimbursements have been reduced by $50,190, $61,650,
    $68,657 and $28,769, respectively, in the first, second, third and fourth
    quarters of 2000. Previously reported quarterly Reimbursements have been
    reduced by $29,280, $93,148, $107,572 and $56,000, respectively, in the
    first, second, third and fourth quarters of 2001.
(2) Certain common share equivalents have been excluded from the earnings
    (loss)-per-share calculation as their effect is antidilutive. In addition,
    for the purpose of the above calculation of earnings (loss)-per-share, the
    weighted average number of shares is based upon the periods the shares have
    been outstanding. The weighted average basic shares were 295,392,338 and
    the diluted shares were 899,711,420.

                                     F-35

<PAGE>

                                  SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf on October
30, 2002 by the undersigned, thereunto duly authorized.

                                              ACCENTURE LTD

                                              By: /s/  Harry L. You
                                                  ------------------------------
                                                  Name: Harry L. You
                                                  Title: Chief Financial Officer

                                      S-1

<PAGE>

                     CHIEF EXECUTIVE OFFICER CERTIFICATION

    I, Joe W. Forehand, Chief Executive Officer and Chairman of the Board of
Accenture Ltd, certify that:

        1.  I have reviewed this Annual Report on Form 10-K/A of Accenture Ltd
    (the "Registrant");

        2.  Based on my knowledge, this annual report does not contain any
    untrue statement of a material fact or omit to state a material fact
    necessary to make the statements made, in light of the circumstances under
    which such statements were made, not misleading with respect to the period
    covered by this annual report;

        3.  Based on my knowledge, the financial statements, and other
    financial information included in this annual report, fairly present in all
    material respects the financial condition, results of operations and cash
    flows of the Registrant as of, and for, the periods presented in this
    annual report.

Dated: October 30, 2002

/s/  JOE W. FOREHAND
----------------------------------
Chief Executive Officer and Chairman of the Board
  (principal executive officer)

                                      S-2

<PAGE>

                     CHIEF FINANCIAL OFFICER CERTIFICATION

    I, Harry L. You, Chief Financial Officer of Accenture Ltd, certify that:

        1.  I have reviewed this Annual Report on Form 10-K/A of Accenture Ltd
    (the "Registrant");

        2.  Based on my knowledge, this annual report does not contain any
    untrue statement of a material fact or omit to state a material fact
    necessary to make the statements made, in light of the circumstances under
    which such statements were made, not misleading with respect to the period
    covered by this annual report;

        3.  Based on my knowledge, the financial statements, and other
    financial information included in this annual report, fairly present in all
    material respects the financial condition, results of operations and cash
    flows of the Registrant as of, and for, the periods presented in this
    annual report.

Dated: October  30, 2002

/S/  HARRY L. YOU
----------------------------------
Chief Financial Officer
  (principal financial and accounting officer)

                                      S-3