From the mailbag:
I work at GT as an associate in [a Southwest] office. Partner called to tell me i got a 1k bump to salary. It appears that GT is giving out raises in December. They are calling them market adjustments…
There seems to be confusion as to whether this is a bonus, lump sum raise, or spread out over the year. My partner told me it’ll be spread out over the year and it was a permanent raise. Others have been told it is a lump sum bonus. The new A1’s found out yesterday their starting pay was increased. I’ve talked with seniors and none of them have heard anything I know about, and they seem pretty pissed at the whole situation.
Are SAs getting blanked? Is this happening anywhere else? Inform everyone below or email us if you know the scoop.
A new survey of more than 300 chief audit executives (CAEs) by Grant Thornton LLP finds that while nearly half believe that the shifting regulatory landscape poses the greatest threat to their company, a vast majority (88%) do not believe that the Sarbanes-Oxley Act (SOX) should be repealed. Of those that believe SOX should be repealed, the cost of compliance is the main reason for doing so. “Since the passage of SOX, organizations have had to dedicate significant resources to comply with a host of new laws and regulations,” noted Warren Stippich, a Chicago-based partner and Grant Thornton’s national Governance, Risk and Compliance solution leader. “Based on discussions with various CAEs during the survey process, many believe that SOX brings a continued focus by management on financial and governance-related controls. However, CAEs believe that compliance audit processes are now well-defined and are currently exploring ways to contribute value creation to the organization well beyond compliance monitoring and reporting.” [
