More rumors out of KPMG today as the audit practice in New York will be ramping up to 50 hour weeks approaching October. Apparently the extra 32 hours for the entire month that was originally required will not suffice.
This follows a similar request put out to the Klynveldians on the left coast. Unless you’re a football fan or trying to observe religious holidays, this doesn’t strike us as much of a problem.

The dynamics at both the PCAOB and the Big Four are horrible. The incentive at the Big Four is to keep prices down to the point at which it’s impossible for a new entrant to break into their charmed group; after all, if it means they end up cutting corners, the worst that happens is that they get gummed by the toothless PCAOB. [