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February 2, 2023

Accounting News Roundup: Drama-free Oscars for PwC and An Accountants-for-Hire Startup | 03.05.18

Backstage with Faye Dunaway, Warren Beatty and this year’s PwC accountant before Oscars best picture redo [LAT]
Congratulations to PwC for not stealing the show this year:

Once Beatty and Dunaway took the stage and began their presentation, one of the PwC accountants who replaced last year’s wrong-envelope accountants watched the monitor closely as “Shape of Water” was announced, shaking her head in the affirmative.

“Awesome, awesome show,” the stage manager said, embracing her as she let out a huge sigh of relief.

Elsewhere: The Academy Awards Scandal That First Got PwC Its Job Counting Oscars Votes

Taking on the Big 4 accounting giants, Paro receives $5m for its labor marketplace for financial professionals [TechCrunch]
Chicago-based Paro runs a platform that “allows companies to hire vetted financial professionals.” CEO and co-founder Michael Burdick, a Deloitte alum, described “the ridiculous economics of accounting firms”:

“I was pouring my blood, sweat, and tears into my client engagements,” he explained, but discovered through an engagement budget that “I was getting billed out at $250 plus per hour and my take home was around $30 per hour.” That difference astonished him. “It’s both impressive and infuriating as to the margins that accounting / consulting firms make on their front line staff,” he said.

Equifax breach could be most costly in corporate history [Reuters]
Total costs could be “well over $600 million” according to one expert, and somehow that doesn’t seem like all that much.

Previously, on Going Concern…

Jason Bramwell interviewed two of FloQast’s co-founders, Mike Whitmire and Chris Sluty, who started their careers in public accounting (EY and Rothstein Kass).

Grant Hutchinson had advice for remote accountants who may be feeling isolated.

In Open Items, “My accounting career has been a total disaster and I don’t know what to do.”

In other news:

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