Accounting News Roundup: Hiring Unqualified Entry-Level Accountants; KPMG Houston’s New Boss; People Worry About Tax Reform | 08.27.15

Accounting Workers Confident about Finding New Jobs [AT]
Yes, it's a buyer's market out there for accounting jobs:

Sixty-two percent of finance and accounting workers said they are confident about their ability to find a new job, while 78 percent believe it is unlikely they will lose their jobs over the next 12 months, according to a new survey.

And less than 10 percent "are not confident about their ability to find a new job." This sounds like more bad news for small firms who can't find the people they need and it's gotten worse for anyone looking for entry level hires:

It is becoming increasingly more difficult to find entry-level candidates with the necessary skills to operate today’s complex information systems and data-analytics tools.

A recent report from the Institute of Management Accountants, which surveyed professionals working in the finance and HR/recruitment functions, revealed large gaps between competencies that organizations need to succeed and those that entry-level finance and accounting candidates actually possess.

According to the report, half of the survey participants say they experiencing increased time to fill entry-level positions and nearly one-third are hiring unqualified candidates.

There's a sure sign of desperation I wasn't sure existed: employers throwing in the towel and hiring candidates that don't have the necessary skills. Although I'm not sure how one is "unqualified" for an entry-level position, but my hunch is that they're saying, "Your auditing and tax knowledge is fine, but that's not the kind of work you'll do here."

Dewey & LeBoeuf Inflated Key Financial Metrics, Witness Says [WSJ]
Alvarez & Marsal's Jonathan Vanderveen testified that from 2008 to 2012, Dewey's net income "was allegedly adjusted upward by as much as 10% each year and its net assets in those years boosted by as much as 1,040%."

KPMG's top Houston leader to retire, successor named [HBJ]
Tandra Jackson succeeds Bud Giesinger and interestingly, all the Big 4 Houston offices now have female leaders:

Jackson's new role means the Big Four accounting firms will all have a female serving as the top exec in Houston for the first time. She joins EY's Deborah Byers, PwC's Niloufar Molavi and Deloitte's Anne Taylor.

I mean, Houston! We didn't see that coming.

Tax Reform Gridlock Weighs on CFOs [CFO]
I'll go so far to say when you consider that no progress will ever be made, worries disappear!

Reuters Employees Bombarded With Reply-All Email Catastrophe [CMO Today/WSJ]
This recalls the great PwC Reply Allpocalypse from 2011. Never forget!
 

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