When accounting goes unaccounted for
Looking to buy PwC Global Chairman Bob Moritz a gift for the holidays? We have two ideas for you from eBay:
Here’s what the stamps look like:
Both the signed Bebe photo and the PwC book of stamps can be yours for $60 each.
Related article:
#TBT: That Time When PwC Global Chairman Bob Moritz Took a Pic with Bebe Rexha
Why do I feel like this screenshot is going to end up on r/thanksimcured? Now […]
Man, PwC is on a tear this week. Along with the announcement of the three-peat yesterday for the Training 125, the firm also rolled out its press release on the upcoming Academy Awards.
The firm is proudly counting the ballots for the 76th year in a row but this year there are ten best picture nominations and that’s a new wrinkle for the vote counters at P. Dubs.
Now we’re not going to insinuate anything like Slate did back in 2007 where they somehow made a superficial connection between scandals at PwC to their ability to count ballots. That’s just foolhardy and we wouldn’t entertain such a notion here.
Quite the contrary, this should be the biggest slam dunk engagement that PwC has. Sure there are some archaic mechanical issues (e.g. the U.S. Mail) but at the end of the day they’re just counting ballots. The biggest risk that PwC faces is someone trying to rip their arms off with the briefcases still attached. Besides, we’re sure there is a security device on the briefcases that will destroy the entire contents if opened by anyone other than a PwC partner.
But we digress.
Back to the boilerplate press release, PwC drops all kinds of facts on us including that it takes ten total days (between the nominating and the final ballots) and approximately 1,700 “person-hours” for the team to count the ballots by hand.
This begs the question: could the Oscars be indirectly responsible for PwC being embroiled in the wage and hour lawsuits? Is our insatiable demand for red carpets and Brangelina driven the importance of this annual event beyond health care reform, financial regulation, and U.S. GAAP/IFRS convergence and thus, created the sweatshop engagement that is the counting of the Academy Award ballots?
This prestigious engagement may have its benefits (e.g. tuxedos, the opportunity for awkward sexual advances on celebrities) but at what cost, dear reader? What cost?
This time of year, many a capital market servants look forward to blowing off a little steam at the annual holiday (aka Christmaskuh, Festivus, et al.) party. Last year, the festivities made a comeback after a couple of years of more restrained celebrations. Ernst & Young’s New York office even threw a party at Cipriani’s the week Andrew Cuomo handed down his civil fraud lawsuit. And in case you’re skeptical that the get-drunk-dance-like-an-idiot-go-home-with-a-co-worker party have made a comeback, this post from Socialite may be the latest proof:
Want to talk about “work hard, play harder“? The auditors, tax specialists and consultants at PwC have got that down to a science!
2000 people + Marriott Coply+ open bar + gambling + dancing = Ballin’ time
We’ve been to some corporate Holiday parties in our day, but this one definitely takes the cake. And why wouldn’t it… we’re guessing they threw down well over $500K to host that.
Since we’re not hip to the costs of corporate holiday ragers these days, it wouldn’t be fair to dismiss this guesstimate outright. And it’s not exactly clear how Socialite got all these details but it sounds pretty similar to the KPMG Christmaskuh party I attended in 2008 (sans gambling) which was the waning days of the big holiday blowout party.
ANYWAY, Socialite then outlines a number of reasons that you, local Bostonian, should be at this shindig next year, including some “Secret Grand Prize Giveaway” which they speculate is “a small yacht” but in reality, it’s more likely to be a pair of cool shoes.
For any mini BoMos in Boston, does this sound like the party you went to? Is $500k in the ballpark or would you put it in the seven figure range? Feel free to speculate at this time. And if your party tops this one, email us the details (or an invite).