January 14, 2022

Firms

quitting public accounting

A Field Guide to Quitting a Job in Public Accounting

That is the look of a man who no longer bears the yoke of a Big 4 job. Are you fantasizing about quitting your public accounting job? It’s finally March. Busy season will start to wind down soon and those miserable hours will begin to taper off. You may catch yourself daydreaming about finding another […]

integrate remote workers

How to Be Part of the Team, Even When Working Remotely

Does remote working make you feel like a faceless drone, beaming work from a distant planet across satellites to unseen robotic clients? Cloud accounting doesn’t have to look like this. In fact, it can’t look like this if businesses want to stay competitive and ahead of the curve. As more companies begin to rely on […]

reverse mentoring public accounting

What to Do if You Find Yourself Reverse Mentoring a Public Accounting Partner

It’s no secret that public accounting churns and burns its employees. Burnout is a cost of doing business. The result is fewer people embark on the partner track and those who become partners plan on staying put. I’d say most of those partners are crossing their fingers that the gravy train keeps chugging along from […]

irs tax season problems

Tax Pros: IRS Would Appreciate It If You Didn’t Foist Your Pushy Clients On To Them

Americans are desperate for help with their tax returns. The majority of taxpayers would settle for a DeVry University dropout with precisely three credit hours of accounting courses under their belt if it meant they wouldn’t have to deal with taxes at all. Tax professionals, likewise, are overwhelmed. The clients they do have are pushy, […]

This Valentine’s Day, Get Something For That Lovable Yet Hopelessly Disorganized Accountant in Your Life

Valentine’s Day is upon us and that means accountants all across this great land are disappointing their beloveds with excuses like, “We have a deadline Thursday,” and “Remember, we both agreed that we wouldn’t buy into these Hallmark holidays,” and “The client needs me to stay late.” So if you’re unable to pull yourself away […]

tax returns prepare deadline

Insecure Overachievers Will Always Have a Place in Public Accounting

Does the endless stream of work make you want to cry sometimes? I know it is enough to make even diehard auditors buckle and break. Overwork is a hallmark of the accounting profession, and we all know it. But why? Surely if you factor in all of the international teams, we have plenty of people […]

cryptocurrency trading taxes

Cryptocurrency Traders Learning That Taxes Are a Thing

Here’s an amusing MarketWatch story by Shawn Langlois on how cryptocurrency traders, presumably having no concept of income, are all bent out of shape about the taxes they owe on their trading gains. The lead kvetcher, latex_man, posted a thread entitled “I just did my taxes and it turns out I lost almost everything” and […]

accountant tax return

An Open Letter to Anyone Thinking of Asking the Accountant in Their Life for Help on a Tax Return

Dear friend, There’s an accountant in your life. He or she may be a relative, acquaintance, or someone who foolishly answered your terrible icebreaker “So, what do you do for a living?” honestly. It dawned on you that tax season will soon be upon us. You have probably received documentation informing you that a precise […]

Exposure Drafts: You Can’t Run From the Billable Hour

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions and failed resolutions to editor@goingconcern.com and follow Greg Kyte on Twitter.

sexual harassment cpa accountant

Reminder, Creepy Accountants: Offering to Teach a Subordinate About Tax Returns Is Not an Opportunity to Get All Handsy

Here’s a story from November (yeah, I know, but it’s January 3rd) about a “68-year-old Manhattan accountant” who “lured his 23-year-old clerk to his home office by saying he wanted to teach her about income-tax returns — then claimed God wanted her to be his sexual plaything.” I don’t have to tell any of you […]

cpa prepare busy season tax cut jobs act

A CPA’s Incomplete 2018 Busy Season Prep To-Do List

Cut holiday vacation short to read the Tax Cuts and Jobs Act. Implement “Tax Cuts and Jobs Act” charge code. Cram 40 hours of CPE into 4 days. Stare at children to remember their faces. Document rationale for becoming a corporation. Refill Zoloft prescription. Write farewell emails to non-profit clients. Stock up on bubble wrap. […]

grant thornton uk ftse

Grant Thornton Gets Dinged for Giving Partners with Audit Quality Issues More Work

The Public Company Accounting Oversight Board has announced a big settlement with Grant Thornton over quality control violations and audit failures. The firm was censured and agreed to pay a $1.5 million civil penalty. The quality control violations related to the assignment of two Philadelphia-based partners to audits in 2013 when they had been cited […]

We Three Kings Of Orient Are, Bearing Noncash Cash Gifts of Less than $500, Therefore Don’t Have to File Form 8283

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

accounting firms 2018 worries

A Working List of Things Accounting Firms Will Be Fretting About in 2018

Disruption Change Disruptive change The pace of disruptive change Whether or not they’ve figured out the cloud Finding qualified talent Millennials Figuring out how to find qualified talent that aren’t millennials The inevitable cyberattack that will result in every client the firm has ever had filing a lawsuit Artificial intelligence making accountants obsolete through automation […]

pcaob-nominees-sec-jay-clayton

We Might Have New PCAOB Member Nominees Soon, Someday, Maybe

Just keeping it warm. Dave Michaels reports at The Wall Street Journal that SEC Chairman Jay Clayton’s preferred choice to lead the PCAOB is rumored to be the same person everyone thought it would be: SEC Chairman Jay Clayton wants William Duhnke to become the PCAOB’s next chairman, according to one of the people familiar […]

aicpa-weic-cpa-firm-gender-survey

The Number of Women Partners in Accounting Firms Is Still Abysmal

Earlier this month, the AICPA Women’s Initiatives Executive Committee (WIEC) issued its second CPA Firm Gender Study and its findings are not encouraging. The survey found that partnership on average remains overwhelmingly male. The current survey shows little change from studies done in years past, which have typically found less than one-quarter of the partnership […]

ED - Santa Gift Tax exclusion

Exposure Drafts: All I Want for Christmas Is the Maximum Allowed Under the Gift Tax Exclusion

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

Exposure Drafts: The Billable Hour Has Some Kinks

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

Exposure Drafts: Good Mentors, Bad Utilization

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

remote working

Embracing Remote Accountants Can Benefit Your Business

Remote working is on the rise. In 2016, 22% of American employees did at least some of their work from home. And for those with advanced degrees over the age of 25, the number is even higher—a full 43% reported working remotely at least some of the time. It may feel natural to some accounting […]

Exposure Drafts: Being #AuditorProud Means Not Having to Say, “I’ll be home for dinner.”

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com.

#auditorproud

#AuditorProud Day Hits the Trifecta

Has it been a year already? The third annual #AuditorProud Day is upon us and it’s building momentum. Last year, 115 countries participated posting over 14,000 tweets and 4,000 Instagram photos. Kiwis got into the act early: Happy #AuditorProud Day! Auditors instil trust and confidence & have indispensable role in capital market system #CAANZ @chartered_accts […]

auditorproud poem

A Poem for #AuditorProud Day

I am an auditor. I am proud. Say it with me nice and loud. I am an auditor. I am proud. I’m a proud auditor, no exceptions allowed. I audit all day, I audit all night. I am proud to audit with all my might. Sure we screw up now and then: Enron, WordCom, the […]

Exposure Drafts: Trust Me, I Have Professional Skepticism

Exposure Drafts appears every other Wednesday (or whenever, really). Send your accounting cartoon suggestions to editor@goingconcern.com.

grant thornton uk ftse

Grant Thornton Admits 39 New Partners and Principals

Who are the new Grant Thornton partners? Glad you asked. The firm announced them earlier today along with new principals and managing directors, as is customary for the Purple Rose of Chicago. If you like to parse these things out, then it breaks down as: 27 partners, 12 principals and 28 managing directors. In the […]

grant thornton compensation 2017

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2017)

By the sound of things, it’s time for us to open the gate on the Grant Thornton compensation thread. This is a little strange because, in years past, tips usually start rolling into our inbox in the last half of July. One message we received over the weekend, however, might explain the delay: Comp releasing […]

bdo kpmg deloitte zimbabwe

Here’s Your Open Thread for BDO Compensation Discussions (2017)

We’ve had a couple of requests for the BDO compensation thread, and the calendar is right, so we’re happy to oblige. One tipster that works in advisory told us “I just received an email from the partner saying to stop by his office” but added, “I don’t expect anything significant.” BDO hasn’t released its revenue […]

BDO new partners

BDO Admits 36 New Partners

Congratulations to the 36 very good boys and girls who can count themselves among the flock of BDO’s chosen ones. Okay, maybe that’s a touch extravagant for a BDO partner, but that does not diminish the achievement. This year’s class is a smidgen smaller compared to last year’s 39, but it’s still a large class […]

BDO new partners

Here’s Some BDO Partners Getting Pied in the Face

As far as good ol’ fashioned comedy bits go, a pie to the face still holds up well. It won’t get the biggest laugh, but it sure is satisfying to watch. Someone at BDO knew this and put it to work by incorporating it into their campaign to raise donations for National Red Nose Day. […]

accounting-who-wins-fight

Let’s Play a Game of ‘Who Would Win in a Fight’ Accounting Edition

As you may have heard, busy season is over for many miserable accountants across the country. If you failed to get that memo, it’s time to avert your eyes from that spreadsheet and get some sleep, you’re obviously brain-dead and completely disconnected from the real world. Sorry. Rather than wallow in busy season gone by, […]

BDO-auditor-AmTrust-informant-Harry-Markopolos

BDO Auditor Had Starring Role in ‘The Spy Who Bought Me Coffee’

The Wall Street Journal reported yesterday that BDO is at the center of a messy situation with one of its clients, thanks to a super slick auditor on the inside cruising the firm’s halls: The auditor at BDO USA LLP casually wandered around the accounting firm’s New York offices, striking up conversations with colleagues about […]

grant thornton compensation 2017

Grant Thornton Making Some Tweaks to Its Unlimited PTO Policy

Last time we checked on Grant Thornton’s unlimited PTO policy, we learned that it was having at least one desired effect: people were taking more time off. The median number of PTO days taken jumped from 17.4 to 19.1. However, the comments from that article suggested that things were getting a bit out of hand. […]

How’s Grant Thornton’s Unlimited Vacation Policy Been Working Out?

Last year, the only second-tier accounting firm not cool enough to go by its inititals, Grant Thornton, announced a new paid-time off policy that would allow its employees to take unlimited vacation. Although GT employees seemed happy with the idea, the move was met by skepticism here and elsewhere.

Grant Thornton Offers Unnecessary Reminder

#ElectionDay fact: Hillary Clinton and Donald Trump are two of the most unpopular candidates in history>> https://t.co/bjeXFC2rpV — Grant Thornton (@GrantThorntonUS) November 8, 2016 Thanks, GT.

Don’t Pretend That the Presence of Three Grant Thornton CEOs Had Nothing to Do With a Cubs Victory

The first Cubs World Series win at Wrigley Field in 71 years wasn't just going to happen. The three CEO's of Grant Thornton since 2001 at the World Series tonight! Go Cubs! pic.twitter.com/jhf2lVgDba — J. Michael McGuire (@mikemcguireCLT) October 31, 2016

Grant Thornton Admits 47 New Partners and Principals

Grant Thornton announced its new partner class yesterday and while this year's group was slightly smaller than last year's class of 50, it's still far larger from those in recent years. There were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Here's the newly […]

Grant Thornton CEO Does His Best Ferris Bueller Impression

Mike's just blowing off work to see a Cubs game: Our @mikemcguireCLT put on his #Cubs hat + took to the mound to throw out the first pitch. #LetsGo pic.twitter.com/kl0fPlFsyC — Grant Thornton LLP (@GrantThorntonUS) August 5, 2016 Ball? Strike? Wild pitch? If you were there, get in touch to let us know how he […]

Here’s Your Open Thread for BDO Compensation Discussions (2016)

BDO is a firm on a roll. Just last week they announced a third straight year of 20%+ growth in revenue to $1.29 billion. They admitted 39 new partners this year, the largest class since we began covering those promotions. They're snapping up firms left and right. Yep, everybody sounds pretty happy. Oh, who am […]

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2016)

Grant Thornton saves its compensation discussions for the dog days of summer. My hunch is that they like sharing disappointing news when people are feeling lethargic and unwilling to make too much of a fuss over a raise that barely keeps up with inflation.

Here’s Your Open Thread for RSM (fka McGladrey) Compensation Discussions (2016)

Early July is usually when compensation discussions start for the denizens of RSM, fka McGladrey, fka McGladrey & Pullen, fka RSM McGladrey (a division of H&R Block). Lo and behold, very early this morning, a tipster sent us a message: RSM comp thread? Partners begin communicating July 6th through 20th. Normally, we might wait awhile […]

BDO Admits 39 New Partners

Oh look, we have more new partner news. BDO actually made this announcement a few weeks ago, but no matter, the new partners officially got their stripes on July 1. The 2016 class of 39 marks the seventh straight year of growth. There were 30 new partners in 2015, 24 in 2014, 16 in '13, […]

Grant Thornton Hoping to Bring Soul-Crushing Disappointment to Charlotte Hornets With New Sponsorship

Grant Thornton recently became a multi-year sponsor of the Charlotte Hornets basketball team. The deal will afford them several perks including "leasing a suite at Time Warner Cable Arena, advertising courtside and putting the firm’s name on a private club near the home locker room." It's a great deal for GT; a sports franchise — […]

Wayne Berson Gets Four More Years as BDO CEO

BDO partners seem to like Wayne Berson well enough to let him keep his job a while longer: BDO USA, LLP, one of the nation’s leading professional service organizations, today announced that the firm’s partnership has re-elected Wayne Berson to a second four-year term as chief executive officer, effective November 1, 2016.  During the first […]

Grant Thornton: New Unlimited PTO Policy Not Designed to Get People to Take Less Vacation

As you've all heard by now, Grant Thornton will be launching an unlimited PTO policy starting November 1. The firm documented its employees' surprise to the move and it is surprising since less than 1% of companies offer unlimited vacation. Not only that, but the Purple Rose of Chicago will be the only major accounting […]

Don’t Forget, McGladrey Will Be RSM on Monday

Earlier this year, McGladrey announced that they would be dropping the "McGladrey" from their name and adding "RSM." The new initials goes official on Monday across the globe so I imagine many partners will fling soon-to-be-obsolete letterhead in their hearths this weekend, watching with a mixture of pain and longing as the paper turns to […]

Grant Thornton Demonstrates Its Instinct for Diversity in Its Paid Time-Off Video

Grant Thornton’s video announcing their unlimited paid time off policy was exceptional cinema. For starters, everyone in the video looks very uncomfortable — like they weren’t sure if they were giving feedback on company policy or making a sex tape with a tax manager. It’s also clear that the people who were ambushed in the […]

Grant Thornton’s Revenue Didn’t Take Time Off

The Purple Rose of Chicago earned $1.45 billion in the U.S., beating last year's haul of $1.35 bil. Judging by Mike McGuire's canned quote, everything is on the up and up: “Our financial results are a direct reflection of the value we’re providing to our clients,” said Mike McGuire, chief executive officer of Grant Thornton […]

Grant Thornton Should Pay Its People to Take Vacation

Grant Thornton is getting into the surprisingly generous benefits act, announcing that it will offer its employees unlimited time off starting in November. They even shot this video of their people's reactions to the news: Those people seem genuinely surprised. That's kinda nice. Few companies offer unlimited PTO; this Bloomberg report says fewer than 1% […]

BDO Shouldn’t Have Blown This Audit

This SEC Accounting and Auditing Enforcement Order against BDO will be the best thing you read today. That is, if you enjoy reading about audit firms issuing an unqualified opinion when they absolutely had no business issuing an unqualified opinion. That is the case with the story of BDO's 2009 audit of General Employment Enterprises, […]

Stephen Chipman Calling it a Career at Grant Thornton

Stephen Chipman, erstwhile CEO of Grant Thornton, blogger, romantic, inexperienced Chicagoan, incredibly unprepared Chicagoan, note writer, dynamic perpetual optimist etc. etc. is hanging it up after 34 years at the Purple Rose of Chicago:   Grant Thornton LLP announced that Stephen Chipman, senior vice chairman of Grant Thornton LLP, has elected to retire early from […]

Grant Thornton Admits 50 New Partners

Grant Thornton deified 50 new partners on August 1st, according to a firm press release. This year's class size dwarfs those from recent years; there were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Purple Rose of Chicago CEO Mike McGuire heaps on the […]

Judge Felt Compelled to Call Out Grant Thornton’s Extraordinarly Crappy Work

It's always amusing when a judge reprimands an accounting firm for sucking at its job. Usually it's due to some dumpster fire that auditors watched burn for too long, but today's bench slap came from a judge on Delaware's Court of Chancery in regards to some valuation work Grant Thornton performed: Vice Chancellor Travis Laster […]

Oops: Grant Thornton Lost an Audit Client Due to ‘Inadvertent Scope Creep’

Ahhhh, independence. The albatross around the neck of the audit profession. Or maybe that's the PCAOB. Or maybe it's the technology. Fuck, I don't know. If you imagine all the giant birds shitting on auditors, ugh, that's a horrific thought.

Here’s Your Open Thread for BDO Compensation Discussions (2015)

The accounting firm known as BDO is having a good 2015. It recently admitted 30 new partners, the largest class since GC's been covering the promotions. Revenues eclipsed the billion-dollar mark back in May, thanks to its insatiable hunger for boutique firms. Oh, and it keeps stickin' ex-CEO Denis Field with those massive legal bills. […]

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2015)

The last time we teased with talk of GT compensation, our tipster seemed impatient and harboring inflated expectations. Hopefully most of you McGuire Munchkins are either more patient or realistic about your comp news. Or perhpas you've adopted, "I don't care about money anymore," as your personal comp season motto. That'd be a fun surprise […]

Bonus Watch: Impatient Grant Thornton Employees with Big Expectations

This just in: Grant Thornton will pay out bonuses early this year (July 21). They will electronically disseminate salary and bonus information on July 14. All I'm saying is they better be good. Our tipster included an excerpt from an alleged message to the troops: At Grant Thornton, our people are talented, intellectually curious and […]

BDO Admits 30 New Partners

Effective July 1, 30 new partners will get a seat at BDO's adult table. This class is the largest since we've been covering the firm's partner promotions. There were 24 in 2014, 16 in '13, 15 in '12, 13 in '11, and 5 in '10. I count 7 women on this list and, oddly, everyone […]

Ex-BDO CEO’s Quest to Get Firm to Pony Up for His Legal Bills Not Going So Well

Former BDO CEO and Wolfpack leader Denis Field received some bad news in his quest to get BDO to pay his hefty legal bills: A panel unanimously affirmed rulings by Justices Saliann Scarpulla and Barbara Kapnick in Matter of Denis M. Field v. BDO USA, 600010/12, refusing to grant motions by Denis Field, former CEO of […]

Grant Thornton Poaches Someone From Deloitte and Issues a Press Release, Part I

Grant Thornton has put everyone on notice that they’ve snagged Deloitte National Managing Partner for U.S. Government Affairs & Public Policy Jim Brady. He will become GT’s Central Region Managing Partner effective August 1. Brady has had quite a career at Deloitte, serving in many similarly dynamic roles. Among them: National Audit Leader for Growth […]

Oh, Shut Up

Stay out of it, golfer. @McGladrey strengthens position as trusted advisor to middle market leaders globally – to rebrand as RSM in October!” — Davis Love III (@Love3d) June 11, 2015 [Earlier]

McGladrey Latest Accounting Firm to Say, “Screw It, Let’s Just Go By Our Initials”

Yesterday, McGladrey announced they would become RSM. It was an inevitable move for a firm that has had a brand identity crisis over the years.   McGladrey LLP today announced it will adopt RSM as a common brand name, uniting with fellow firms of its global network RSM International to further strengthen the organization's position as the […]

BDO Should Be Thanking Its Lucky Stars That Swisher Hygiene Fired Them

BDO, an audit firm, had a difference of opinion with Swisher Hygiene, Inc., a client, about the company's internal controls over financial reporting. Specifically, BDO identified 12 material weaknesses and 5 significant deficiencies. Contrast that with Swisher's analysis that found no material weaknesses and 1 significant deficiency. Also! BDO's audit opinion for for 2014 contained a going […]

Grant Thornton Has Starring Role in Marine Corps’s Snafu Audit

How's this for a Charlie Foxtrot: the professional services firm known as Grant Thornton (or, if you prefer, Golf Tango) is smack dab in the middle of the Pentagon's messy accounting. Reuters has the whole scoop but the long/short of it is this: last year the Defense Department announced that the Marine Corps "passed" its […]

BDO Excited to Join Billion-Dollar Firm Club

Hungry Hungry Hippo BDO is still gobbling up accounting firms. Its latest morsel is St. Louis-based Stone Carlie & Company and it will push Bravo Delta Oscar's revenues over $1 billion, according to CEO Wayne Berson: Stone Carlie earns between $13 million and $14 million in annual revenue. BDO ranked 7th on Accounting Today’s 2015 […]

Grant Thornton Not Gonna Let Some Rich Guy Drag Its Good Name Through the Mud and Get Away With It

You wanna get nuts? Come on, let's get nuts! Grant Thornton has filed a counter-claim against Vincent Tchenguiz for defamation after the property entrepreneur sued the accounting firm for £2.2bn and accused it of a conspiracy.  In documents filed at the London High Court on Tuesday, Grant Thornton denied Mr Tchenguiz’s claims and said it […]

Grant Thornton’s Hartford Office Will Need All the Comforts of Your Average Frat House

The modern office has changed. With companies like Google and Facebook throwing around perks like free sushi, bowling alleys, dog runs, a keg in every kitchen, full spa service, among other luxuries, businesses feel the need to keep up however they can.  Grant Thornton's Glastonbury office is currently shopping around space in Hartford and Frank Kurre, the […]

Grant Thornton Names New Big Cheese in Wisconsin

Don't have a cow. You won't have to learn a new name as Jeff Bradford succeedsJeff Robinson. Although if you suspect a Jeff nepotism in GT Dairyland, we wouldn't blame you. Incidentally, Bradford earned his Bachelor's and Master's at UT so if you suspect a Longhorn biaswithin GT, you can run with that, too. [MJS] 

Survey Says: Over Half of Small Businesses Don’t Work With an Accountant At All

Here's an interesting discovery from Xero: 53 percent of small businesses they surveyed "say they don’t work with an accountant at all." So not only are all firms the same, they're not crucial to fledgling businesses? Is this an opportunity or a barrier? Go.

UK Auditor Regulator Stops Short of Calling Grant Thornton Audits ‘God-Awful’

The PCAOB inspection report for Grant Thornton, while worse in susbtance, doesn't quite express the feelings of a regulator who expects a little more.  A report from the UK accountancy watchdog said it was “disappointed” to find that five of the eight Grant Thornton audits it reviewed required either improvements or significant improvements, a blow […]

When Is the Right Time to Start Your Own Accounting Firm?

Every once in awhile we like to discuss the prospect of accounting firm startups. That is, which of you will be the ones to strike out on your own or with a co-founder to build your own firm from scratch.   When we’ve discussed starting a new accounting firm in the past, many people admit […]

Ex-BDO Chairman Not About to Let His Former Firm Stick Him With Huge Legal Bills and Get Away With It

We thought we heard the last from former BDO chairman Denis Field when one "Jayne Field" emailed us demanding we "close the circle here" and report on the fact that Denis' 2011 conviction on conspiracy and tax-evasion charges was overturned in court at the end of 2013. In the interest of clearning his good name, […]

Those Who Know, Know BDO Got Their AS5 Kicked in Latest PCAOB Inspection Report

Another day, another PCAOB report. Today, our lucky victim is BDO USA, LLP. Of the 23 audits inspected, the PCAOB found deficiencies in 15 of them. For those of you playing along that home, that puts them at a 65% failure rate which means they are in the lead for crappiest audits in America of […]

Here’s The Real Reason Mid-Tier Firms Are Merger Mad

As we know, BDO and McGladrey have both been on a very busy acquisition streak lately. BDO picked up one of Ohio's biggest firms with SS&G and then grabbed UHY's Texas practice. McGladrey, meanwhile, gobbled up sub 100 firm Cole + Reed out of Oklahoma. We're talking apples and oranges when it comes to size, […]

BDO Fixin’ to Acquire UHY Texas

Following up its purchase of Ohio's SS&G, BDO announced today that it had reached agreement with UHY Advisors to execute….err…acquire its Texas Practice: The UHY Texas practice provides a broad range of financial and consulting services to a diversified client base with significant strength in the energy, manufacturing, distribution, professional services, healthcare and real estate […]

Spotted: Chevy Belonging to Grant Thornton Refugee or Peeing Calvin

There's also a chance that this is a picture of one of Craig Haber's old cars. Don't want to rule out any possibilities. 

Accounting Firm M&A Rumor Mill: Will BDO Acquire UHY Next?

It had been a while since we've heard a good M&A rumor so we were excited to get a tip last week about BDO acquiring UHY. Just this week, we've received another tip from a reliable source that BDO would be announcing its acquisition of UHY "very soon."  Then, unexpectedly, this morning we learned that […]

Grant Thornton to Have Rat Problem for Foreseeable Future

A little bad news for Grant Thornton today: The towering rat balloon—six to 25 feet tall, often dubbed “Scabby the Rat”—is a common and sometimes contentious sight. It’s a gimmick used most frequently by unions to protest employers, but the inflated rats have occasionally been used by unions to protest other unions and, in an […]

Grant Thornton Warns Alumni the Sky is Falling

We wish we could tell you why Grant Thornton sent out this email to their alumni list today, unfortunately we don't have any clue. Not even crazy speculation barely rooted in reality. Even our tipster, who presumably receives odd emails from Grant Thornton regularly as a member of the esteemed Grant Thornton alumni email list, […]

Grant Thornton’s Chosen Markets Netted the Firm Record-Breaking Revenue This Year

Not one to be left out of the "we made a metric shit ton of money this year, guys" party, Grant Thornton announced today the highest revenue in the firm's 90 year history. Considering a dollar could buy you a month's worth of groceries, a house, and a horse 90 years ago1, that's not saying […]

Let’s Play Spot the Spelling Error at Meet the Firms with Grant Thornton

This suspect was spotted at University of South Carolina: Wonder if GT is in the market for a proofreader?

Charlie Munger: EY Can’t Tell Its Ass From a Hole in the Ground

Back in June, Warren Buffett's BFF Charlie Munger canned EY, who were happily auditing his Daily Journal Corp, in favor of BDO. Now, we're sure this had absolutely nothing to do with the fact that EY expressed an adverse opinion on DJCO's internal controls when last these two ships passed in the night. And it […]

Which Big 4 Firm Audits the Most Large Accelerated Filers?

This is a question you've probably never asked yourself but now that you're here, you're dying to know. Our friends over at Audit Analytics broke it down and figured out not only which of the Big 4 audits the most large accelerated and accelerated filers but also how many of those filers are audited by […]

Grant Thornton’s Downtown NYC Office Still Has a Rat Problem

If Grant Thornton had any competitors, those competitors would be thrilled to see what's ongoing at Grant Thornton's downtown Manhattan office at 60 Broad. We wrote about the Teamsters' giant rat down there back in July but now we have photographic evidence. With bold print and underlining! Let's see what's going on: This makes us […]

Grant Thornton’s Interns Are Making Your Interns Look Bad

First, nourishing your body with food is totally overrated anyway. Second, seems like this is good practice for busy season, when you won't so much forget but be completely unable to unless you don't mind stale Twizzlers and team pizza lunch.   Our MVPs > MT @mfuadster: So focused on the Intern Case Comp that […]

Here’s Your Open Thread for BDO Compensation Discussions (2014)

Well, folks, it appears BDO pulled a fast one on us and changed up the game by coming out with compensation way ahead of schedule (for BDO, anyway). Numbers have been known to come out as late as September in the past, which meant we totally ignored this person who wrote us at the end […]

BDO Boasts Massive Revenue Growth in Fiscal 2014

Of course, there is an accompanying press release to go with the good news: BDO USA, LLP, one of the nation's leading professional service organizations, today announced revenue for the fiscal year ended June 30, 2014 was $833 million, a 22 percent increase from last year’s revenue of $683 million.  The firm's growth was achieved […]

Grant Thornton Picks Up a New Client in the Interest of Penny-Pinching

Perma-Fix Environmental Services, a "global provider of safe, compliant, and environmentally responsible nuclear services and radioactive waste management solutions," has swapped auditors, and gives quite the compelling reason for it in their 8-K filed with the SEC: On June 25, 2014, the Audit Committee of Perma-Fix Environmental Services, Inc. (the “Company”) approved the dismissal of […]

BDO Gets SALTy with Latest Acquisition

BDO today announced an expansion of its state and local tax practice (SALT) through the addition of 1 partner and 10 employees formerly with HoganTaylor, LLP.  Tom Smith, who will be joining BDO as a partner, will serve as the SALT Practice Leader for the firm's Southwest region.  These new resources – effective July 1 […]

Ex-BDO Vice Chairman Given 16 Months to Think About His Choices

Let this be a lesson to anyone considering joining up with a "rogue group" of tax-sheltering jerks at your firm, you've been warned: Former BDO Seidman LLP Vice Chairman Charles Bee’s cooperation with prosecutors in a $1 billion tax fraud probe didn’t spare him from prison, as a judge, citing the magnitude of the crime, […]

Promotion Watch ’14: BDO Admits 24 New Partners

This just in from the BDO camp, 24 new partners have been admitted to the partnership effective July 1st; seventeen in assurance, six in tax and one from the national office. “I want to welcome each of these highly accomplished individuals to the BDO USA partnership,” said Wayne Berson, CEO of BDO USA.  “As a […]

Grant Thornton Names Mike McGuire CEO-elect

Today: J. Michael McGuire named CEO-elect of Grant Thornton U.S. http://t.co/LEviUIJtDh pic.twitter.com/qfKWTBpp4f — Grant Thornton LLP (@GrantThorntonUS) June 2, 2014 Looks like Grant Thornton opted for something other than a Costanza lookalike for their next CEO. According to a Grant Thornton press release, JMM assumes the role of CEO-elect immediately and will take over for Stephen […]

McGladrey, Grant Thornton, BDO Will Break into Big 4 By 2019, Says Guy on Twitter

People say a lot of crazy things on Twitter. I know I have. But this guy just said the craziest:

McGladrey CEO: ‘Nah, bro. We’re cool right where we are.’

You need to go over to WSJ to read all about how BDO is aggressively gobbling up firms in order to get that much closer to the Big 4's backside. Here's a nibble: BDO, one of the midtier accounting firms below the Big Four, has been aggressively trying to grow faster under Chief Executive Wayne […]

Innocent Former BDO CEO Has a Bone to Pick With His Old Firm

If you aren't up on the no longer sordid tale of Denis Field, head here first and that'll get ya nice and caught up. Well now that Mr Field's legal troubles are behind him at last, he's going all wolf-like on his former firm. He doesn't want much, maybe just an "I'm sorry" and for […]

So BDO Isn’t That Good at Auditing Either, But Still Better Than Grant Thornton

Now this is just getting funny. And by funny I mean sad. The PCAOB has released its 2012 inspection report on BDO and the news isn't nearly as bad as it was for Grant Thornton so, well, there's that. Which really isn't much when you think about it but… hey… gotta take what you can […]

Say Hello to Some Dynamic Grant Thornton Winterns

Welcome Southeast region Winter Class of 2014 #Interns from schools ranging from Baltimore to Miami! pic.twitter.com/9Xr3nbmzwX — GrantThorntonCareers (@GTCareersUS) January 15, 2014 Why is this in black and white? Did GT blow its entire color budget on its sharp purple marketing materials? Oh whatever. Congrats, you kids!

Let’s Congratulate Grant Thornton For Its Dynamic and Record-Breaking Audit Failure Rate

Colin put this in ANR this morning but it's the kind of thing that deserves a post of its own just to make sure you don't miss it and mock appropriately: The Public Company Accounting Oversight Board gave a failing grade to Grant Thornton on 65 percent of audits inspected in 2012, the highest failure […]

Grant Thornton Employees Break Out Dynamic Christmas Sweaters for Holiday Party

You'd all do well to follow this example for your respective office parties this season: Successful @GrantThorntonUS #atlanta holiday party last night. Tacky sweaters and all. @mmangrum1126 @griffinehunt pic.twitter.com/ZoE3BqEbKF — Christian Hyatt (@christianhyatt) December 13, 2013 Okay, guy on the left — we see that you phoned it in by just opting for a Christmas […]

Let’s Talk About the Denis Field Tax Shelter Verdict Before We Get Any More Angry Emails

Alright, we have to admit we totally blew reporting this in a timely manner — or rather, I did, because it happened while Colin was off doing whatever it is he does when he isn't working. And someone named Jayne Field (coincidence?) made sure to let us know. In her first email, she sticks to […]

BDO CEO Moving Up in the World

Wayne Berson, only about a year into his new gig as BDO CEO, has been elected Chairman of the global board. That's pretty quick work! Wayne-o says he's looking forward to working "with BDO International CEO, Martin van Roekel, the Global Leadership Team and the rest of the Global Board on growing the BDO Network and […]