January 20, 2022

Big 4

PwC’s UK Head Kevin Ellis Is Unhappy—There Could Be Relief

How much concern do we feel for Kevin Ellis? He should sit pretty—senior partner of the UK firm of PwC, which in 2021 clocked up record global revenue of $45 billion. The average profit of his UK partners was a league-leading £868,000, and Ellis himself in 2020 took home a handsome £4.4 million. Instead, this week’s press attention […]

KPMG UK’s Piss-Poor Auditing Is Once Again Coming Back to Bite Them In the Ass

As the UK’s audit cops are kicking back and watching KPMGers throw each other under the bus and a former audit partner feign ignorance about documents being forged during a tribunal hearing on the clown show that was the firm’s auditing of Carillion, the Financial Reporting Council decided to give KPMG a small taste of […]

Scenes From the Candlelight Vigil In Honor of Deloitte Consulting Senior Manager Michelle Go

A candlelight vigil was held in Times Square last night in memory of Michelle Go, the 40-year-old Deloitte Consulting senior manager who was killed by a mentally ill homeless man last Saturday morning while waiting for a train inside the Times Square subway station. Here is a collection of photos and videos from last night’s […]

Compensation Watch ’21: PwC Employees Are Getting a 5% Bump In Pay (UPDATE)

[UPDATE] Now that PwCers got that sweet, sweet “Timmy Stimmy,” a mid-year raises thread was created on r/accounting, although there hasn’t been much action in it so far. The 5% raise nearly everyone got is reflected in a few posts, while a Senior 3 in Consulting Advisory Services mentioned getting the additional 10% adjustment (see […]

Audit Firms Are Making More Money Than Ever But Their Auditing Still Sucks, Says Guy

For today’s episode of “What Can We Rag on Big 4 Firms For” we’re going to dive into this article I came across this morning in Fair Observer, an independent outlet which I’ve never heard of but hey, any article that bashes Big 4 firms is OK in my book. Let’s be real, visiting Going […]

RIP Michelle Go, Deloitte Consulting Senior Manager Who Was Murdered In NYC Subway

I heard about this awful news over the weekend but didn’t realize until yesterday that the victim, 40-year-old Michelle Go, was part of our accounting stratosphere. The New York Times reported: On Saturday morning, Ms. Go left her apartment on the Upper West Side and was about to step onto a subway in Times Square […]

Deloitte Just Gave the Malaysian Government Several Wheelbarrows Full of Ringgit (UPDATE: KPMG Pays Up Too)

[Updated article originally posted on June 3, 2021 with additional information about KPMG settlement.] From the Ministry of Finance in Malaysia on June 3: The Government has received a settlement payment of RM336 million (US $80 million) related to 1Malaysia Development Bhd (1MDB) from Deloitte PLT. In a statement today, the Ministry of Finance (MoF) […]

KPMG UK Already Gearing Up For Massive Punishment Over Carillion Audit Failures

“It is of course for the tribunal to reach a conclusion on the allegations as they relate to the individuals concerned. Nevertheless, it is clear to me that misconduct has occurred and that our regulator was misled. The misconduct that this tribunal will hear about over the coming weeks is disturbing and upsetting for me […]

EY Poaches Someone From KPMG and Issues a Press Release, Parts IV, V, and VI

EY-Parthenon recently lured three people away from the Queen’s KPMG, two of whom were added to the partnership and one hired as a director. Akif Jawaid joined EY-Parthenon in the UK as a partner on EY-P’s private equity team. He previously was a partner and global head of private equity (Strategy Group) and the UK […]

Report: PwC and Deloitte Among Companies That Have Continued to Make Political Donations to Republican Lawmakers Who Voted to Overturn Presidential Election

Shortly after the riot at the U.S. Capitol last Jan. 6, the Big 4 each put out statements saying they were either suspending all political contributions or suspending PAC funding to the 147 Republican members of Congress who voted to overturn the presidential election results. It was a move, they said, to “facilitate a smooth […]

New Clemson Athletic Director Is An Ex-Green Dotter

This is not your typical “life after Big 4” career move, but Graham Neff will likely make more money as the new director of athletics at Clemson University than he would had he ended up staying at Deloitte. Sports Illustrated reported: Before Clemson, Neff served two-plus years in several senior administrative roles at Middle Tennessee […]

What’s Up With Deloitters and the LinkedIn Cult Mentality?

The hashtag-laden digital fellatio of professional services firms continues. OK, first of all… no, you know what, never mind. I’m recalling something my mother told me once 33 years ago about not having anything nice to say. Who exactly was this for? Did he pass it to his manager on his last day? Will it […]

How Much Is An EY Shirt Selling For At TJ Maxx These Days?

About as much as a first-year at EY makes an hour during peak busy season. Related article: How Much Do You Think a KPMG T-Shirt Costs at Goodwill These Days?

Latest Accounting Overachiever Comes From PwC

From CyprusMail: Demos Ioannou, a trainee accountant of PwC Cyprus, achieved the highest world score in the ICAEW [Institute of Chartered Accountants in England and Wales] exams that took place in November 2021. More specifically, Ioannou achieved first place worldwide in the subject of “Strategic Business Management” and was awarded the Walton Prize. PwC trainee […]

Guy Sues KPMG Over Getting Left Out of the Team Group Chat

Greg Eldridge — an eight-year vet of the House of Klynveld — has sued KPMG Australia over what he alleges was a critical level of cold-shouldering from his people, seeking monetary damages for what he says was a failure of the firm to address an unruly colleague who never liked him. An exceptionally boring Deal […]

A Few EY Partners Didn’t Get the Auditor Independence Rules Right

The SEC on Dec. 10 decided that two EY partners and one principal didn’t take the auditor independence rules seriously and doled out a few fines and sanctions. And like many of these auditor independence violations that get firms in hot water with the SEC or the PCAOB, the flagrant rules bending by EY had […]

Compensation Watch ’21: Deloitte Puts Mid-Year Raises On the Table (NEW UPDATE)

[Updated on Dec. 14 with market adjustment message to employees, additional raise percentages.] Mid-year raises are definitely rolling out at Deloitte now that a comp thread has been created on Reddit. To recap, in late September, Deloitte CEO Joe Ucuzoglu told staff in an email (scroll down for the full text of Joe U.’s email) […]

The Queen’s PwC Tells Staff to Come Into the Office Should They Have Literally Nothing Better to Do on Christmas

PwC UK published an advertisement article in The Telegraph last week and we found it so moving that we felt compelled to share it all with you post haste. The letter — penned by PwC UK chairman Kevin Ellis — begins as all corporate letters must since our first COVID Christmas last year: with a […]

PwC Poaches Someone From EY and Issues a Press Release, Parts IV and V

There has been some crazy poaching news recently—no, not in the Big 4 but in college football. USC poached Lincoln Riley from the University of Oklahoma to be its next head coach, which was then followed by Brian Kelly bolting Notre Dame for the SEC (no, not that SEC) to become LSU’s new coach and […]

KPMG Rocks signs held by a woman in a KPMG shirt

KPMG Got Dibs On Being the Big 4 Firm With the Biggest Year-Over-Year Revenue Increase In FY 2021

The last of the Big 4 firms to release its global revenue results for fiscal year 2021 did so last night, as KPMG posted $32.1 billion, an increase of 10% over its 2020 revenue of $29.2 billion. Things could only get better for the House of Klynveld in 2021, as KPMG was the only Big […]

Australian Senator Understands Big 4 Working Conditions Better Than a PwC Partner

“I’m not talking about billing hours, actual hours of work were 80 to 120 hours. There were people that were substantially underpaid. Wouldn’t you call that a sweatshop?” — Tony Sheldon, Labor senator and former union boss, asked PwC Australia partner Catherine Walsh during a Senate hearing on job security Dec. 8. Walsh was there […]

KPMG Director’s Thoughts On Firm’s ‘Unethical’ Vaccine Policy Will Be Loved By Some and Hated By Others

Once Pfizer, Moderna, and Johnson & Johnson began rolling out their COVID-19 vaccines in the US, unless you had your head in the sand for the past four or five years, you just knew people would take sides on whether or not to get the jab—for whatever reason. And that has certainly been the case. […]

Wanna Know What New PwC Employees Get These Days In Their Welcome Package?

This new PwCer shows you in a video posted to YouTube last month—and drags out his or her swag unpacking for nearly three minutes. Newbie. This person obviously didn’t know all PwCers have to tag everything PwC-related on social media with #PwCProud.

With Omicron Threatening to Send Everyone Back Inside, KPMG UK Reminds Audit Staff to Get Back to the Office

Alright so we’re sourcing this one from Reddit which, yeah, I know but since the bulk of our sources are on this side of the pond, it’s the best place to find international Big 4 news other than obscure local papers or from unmemorable African newspapers. A screenshot of an email sent out by KPMG […]

KPMG Poaches Someone From EY and Issues a Press Release, Part VIII

Just like our waistlines over Thanksgiving weekend, the tax practice at the Queen’s KPMG got larger earlier this month with the addition of three new partners. Candice Nichol, a tax lawyer with 14 years of experience, joined KPMG as a deal advisory tax partner in London from international law firm Simmons & Simmons, while Justin […]

a remote highway and mountains

EY Global Chairman Carmine Di Sibio Warns Zoomers Their Careers Are Screwed If They Stick to Remote Work

EY Global Chairman Carmine Di Sibio wrote a piece for Quartz recently on how young professionals can navigate today’s hybrid work environment (well, his communications team did anyway) and we found a few bits particularly noteworthy for early-career accountants eager to get ahead in today’s, uh, interesting work environment. You might want to grab a […]

YouTube icon on a phone screen

KPMG Norway Has Achieved the Impossible And Created a Mildly Amusing Video (For an Accounting Firm)

KPMG couldn’t audit their way out of a paper bag but some props are due for proving themselves capable of making a mildly entertaining two-minute YouTube video which we’re about to share with you momentarily. The last time we caught KPMG embarrassing themselves on YouTube, it was this unspeakable disaster from KPMG Denmark and things […]

Head of UK’s Audit Cops Says Out Loud What We Were All Thinking About the Big 4

“If you were the head of audit at one of the Big Four and you read this document, you’d be thinking ‘I think those are the things I’m [already] trying to do.’ The problem, as far as we’re concerned, is they don’t really do it.” — Sir Jon Thompson, chief executive of the Financial Reporting […]

Just Think, An EY UK Partner Was Allowed to Keep His Job After (Allegedly) Telling a Female Co-Worker This (UPDATE)

[UPDATE] Neil Hutt quit or was forced to resign or whatever. Point is, he no longer works at EY in the UK. From the The Times of London on Nov. 13: EY, the Big Four accountancy group, has accepted the resignation of one of its partners, who told a female trainee “I’m going to f*** […]

Big 4 Item of the Week on eBay: Deloitte Haskins & Sells Luggage ID Tag

Now that air travel is starting to open up again for those of you in public accounting (I know, it’s mostly client and project dependent at this point), this week’s Big 4 Item of the Week on eBay is a must-have for all you longtime Deloitters. You’ll be the envy of your fellow business travelers […]

EY Poaches Someone From PwC and Issues a Press Release, Part VII

Rebecca Rennison recently entered the Big 4 transfer portal as a director at PwC UK and exited as a partner at EY. EY recently announced Rennison and Richard Pulford as its most recent senior hires in the firm’s Manchester corporate finance team, according to Insider Media: Rebecca Rennison also joins EY with more than 20 […]

Big 4 Item of the Week on eBay: PwC Stamps

Looking to buy PwC Global Chairman Bob Moritz a gift for the holidays? We have two ideas for you from eBay: An autographed 8-inch by 10-inch photo of Bebe Rexha because BoMo is apparently a big fan. A full sheet of stamps from 2005 commemorating PwC’s 85th year in Uruguay. Here’s what the stamps look […]

You Know the World Is Getting Back to Normal When KPMG Has the Worst PCAOB Inspection Report of the Big 4

When the PCAOB released its first batch of 2019 inspection reports earlier this year, there was one outcome that left us at Going Concern HQ feeling like we were living in some auditing bizarro world: PwC had a worse audit failure rate (30%) than KPMG (29%). It’s rare when KPMG doesn’t have the worst PCAOB […]

ey orlando

EY Pats Itself On the Back For Not Blowing As Many Audits As Before

Last month the PCAOB teased the results of its 2020 inspection reports by saying audit firms were getting better at not being awful at auditing. From the PCAOB’s Staff Update and Preview of 2020 Inspection Observations: For the majority of the annually inspected audit firms, we identified fewer findings in 2020 compared to our 2019 […]

Does KPMG Lakehouse Have Hairdryers?

Not sure if Going Concern readers and random Googlers who end up in this sacred temple of Big 4 gossip are aware, but we can see the keywords you search prior to clicking through onto our site. And man, some of them are disturbing, due in part to the fact that we’ve written about questionable […]

Big 4 Item of the Week on eBay: EY Pedometer

All you health nuts and fitness freaks who spend each and every day building a better working world can hop on over to eBay and purchase this unused EY pedometer. Unshackle yourself from your desk and bust out this black and yellow step-counter the next time you walk to the break room or take that […]

Deloitte Came Oh So Close to Having a Historically Low Audit Deficiency Rate

If it was any other year, champions of audit quality would be throwing Deloitte a ticker-tape parade for only having two glaring errors out of 53 audits inspected in the firm’s newly released 2020 PCAOB inspection report. But it was PwC auditors who were the ones pulling ticker-tape out of their hair while Deloitte was […]

ESG Is the Next ‘Hot Thing’ In Accounting, Say MIT Researchers

For years we’ve been hearing how blockchain and AI will transform accounting, and this recent article from MIT Sloan School of Management (aka MIT Sloan) about the five forces remaking accounting gives them both the obligatory nod. But we’re not here to talk about blockchain. We’re here to talk about ESG. After a brief introductory […]

It’s True: PwC Had a Nearly Flawless 2020 PCAOB Inspection Report

The PCAOB blessed us this morning with its first batch of 2020 inspection reports, which included BDO USA, Deloitte, EY, Grant Thornton, KPMG, and the highly anticipated one for PwC. Back in August PwC released its 2021 audit quality report, which included a lot of bragging about how much more competent P. Dubs’ auditors have […]

This Probably Didn’t Go Over Too Well With Many Grunts At EY

“I was just talking to our team in terms of the importance of people, the importance of being empathetic, the importance of making sure that we’re taking care of our people. And, you know, we talk to our clients about this all the time. We’ve actually hired 115,000 people in the last year, but we’ve […]

One KPMGer ‘Annoyed’ By New Enhancements to 401(k) Match and Pension Programs

I wanted to make a comment about KPMG’s new 401(k) rules. As a recent US hire, the changes annoyed me in some ways. Here’s why: What the article (“Changes to KPMG’s 401(k) Contribution Policy Seem to Be Getting Positive Reviews”) didn’t mention or what your source material may have left out is that in addition […]

KPMG Rocks signs held by a woman in a KPMG shirt

Changes to KPMG’s 401(k) Contribution Policy Seem to Be Getting Positive Reviews

In mid-July 2020, when public accounting CEOs were still looking at ways to slash costs because of the Rona’s impact on their firms, we started receiving tips from KPMGers about their retirement and pension plans taking a hit: KPMG announced this week they are cutting pension and 401k contributions in half for 2020. According to a 2018 […]

We Get It Lady, You Work For Deloitte

There’s a disturbing social media trend afoot, and no it’s not sex workers claiming to be accountants on TikTok. Over the last few years, LinkedIn has gone from a useful tool for professional networking to Letters to Penthouse for business. Y’all know what I mean. The long, rambling posts littered with hashtags — often written […]

Bonus Watch ’21: Deloitte’s Audit Practice Is Trying to Nip This ‘Great Resignation’ Thing In the Bud By Offering Retention Bonuses

There’s a firm that finally gets it when it comes to giving employees of one of its core lines of service a reason not to join the mass exodus that is going on right now in the Big 4. It’s not promoting some fictitiously great company culture. It’s not giving employees Omaha Steaks or 1-800-Flowers […]

Big 4 Item of the Week on eBay: Peat Marwick Cap

Klynveldians, forget about all of the dark blue and plain white Phil Mickelson KPMG golf hats currently on eBay. If you want to look good even if you don’t play good the next time you have a tee time scheduled (probably sooner than later for many of you KPMGers), then you need this rare teal […]

EY US Chair Kelly Grier Will Not Seek a Second Term

Kelly Grier, EY US chair and managing partner and Americas managing partner since July 2018, announced during an all-hands call this morning that she will not pursue a second four-year term. A tipster told us that Grier said “it was a personal decision and had nothing to do with the strength of the firm.” Her […]

We Now Know the Buyer of PwC’s Global Mobility Services Business

After months of rumors and speculation online about whether or not PwC was selling its global mobility services business and, if so, to whom, we now have answers to both questions: Yes and private equity firm Clayton, Dubilier & Rice. Here’s the press release that just hit our inbox: Clayton, Dubilier & Rice and PwC […]

Deloitte Canada Fined $350,000 By the PCAOB For Fudging Audit Workpapers

Someone lit a fire under the asses of those who work in the PCAOB enforcement division because they issued seven disciplinary orders to audit firms and accountants from Sept. 22 to Sept. 30. One of those firms was Deloitte Canada. Compliance Week reported: The Public Company Accounting Oversight Board (PCAOB) on Wednesday [Sept. 29] imposed […]

Big 4 Item of the Week on eBay: Price Waterhouse Portfolio Briefcase

Attention PwCers in St. Louis: Be the envy of your office with this retro Price Waterhouse (sans Coopers) dark brown leather portfolio briefcase. It has the Gateway Arch on it and everything. Imagine yourself rocking this pre-owned briefcase at the client site or at the office’s next pizza party. Here are some pics from the […]

Here’s a Cringey EY Rap Anthem to Begin Your Workweek

Happy Monday, GC faithful. One of the things we here at GC headquarters have enjoyed sharing with you through the years are horrible anthems about Big 4 firms. Who can forget such classics as “Making an Impact That Matters” about Deloitte, “EY Anthem,” and “Your Worlds, Our People” about PwC. These sound like the songs […]

Someone at EY Had an Axe That Needed Grinding On Their Way Out the Door

On Oct. 7, someone on the way out the door at EY decided now was as good a time as any to air those final grievances and perhaps warn those who hadn’t yet experienced the full force of “bad fit” just what happens when you don’t fall in line. It’s posted on Reddit and the […]

[UPDATED] PwC Australia Diversity and Inclusion Manager Who Mocked Chinese Accents Had to Be Told You Aren’t Supposed to Mock Chinese Accents

[Updated original post from Sept. 28 with additional information on PwC Australia’s internal investigation. Update is at the bottom of this article.] Australian Financial Review has a blockbuster of an exclusive this morning, one that involves “a human resources executive dressed as a bat from Wuhan” and a senior manager of diversity and inclusion mocking […]

A Big 4 Firm Being Untruthful? You Don’t Say!

From the Financial Times yesterday: A senior KPMG partner advanced an “untruthful” defence at a disciplinary hearing into the accounting firm’s misconduct in the sale of bedmaker Silentnight to a private equity fund, a tribunal has found. The tribunal also found that KPMG and David Costley-Wood, the partner who led the Silentnight work, had failed […]

Elizabeth Warren Shocked to Learn Big Public Accounting Firms Do Shady Sh*t

Uh-oh, the Big 4 firms have gotten Sen. Elizabeth Warren’s dander up. The Massachusetts Democrat was appalled at a recent New York Times report that found at least 35 examples of big public accounting firm tax lawyers who left to join the US Treasury’s tax policy office or other government positions and then were rehired […]

Paying People More Will Not Win the Talent War, Says PwC India Leader Adamantly Opposed to Paying People More

From the moment ‘Generation Y’ entered the workforce at the turn of the century, the business leaders, politicians, and academics who came before us have been suffering from endless anguish over our alleged lack of loyalty and our pesky desire to find fulfillment in life beyond work. Many of us watched our parents give their […]

Promotion Watch ’21: KPMG US Admits 170 New Partners

The partnership at KPMG grew by 170 people earlier this month, as 120 men and 50 women were outfitted with new golf attire before being handed keys to the club by Chair and CEO Paul Knopp and Deputy Chair and COO Laura Newinski. This latest class of new partners (for FY 2022) is larger than […]

PwC Hits $45 Billion In Global Revenue In ‘New Equation’-less FY 2021

The FY 2021 numbers are in at PwC and global revenue rose 4.9% to $45.1 billion for the year ending June 30. Hey, nice job, everyone. And as you’d expect, Bob Mortiz is #PwCProud: “I’m tremendously proud of all we achieved in a challenging year, and the way we did it, leading with our values […]

EY Poaches Someone From PwC and Issues a Press Release, Part VI

We have some Big 4-on-Big 4 poaching action in America’s Hat, as EY of the Canadian variety recently nabbed a partner from PwC. A new partner in EY’s Financial Services practice, Biswajit Das bends over backwards to provide CIO and COO advisory services for the Big 6 banks, insurance players, asset management firms, and large […]

PwC Just Announced That You Never Have To Go Back To the Office If You Don’t Want To (Sorta)

Big news today! PwC just announced that effective November 1, its people will need to be fully vaccinated against COVID-19 in order to access PwC facilities and client sites. Deloitte announced a similar vaccination policy toward the end of August, as did KPMG, just a handful of days before President Biden announced the country’s own […]

Compensation Watch ’21: So Many People Are Bailing That KPMG UK Had to Change Its Bonus Structure

Attrition is the word on everyone’s lips these days, and you can bet that the ongoing Big 4 exodus is keeping plenty of partners up at night. Given the aforementioned stress-related insomnia, surely firm leaders are spending their extra awake hours coming up with creative, generous ways to hold on to the staff they have […]

Promotion Watch ’21: Deloitte Admits 169 New Partners and Principals In the US

The smell of new partners and principals still permeates the air at the biggest of the Big 4, as Joe Ucuzoglu recently gave his blessing to the newest class of rainmakers at Deloitte. This latest class (technically the class of FY 2022) is 35% larger than last year’s class at Deloitte and 13% larger than […]

EY Poaches Someone From KPMG and Issues a Press Release, Part III

Finally we have some Big 4-on-Big 4 poaching action here in the good ol’ US of A to write about, even though it involves a lateral move. After an 11-year stay at the House of Mickelson as a principal, Mitch Kenfield has joined EY’s Consulting practice in the same role. He announced his recent departure […]

Don’t Worry About Deloitte Partners In the UK, They’re Doing Just Fine

The Financial Times yesterday wrote about the rich getting richer at the Queen’s Deloitte: Deloitte’s UK partners will receive an average payout of about £1m after the accounting firm’s profits rebounded from a pandemic slump last year, helped by the sale of its restructuring division. The share of profits to 700 equity partners is the […]

Compensation Watch ’21: Did EY Redeem Itself In the Eyes of Their Employees? (UPDATE)

(Updated post from Aug. 18 with a comparison of average raise percentages per promotion from 2018 and 2016.) 2020 was a pretty ugly year for the Black and Yellow—and especially for EY employees. Let’s recap, shall we? No performance-based bonuses. Raises only to those who received a promotion. Lots and lots of layoffs. Unlimited PTO; […]

Here’s the Truth About What Really Happens at EY’s Neuro-Diverse Center of Excellence From Someone Who Was There

Ed. note: the following is a first-hand account of one person’s experience at the EY Neuro-Diverse Center of Excellence. The author has requested to be anonymous. On Saturday Night Live last March, Elon Musk came out on national TV as having Asperger’s syndrome. For the neurodiverse, this event was momentous not only because Musk hosted […]

KPMG Poaches Someone From PwC and Issues a Press Release, Part XVI

It looks like the hot spots for Big 4-on-Big 4 poaching lately are the U.K. and Australia, where KPMG Down Under recently made champagne wishes and caviar dreams come true for one PwC managing director. Australian Financial Review reported: Sally Torgoman, 38, has joined KPMG as a partner in the firm’s infrastructure business. Ms Torgoman was […]

PwC Probably Won’t Be Including Ex-Audit Partner’s PCAOB Fine In Trust Solutions Marketing Materials Anytime Soon

July 1, 2014 was a big day for Sarah Martin, as she was one of 180 chosen ones who were admitted to the partnership by PwC. On that day the Richmond, VA-based Martin became a partner in assurance, which along with tax now falls under the Trust Solutions umbrella at P. Dubs. Now fast-forward seven […]

KPMG Australia Audit Partners and Staff Didn’t Get Away with Cheating on Internal Training Exams Either

At the end of the Married With Children episode, “Go For the Old,” Al Bundy says: “It’s only cheating if you get caught.” Well, KPMG got caught. The firm was busted for cheating on internal training exams. Again. Just like in the US. This time the cheating was running rampant in Australia. The PCAOB fined […]

Non-PwCer Totally Confused About What PwC Trust Solutions Really Is

A thread today on Fishbowl: That’s what PwC gets for giving its assurance and tax segments a dumb new name. This is from the same firm that gave the world Strategy&. That was and still is a dumb name. It’s like they do it on purpose. Related articles: PwC Is a Name You Can Trust […]

KPMG Poaches Someone From PwC and Issues a Press Release, Part XV

In today’s edition of “Big 4-on-Big 4 Poaching From Around the World,” we head to the largest country in South America where Carlos Augusto da Rosa Gomes recently left PwC in Brazil for the bluer pastures of KPMG. He announced his new home away from home on LinkedIn earlier this month: KPMG is Carlos’s third […]

EY Rakes In $40 Billion In Global Revenue, Will Try Not to Suck So Much At Auditing

A day after Deloitte got the Big 4 revenue boasting season rolling yesterday, EY announced today that it pulled in a “solid” $40 billion ($39,959,000,000, to be exact) in revenue for the year ending June 30, a 7.3% increase over 2020’s $37.2 billion. But aside from all the patting each other on the back for […]

Compensation Watch ’21: Deloitte Staff Gets Some Encouraging News About Raises and Promotions (NEW UPDATE)

(Updated post from July 14 with a comparison of average raise percentages per promotion from 2020 and 2016.) In July we took a look at how raises this year at PwC compared to 2019 and 2017 because they were hyped up so much by PwCers on the usual chatter sites, and for the most part, […]

Guy May Have Gone Through Puberty While Working At KPMG

“Well, I’m KPMG man and boy. I actually did engineering at university and then decided that I wanted to get a business qualification alongside that, so I joined the KPMG audit team in Glasgow and did my charted accountant training there. And then post-qualifying I moved into our transaction services team in order to implement […]

Deloitte Is the First Big 4 Firm to Clear $50 Billion In Global Revenue

Big 4 revenue bragging season is officially underway with Deloitte being the first out of the gate. But before we get to Deloitte’s haul for fiscal year 2021, let’s recap last year’s global revenue results: Deloitte: +3.9% to $47.6 billion PwC: +1.4% to $43 billion EY: +2.3% to $37.2 billion KPMG: -1.8% to $29.2 billion […]

Compensation Watch ’21: How ’Bout Them Raises At PwC? (NEW UPDATE)

(Updated original post on July 8 with a comparison of average raise percentages per promotion from 2020 and 2016.) PwCers expected really good raises this year. They trust that management would make that happen, given that PwC U.S. had record-setting revenue of $18 billion last year during a global pandemic. Last year PwCers had to […]

In Honor of Labor Day, Here’s a Guy Who Would Take a Bullet for PwC

Y’all think he makes a Facebook post like this on his wedding anniversary? Nah, me neither.

Even a Marvel Superhero Knows How Horrible Working at a Big 4 Firm Can Be

“I remember being in the offices of Deloitte, counting down the seconds until five o’clock, or whatever time it would be that I could finally leave, and just feeling miserable every day at the office. Feeling like I wasn’t where I wanted to be.” — Simu Liu, star of the new Marvel film Shang-Chi and […]

Here’s What We Know Right Now About the New COVID Vax Requirements at KPMG US

It was only a matter of time before another Big 4 firm would follow Deloitte’s lead in requiring COVID-19 vaccines for employees to enter its facilities. But I gotta admit, I wasn’t expecting that firm to be KPMG. (PwC, to be honest.) Here’s what was posted Tuesday morning on Fishbowl: I texted a source at […]

KPMG Poaches Someone From Deloitte and Issues a Press Release, Part III

We haven’t heard or seen anything about the Big 4 exodus being as big of a thing in the UK as it is in the US, but it seems like there’s been a slight uptick in the amount of Big 4 hopping going on across the pond. The latest is Daniel Barry joining the partnership […]

KPMG UK Asks Staff to Stop Snitching to the Media When the Firm Does Something Stupid

Do y’all remember way back in February when then KPMG UK chair Bill Michael had to resign after he told staff to stop moaning in a virtual town hall? A few hundred KPMGers were in (virtual) attendance for Michael’s rant which included observations about how staff are a bunch of whiny little bitches who don’t […]

PwC Might Do Something No Other Big 4 Firm Has Ever Done Before

After years and years of PCAOB inspections of the Big 4 in which the percentage of audits of public companies that weren’t up to snuff have been in the 30s, 40s, and even 50s, we finally had a respectable audit report card earlier this year when Deloitte nearly had a single-digit deficiency rate in its […]

EY Is Helping Its Broke Interns Get Their 150 Credits

In the war for talent, it’s not (imaginary) prestige or ping-pong tables that will win the battle but cold hard cash. Or, in this case, a little help with what is often a costly and time-intensive venture for future CPAs. Last week, EY announced their new Career Path Accelerator, the TL;DR of which is an […]

PwC Manager Believes Associates and Senior Associates Are Going the Way of the Dodo Bird

Hey, I don’t know if you’ve heard but there’s a pipeline problem in public accounting right now. Seems some people finally got the memo that long hours and low pay isn’t worth the prestige of putting “worked at [INSERT BIG 4 FIRM NAME]” on their resumes anymore. And then there’s that other problem: those who […]

EY UK Sheds Some Pounds Because An Audit Partner Messed Up Big Time

The UK’s audit cops were itchin’ to dole out some discipline today, and the butts that were paddled belong to ex-audit partner Mark Harvey and his former employer EY. The Financial Times reported: Accounting firm EY has been fined £2.2m and issued with a severe reprimand for failings in its audit of Stagecoach, the London-listed […]

Beginning October 11, You Won’t Get Into Deloitte US Offices Without a COVID Vaccine

In a firmwide email today, Deloitte US announced that the firm is strongly suggesting its 113,257 people get their Rona jabs if they haven’t already, and should they not do so, they can expect to be shut out from Deloitte offices beginning October 11. The “no shirt, no shoes, no vaccine, no service” policy has […]

Caption This: With the Big 4 Exodus Underway, Desperate Times Call For Desperate Measures

Kicking off with: Turnover is so bad right now at PwC dogs are being hired to fill seats. Happy Friday everyone.

Public Accounting Firms Don’t Need to Increase Salaries to Retain Staff Says Guy Who Obviously Never Worked In Public Accounting

In the 12 years since this website was founded, we’ve heard a lot of complaints from accounting students and early career public accountants. A LOT. Many things have changed since 2009, but one thing has remained consistent all these years and it’s the overwhelming sentiment that public accountants are paid far too little for the […]

What In the Name of Kelly Grier Is This Nonsense!?

Yeesh. Hope they pick you, my guy!

Deloitte Doesn’t Want to Play In the Sandbox with the Big Law Kids Right Now

“We are monitoring these developments. At this point in time, though, we just don’t believe it’s practical to enter the practice of law.” — Steve Kimble, CEO of Deloitte Tax in the U.S., said in an interview with Bloomberg Law about the possibility of Deloitte stomping around Big Law’s turf in the States. What developments […]

Deloitte Poaches Someone From PwC and Issues a Press Release, Part V

Not in Australia this time around. In today edition of “Big 4-on-Big 4 Poaching From Around the World,” we head across the Atlantic where the Queen’s Deloitte has nabbed a longtime PwCer and magically turned her into a partner: Deloitte in the UK has hired Kanika Mehta as their latest Partner to join their Transaction Services team, after […]

So How Much Did PwC U.K. Partners Rake In This Year?

Ferrari, Aston Martin, McLaren, Jaguar, and Mercedes-Benz dealerships in and around London probably have been bustling more than usual lately, and here’s why: PwC’s UK partners took home record pay this year after the firm’s profits rose by a quarter to a fresh high of almost £1.2bn on the boom in corporate dealmaking. Average profit […]

Happy National Kool-Aid Day to All You Big 4 Kool-Aid Drinkers

Enjoy this day created just for you! But don’t spill any. Those who do are the first to get “coached out” or put on PIPs. Plus those Kool-Aid stains are hard to get out of your clothes. Have a great weekend, everyone.

[UPDATED] PwC Delays Its Reopening Plan to Mid-Pumpkin Spice Latte Season, Mulls a Vaccine Mandate

News on the wire today is that PwC is pushing back its plan to get everyone back in the office, which had been tentatively planned for some time in mid-September but, well, y’all know how that’s been going. And by “the wire” we mean Reddit, which is generally a decent source for accounting news because […]

Deloitte U.S. CEO Joe Ucuzoglu Says Give Your People What They Want Or You’ll Lose Them

Y’all the Great Resignation has scared the pants off of corporate America. No longer can they get away with teasing ping-pong tables and elusive “work-life balance” that we all know is heavy on the work but light on the life. Go figure, once going to the grocery store could literally kill you, it’s like everyone […]

Let’s Play a Game of ‘Which Big 4 Firm(s) In India Does This Bad Look Belong To?’

A tipster sent us this blurb that was published in the Suits & Sayings section of the Economic Times last weekend: When I first saw this, my first thought was that the Big 4 firm where the partner was supposedly sexually harassing women co-workers is EY in India, given its history of it allegedly happening […]

Deloitte Poaches Someone From PwC and Issues a Press Release, Part IV

Yesterday we told you about the big poaching spree by Deloitte Australia, as the firm recently added six new partners to its risk advisory business. Most of that kontingent is komprised of soon-to-be former KPMGers who will officially join Deloitte in October. But another one of the six came from P to the W to […]

Deloitte Poaches Someone From KPMG and Issues a Press Release, Parts I, II, III, and IV

Damn, Deloitte Australia got quite the haul recently from the Australian House of Klynveld, nabbing four KPMGers—two partners and two directors—who will join Big D’s risk advisory business starting in October. That is some hardcore poaching. Australian Financial Review reported on July 27: Daniel Houseman, 42, is joining Deloitte as a partner from October. Mr Houseman is […]

Not the Onion: Deloitte Is Using Spoken Word Poetry to Teach Its Employees About Climate Change

Not sure if you heard but the giant rock we all call home is in trouble. Glaciers are melting, sea levels are rising, and I don’t have to tell you that the weather has been absolutely terrifying the last few years. The good news is it’s looking more and more like the Earth will give […]

KPMG Just Missed Getting a Record-Setting Fine In the U.K. By *This* Much

When an independent disciplinary tribunal concluded in June that KPMG U.K. and one of the firm’s partners failed to comply with the fundamental principles of objectivity and integrity in their work on the sale of bed manufacturer Silentnight to U.S. private equity firm HIG Capital in 2011, the panel recommended KPMG be fined a record-setting […]

Ex-Deloitte Australia Partner Says The Olds Still Got Game

“I think the whole industry should simply do away with any age-based retirement policy. I don’t think older partners perform any differently. These days people still have got a lot to offer as they get older. They’ve got a lot of experience, they’ve got a lot of know-how. They can be up with trends in […]