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November 30, 2022

Big 4

If it happens at a Big 4 accounting firm, we’re talking about it here.

How Do Big 4 Consulting Internships Stack Up Against MBB?

McKinsey, Bain, and Boston Consulting Group—the Nos. 2, 1, and 3 best consulting firms to work for, respectively, in 2022, according to Vault and Firsthand—either have really crappy internship programs or didn’t want to participate in Firsthand’s internship survey because MBB is not among the top 15 consulting firms that provide the best experiences for […]

concept photo of a KPMG auditor searching for material misstatements

Carillion Liquidators Roast KPMG: “A Competent Auditor Would Have Detected the Misstatements”

The Carillion failure is still working its way through the courts and now KPMG is accused by Carillion’s liquidators of missing multiple red flags, the likes of which should not have been missed had KPMG had any clue what it is doing. So say the liquidators. WSJ: KPMG received £29 million from Carillion without qualifying […]

help wanted sign

What Shortage? EY Is Supposedly Hiring 220,000 People This Year

According to the horse’s mouth, EY is buried under millions and millions of resumes and on track to hire nearly a quarter of a million people this fiscal year. Bloomberg: EY is on track to hire around 220,000 people in the twelve months to July 2023, having achieved its highest growth in nearly two decades […]

an empty desk

EY Survey Ironically Finds the Four-Day Workweek is the New Standard at Many Companies

According to the latest EY Future Workplace Index survey, many companies are moving toward a four-day workweek thanks in part to competition for talent. The survey reveals surprisingly optimistic attitudes from company leadership on real estate investment despite economic tightening, says the press release, a sign that employers want you back in the office at […]

A Deloitte career page

Confirmed: People Who Work For Deloitte Are Zombies

We always suspected there was something odd about people who work for Deloitte, now we know. They’re zombies! It seems Deloitte offered up a unique recruiting ad during yesterday’s long-awaited Walking Dead series finale. Excuse the potato quality of this screen recording, I’m on a Windows 3.1 machine. I’ll see if I can dig up […]

A Certain Big 4 Firm Gets Another Chance to Screw Up a State’s Unemployment Benefits System

We can’t fool you guys. Of course it’s Deloitte! Hopefully Uncle D will do a bang-up job this time for the state of Michigan, unlike some of the other state unemployment benefits systems it has handled (or mishandled) like Florida, Illinois, Colorado, and California. The Detroit Free Press reported on Nov. 15: Michigan’s Unemployment Insurance […]

FTX Arena in Miami

A Couple PwC Partners Have Been Quickly Assigned as Joint Provisional Liquidators of FTX

Kevin Cambridge and Peter Greaves of PwC were approved by the Supreme Court of the Bahamas as joint provisional liquidators of failed crypto exchange FTX. From the press release [PDF]: On 10 November 2022, the Securities Commission of The Bahamas (“the Commission”) applied to the Supreme Court to appoint Mr. Brian Simms, KC as a […]

Begging for a Signing Bonus *After* Accepting an Offer is Not How This Works

A disappointed new Deloitte hire must have gotten wind that the firm offers signing bonuses if it’s desperate for warm bodies, but this person wasn’t presented with one when they accepted their job offer. So they went on r/Deloitte to ask for advice. And the responses this person got back are about what you’d expect […]

a stock photo of Cyprus

Some Partners at PwC Cyprus Did Not Want to Lose Their Russian Clients So They Started Their Own Firm

In March of this year, Deloitte Global posted a little message on its website about the then-developing situation in Ukraine saying the firm had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” Within days, that message changed to saying they are “currently […]

The Supreme Court Had Better Things to Do Than Hear Appeal From Ex-Dallas Cop Who Murdered PwC Accountant

Former Dallas police officer Amber Guyger knows a thing or two about someone being shot down. The Dallas Morning News reported on Monday: The U.S. Supreme Court declined on Monday to review the case of former Dallas police officer Amber Guyger, who is serving a 10-year prison sentence for the murder of Botham Jean in his apartment. The high court’s […]

KPMG Australia Recruits From High Schools to Meet Demand For Talent

KPMG Australia was in the news the other day for a new recruiting program involving high school grads (who were clearly rounded up from the burnout section behind the building joke) and it’s an interesting idea: on-the-job training in lieu of university. You’ll note these are technology recruits, we’re not desperate enough for accountants yet […]

leadership concept photo

Deloitte Just Canned a Bunch of Old Leaders to Make Way For Younger Ones in the UK

FT is reporting that Deloitte just axed half of UK executives this week, a surprisingly abrupt move that was announced to staff yesterday. The reason? “The changes were driven partly by a desire to replace older members of the management team with younger partners who would be young enough to run for election as chief […]

Let’s Speculate About Who Will Be the Next CEO of Deloitte

With Joe U. going global, there will soon be a vacancy in the office of the CEO at Deloitte. Fortunately for the Green Dot, it has enough people waiting in the wings who have the bona fides to fill that seat. Let’s take a look at a few of the top contenders who could be […]

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Did a PwC Partner Leak Client Financial Data? A Court Will Decide

We briefly mentioned the following case in an August 2020 link dump of several Big 4 lawsuits going on at the time, there is now a date set for court so we’re throwing out an update. The allegation is that former PwC north of England head Ian Green leaked sensitive information about his client, telling […]

missed target concept photo

Our Audits Sucked Because the Auditors Are Exhausted, Says Deloitte Australia

Last week the Australian Securities and Investments Commission (think Aussie PCAOB) informed us that Deloitte and KPMG need to take “continued deliberate and concerted action” to improve the quality of their audit work because apparently it is just that bad. Deloitte did not meet ASIC standards on half of audits inspected, KPMG came in at […]

Deloitte "if you just follow, you'll never lead" sheep billboard

Joe Ucuzoglu Ascends the Throne of Deloitte Global, Maybe Someone Will Care This Time

Deloitte announced today that the man with the hardest to spell last name in accounting Joe Ucuzoglu will be taking over for Punit Renjen as Deloitte Global CEO. Yes, there’s a press release: The Deloitte Touche Tohmatsu Limited (Deloitte Global) Board today announced the selection of Joe Ucuzoglu as Deloitte Global CEO, subject to a […]

a lazy auditor

EY Reminds Us That Audits Provide ‘Reasonable Assurance,’ Not a Guarantee That Billions of Dollars Aren’t Hidden From the Balance Sheet

The NMC Health collapse of 2020 is still haunting EY UK, this time in London High Court as NMC administrators accuse the firm of failing in their duties and not noticing “one of the biggest frauds ever alleged at a FTSE 100 company.” The administrators, whose job it is to find some funds to repay […]

a man expressing doubt in these survey results

Another Deloitte Survey Says ‘Purpose’ is Just as Important as Pay (Yeah Right)

Deloitte pushed out some survey results this week that confirm what leaders have been telling themselves ever since the first Millennials entered the workplace at the turn of the century: ‘purpose’ is just as important as pay. Sure, guys. Sure. A Deloitte survey of over 4,000 respondents* found that over half of employees (62%) consider […]

Compensation Watch ’22: Just How Scary Were Raises at KPMG This Year? (UPDATE)

[Updated original post from Oct. 19 with KPMG raise percentages for 2015 and 2013.] As the leaves start changing to PwC colors, it signals the start of compensation season at another Big 4 firm: KPMG. The results of the most recent round of comp talks are in and can be found on r/accounting, per usual. […]

man hiding in shame under a laptop

ICYMI: KPMG Screwed Up

Didn’t see this press release when it came out last week and because we delight in taking every opportunity possible to point out how objectively terrible KPMG is we’re sharing it with you now. Via the PCAOB: The Public Company Accounting Oversight Board (PCAOB) today announced settled disciplinary orders sanctioning three audit firms for failing […]

an exit sign

PSA: Even in This Market, It’s Still Uncool to Quit Your Big 4 Job Without Notice

I was a bit surprised by the responses to this question on r/Big4 about quitting without notice. It seems even in this market we are in agreement that the least you can do is give the customary two weeks. Best case scenario they cut you loose immediately so you don’t drag your team down, steal […]

a man in business suit giving a thumbs down

EY Israel Has Rejected the Split

Financial Times is reporting that EY Israel is joining EY China in rejecting the proposed split of audit and consulting services. “From our point of view in the Israel business, the split will not create benefits,” said EY Israel Managing Partner Doron Sharabany to FT. EY China’s decision was based on regulatory hurdles that could […]

Watch Ex-PwC Intern Sack Tom Brady

Happy NFL Sunday! Here is a video of two-time former PwC summer intern and New Orleans Saints defensive end Tanoh Kpassagnon (90) sacking the GOAT last year with a little help from his friends. Tanoh Kpassagnon sacks Tom Brady pic.twitter.com/JUjAQvjhFF — Jason Bramwell (@bramweller) October 23, 2022 Kpassagnon, who double-majored in accounting and finance at […]

thumbs up and thumbs down

The Canadian PCAOB Says One Big 4 Firm Keeps Screwing Up Audits But Won’t Say Which One It Is

Shall we speculate wildly which Big 4 firm is not meeting the Canadian Public Accountability Board’s generous standards? The Globe and Mail reports: One of Canada’s Big Four auditing firms continues to have a significant number of problems in its work, the national industry regulator has found. For now, the Canadian Public Accountability Board, which […]

a hand extended in a handshake

This EY Split Thing is Going to Be Responsible For a Lot of Dinners and Golfing in the Year Ahead

The EY split is yet to be official — that should come late next year after a vote in a few months — but technology consultants that would have to go up against “the competitive edge” of a liberated EY consulting house for clients should get to work now if they want to stand out […]

an Ernst & Young umbrella

EY Is Haunted By Some Lingering Independence Problems

Yesterday the PCAOB made public additional portions of EY’s 2018 inspection report “because the firm did not address certain quality control issues to the satisfaction of the Board within the 12 months following the date of the report.” EY’s 2018 PCAOB inspection report is dated April 28, 2020 and in it, the Board said EY […]

a cartoon man ranting

Deloitte Partner Who Got Sh*tfaced Drunk and Made an Ass of Himself at the Horse Races Will Be Retiring

You know how they always say accounting is a small world and you should take care not to burn bridges? Well Stephen Cahill, partner and head of Deloitte UK’s executive compensation practice, decided to say “fuck that and fuck you too” this past June when he went on a sexist, racist tirade in the company […]

a stack of pencils, some broken

College Accounting Programs Are Taxpayer-Funded Training Programs for the Big 4 and Other Such Muckraking

Ed. note: the following is penned by Bob Jennings CPA, EA for his Taxspeaker.com newsletter. Bob has given us permission to reprint in full and we are enthusiastically doing so in the hopes it will spark much-needed conversation about one of the profession’s most significant issues: the Big 4 oligopoly. According to the SBA, small […]

a man in a field with binoculars

PwC Plans to Poach Unhappy Senior Managers From EY

While the pundits are talking about how the EY split could completely change the accounting industry as we know it and inspire other firms to split once they see the truckloads of cash pulling up to EY partners’ houses, one industry vet is perched at the periphery with a stack of offer letters just waiting […]

Promotion Watch ’22: KPMG Admits 186 to Partnership

Now that summer has turned to fall and Deloitte, PwC, and EY have all had their comp discussions with employees, released their global revenue numbers for 2022, and deified all of their new partners and principals, it is KPMG SEASON! The firm with a Sept. 30 fiscal year-end has begun comp talks with Klynveldians (we’ll […]

When it Comes to Global Revenue, PwC is Still Deloitte’s Bi*ch

2015. That was the last time PwC held the distinction of being the world’s biggest accounting firm by revenue, edging Deloitte by a $35.4 billion to $35.2 billion margin. But since then it’s been all Deloitte, overtaking PwC in 2016 and widening its lead in 2022 to about $9 billion now that PwC has officially […]

Sarcastically Surprised Kirk meme

The Talent Shortage Has Gotten So Bad Clients Are Now Doing Their Own Audit Documentation

The Securities and Exchange Commission has charged Deloitte China with failing to comply with fundamental U.S. auditing requirements because in numerous audits over numerous years Deloitte China asked clients to select their own samples for testing and to prepare their own audit documentation. From the SEC press release: The Securities and Exchange Commission today charged […]

According to This List, Deloitte is the Best Big 4 Firm For Women

Fortune has come out with their 100 Best Large Workplaces for Women list and while no accounting firms made the top ten, Deloitte managed to claw their way up to #16 from #51 in 2021 thus making them the highest-ranked Big 4 firm on the list. To determine the Best Workplaces for Women, Fortune research […]

EY stress balls

EY UK Chair Insists Audit Will Not Be the Red-Headed Stepchild of Professional Services if the Split Goes Forward

For years, audit has struggled to attract talent and especially leadership because let’s be honest, audit is awful. You’re clients least favorite person, you have regulators breathing down your neck, and one little mistake can ruin your whole career. Plus the pay is…not great compared to other service lines. EY UK Chair and Managing Partner […]

Promotion Watch ’22: Deloitte Admits 279 New Partners and Principals

Deloitte recently unveiled its latest class of overachievers, which includes 107 new partners and 172 new principals for fiscal year 2023. This newest class is a biggun compared to others in recent years—Deloitte admitted 169 new partners and principals for FY 2022, 125 for FY 2021, and 150 for FY 2020. Want more numbers? OK, […]

a shadowy figure representing the Pope

The Pope (Yes, That Pope) Has a Message for Deloitte: People Over Profits

So apparently Pope Francis had a meeting at the Vatican with a roomful of Deloitte consultants yesterday? And in his address, the Holy Father told them business has the power to help suffering people and to help tackle crises worldwide, including the pandemic and war. As if there weren’t enough pressure on people at Big […]

EY Basks in the Glory of Third-Place Revenue (Maybe for the Last Time) in 2022

The Big 4 firm with a split personality officially announced today its fiscal 2022 revenue of $45.4 billion—a figure we knew several weeks ago thanks to the Financial Times. EY has always seemed perfectly fine with being the third biggest accounting firm in the world by revenue, knowing it’ll never catch PwC for second place […]

a bucket of coins

EY Might Not Make Buckets of Money From This Split Thing After All

The Wall Street Journal has an article today suggesting that the EY audit/consulting split may not be the big money pay day EY is banking (heh) on. Why? Consulting is a competitive market and the economy isn’t looking so great these days, and EY’s separated consulting biz will not necessarily have the brand recognition in […]

EY China: We Are Not Splitting, Sorry

The Financial Times was one of the news outlets that reported last week about EY China saying it wasn’t going along with Carmine Di Sibio & Co.’s plans to split EY into separate auditing and consulting entities. Not because EY partners in the firm’s Mainland, Hong Kong, Taiwan, Macau, and Mongolia offices don’t wanna become rich […]

a guy in business dress carrying his stuff out of the office in a cardboard box

KPMG’s ‘Do As We Say Not As We Do’ Tips to Prevent Employee Turnover

KPMG has some sponsored content in Harvard Business Review about how to keep employees from defecting (defecting? Really? It’s a job, not the Sandinistas) and in it, the firm offers some suggestions to encourage employee loyalty. Suggestions that they themselves would be wise to implement should KPMG want to hang on to their own people […]

blocks stacked up to signify a ranking

Listicle of the Day: The Accounting Firms on Fortune’s 25 Best Large Workplaces in Consulting and Professional Services

Yikes that headline was a mouthful, sorry about that. Anyway, Fortune has released its 25 Best Large Workplaces in Consulting and Professional Services list and you might be surprised to learn that only one Big 4 firm cleared the top ten. Actually you might not be surprised by that at all once you learn the […]

Audit Partners and MDs Work Much, Much Harder Than Everyone Else at PwC

Saw this in PwC’s 2022 Audit Quality Report and wanted to get the peanut gallery’s opinion on this math: My first thought is imagine how much worse these numbers would be if you people didn’t eat as many hours as you do. Though judging by this, you’re getting much better at it. Thoughts? Concerns? Outrage? […]

Deloitte "if you just follow, you'll never lead" sheep billboard

Another Year, Another Revenue Record For Deloitte in 2022

This morning turned out to be a pretty big Big 4 news day. First, we had EY’s top brass approving splitting its auditing and consulting businesses (no surprise here). Then we had Deloitte announcing its global revenue for 2022—and it’s a record amount (no surprise here either). The Green Dot pulled in $59.3 billion in […]

EY HAS BIG NEWS, YOU GUYS

This announcement is the most exciting thing since…uh…yeah, I got nothing. Anyway, the EY split is official. The vote, that is. “EY leaders have reached the decision to move forward with partner votes to separate into two, distinct, multidisciplinary organizations. The next steps include ongoing engagement with partners to provide them with more information in […]

Some Folks at EY Spent Labor Day Working Out the Details of the Audit/Consulting Split

The Wall Street Journal is reporting that the EY split is moving forward thanks in part to the big wigs getting together over the holiday weekend to hammer out the plan. Ernst & Young’s leaders are expected this week to give the green light to splitting its auditing and consulting businesses, paving the way for […]

For a Brief Time This Past Weekend, a PwC Twitter Account Was Promoting Crypto Scams

PwC Venezuela’s Twitter account was hijacked over the weekend and started pumping out links to an obvious crypto scam involving (legit) Ripple and its CEO Brad Garlinghouse. The website the scam tweets linked to — xrpgivtoday — was registered on September 3, 2022. You’ve probably seen similar scams all over Twitter, usually involving Elon Musk […]

a stern looking polar bear

Deloitte is Out Here Being Cringey on LinkedIn Again

That polar bear’s name? Albert Einstein. Related articles: We Get It Lady, You Work For Deloitte What’s Up With Deloitters and the LinkedIn Cult Mentality? Everyone Knows 11-Year-Olds Can’t Wait to Work at Deloitte

PwC Is Still Not Forcing People Back to the Office (Really)

Since last November, PwC has graciously allowed 40,000 client-facing people to choose whether or not they want to be in the office (when they don’t have to be, that is) and as other companies begin an aggressive push to get people to return to office after Labor Day, the firm is reiterating its stance on […]

EY Staffers Feel Left in the Dark After Death of Their Colleague Last Weekend

In the early hours of last Saturday, the body of a 27-year-old woman (note: she was incorrectly identified as 33 in early reports) was found at EY’s Sydney office and since then, questions have been raised about the events of the final hours of her life. Most reports say she went out for drinks with […]

Did the SEC’s Acting Chief Accountant Have EY in Mind When He Wrote This?

The Australian Financial Review reported today that EY had hoped to temporarily share the EY brand name between a new independent consulting firm and its existing auditing firm if a decision is made to split the two businesses into separate entities. But according to a statement this week from SEC acting chief accountant Paul Munter, […]

A 27-Year-Old Woman Working For EY Died at the Office Over the Weekend in Australia (UPDATE)

Ed. note: the earliest reports identified the woman as 33 years old, this has now been corrected to 27 based on new information. Tragic news coming out of Sydney, a 27-year-old woman working for EY died at the office over the weekend. The original Australian report is behind a paywall so we’re getting some details […]

Deloitte Just Lost a Quiet Cybersquatting Dispute With a Privacy-Focused Crypto Company

Have you heard of DYKC? We haven’t. It’s not like it’s our job to know what giant accounting firms are doing across the globe at any given moment. Apparently Penultimate Media Systems hadn’t heard of Deloitte’s “Know Your Customer” services either when they registered DontKYC.com in August 2021. Deloitte decided to stomp that out lest […]

Even KPMG in South Africa Could Not Escape the Clutches of PCAOB Enforcement

Earlier today the PCAOB gave KPMG of the South African variety a slap on the wrist and punished a couple of partners for the firm collaborating with an outside accounting firm not registered with the PCAOB on three years’ worth of audits of a public company. That non-registered accounting firm was KPMG Zimbabwe. And these […]

close up of a person carrying moving boxes

ICYMI: KPMG Is Downsizing Its NYC Digs Big Time

KPMG announced last week it will relocate its headquarters to Two Manhattan West, a new building in Midtown Manhattan’s West Side slated for completion in 2023. The new digs mean a huge 40% reduction in NYC office space, signaling the firm expects hybrid work to persist for the foreseeable future and then some (sorry, Boomers). […]

EY Gone Wild? 1200 Rowdy EYers Are Partying Like It’s 1999 in the Netherlands

A tipster has directed us to some news coming out of the Netherlands this week that otherwise would have flown under our radar so thanks for that, tipster. The tip: 1200 Scandinavian employees of EY partying in a beach hotel in the Netherlands. OK that sounds tame enough, how much trouble can 1200 EYers cause? […]

Why Are People at Big 4 Firms So Elitist? A Rant

Here’s a fun one from Fishbowl today: Thankfully someone pointed out how bizarre it is for someone to have worked at Big 4, a small firm, and GT, BDO, and RSM. OP clarified that they only worked for Grant Thornton — which they called “awful and primitive” — and lumped similar size firms together as […]

PwC Manager is Suing the Firm After He Lost a Chunk of His Skull at a Drunken Work Event

In 2019, PwCer Michael Brockie (UK) was at an after-hours pub golf outing with colleagues when he got blackout drunk and awoke in the street later that night with no memory of the evening. He suffered a life-changing head injury and had to have part of his skull removed, most likely due to a fall […]

Here’s the Deck EY Put Together to Sell the Audit/Consulting Split to Staff

Australian Financial Review has published slides shown to EY staff in a July global webcast led by Carmine Di Sibio and in them we learn more about EY’s plan — code-named Project Everest — to split off consulting and audit. First up, the why. “The transformative forces reshaping professional services are evolving at unprecedented speed and […]

Only One Big 4 Firm Made This Top 100 Internship Programs of 2022 List, You’ll Never Guess Who

DEI and Early Talent Recruitment platform provider Yello has released its sixth annual Top 100 Internship Programs List to highlight “companies across all industries who have gone above and beyond for their interns.” This year’s winner is Boeing with the remaining 99 on the list unranked. Companies nominate themselves for consideration and the anonymized judging […]

Compensation Watch ’22: Here’s Everything We Know About EY Raises and Promotions

First it was Deloitte, then PwC, and most recently EY that waded into the Big 4 compensation discussion waters with its employees. We’ve written quite a bit over the past several months about EY being the only Big 4 firm that didn’t give its grunts a mid-year salary adjustment. But Uncle Ernie did make one […]

Would You Rock These KPMG Kicks?

A simple yes or no will suffice.

Word Hits TikTok That Big 4 Firms Are Cheap Bastards, “It’s Modern Day Slavery”

Deloitte Australia is trying to be transparent by releasing salary data but apparently this tactic isn’t working, not with Daily Mail writing headlines like Young Aussie reveals why many millennials no longer want to work in corporate jobs – after boomers said the generation was ‘lazy and entitled’ that is. Here’s the TikTok that inspired […]

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

Last month KPMG made a big deal in a press release about how it had added eight partners and managing directors to “advance its Tax Reimagined service offering.” Good for you, KPMG. But what’s somewhat interesting is that the eight new partners and managing directors came from two other Big 4 firms, one of which […]

Hoping Everyone Has Forgotten About All the Scandals, KPMG UK Is Bidding for Government Contracts Again

Late last year KPMG UK decided to stop bidding for government contracts for a bit while they worked out some scandals, piss poor audit quality, and client collapses. Well, it wasn’t so much that they decided but rather that the government threatened them and told them to get their shit together or they’d be banned […]

Everyone Knows 11-Year-Olds Can’t Wait to Work at Deloitte

Why do people post this crap on LinkedIn. Thanks for doing your part to feed the pipeline, ma’am.

How Do You Know When It’s Time to GTFO of Big 4? One Manager’s Opinion

Came across this on r/big4 this morning, let’s remember half of what you see on Reddit is just someone’s creative writing exercise and people who claim to make $200k/yr are often 14-year-old larpers but hey what kind of weirdo would pretend to be a Big 4 manager on the internet. Read on. I don’t think […]

Let’s Take a Quick Tour of EY’s Metaverse Space (It Doesn’t Suck)

When the first glimpses of KPMG’s metaverse space appeared earlier this summer, my first thought was how much it looked like first-person shooters I played 20 years ago. I was also struck with a sense of deja vu, it looked oddly similar to the Maryland Association of CPAs’ CPA Island in Second Life which existed […]

Here’s How Much Auditors and Consultants at Deloitte Australia Make

Deloitte Australia is putting it all out there and revealing exactly how much its people make. Australian Financial Review reports: Deloitte Australia chief executive Adam Powick has revealed the minimum pay rates for the firm’s audit and consulting divisions as part of a strategy to be more transparent with staff and attract more skilled professionals. […]

Happy 125th Birthday, KPMG!

Today is August 2 and KPMG is turning 125! Way to prove the naysayers wrong as they pointed and jeered and insisted that we’d be down to just three Big 4 firms by the end of the 2010s. YOU GO, KPMG. Don’t listen to those haters. There’s a press release because of course there is: […]

Los Angeles Might Outsource Its 211 Phone Service to Deloitte and People Are Not Happy

Deloitte Consulting might be picking up a new client: the downtrodden of Los Angeles County. ABC7 reports: Los Angeles County’s nonprofit “211LA” hotline to health, human and social services is on the verge of being turned over to a private company, pending a vote by the county’s Board of Supervisors. The supervisors are slated to […]

The Accounting Profession is Scaring Away Gay People (and Lesbians, and Transgender People, and…)

Despite accounting firms changing their Twitter logos to rainbows for the month of June, a shocking number of LGBT accountants are straight up leaving the profession because they feel they don’t belong. This is very bad news considering how shallow the talent pool is to begin with. Thomson Reuters on IMA and CalCPA research: LGBTQ+ […]

Big 4 Global Revenue Numbers For 2022 Have Started to Trickle Out

While not officially official yet, two of the Big 4’s global CEOs recently teased how good things were revenue-wise at their respective firms in 2022. In an interview with the Financial Times earlier this month, PwC’s Bob Mortiz said the firm’s global revenue for its most recent fiscal year would be close to $50 billion, […]

A Senior Partner Who Has Probably Been Burned Out Since 1997 Gives Tips on Avoiding Burnout

Why do I feel like this screenshot is going to end up on r/thanksimcured? Now this may be blasphemy to say this around these parts but he’s mostly right. Exercise? Hell yeah, great for you. Healthy eating? Also great for you, those takeout dinners can really take a toll on your health. Passion projects? Super […]

Is It Time To Break Up With Your Big 4 Firm? A Quiz

Some of you are familiar with the ubiquitous Cosmopolitan Magazine quiz and for those of you who aren’t, well, sorry you’ve never quantified your sex life using a five question quiz developed by some sassy intern. Today we’ve got one of our own. Is It Time To Break Up With Your Big 4 Firm? Pick […]

Deloitte’s Prized Playground Might Be Getting An Upgrade (UPDATE)

[UPDATE] Deloitte University, aka Deloitte Disneyland, will be getting some new attractions now that Tarrant County commissioners approved tax breaks for Deloitte to proceed with a $300 million expansion of its training center campus in Westlake, TX. The Dallas Morning News reported on July 26: Commissioners unanimously approved a 10-year deal that could save the […]

PwC’s Summer Break Works, Says Tim Ryan

From a recent CNBC article on company-wide vacation breaks to foster employee well-being: Feeling revitalized is what many employees and their employers both want. Starting this year, accounting and consulting firm PwC is giving its 60,000 U.S. employees two annual company-wide, week-long breaks — one in July and one in December — in addition to […]

Mass Exodus at KPMG or Just a Day Ending in Y?

Meanwhile, in the Asia-Pacific (India, we think)… Twelve years ago my esteemed former colleague Caleb Newquist got clowned for calling six resignations at KPMG NYC an exodus so we’ll refrain from warnings about skies falling down for now.

Deloitte Has Calculated the Tangible and Intangible Value of the Roman Colosseum Because of Course They Did

Deloitte got their calculators out and put a dollar value on The Colosseum of Rome, the largest amphitheater built during the Roman Empire, the largest standing amphitheater in the world today, and top Italian tourist destination. Despite listening to Tiziano Ferro for 20 years, my Italian sucks so here’s Google’s translation of the newly released […]

This EY Canada Recruitment Video Said ‘Belong’ So Many Times the Word Lost Its Meaning

You ever repeated a word so many times in a row the word becomes alien? Belong. Belong. Belong. Belong. Belong. Belong. Belo…..

Deloitte Is Getting a Service Doggo!

We are putting aside our usual bitterness toward Big 4 firms for a moment here because PUPPY. Deloitte is getting a dog! We’re excited to share that @deloitte is getting another #puppywithapurpose 🐶💪– deepening our commitment to #veterans and their families. Before our puppy officially joins – he needs a name! Naming contest is open […]

KPMG UK Somehow Won’t Be Getting a Record Fine From the Financial Reporting Council For Carillion Mess (UPDATE)

[UPDATE] The Queen’s KPMG was finally, officially fined £14.4 million by the Financial Reporting Council earlier this morning for all the stupidity that happened during the 2016 audit of collapsed construction and services company Carillion, as well as for the mistakes that occurred in its 2014 audit of IT software company Regenersis. KPMG UK and […]

UK Audit Watchdog Says Deloitte Is Doing Some Good Auditing Across the Pond

Deloitte is doing a great job keeping the Financial Reporting Council happy these days. Per the FRC’s recently released 2022 Audit Quality Inspection and Supervision Report, the audit watchdog is pleased with the progress the firm has made and the absence of serious deficiencies: In the 2020/21 public report, we concluded that the firm had […]

EY Is Leaving $10 Billion in Consulting Fees On the Table If It Doesn’t Split, Says Global Chairman Carmine Di Sibio

In comments to Financial Times, EY Global Chairman and CEO Carmine Di Sibio says splitting consulting and audit “would win its consulting division up to $10bn in extra fees by liberating it from conflicts of interest that block partnerships with the world’s largest tech groups.” Those consulting fees are as yet out of EY’s reach […]

KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Part IV

It‘s been awhile since we paid attention to people leaving Grant Thornton for KPMG and vice versa, but this news that was made public yesterday is a biggie: well-known Grant Thornton Chief Economist Diane Swonk turned in her purple rose after more than four years with the firm and has joined the House of Klynveld […]

A Labor Shortage in Singapore Is Forcing Big 4 Firms to Cough Up Higher Salaries

Picture it. Singapore. 2022. Bloomberg reports: The Big Four accounting firms are showering staff with pay increases in Singapore, where an acute labor shortage is driving a fierce contest for talent. PricewaterhouseCoopers LLP and Deloitte LLP lifted base salaries starting from July 1, according to internal documents from the two firms reviewed by Bloomberg News. […]

Compensation Watch ’22: Does the New Equation Add Up to Better Raises For PwC Employees? (UPDATED)

[Updated original post from July 2 with new raise percentages for A2->S1, A3->S1, and S1->S2; added raise percentages for 2015, 2014, and 2013.] Now that raises have been doled out at Deloitte, next up is PwC. This is the first compensation cycle in the era of the New Equation, which is just a fancy way […]

PwC Director Lets His Family Know He Probably Won’t See Much of Them on Their Family Beach Vacation (UPDATED)

This is so sad. This is almost as bad as the time Moss Adams boasted about how this one guy would be working on dual monitors at the pool all weekend because flexibility. Update: We received the following this morning, thought we’d share. Nice try with the hate toward someone and their family. This guy is […]

Pittsburgh Man Acquitted of Manslaughter In the Death of Deloitte Consultant

A jury in Honolulu reached a not guilty verdict on July 11 in the manslaughter trial of 39-year-old Pittsburgh resident Benjamin Fleming who was charged last year in the death of his college classmate and Deloitte Consulting employee Abhishek Gupta while the two vacationed with another friend in Hawaii. “I emphasized throughout the trial that […]

EYers Are Waking Up to Overdrafts This Morning Due to a Serious Payroll Snafu (UPDATED)

We’re learning this morning that folks at EY will not be getting lunchtime DoorDash today, their paychecks from last Friday have been unceremoniously yeeted from their bank accounts. Per a tipster: There’s a payroll snafu of some sort at EY and seems just about everyone had their payroll reversed. Mass panic and overdrafts. And a […]

The KPMG Australia Cheaters Have Been Disciplined, Much Slapping of Wrists All Around

Back in May Australian Financial Review reported that 12 of the 422 KPMGers who took part in systemic exam cheating would be put through the Chartered Accountants ANZ individual disciplinary process. That process has now concluded. Here’s the update from CA ANZ: Chartered Accountants Australia and New Zealand (CA ANZ) takes all allegations of academic […]

Senior Managers Out of F*cks to Give Are Acting Up in Review Comments

Saw this on Reddit this morning, good thing I grabbed it before it got deleted just like this Sr. Manager’s career. Text of the original post transcribed below: I’m a Manager, a Sr. Manager is leaving me profanity / border line insulting review comments – what to do. First time working with this guy and […]

Working 60-70 Hours a Week is ‘Fine’ Says Underpaid Big 4 Auditor Skilled in the Art of Minimizing

Check out this Big 4 auditor recently profiled on eFinancialCareers. Blink twice if you need work-life balance, buddy. I’m an auditor for a Big Four firm. Audit jobs don’t always have a good reputation: they pay less than some other Big Four jobs and offer less chance of making partner. But this is fine because […]

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Exit Opportunities: Quit Auditing and Start Influencing

£3,000 ($3,600) a month. That’s how much Tanvi Shah made in audit before she decided to quit Big 4 for good and make her social media side hustle a full-time gig. Insider has the details: Shah said that before giving up her corporate job, managing a side hustle felt like having a double life. She […]

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Big 4 Conflicts of Interest Are in Regulators’ Crosshairs, EY Tops the Independence Naughty List

There’s a story in the New York Times today about how EY “devised an elaborate arrangement” for nonprescription drugmaker Perrigo to avoid more than $100 million in taxes, an arrangement that was questioned by Perrigo’s then-auditor BDO. Perrigo did what any reasonable tax-avoiding nonprescription drugmaker would do and dropped BDO for EY, hence totally resolving […]

EY Continues Streak As Big 4’s Busiest Audit Firm

EY has had a few firsts in recent years: first Big 4 firm with unlimited PTO, first audit firm to get a $100 million fine from the SEC, first Big 4 firm to compare men and women with waffles and pancakes, and first place among the Big 4 in public company audit clients for the […]

Promotion Watch ’22: EY Admits 1,033 New Partners Across the Globe

Move over, EY new partner class of 2021. There’s a much larger class of brand-new rainmakers at the firm this year: The EY organization announces that 1,033 people have been promoted to partner across the globe, the largest ever cohort of new partners. Women and the Assurance service line represent 32% and 33% of this […]

Some Guy in Montana Thinks Audit Firms Are Corrupt, Untrustworthy

Jim Elliott writes an opinion column for the widely-distributed Missoula Current (that’s a joke) and in today’s column he decided to address the EY cheating scandal. His familiarity with the ethics exam EY auditors cheated on begins and ends with a quick Google search but as an outsider to accounting and a member of the […]

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Big 4 Firms Are Fighting Engineers Over the Right to Bill Clients For Climate Disclosure Audits

Interesting piece over at the Wall Street Journal this morning about environmental disclosures or, more significantly, who gets to charge clients for auditing this data under SEC climate disclosure rules proposed in March. Read: Firms that verify businesses’ climate data are at odds over who is qualified to perform the work, a pivotal and potentially […]

Happy 4th of July and Also a Lesson in How Not to Be

On this, the best holiday of the summer, let us all try not to be angry and bitter like this guy who got mad at KPMG for flexing Omaha Steaks on Facebook many years ago: Speaking of steaks, did they ever come back after The Great Unsteakoning of 2020? Stay safe out there everyone and […]

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Who’s Smarter, Big 4 Accountants or Industry Accountants? A Debate

Yesterday we retweeted an observation about how the smartest people work at Big 4 firms hoping for some good discussion and discussion did in fact ensue. Decent discussion, actually. It warms my cold black heart to know that at least in our little corner of the internet people with differing opinions are still capable of […]