Category: Big 4

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

Three Things Accounting Firms Can Learn from Jim Joyce

Chances are good that at this time yesterday you didn’t know anything about James Joyce III. Today, America can’t stop talking about the poor sap. His Wikipedia page has been frozen and he’s a trending topic on Twitter.


BP sent Joyce a bottle of tequila this morning, the card reading, “Thank you for taking the heat off of us. Enjoy the spotlight. Remember to wear sunscreen. XOXO – BP”

Experts have varying opinions on what this means for baseball and the implementation of instant replay. What is easier to agree on is that Joyce deserves respect not for his poor call but for the fact that he was humble enough to admit that he was wrong, saying, “I just cost that kid a perfect game. I thought he beat the throw. I was convinced he beat the throw, until I saw the replay. Biggest call of my career, and I kicked the shit out of it.”

If nothing else, Little Leaguers everywhere can learn from this moment. But the lesson doesn’t need to end there. What can every accounting firm take away from this situation in hopes of never pulling a JimJoyce* themselves?

Admit when you are wrong – Listen to your mother, George Washington, or whatever truth-telling role model you have in your life and fess up when you are wrong. Deloitte did just that back in April when they admitted to handling the “headcount adjustment” in poor fashion.

Don’t point fingers – I don’t know if you’ve noticed the bickering going on between E&Y and PwC recently, but it’s kind of…what’s the word for it…pathetic? First there was the “our raises are bigger than yours” spout from E&Y leadership. Boys, boys, keep it in your pants. Size doesn’t mat…oh wait, what? It does in this case? Well then. Brag away. Then PDubs’ London arm decided to pull a Joe McGinniss and set up camp a mere 10 meters from E&Y’s fish ‘n chips office. Awkward love affair or uber-competitive personalities? Either way it’s immature to act like this. Grow up.

Hide – Joyce is probably in the process of doing this (don’t expect him to return to the field anytime soon). But the newly branded McGladrey is leadership’s efforts to mask the fact that cuts are affecting morale and staff ranks. Perhaps no one commented on Caleb’s putting green post because no one is left. Just sayin’.

What else can your firm learn from Jimbo? Comment below.

*you heard that phrase here first.

Marin County Accuses Deloitte of, Among Other Things, Using ‘Neophytes’ on SAP Project

Deloitte is being sued by Marin County in California, who is alleging fraud by misrepresenting its “skills and experience.” In other words, the County says that D used their ERP project as more or less a training ground for its newbie consultants. And no client likes it when you bring the blades of grass on site. They can’t even turn on their laptops without causing some sort of scene, amiright?


Channel Web has some of the particulars:

The County in April 2005 hired Deloitte to implement its SAP ERP system. However, the County alleged in the court document, “rather than providing the County with SAP and public sector expd the County’s SAP project as a trial-and-error training ground to teach its consultants — many of them neophytes — about SAP for Public Sector software, all at the county’s expense.”

Plus! The County claims Deloitte promised their very best people. From the complaint: “Deloitte further represented that for the County’s SAP implementation, Deloitte had assembled a team of its ‘best resources’ who had ‘deep SAP and public sector knowledge.’ “

A Big 4 firm promising their best and brightest on the job in an RFP? There’s a shocker. “Best” being relative, as we all know but Marin County (obviously not familiar with a Big 4 sales pitch) must have been expecting a team to fly in from hyperspace that could slap this thing in lickity.

Thankfully, Michael Krigsman explains over at ZDNet that this isn’t exactly rare:

1. The court filing describes sales practices that are common through the consulting and systems integration industry.

For example, the complaint alleges that Deloitte committed to “dedicate our best resources and bring tailored implementation strategies to meet [Marin’s] long-term needs.” Many IT customers complain their system integrators do not follow through on such commitments and use inexperienced labor in attempts to reduce their own costs and increase profits.

We’d be so bold to say that this true of many Big 4 engagements, whatever the service line. Newbies have to get their teeth cut somewhere – why not on a public service job where money obviously grows on trees?

Deloitte isn’t impressed with this gnat of a lawsuit, claiming that they did exactly what they were supposed to do (not to mention to put up with the amateurs at MC that have zilch ERP experience) and the system was working just fine when they left:

As stated previously, we fulfilled each and every one of our obligations under the contract, as evidenced three years ago when all of our work was approved by the County officials responsible for the project. To be clear, the SAP (NYSE:SAP) software was working properly when we completed our work in November 2007. Not only is the complaint without merit, but we are filing our own claim against the County for breach of agreement and unpaid invoices. Although we are confident that we will prevail in court, it remains our belief that this dispute can and should be resolved in a more logical fashion that benefits the County and its taxpayers.

So Deloitte gets a little huffy basically saying, “Suck it, Marin County. MBAs love Deloitte. OH, and btw, you owe us some money,” but ultimately wants to keep things civilized for the sake of the taxpayers. Let’s hope it stays childish just for the sake of entertainment purposes. Taxpayers in California are f—ed anyway.

Marin County complaint against Deloitte Consulting on failed SAP project

California County Sues Deloitte For Fraud In SAP ERP Project [Channel Web]
Marin County sues Deloitte: Alleges fraud on SAP project [IT Project Failures/ZDNet]

Promotion Watch ’10: Latest Details on KPMG’s New Managers

From a Klynveld Quaker:

In recent meetings with PA Business Unit leadership with all audit staff (i.e. A and SA’s), we were told that of the 32 inidivudals up for promotion to Manager in the combined three offices (Philly, Harrisburg, Pittsburgh), that 22 were officially promoted. Of the 10 that weren’t, at least 1 just came back from international rotation, and either 2 or 3 (can’t remember which) hadn’t passed the CPA exam and therefore couldn’t be considered for promotions. All raise and bonus theories were squashed (as to hard percentages), though we were told to expect some form of raise as well as variable comp at FYE.


So just a shade better than two-thirds of the Keystone KPMGers eligible for manager will be in the new manager class. As you may remember, this is pretty close to the breakdown for one office in the Rockies but a little less than an office in the northwest.

Since the firm has four months to go in its fiscal year, the fact that the local leadership wouldn’t even give a hint comes as no surprise. That said, it hasn’t stopped people from speculating about what they think the increases will be. We encourage you to share what you know, what you’ve heard, or your own wild-ass guess. And keep us updated with the latest in your office.

The Big 4 vs. Private Sector – Shoulda, Coulda, Woulda?

Happy MoanDay Tuesday, everyone.

Last week’s post about Big 4 firms lowering the bar on starting salaries in order to project artificial pay raises was well discussed in the comments section. Thank you to everyone who commented, as that’s what makes this online community vocally vibrant and a joy to be a part of.

Part of the conversation included a debate about whether it is better to begin a career in accounting with a Big 4 firm or in the private sector; two very different career paths. The question is a legitimate case of shoulda coulda woulda. The following are a few comments from the peanut gallery:


• Guest said, “Even though I was offered $55k + $5k bonus out of college for a Big 4, I was VERY close to not accepting the offer and instead going with a private firm that was $60k starting and normal hours. The only reason I went to the Big 4 was because I fell for the trap of ‘the name recognition.’ If I could go back in time, I would have chosen the private firm.”

• Another Guest crunched the numbers, “In a Big 4, you’re overworked about 20-25% more than the private sector (if not, then more). Say a Big 4 offers you $55k starting. Your “REAL” salary relative to your peers would in fact be $55,000 / 1.25 = $44k. If you lower it to $50k for a first year, that equates to a real salary of $40k.”

• Finally, 2nd Year Associate chimed in with, “Plenty of my college pals are making upwards of $10k more than I am a year and they don’t even have their CPAs. I joined public accounting to get ahead over the next 5 to 10 years but if my pay was any less I’d have skipped this route completely.”

I think it all depends on where your career is at. If you graduated in 2007 or 2008, you might be less thrilled to be on the public accounting career. The double digit percentage raises for everyone on the team that were fiercely promoted by the Big 4 campus recruiting machines have yet to materialize for you, and now you find yourself lumped into the “just happy to have a job” group. Your classmates that went the private route have been cruising on decent pay and 45 hour work weeks. Nothing good to see here; move along.

If you’re 4-8 years into your career, you’re obviously in a different place. You’ve experienced the 15% raise, climbed the corporate shuffleboard to senior staff or manager, and utilize the phrase, “when I first started here…” all too often. You’ve earned your stripes after a number of busy seasons; your desire for a new job is to be better respected by your superiors. Pay isn’t everything, but it’s important.

Throughout all of this, you’ve benefited from the resources of working at a large firm (no, I’m not talking about free dinners). The training programs have been extensive, your CPA license is paid for, and you’ve been enjoying as much of your five weeks of vacation as the firm allowed you to take. And what about having the name on your resume? Having a pedigree firm on your resume can oftentimes land you the interview; earning the pay day is up to you.

So why did you enter into public accounting? Was it because the Big 4 had a strong presence on your campus? Were private companies not offering enough? Would you change anything about your career path to this point? Leave your thoughts below.

Lowering the Bar – How the Big 4 Can Raise Morale by Reducing Starting Salaries

Last Friday’s post by Caleb surrounding the Bonus Watch at Deloitte sparked a handful of intuitive comments from GC readers.

In case you didn’t read the post and subsequent commentary, Commenter Anon51 responded to the question “what do readers suggest firms do to retain practitioners” with the following:

1. treat every team member with respect

2. you can’t just force your team to work harder year after year with fewer people and a smaller budget

3. pay 4-7 year people more, pay new hires less, so it seems there is an incentive to working harder

4. reward your people with an extra day off without having to utilize vacation time, especially after a really busy month/audit

Point 3 is bolded because it resulted in the following comment from Guest:

“That’s a really good idea, and I’m not being sarcastic. There is no reason why new hires fresh out of college need to make $59k ($55k + $4k sign-on bonus), when they would happily work for $50k. Then, a $5k bump every year would be a reward, with maybe a higher bump during promotion years…Pay disparity is a bigger issue than actual pay.”

Well said, Guest and Anon51.

I’ve said it before and I’ll say it again – the Big 4 are constantly in cahoots with one another with regards to hiring benchmarks. So I propose that TBig4PTB get together and reassess their starting salaries. Behold, a template for all Big Wigs to follow:

1. Decrease starting total packages (salary + sign on) by seven percent. Lower the bar from the get-go.

2. Now is the time – blame the decrease on “a firm wide strategic response to the economic risks of being a major player in the professional services industry. Unofficial response – did you see the DOW sink like the Titanic the other day?!”

3. Spread gap created by initial decrease in salary over the next two years. This will create an artificial sense of accomplishment and praise.

4. Send internal emails stressing the “increase in raises for well deserving employees.” Everyone cheers.

5. In three years college graduates will not know the difference; this “decrease” becomes a non-issue.

Guest’s comment that “pay disparity is a bigger issue than actual pay” can become a non-issue with very little effort. Is this fair or ethical? Mehhhhh. I personally think it would be a slap in the face to those of you who have busted your humps and sacrificed career and personal opportunities all in the name of KPDeloitterhouseErnstMG. But it certainly wouldn’t be the most desperate attempt made by one of the firms in recent memory.

Raising morale – hardly. What are your thoughts?

KPMG Is Getting Hot Over Some of Your Comments on Summer Blast

We don’t need to remind you that there is a long weekend coming up. In fact, some of you may be bolting later today so you could get a jump on a weekend full of bad decisions.

Sensing your anxiety, KPMG wanted to let you know, that contrary to what some people are saying, there are plenty of Klynveldians who are pleased – nay – ecstatic about the KPMG’s Summer Blast.

It’s been suggested to us that “[The] Radio Station engages in masturbation over Summer Blast” which seems about right. The only other thought we had was of John Veihmeyer printing out the most glowing comments and writhing around in them on a conference table (with the Notre Dame fight song playing in the background).


We received the communiqué and have included some of the comments for your own pleasuring purposes:

“I am a long-time employee of KPMG, over 23 years, and have seen a lot of changes occur over that time. I most appreciate the Employer of Choice initiatives that have transformed this firm and made it truly a great place to work. I think it’s the best campaign ever devised by the firm.”

“I’m so happy to see some of what makes KPMG a great place to work is back! It really made my week – made me feel more confident about the future, made me feel like all the hours and hard work are appreciated, and made me even prouder to say that I work for KPMG.”

“Great news to receive on a Monday morning! Thanks so much for the Summer Blast email; I must admit that it has been quite the buzz since the first teaser email was sent. Good to see colleagues hypothesizing about what it could be. Thanks again for the benefits provided through Summer Blast!”

“KPMG ROCKS!!” [Submitted by Tim Flynn]

“I think this is AWESOME that KPMG cares this much about their employees. While other companies are more into ‘what is best for the company,’ OUR firm is saying ‘what is best for our people.’ That goes a long way with me!” [Easy on the caps, Kanye]

“This is such great news! There has been lots of speculation of what Summer Blast would be. The entire package has exceeded our expectations! What an awesome way to start the summer! The staff really appreciate the acknowledgment of our hard work these past few years! Thank you!” [Speaking on behalf of the staff seems presumptuous]

If you don’t see your thoughts here but would like share, fire away.

PwC, Ernst & Young Building Defenses Against Each Other’s Spies, Peeping Toms

Ernst & Young had a nice little buffer zone from the other Big 4 in their London office until PricewaterhouseCoopers decided they’d set up camp next door and now the two firms are strategerizing.

P. Dubs is finishing up the construction on their new digs and the Telegraph reports that “At their closest point the two offices are roughly 10 [meters] apart.” This proximity (not to mention the obnoxious tendency of Big 4 types to be competitive just for the sake of being competitive) has apparently led to rampant paranoia at the two firms about spying.


Getting up in E&Y’s shit seems to be bean counting as usual at PwC, as this latest move more or less correlates with the alleged poaching of 20 E&Y partners in the Middle East.

The Telegraph is insinuating hilarious war-esque undertones, saying, “First blood in the battle has gone to PwC with the installation of blinds that close automatically whenever audio-visual presentation equipment is switched on and an office layout that ensures no computer screens face windows.” The obvious concern being that PwC’s secret “we provide the absolute best client service” plan would be imitated by E&Y, which would mean an all-out war.

However, the real concern should be voyeurs scoping out the office sexcapades. As we’ve mused in the past, the odds of fornication for accountants are slim as it is and work relationships are a convenient option. With this development, some E&Y and PwC minions will be denied the opportunity for office sex. This is not as much of a problem for the exhibitionists at the firm, however, that cross section is likely small.

E&Y is reportedly “evaluating a number of options,” to combat P. Dubs’ tactics, which may or may not include the following:

A) A group mooning that will involve the most portly E&Y employees.

B) Placing inflatable bozos in the windows.

C) Draping the entire building with a photo of Susan Boyle in Beckham’s PwC undies.

D) Your idea.

Blackout curtains beckon as accountancy rivals find themselves too close for comfort [Telegraph]

John Veihmeyer Wins One for the Gipper

[caption id="attachment_10529" align="alignright" width="150" caption="But how does he feel about Charlie Weis getting fired?"][/caption]

A few weeks back we presented the BusinessWeek ranking of accounting programs that found Notre Dame at the top. At first we just figured Touchdown Jesus had something to do with it but now we have reason to speculate that a divine carpenter had nothing to do with it.

Since KPMG Chairman-elect John Veihmeyer was recently named alumnus of the year by Notre Dame’s accounting department, some people might assume that JVeih did a little lobbying of the BusinessWeek folks in order to earn the top spot and perhaps this is South Bend’s thank you for the kind words.


Whether this back-scratching theory has any weight to it is up for a debate but what we know for sure is that some lucky Irish students/future Klynveldians got to hear JV speak recently at Notre Dame Stadium and some inspiring words were shared:

During his remarks, Veihmeyer used his own educational roots and career experiences to remind students what a unique opportunity they have had at Notre Dame and how it will benefit them on the road ahead. His audience listened in rapt attention. While the average college student would have paid just to have dinner in Notre Dame Stadium, these students knew that getting career advice from the Alumnus of the Year and CEO and future Chairman of a Big Four Accounting Firm was priceless.

From the sounds of it, the speech was the KPMG equivalent of this:

Porn-Extortion Plot Didn’t Turn Out Too Well for Ex-Deloitte Partner

This story goes back before GC’s time so we’ll give you some background: Steven Klig was a hotshot tax partner at Deloitte until he was arrested for extorting an ex-lover back in January 2009.

Since most tax partners we know have to beat off the ladies with a stick in each hand, this seems unbelievable but apparently, Klig didn’t have the typical IRC wonky charm and was a little miffed that a lover wasn’t interested in him any more.


His frustration reached critical levels which resulted in emails to the lover, who he tracked down on the web and claimed that he had a DVD of them getting down. Lucky for us, the Post just so happened to get its hands on a copy of the email back in January ’09:

“Just to give you a head’s up. I’ve been doing a little editing on our video. Mostly some blurring of myself so that I won’t be recognized,” he wrote in one e-mail, according to the criminal complaint. You, on the other hand, can be seen very clearly having the time of your life being f—ed by me.”

Despite the good times, the woman went to the FBI after Klig emailed her husband trying to get a hold of her email address. An agent posing as the woman responded to Klig:

[A]sking what he wanted and pleading, “I want to keep my family out of this.”

He allegedly responded, “I don’t need money. What I really want is something new to look at.”

Klig then allegedly detailed his preferences for the “first installment” as: “(1) fully clothed; (2) without your shirt; (3) without your shirt and pants (in just a bra and panties); (4) without the bra and (5) fully nude.”

And the best part? He sent some of these emails while he was on vacation. At Disney World. With his wife and kids. Can’t you see it? You’re walking around Epcot, surrounded by shrieking children, grown adults dressed as princesses, talking animals, and overgrown dwarves; what a perfect opportunity to extort some porn out of an uncooperative ex-lover!

According to the Post, Klig pleaded guilty to lesser charge in order to avoid serious time although the judge indicated he could face up to a year in prison where he may or may not have the time of his life.

Tax lawyer pleads guilty in porno-extort scheme [NYP]

Does It Matter That Deloitte Left the Rest of the Big 4 in the Dust on CNN Money’s MBA List?

Can we have a show of hands who takes a list of employers published by Time Warner seriously? Fine. To hell with you; for this particular exercise we’ll assume that the list is 100% accurate.

Here’s the breakdown for the Big 4 on the CNNMoney’s 100 Top MBA Employers, Where MBA students say they’d most like to work:

#12 – Deloitte
#44 – PricewaterhouseCoopers
#45 – Ernst & Young
#75 – KPMG


So Deloitte dominates when you look at the Big 4’s performance. To put it in a little bit of perspective, Deloitte ranks ahead of The Blackstone Group and Morgan Stanley while the rest of the Big 4 rank behind the State Department.

Is this possibly due to the fact that they are the only firm to keep their consulting (not Advisory) practice in-house? Do they simply do a better job of selling their firm? Or is it possibly because male-patterned baldness is not discriminated against in leadership positions?

Or maybe we’re making too much of this. All the firms have a spot on the list and Google beats everybody’s ass with extreme prejudice, so is this one of those “it’s just a thrill to be on the list” moments, which results in the fliers all over your office and in the halls of Career Services at B-schools?

But forget all that for a minute. What’s really surprising (or perhaps not) is that the expectation of MBA graduates whose preferred field is public accounting are expecting an average salary of $59,176 for their first job after graduation. That amount is less than those for academic research ($79,590), education/teaching ($76,138), government/public service ($77,943) and “Other” ($92,110). Oh, and it’s behind “Auditing/accounting/taxation (corporate)” at $64,841. The average salary for preferred fields is $90,990.

Five years after graduation, those same graduates expect to make $92,075. Again, dead last. The average salary being $157,324.

Whether this says more about the state of the accounting profession or the firms that court those seeking accounting focused MBAs, we’re not really sure.

But in the grand scheme of things, it might just say that Deloitte’s position on the list may be – gasp – meaningless.

100 Top MBA Employers [CNNMoney]

One Office Will Be Enjoying a Bonus Denim Day During KPMG’s Summer Blast

Last week we were notified that KPMG’s Summer Blast would soon be in full swing and that details would be forthcoming.

TPTB obviously sensed your anxiety about the details and we’re happy to report that we have the details via the Silicon Valley office. And KPMG SV seems pret-tay, pret-tay excited that two days out of your (presumably) five day week will be spent sporting only 50% of the biz casual uniform.

This Summer, Have a Blast on Us!

Our firm is slightly ahead of plan at this point in our fiscal year, and it’s due in large part to your hard work, teaming, and market development focus. Looking ahead, your continued commitment is critical as we push to meet our business objectives for the year.

In appreciation of your efforts, and to help you to recharge your batteries so we can meet the challenges ahead of us, we’re excited to announce KPMG’s Summer Blast!, a program of food, fun, and perks that lasts all summer long and features:

• A Summer BBQ gift that includes a selection of steaks, chicken breasts, sausage, burgers, and gourmet franks

• The return of Summer Weekend Jumpstart

• The introduction of firmwide Blue Jeans Fridays – Given our office already enjoys Blue Jeans Fridays, as part of Summer Blast, the Silicon Valley Office will also have Blue Jeans Mondays for the duration of Summer Blast!

• The return of the Vacation Photo Challenge

To redeem your BBQ gift and see what all the fun is about, visit our Summer Blast Web site. And keep checking out the site in the coming months to see what’s hot this summer.

We hope this Summer Blast! helps you to enjoy and recharge this summer, so we can all pull together as a team, do our best work, and finish 2010 even stronger than we started it.

Have a great summer! And thanks again for everything you do for the firm, no matter the season.

Typically there is some sort of acknowledgment of the vegetarian/kosher crowd but this particular message glaringly omits it. We’re sure there’s an alternative but in the event that you non-meat eaters are SOL, please inform.

Speaking of meat, some Klynveldians had made it known that they’d prefer to buy their own flesh for consumption by way of a bonus or something like that. If you’re staying with that narrative, kindly elaborate further.

(UPDATE): We’ve now learned that if you want vegetarian and/or kosher options, you’ll have to ring up Omaha Steaks yourself. You vegetarians can expect an uncooperative customer service rep subsequent to your, “I don’t eat meat,” revelation.

KPMG’s New Paperless Audit Is Going to Be the Best Thing Since Paper

[caption id="attachment_10529" align="alignright" width="150" caption="Paperless!"][/caption]

How about one more convo with the KPMG leadership this week? As one commenter mused earlier, the lack of past CEO spreadsheet-side chats were too few and far between so we figure we’re doing a you a favor by this passing ��������������������round, John Veihmeyer and Henry Keizer kick around lowballing fees, outsourcing and the firm’s new paperless audit technology:

Inquisitor 1: Can you talk a little bit more specifically about what we’re doing right now to compete with firms that are reducing their fees so drastically that you have to wonder how they are even covering costs?

Keizer: To me, the first and foremost guiding principle is – make sure you’re giving the most absolute best client service. I think to the extent that you do have great service, we’ve got to be able to have very transparent and open discussions with our clients as to what are our economics? Where are we? What is the competitive information? What is market pricing, as opposed to the offer that came in unsolicited? And find a way to meet the objectives of what we need, and what our client needs.

Maybe we will, in fact, have to drop a price in, let’s say, our audit offering. But then are able to say, but why can’t we maintain the same or higher KPMG spend? Let’s look at who’s doing your tax compliance work. Let’s look at who’s doing your SAS70? Those types of discussions do allow us to compete successfully without having a case where it’s just about price.

Not sure who transcribed this thing but it’ll work for a Friday. First off, Inquisitor numero uno is obviously under the impression that KPMG would never lowball its fees. Even though other people have suggested exactly that.

Keizer Soze then reminds his little friend that it’s really not about the money, it’s about providing the best client service imaginable (sacrificing life, limb and/or dignity) which will result in more work for the firm. It’s a self-perpetuating cycle, really.

Inquisitor 2: Is there more plans to outsource positions in the U.S. to India?

Veihmeyer: I think as you look across the entire scope of our activities, and I think the most important one is – how do we serve our global clients – making sure that we are competitive in the marketplace and can think about how we execute a lot of our engagements differently to be successful. I think we will continue to look for opportunities to source talent, source resources, source skills, anywhere in the world it makes sense. I don’t see it as exchanging a position here for something offshore.

I think we see this as a very key strategy to make sure we are as competitive as we can possibly be in the marketplace—which I think will have one primary impact to the U.S. firm and that is create more opportunities for our people here. And why is that the case? Because we will win more work, we will be competitive in situations that we otherwise wouldn’t be competitive in, if we didn’t have that capability. And that’s what creates opportunities for our people.

In a word: Yes. As for why – Dammit, we’re a $20 billion firm (but not really, we’re actually a network of independent firms operating under a global cooperative. Ask Tim Flynn; he’ll tell you) and our competitors play hard ball. We’ve got to create other jobs overseas to keep up with those guys. Will that affect you? No chance, Blanche! If it does, it just means your life will be infinitely better because KPMG has business it didn’t have before.

Inquisitor 3: eAudIT – how is it going? What challenges have we faced? And how are clients, employees, and recruits receiving the deployment?

Keizer: e-AudIT is on track for deployment. We released the software in April, the 2010 version. Training schedules will be rolling out over the next several months.

It is the tool that accomplishes three major things. One, it allows us to do things more efficiently. It moves us from a work paper format to a work flow.

And lastly, there’s always been a great appetite of our professionals, how do I tap into the knowledge that KPMG has? e-AudIT is the platform now, to actually make that knowledge available to our professionals.

I think e-AudIT puts us in front of our competitors in terms of a platform that’s truly the best that’s out there. I believe when we look back, it will be the single most important ingredient to us providing the type of service, meeting our regulatory and professional requirements, and having our people feel good at how we have enabled them to really be high performance professionals.

[Jesus, easy with the rapid fire, Inquisitor tres; Hank isn’t a speed listener]. Paperless auditing has moved into KPMG lock, stock and barrel. We’re only 10 years into the 21st Century and we’re ready to start fixing bugs in this thing for the next ten years.

It’s far superior to anything the other firms have because you’ve been training on it over in Monty and we haven’t heard a single complaint. Someday you’ll be able to tell your grandstaff that this was the absolutely most exciting time to be at KPMG because that was when things got serious.