September 26, 2022

Firm Watch

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SEC Fines Friedman For Piss-Poor Auditing So They Remember to Exercise Professional Skepticism Next Time

Last week the Securities and Exchange Commission charged Friedman LLP with with improper professional conduct for failing to comply with the standards of the Public Company Accounting Oversight Board while conducting audits of two public companies from 2017 through 2020. Friedman has agreed to settle the charges and will pay approximately $1.5 million in total […]

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Someone at Eide Bailly Has a Thing For Feet

Remember back in the early 2010s when firms were giving away iPads? Apparently this is what you get when you go to recruiting events nowadays: Anyone gotten anything good at events lately? Or are we still doing fat highlighters and Post-it flags?

Promotion Watch ’22: Here Are the 37 Newest Marcum Partners

If the 2022 new partner class at Marcum looks unusually large, it is. Why? Because of all the Friedmans. The class of new partners includes professionals who joined the firm as part of Friedman LLP’s merger into Marcum less than a week ago, on September 1. Up until now, last year’s class of 29 new […]

CliftonLarsonAllen is Still the Constructioniest of All Accounting Firms

You may or may not be aware that there is such a thing as Construction Executive magazine, and you may or may not be aware that Construction Executive magazine has ranked accounting firms with construction practices for the past four years. You may or may not be aware that there is an accounting firm called […]

Promotion Watch ’22: Baker Tilly Churned Out a Record 46 New Partners

The new partner class of 2022 is one for the record books at Baker Tilly, as 46 BTers got their club memberships recently from CEO Alan Whitman. Baker Tilly says in a press release that it’s the largest new partner class at the firm to date, which we have every reason to believe given that […]

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Thank God Accounting Firms Are Still Bragging About Ping-Pong Tables at the Office

The pandemic changed a lot of things, thank goodness it hasn’t impacted the profession’s inexplicable need to brag about their ping-pong tables at every opportunity. From Dallas Morning News: A fast-growing Dallas-based accounting firm is moving its offices in Deep Ellum to a bigger location that’s closer to Fair Park. “To accommodate the growing head […]

Moss Adams Got Sued Because They Kinda Forgot to Tell the Client About an Important COVID Relief Deadline (Allegedly)

Thanks to the tipster who sent this over. The California comedy club that helped launch the careers of such comedy greats as Richard Pryor, Robin Williams, and David Letterman to name a few is suing Moss Adams because they say they missed out on $8.5 million in COVID relief funds thanks to Moss Adams not […]

Some Guy Quit His Job at Baker Tilly and Left the City of Palo Alto, CA Without a City Auditor

Here’s one for you. The city of Palo Alto, CA is looking for a new city auditor after its last one, Kyle O’Rourke, resigned from his role at Baker Tilly on August 15. MP Vicki Hellenbrand informed the city about the resignation two days later. O’Rourke, a principal at the firm, has been serving the […]

Guidehouse is Buying Grant Thornton’s Public Sector Advisory Practice (UPDATE)

Ed. note: Internal email regarding the acquisition sent to Grant Thornton staff included below. This is a developing story. A tipster reached out to us this morning to let us know the rumor mill is churning over Guidehouse potentially picking up GTPS. “This took some people by surprise when they read about it on Fishbowl,” […]

Promotion Watch ’22: Forvis Admits First Class of New Partners and Principals; All Have Forward Vision

Forvis, the oddly named love child of BKD and DHG that was born on June 1, announced its inaugural class of new partners and principals, as well as new managing directors, last month. As far as we know, the 21 partners, two principals, and 38 managing directors in this year’s class all have eyes in […]

Promotion Watch ’22: Plante Moran Adds 29 New Partners

Fortune magazine’s favorite accounting firm promoted 29 new partners across eight service lines and 15 offices at the beginning of August. The new partner class of 2022 at Plante Moran is the firm’s largest in the last several years, surpassing the 24 in 2021, 25 in 2020, 16 in 2019, and 15 in 2018. Here […]

Listicle of the Day: INSIDE Public Accounting’s Top 500 Firms For 2022

If there’s anything we love here at Going Concern it is an accounting firm dick-measuring contest. Or a “pissing match” should you prefer a milder phrase. Whatever you call it, we love when firms are pitted against one another based on impartial metrics like revenue. INSIDE Public Accounting has blessed us with a fresh Top […]

Don’t Be Surprised to See Accounting Firms Aggressively Merging in the Next Year or Two

Have you heard? There’s an accountant shortage! This is probably coming as a shock to you but it’s true. Firms are trying all sorts of tricks to find and retain talent but the problem may be deeper than not having the right set of perks but rather an actual shortage of qualified talent. This issue […]

Which Firm Had the Most IPO Audit Clients In Q2 2022?

After a slow first quarter of 2022, initial public offerings didn’t take off in the second quarter either. In fact, the 46 IPOs in Q2 was the fewest since the first quarter of 2020 (38), and the $5.3 billion raised by those 46 companies that went public was the smallest amount since the first quarter […]

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This Firm Will Let You Leave Early on Friday (If You Have No Work)

IDK are we being overly cynical here or is this dumb? This feels a little like the “unlimited” vacation trap. If you think relaxed summer schedules were last year’s trend as big companies took gentle measures to steer employees back to the workplace, think again. Schneider Downs & Co. is embracing a policy that closes […]

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Rumor: Is Some Culture Drama Going Down at Grant Thornton?

We received a tip about a situation over at Grant Thornton that may or may not have any basis in reality but since the only time Grant Thornton ever gets mentioned here is to get made fun of over being so bad at auditing (it’s getting better OK!) we thought hey, let’s have a discussion […]

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The Talent Crunch is So Bad Firms You’ve Never Heard of Are Offering $7000 Referral Bonuses

LaPorte who? Well now you’ve heard of them. From New Orleans City Business: “Just like every other company and industry, we have felt the effects of the ‘Great Resignation,’” said Patty Paz, chief operating officer at LaPorte CPAs & Business Advisors. “We have worked hard over the last two years to put in place several […]

Weaver Has Snazzy New Digs in Houston

The Houston Chronicle has published some shots of Weaver’s new office in Houston, 66,000 square feet at 4400 Post Oak Parkway. Honestly? It’s not terrible. CEO and Managing Partner John Mackel told the Chronicle it was good timing that their lease came up in the middle of the pandemic. “We had a little bit more […]

Which Firm Had the Most IPO Audit Clients In Q1 2022?

The hardworking human beings at Audit Analytics have released their analysis of initial public offering trends and IPO auditor market share for the first quarter of this year, a period in which the number of companies going public was minuscule compared to Q1 of 2021. All told there were 84 IPOs on the New York […]

Moss Adams 2022 cloud breach

Network Security Experts Found a Way Into Moss Adams’ Cloud Network

We’ve learned this week that benevolent hackers found a vulnerability over at Moss Adams a few months ago and detailed their findings in a blog post on Tuesday. Via VPNOverview: VPNOverview’s security team in April discovered an improperly stored virtual machine (VM) image that belongs to Moss Adams, one of the largest public accounting firms […]

Elliott Davis and Whitley Penn merger

Davis and Whitley Get Shafted in Latest Accounting Firm Merger

There’s a new megafirm on the block and it’s called Elliott Penn LLP. Not quite as ✨dynamic✨ as Forvis but we can’t all have forward vision now can we? Since people are already getting dissed by this arrangement, here is the Whitley Penn press release and here is the same exact thing from Elliott Davis, […]

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SEC Slaps CohnReznick and Three Partners with Improper Professional Conduct

This press release from the SEC is wayyyy too boring to be rewritten in an interesting way on a sunny Friday afternoon so have some copy paste instead: The Securities and Exchange Commission today charged audit firm CohnReznick LLP with improper professional conduct on engagements for two clients in 2017. The two clients, Sequential Brands […]

Happy Forvis Day!

It’s official: Today’s the day BKD and DHG become Forvis. Today is a historic day as we begin serving clients as a top 10 professional services firm. Learn more from @FORVIS CEO Tom Watson and Chair Matt Snow: https://t.co/t5IW0BU97b pic.twitter.com/JcFMcz5xLD — FORVIS (@FORVIS) June 1, 2022 We hope everyone at Forvis has a great day […]

Marcum Gives Employees the ‘Gift’ of Summer Hours on Fridays

During a town hall meeting on Tuesday in which the marriage between Marcum and Friedman was confirmed internally before the official press release was slapped on Marcum’s website in the afternoon, Marcum Chairman and CEO Jeff Weiner announced that it’s almost time for all those busy season morale-boosting pizza parties to be replaced by new […]

Rumor Mill: Two Top 35 Accounting Firms (One In the Top 15) Are In Merger Talks (UPDATE: Friedman and Marcum Merger Official)

[UPDATE on May 3] The news we broke last week (scroll down) came to fruition today, as the merger between Friedman and Marcum is now official. Here is the press release from Marcum: Leading national accounting and advisory firms Marcum LLP (“Marcum”) and Friedman LLP (“Friedman”) today announced that they are in advanced discussions related to a […]

The Fortune 100 Best Companies to Work For: Crowe #67 (2022)

We’ve finally reached the end of our coverage of the 2022 Fortune BCTWF with Crowe at No. 67. After making the BCTWF for the very first time in 2018 and staying on the list for 2019 and 2020, Crowe fell out of the top 100 in 2021. We speculated at the time it might have […]

Let’s Mesh Other Business Buzzwords to Form the Next Big Accounting Firm Name

First off, I want to thank those of you who reached out to us on Wednesday about Forvis being the new name of the combined BKD/DHG firm. I’ve been sick with COVID since early Wednesday morning and haven’t cracked open my laptop until now. I still feel like crap but OK enough to do this […]

Marcum Leads Public Accounting In Posting Awkward Busy Season Pizza Party Photos on Social Media

Marcum employees are living that public accounting busy season stereotype one slice of pizza at a time. We're in the final stretch of the #taxseason. Our Fort Lauderdale office took a much needed break and gathered for happy hour while enjoying pizza and beer. #marcumeverywhere #funatwork pic.twitter.com/QJx0VBxD2R — Marcum LLP (@MarcumLLP) April 5, 2022 It […]

The Fortune 100 Best Companies to Work For: Plante Moran #30 (2022)

Here’s one takeaway from covering the Fortune 100 Best Companies to Work For rankings the last 12 years: A BCTWF list without Plante Moran on it just doesn’t feel right. But that has been a rare occurrence since the magazine started the ranking. In fact, Plante Moran is one of four companies (EY too) that […]

Updated List of Accounting Firm Average Partner Profits In the UK For 2021

Hey Grant Thornton UK partners, how y’all livin’? Probably not too bad these days, now that the average profit for those of you in the club went up 34% to £611,000 in 2021. With GT releasing its 2021 average partner pay yesterday, as well as firm profits and net revenue, we’ve updated our list of […]

How Did Crowe, Moss Adams, and Marcum Do In Their Respective 2020 PCAOB Inspection Reports?

If these inspection reports were like tests taken in a classroom, Crowe and Moss Adams would have received passing grades, while Marcum would have failed big time. Let’s take a look: Crowe The latest audit inspection results for Crowe show the 11th-ranked public accounting firm by revenue bombed 27% of the audits reviewed in the […]

For Now, Mazars Seems to Be Staying Put In Russia

You can add Mazars to the list of global accounting firms with offices in both Ukraine and Russia that have denounced Russia’s invasion of Ukraine and pledged to support their colleagues in Ukraine—financially and via other means. But unlike PwC, KPMG, EY, Deloitte, Grant Thornton, and BDO, Mazars doesn’t seem to be planning a move […]

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If Y’all Keep Quitting Your Jobs Like This You’re Going to Break the Economy

Before we get into the meat and potatoes of this article on Bloomberg Tax, I just want to call out the photo they used for the header. “Paraphernalia” got a chuckle out of me. OK so everyone and your mother knows by now that public accounting firms are struggling with a talent shortage. Regardless of […]

Rumor: BKD Is Going to Merge With Either DHG, Moss Adams, or Plante Moran Today (CONFIRMED: BKD and DHG)

[Updated below with information about BKD and DHG merger.] This came through the tipline a little bit ago: To be announced later today, two top 20 firms will merge and create a new top 10 firm. Our tipster proceeded to give us a hint that narrowed the field down a bit: It’s two praxity alliance […]

Does Any Blame Lie With Mazars USA In Trump Organization Financial Statement Mess?

The big news that sent shockwaves through the accounting profession on Monday afternoon was Mazars USA breaking up with longtime client Donald Trump and his company on Valentine’s Day, saying in a letter to the Trump Organization, which was included in a court filing, that “the Statements of Financial Condition for Donald J. Trump for […]

Some BKD Campus Recruiters Are Making the Great Escape

By now we are well-aware of the growing dissatisfaction among client-facing grunts at public accounting firms, many of whom are doing the jobs of two or more people this busy season as already understaffed teams become more depleted by the day due to people leaving their firms for greener pastures. But we haven’t heard much […]

Compensation Watch ’22: Mazars Opted to Give Employees a Mid-Year Raise Instead of Another Pizza Party

While our friends over at EY can’t get a sniff of a mid-year salary adjustment, another accounting firm decided to thank its employees with mo’ money instead of free pizza. We got confirmation over the weekend that Mazars USA leadership recently announced mid-year pay bumps for employees. Our source was a little skimpy on the […]

Promotion Watch ’22: Armanino Lets 24 Overachievers Into the Partnership

This year’s new partner class at Armanino isn’t light on the ladies. In fact, 13 of the firm’s 24 newest rainmakers are women. Sharon Bhalaru, Consulting, Austin Surbhi Bordia, Tax, San Jose Tom Brunton, Consulting, Dallas Noah Buxton, Blockchain, San Francisco Catherine Catherine, Business Management, Los Angeles Emily Conley, Audit, St. Louis Crystal Do, Business Management, Los Angeles Kathy Ferguson, Audit, Dallas Ryan […]

CBIZ CEO Slaps Everyone On the Back For a Job Well Done On Acquisition of Marks Paneth

A fairly big public accounting firm acquisition was announced earlier today, as top 11 firm CBIZ went shopping and picked up a Marks Paneth, ranked No. 43 in INSIDE Public Accounting’s top 100 firms list for 2021, reportedly for $81 million. With the acquisition, CBIZ is expected to gain an additional $138 million of revenue […]

Oh Look, CliftonLarsonAllen Is Ranked No. 1 In a Couple Other Things Too

As we mentioned last August, CliftonLarsonAllen—the love child of Clifton Gunderson and LarsonAllen—has been the most dominant public accounting firm that no one really cares about the past three years when it comes to serving clients in the construction industry. But apparently construction isn’t the only client base that C to the L to the […]

Compensation Watch ’21: Cherry Bekaert Gave Out Some Mid-Year Morale Boosters

During this time of year when there’s hardly anything going on because most of you have started your holiday break and are (theoretically) not doing any work and spending time with your family and friends, this news from a manager at top 27 firm Cherry Bekaert dropped in our lap last week: People have started […]

Compensation Watch ’21: BKD Is Handing Out Mid-Year Raises But It’s Anyone’s Guess As to How Much (NEW UPDATE)

[Updated on Dec. 22] Quick update on the folks at BKD. Apparently mid-year compensation adjustments were doled out on Dec. 17, and some BKDers posted their raises in the comments section. Based on what was posted, raises ranged from 2.3% to 4.2%. So, how did the rest of you fare? Let us know in the […]

Compensation Watch ’21: Crowe Is Full of Christmas Cheer

Three years ago this week, Crowe made the news for being fined $1.5 million by the SEC for its audits of Corporate Resource Services Inc., which can best be described in three words that are as follows, and I quote: “Stink, stank, stunk.” But this week, nothing but good news coming out of the Crowe […]

Compensation Watch ’21: Marcum Is Jumping On the Mid-Year Raises Bus

Marcum Chairman, CEO, and Going Concern fanboy Jeffrey Weiner must be feeling extra charitable during this season of giving, as he’ll be putting a little something extra in Marcum employees’ stockings on Jan. 1, 2022. A tipster provided us with this email that Weiner sent to Marcum employees today, with “Mid-Year Salary Increases” in the […]

Which Firm Was the Biggest Loser In the Third Auditor Shuffle of 2021?

Are y’all ready for the results of the third auditor round-and-round of 2021? OK. Here we go. It was another big quarter for BF Borgers, which added the most new SEC clients with nine while losing one for a net of eight, according to Audit Analytics’ third quarter audit gains and losses analysis. BF Borgers […]

Compensation Watch ’21: Is Plante Moran Rolling Out Salary Adjustments For the Masses? (UPDATE)

[Updated with additional comp information at the bottom of article originally posted on Nov. 22.] The answer is YES according to a tip we received last week: A few weeks ago Plante Moran announced to its employees that everyone is getting a January 1 market increase (separate from the normal market and merit increases that […]

Compensation Watch ’21: There Are Some Happy Folks At CohnReznick

I was scrolling through Fishbowl yesterday afternoon while I was watching that horrible Bears vs. Ravens game when this post caught my eye: At least those pay bumps are at or above current inflation levels, so that’s a plus. The thread continued … We hadn’t heard from anyone in the rank and file at CohnReznick […]

Promotion Watch ’21: Crowe Adds 45 New Partners and Principals

Crowe recently announced a slimmed-down class of 45 new partners and principals who will get their special light-up pens on April 1, 2022—compared to the 102 partners and principals who were promoted on April 1 of this year. Here are the 34 men and 11 women who will be constantly pestered by Crowe CEO Mark […]

Poaching News Roundup: 10.13.21

A recap of recent non-Big 4-on-Big 4 poaching news throughout the accounting profession. BDO Stefan Beyers joined BDO UK’s financial services team as an audit partner. He has a boatload of experience in audit and advisory engagements for banking and capital markets clients. He previously worked at PwC for 19 years, most recently as a […]

Which Firm Had the Most IPO Audit Clients In Q2 2021?

On this the last day of the third quarter, let’s take a look back at initial public offering activity in the second quarter of the year, which featured the biggest IPO since 2000 in terms of proceeds, according to Audit Analytics. There were 13 IPOs with proceeds greater than or equal to $1 billion last […]

There Will Be a New Boss at Moss Adams Next Year

A day after Grant Thornton announced its next occupant of the corner office, Moss Adams sent out a release on Sept. 16 saying who its next corner office dweller will be. The new boss of Moss starting next April is Eric Miles, a partner who currently leads the firm’s consulting practice and has spent his […]

Promotion Watch ’21: Marcum Adds 29 New Chairs to the Big Kids Table

Big news from the Marcum camp today, as 17 men and 12 women will now be able to hitch a ride on the special partners-only bus. According to a media release, this year’s new partner class is the largest and most diverse class in Marcum’s history. The firm admitted 20 to the partnership in 2020. […]

Number of the Day: 73%

Deloitte US made national headlines last Tuesday when CEO Joe Ucuzoglu told employees in an email that the firm “will require PPMDs and professionals to be vaccinated [against COVID-19] to access US Deloitte facilities,” effective Oct. 11, which led Adrienne to speculate that the other Big 4 firms will eventually fall in line behind Deloitte […]

Which Firm Was the Biggest Loser In the Second Auditor Shuffle of 2021?

The auditor round-and-round continued in the second quarter of 2021, with everyone’s favorite public accounting firm with a Lettuce Entertain You restaurant sounding name, BF Borgers, netting nine new SEC clients, the most of any audit firm, according to the Q2 auditor changes roundup from Audit Analytics. And as Accounting Today noted in its post […]

CliftonLarsonAllen Is Ranked No. 1 In Something

And that something has to do with … construction. For the third consecutive year, CLA has been named the top construction accounting firm by Construction Executive. It’s an honor to be recognized, & it speaks to our ability to help owners & managers address industry challenges & plan for financial success https://t.co/rE1m1zVntL pic.twitter.com/D1RhjZzyPX — CLA […]

Promotion Watch ’21: Plante Moran Admits 24 New Partners

Thirteen men and 11 women have earned their seats at the big kids table at Plante Moran. This class of newly minted partners is one less than last year’s 25, which may or may not have been a record amount. The new partners for 2021 are: Jaime Eckels, Auburn Hills, MI Dori Eggett, Denver Valerie […]

Number of the Day: $860,668

Things that are recession-proof during a global pandemic: Amazon Costco Netflix Alcohol Public accounting firms According to INSIDE Public Accounting, top-line growth for the top 100 public accounting firms this past year was 8.3%, which seemed like a pipe dream in March and April 2020 as the Rona was starting to rage in the U.S. […]

Listicle of the Day: INSIDE Public Accounting’s Top 400 Firms For 2021 (UPDATE)

[Updated original post from July 26 to reflect BDO USA taking over sixth place in revenue from Grant Thornton.] INSIDE Public Accounting just came out with its ranking of the top 400 firms in the U.S. based on revenue, and there’s two big changes in the top 10. The most notable change is BDO USA […]

Grant Thornton and BKD Have Better CEOs Than the Ones At Big 4 Firms, According to Glassdoor

Here’s a quick recap of where public accounting firm CEOs were ranked in Glassdoor’s 100 top CEOs in 2021, based on anonymous employee reviews and feedback: 47. Brad Preber, Grant Thornton, 94% approval rating 61. Ted Dickman, BKD, 93% approval rating 67. Tim Ryan, PwC, 93% approval rating 99. Paul Knopp, KPMG, 90% approval rating […]

Promotion Watch ’21: Wipfli Adds 19 New Partners and Principals

The other night I was watching the WGN Evening News when Wipfli partner Geoff Harlow came on to talk about the Extended Child Tax Credit. You can see his guest appearance below if you’re so inclined: But Harlow’s appearance helped me remember something else: I had the names of the newest class of do-gooders who […]

Promotion Watch ’21: Eide Bailly Gave 22 Lucky Boys and Girls Their New Partner Stickers

The new partner train keeps chuggin’ along. It stopped at Eide Bailly on May 1, when 14 men and eight women were given their keys to the partnership. This year’s class is a bit smaller than last year’s deification of 26 individuals to partner. The members of the class of 2021 at Eide Bailly are: […]

The Fortune 100 Best Companies to Work For: Plante Moran #91 (2021)

[Updated on June 11 with information about employee raises.] Plante Moran is the darling of the F100BCTWF, having made the list for the 23rd time; however, PM is dangerously close to dropping out of the top 100, falling from No. 21 last year to No. 91 this year. Despite the huge drop in the rankings, […]

Promotion Watch ’21: Baker Tilly Admits 24 New Partners

The Chicago-based public accounting firm with a guitar pick for a logo handed out 24 new memberships to the partner club on June 1, one more than last year. The 15 men and nine women in the Baker Tilly new partner class of 2021 are: Paul Bishop, CPA, Tax – Manufacturing and Distribution, Madison, WI […]

Promotion Watch ’21: BKD Adds 18 New Partners

TPTB at BKD have released the names of the firm’s newest class of partners who will officially be welcomed to the club on June 1. The 15 men and three women who will receive gift bags from Ben and Kate next week are: Jim Ashley, Springfield Brian Beiser, Denver Rick Carrier Jr., Evansville Meagan Clark, […]

It Doesn’t Take Much to Keep Moss Adams Interns Happy

All it takes, apparently, is to keep them hydrated.

Which Firm Was the Biggest Loser In the First Auditor Shuffle of 2021?

[Updated with corrected version of net audit fees won table from Audit Analytics.] With the first quarter of 2021 already in the books, it’s time once again to look at the winners and losers among the top 12 global and national accounting firms that participated in the first round of auditor musical chairs for 2021. […]

Mazars USA Is Giving Its Employees an Incentive to Get a Sunburn

By now you’ve heard or read about the $250 bonus PwC is paying to employees each time they take a full week’s vacation for the next year. Now Mazars USA is throwing its hat into the “pay your employees to go away” ring. Mazars sent an email to employees late last month explaining its new […]

Which Firm Had the Most IPO Audit Clients In Q1 2021?

The SPAC bubble didn’t burst during the first quarter of 2021. Of the 407(!) initial public offerings in U.S. markets between Jan. 1 and March 31, 298 (73.2%) involved blank check or special-purpose acquisition companies, according to a new analysis from Audit Analytics. In total, the 407 IPOs raised nearly $134.7 billion—an increase of more […]

Vault Accounting 50: No. 1 Firms In Quality of Life, Diversity, and Practice Area

Let’s put a bow on our coverage of the 2022 Vault Accounting 50 by listing the best of the best public accounting firms in 19 quality of life categories, diversity initiatives, and in three practice areas. The winners, according to Vault, are: Benefits: Schellman & Co. Business Outlook: Schellman & Co. Client Interaction: Plante Moran Compensation: Schellman […]

Mazars’ FY 2020 Global Revenue Wasn’t As Bland As Its New Logo

Last October Mazars made a huge deal about its new brand identity, including a revamped logo that we thought was as bland as paste. Maybe the firm could have added a little orange to it, ya know, in honor of its most famous client in the U.S. Whatever. It is what it is. But while […]

The Big 4 Could Use Some Auditing Lessons From Cohen & Co.

If Cleveland-based public accounting firm Cohen & Co. were an English Premier League goalkeeper, the firm would have gotten a clean sheet. Or if you’re not a fan of European soccer but like the NHL, Cohen & Co. would be like a goalie who finished the game with a shutout. In its 2019 PCAOB inspection […]

Here Are Two Contenders For the Biggest Turd of a 2019 PCAOB Inspection Report

Significantly screwing up half of your audits inspected by the PCAOB won’t get your firm included in the pantheon of worst PCAOB inspection reports of all time. RSM US beat that handily in 2017. BDO USA has had audit failure rates of 74% (2014), 67% (2016), and 65% (2013). Grant Thornton did a horrible job […]

Marcum Is Having a Bad Day on Social Media Thanks to a Rogue Senior Who Just Learned the F Word

Hey would you look at that, got some fresh drama to report. Just the thing to get this Monday officially started eh? A tipster informs us that drama is afoot over at Marcum LLP thanks to one naughty senior who tweeted some strong words to former Deputy Assistant to the President Sebastian Gorka. We aren’t […]

Which Firm Was the Biggest Loser In the Last Auditor Shuffle of 2020?

The fourth quarter of 2020 had some new winners and losers in the game of auditor musical chairs, as there were 16 new engagements and 41 client departures among the 12 major global and national audit firms between Oct. 1 and Dec. 31, according to Audit Analytics. Of the top 12 firms, Deloitte gained the […]

Which Firm Had the Most IPO Audit Clients In Q4 2020?

Audit Analytics has released its analysis of a very lucrative fourth quarter of 2020 for initial public offerings in the U.S. Including blank check companies, also called special-purpose acquisition companies, there were 210 IPOs between Oct. 1 and Dec. 31, 2020, which raised more than $65 billion. Compared to the third quarter, total proceeds in […]

Promotion Watch ’21: Armanino Gives Keys to the Partnership to 14 Lucky Boys and Girls

Jan. 1 was an extra-special day for eight men and six women at Armanino. Not only did they get to add “Partner” to their LinkedIn profiles, but they were a part of the largest new partner class in the firm’s history. Here are the newest partners who now get to spend more time sitting in […]

Promotion Watch ’21: Carr, Riggs & Ingram Adds 31 New Partners

From 2015 to 2020, the average size of new partner classes at Carr, Riggs & Ingram was 17. So I did a double-take when I saw the recent press release from CRI in my spam folder (my work email always thinks CRI press releases are spam for some reason) that the firm just added a […]

Grant Thornton Cuts Ties With Pornhub After Everyone Realizes Pornhub Is Full of Abuse and Illegal Porn

So I was gaming with the boys the other day and my buddy asked the squad if we’d seen the stuff about Pornhub. What stuff about Pornhub, you ask? I have to admit that Pornhub isn’t among my multitude of Google alerts (PwC? Yes. Porn? Not so much), therefore as with many things my teammate […]

Armanino Employees Were Made Whole For the Holidays

According to a tipster, here’s the latest news regarding employees getting their money back at Armanino, the 21st largest CPA firm in the whole damn nation: Back in April, everyone took a 10% pay cut as a result of COVID. Yesterday [Dec. 17], our CEO Matt Armanino announced during our fourth quarter webcast that the […]

Promotion Watch ’20: Crowe Names 104 New Partners and Principals

Whoa, wasn’t expecting this large a class of new Crowe partners and principals who finally get to sit at the adults’ table beginning on April 1, 2021. But I guess the firm is trying to impress the folks at Fortune by making a slew of promotions so it can stay in the 100 Best Companies to […]

Promotion Watch ’20: CohnReznick Has Three New Partners and Three New Principals In the Pipeline For Next Year

Feb. 1 is the day when new partners are deified at CohnReznick, and we already know about three, as well as three who have moved up the ranks to principal, who will be fed grapes by CEO David Kessler and fanned with giant leaves by COO Phil Mandel on the first day of February 2021. […]

Marcum’s Reopening of Offices Didn’t Even Last Two Months Before Everyone Was Sent Back Home to Work

Back in late September, we mocked celebrated the leadership of Marcum CEO Jeffrey Weiner who, pandemic be damned, told his troops that he wanted heinies in all seats at Marcum offices across the land on Oct. 1—even in New Haven, CT, where employees found out on Sept. 30 that one of their colleagues had tested […]

Listicle of the Day: Top Accounting Firms For Executive Women In 2020

These six public accounting firms can add “Working Mother Top Company for Executive Women 2020+ Winner” to the awards and recognitions portions of their websites and on their recruiting materials and other propaganda they hand out on college campuses: BDO USA U.S. employees: 7,693 % Female employees: 46% % Female corporate executives: 21% Deloitte U.S. […]

Promotion Watch ’20: Citrin Cooperman Adds 16 New Partners and Principals

All that sleep deprivation and those 15 extra pounds were worth it for the 14 new partners, two new principals, and 18 new directors at Citrin Cooperman. These 12 men and four women comprise the 2020 new partner and principal class at CC: Jeffery Alvanas, Partner, Boston-Metro Matthew Bart, Partner, DC-Metro Douglas Cammarano, Partner, New […]

Marcum Reminds Employees That Client Deadline Work Won’t Get Done By Itself During the Holidays and Pandemic

Happy Thanksgiving week! Because Adrienne and I are going to be taking some much-needed time off later this week (and hopefully you guys are too), our posting schedule is going to be a little lighter than normal. But do you know whose workload isn’t going to be lighter than usual this week and in the […]

Arthur Andersen & Co.

Promotion Watch ’20: Andersen Adds 14 New Managing Directors

This year’s class of new managing directors at Andersen is slightly bigger than the baker’s dozen added in 2019. So congrats to the eight women and six men (two of whom are Arthur Andersen alums) who are the newest apples of Mark Vorsatz’s eye: Chelsea Baron, Private Client Services practice, Metro New York Laura Berard, […]

CohnReznick Employees Were Made Whole Once Again

Got this tip earlier today: FYI, CohnReznick ended the temp pay cut and paid back the reduced wages. While we appreciate the update, the tipster was a little skimpy on the details. Back in early May, we reported that CohnReznick was cutting employee pay on a sliding scale as part of its pandemic uncertainty measures: […]

Moss Adams Poaches Someone From EY and Issues a Press Release, Parts I and II

Moss Adams went to the EY well to get two of its newest partners: Jeremy Kuhlmann and Syed Rizvi. Kuhlmann recently joined MA’s life sciences practice in Seattle: He has practiced public accounting since 2004, primarily serving life science, technology and advanced manufacturing companies. Kuhlmann has extensive experience with complex accounting and financial reporting matters, […]

It Seems Andersen Employees Are Getting Back the Money That Was Taken Away From Them (UPDATE)

[Updated on Oct. 28 with additional information.] A tipster provided us this week with a post-busy season update about the goings-on at Andersen, and it seems like good news all around: All offices and laptops were closed on 10/16 and 10/19 to give employees 4 days of uninterrupted time off. Then the following announcements were […]

Which Firm Had the Most IPO Audit Clients In Q3 2020?

There was an explosion of initial public offerings in the U.S. in the third quarter, with 165 companies going public between July 1 and Sept. 30, raising more than $61.5 billion—by far the most active quarter in 2020 and the most active Q3 in the past five years, according to our friends at Audit Analytics. […]

What Do You Guys Think of Mazars’ New Logo and Rebranding?

It’s been a while since a top 25ish accounting firm in the U.S. has rolled out a new logo and rebranding. Baker Tilly is the last one that I recall when it ditched the bird logo in late 2018 and went to a lowercase font for its name with a logo that’s in the shape […]

Tracker: These Accounting Firms Have Either Cut Jobs or Pay (or Both) During the COVID-19 Crisis

[Updated on Oct. 19 with information about BDO USA.] In case you haven’t noticed, there have been a lot of salary reductions and jobs lost throughout public accounting over the past couple weeks as a result of the coronavirus pandemic. And it sucks. So we’ve started compiling a list of firms that have resorted to […]

Marcum Has Positive COVID Case, Still Expects Employees to Come to the Office Bright and Early on Oct. 1

[Updated with additional information.] As I am writing this, it is 12:30 a.m. ET on Oct. 1. Happy first day of October, everyone. And happy return-to-the-office day for all of you Marcum capital market servants. Especially to the employees who work at the firm’s office in New Haven, CT. These poor folks still gotta come […]

Comp Watch ’20: Here’s What We’re Hearing About Raises at Crowe

From the mailbag: Crowe raises are occurring and effective 10/1. Wide range as low as 2% to as high as 15%. Promotion raises lower than typical 12%. No back pay or bonuses for missed time since April cuts. No 401k match. So when we reported back in April about the hundreds of job cuts at […]

Moss Adams Employees Get to Ditch Their Spreadsheets For the Holidays

Welp, it’s been another depressing day covering the world of public accounting. About 1,400 people lost their jobs at KPMG on Tuesday, and since the pandemic started, thousands of other Big 4 employees in the U.S. have been let go from Deloitte, EY, and PwC. Another firm that put its employees through the ringer a […]

CliftonLarsonAllen’s Leadership Pays Up

We heard some good news late on Friday for those serving the capital markets at CliftonLarsonAllen. From the tipline: Lost wages are planned to be paid back to all employees therefore making all employees whole for 2020. This will happen as of Oct. 19, our tipster added. It’s been an interesting six months for CLA […]

Marcum CEO Wants to See Those Cube Farms Filled on Oct. 1 (UPDATE)

[Updated on Sept. 23 with additional information.] Thanks to two sources, here’s the email Marcum CEO, Chairman, and Going Concern bestie Jeffrey Weiner sent to employees on Sept. 14 about expectations for returning to the office: Stay-at-home orders were put into effect in March as a response to the COVID-19 pandemic. Most businesses and schools […]

Promotion Watch ’20: Dixon Hughes Goodman Anointed 8 New Partners and Principals

TPTB at DHG announced last week the top 20 firm’s newest class of six partners and two principals. The class of 2020 is a bit larger than the seven who earned their stripes last year but smaller than the 13 new partners and principals in 2018, 11 in 2017, nine in 2016, 16 in 2015, and 12 in […]

Comp Watch ’20: Plante Moran Is Not Giving Out Raises—And Some People Are Not Pleased (UPDATE)

[Updated on Sept. 10 with additional information.] Back in late June, we were told that Plante Moran employees wouldn’t be getting raises this year, that the firm was only paying out bonuses at 75%, and that there wouldn’t be a 401(k) match, presumably due to the COVID-19 crisis. Well, we got an update this week […]

Promotion Watch ’20: Marcum Admits 20 to Partnership

Marcum Chairman and CEO (and Going Concern’s biggest fan, so we’re told) Jeffrey Weiner deified 20 new partners on Sept. 1. The class of 2020 is larger than last year’s class by four partners, so some obnoxious little virus wasn’t going to stop Weiner & Co. from handing out more golden tickets this year. Here […]