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September 24, 2023

TLDR

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Layoff Watch ’23: Deloitte UK Cuts More Than 800 People Because Business is Slow and People Aren’t Quitting

Reported earlier today by Financial News, Deloitte UK is cutting approximately 3 percent of its workforce or more than 800 people. The cuts are concentrated in consulting, financial advisory, and risk advisory though a few audit and business services folks also got the axe. FN cites slowing demand in the second half of the year […]

homework and an open book

KPMG Canada Research: 60 Percent of Students Think AI Is Cheating, 52 Percent Use It For Schoolwork Anyway

KPMG Canada has surveyed a bunch of Canadian students over the age of 18 about generative AI and found that while many of them are using AI to help with schoolwork, still more think that’s cheating. Unsurprisingly, educators don’t seem to be using AI in the classroom to the extent their students are for their […]

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Rejoice, IPA Has Dropped Its List of ‘Best of the Best’ Public Accounting Firms

The ranking enthusiasts at INSIDE Public Accounting have dropped their much-anticipated 2023 Best of the Best list and because there’s nothing we at Going Concern love more than a dickrevenue-measuring contest, we are thrilled to share the results with you. First, let’s get the “what even is this list” explanation out of the way. Best […]

stacks of money to represent corporate payroll

Unsatisfied With Her $140k Salary, Law Firm Controller Gave Herself a Raise

In a little law and order news courtesy the Department of Justice, a law firm controller has pleaded guilty this week to inflating her payroll amount by $1.48 million over the course of three years. Her annual salary, her real annual salary, was approximately $140,000. Way to take the fight against low wages into your […]

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These 10 Tips for Successful Accounting Firm Recruitment Aren’t Terrible At All

Thomson Reuters put out a quick guide on recruiting accounting talent in current year based on responses gleaned from their 2023 State of the Tax Professionals Report and you know what it’s not bad. It’s a refreshing break from the articles that imply ESG is more important to young people than being able to pay […]

D grade in red ink on lined paper

EY’s Getting Ready For Bad Grades From the PCAOB For Overseas Colleagues’ Work (Allegedly)

Apparently someone inside EY blabbed to Financial Times about the current state of EY audit quality and the firm “expects more failing grades” from the PCAOB specifically related to work performed offshore for US-listed clients. Their last inspection wasn’t so great, the PCAOB identified deficiencies in twelve of the 56 audits inspected for a deficiency […]

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Google Searches For the Word ‘Delayering’ Up 558% Since Today’s EY Global All-Hands Call

Apparently there was an EY Global all-hands today and at some point during it, leadership mentioned an important tidbit of information and then promptly breezed right past it. A tipster tells us: EY all hands, people do not seem happy. Staff on the call were told the firm will be focused on ‘delayering’ in fiscal […]

exit sign on a mountain highway with fog

Just How Many People Left Big 4 Firms Last Year?

Just how many people left Big 4 firms — voluntarily or not — in 2022? About 56,600 according to this CFO Journal piece published on WSJ this morning. For this year, the number is about 21,400 through June, a 11.6% drop from the same period the year prior. That’s from workplace data analyzed by Revelio […]

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‘Lockdown-Damaged’ New Hires Struggle to Socialize at KPMG UK

KPMG UK is joining Deloitte and PwC in adding soft skills and professional basics to the firm’s new hire training, having noticed the recruits are lacking in “people skills” critical to hack it in public accounting. Why is this new crop so devoid of interpersonal intelligence? While us older working adults were getting fat and […]

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PwC Goes on Record to Say There Will Not Be Layoffs (Not Loud Ones Anyway)

One of the hundreds of local Business Journals wrote yesterday about layoffs in our sector, those layoffs being KPMG’s 5% cut announced Monday, Deloitte laying off 1200 or so people in April, and EY’s 3000 layoffs that coincidentally happened shortly after Everest fell apart but had nothing to do with Everest falling apart (according to […]