You may have heard a few stories about a little campout going on down on Wall Street the last week or so. It’s been quite a ruckus and now Hizzoner is even getting a little tired of it. Despite the good, the bad and the hippies, all this standing up and shouting and whatnot seems to have inspired one “disenchanted” Deloitte auditor who sent u
I know that I work for my firm in an at will contract, I can quit at anytime and get another job. But I’ve been feeling so slighted for the last several months by leadership’s complete lack of concern for the well being of their workforce that I want to do something more significant. If I quit, some managers will be temporarily upset because my hours will need to be replaced, and they will find someone who doesn’t have the same experience with the client etc. They will get over it in a day, and the giant audit machine will keep turning the same as always, and employees will continue to get the worst of it.
But this is America, we are champions of workers’ rights. Can’t we do a little better than this for ourselves? I understand that with unemployment currently so high this isn’t really a time when workers’ rights are a high priority, but we still deserve better treatment. With Deloitte still swelling based on last weeks’ figures, and loving the attention in the media for being a model of a growing global enterprise their vulnerability becomes clear. They would hate bad press or anything that would stunt growth.
This is why I think an organized but non-unionized strike/walkout, perhaps around, I dunno, the upcoming busy season, would be very effective at getting leadership’s attention. I know I’m no Cesar Chavez, and a white collar walkout it rare thing, as white collar unions are uncommon, and that this is something that would be difficult for generally conservative accounts who are typically anti-union to get done. But I figure, if there is any forum where this sort of movement would/could begin it would be on Going Concern where people are more openly cynical and feel just as disappointed with Deloitte’s version of an audit practice as I do. Not sure who would actually put their careers on the line because I doubt most really believe in the cause, but I think they feel the same sentiment. It would be interesting to hear the true anonymous thoughts of others on this idea, and if there are any brighter ideas on reminding firm leadership whose backs they are standing on to potentially improve the livelihood of those backs. What do you recommend?
Well, Cesar, I do have a few recommendations for your planned walkout. First – take pictures. Lots of them. And then send them to us. Secondly, get a noisy instrument. Preferably a drum or vuvuzela. If you have to do this mission solo like you think you will, you’ll need some help in the noise department. Third – a costume of some sort – I’m thinking Benji Bankes – would advisable and then be sure to incorporate suggestion number one. Fourth – read Adrienne’s post from this summer on why this is an awful idea. The whole thing is worth a read but here’s a taste:
I think part of the reason why anyone you suggest this to might think you’re one tax season away from the funny farm is that CPAs already have a large, powerful trade association which allegedly exists to serve its interests. Granted, the AICPA does more lobbying in Washington than it does to accounting firm partners about easing up on you poor shlubs who have to do all the work, but it’s still a trade association.[…] [T]hough it may not feel like it, most of you are paid pretty fairly compared to, say, McDonald’s cashiers, Starbucks baristas and Walmart greeters. It may not feel fair based on the service you provide (understandably) but in the big picture, making $50,000 a year fresh out of school in middle America ain’t too bad of a gig. You get vacations, safe work conditions, bonuses, insurance and even free CPA review materials if you’re lucky. I bet OSHA has never seen the inside of a Big 4 office to investigate a fatal Excel accident or random intern decapitation at the coffee machine.
Maybe I’m wrong but the leaders of these firms would love – LOVE! – if you wrote them an email about your concerns. If the response you get sounds canned, then there’s nothing wrong with saying so. Your partner may catch some heat (that will eventually blow back on you) but Dr. Phil and JoeE aren’t really doing their jobs if they simply dismiss the widely held concerns of the Green Dot community. If you’re feeling inspired enough to rally some fellow opiners, make some signs and sit on the sidewalk shouting, then by all means do so but do keep in mind that you will end up in these pages, may be permanently confined to a JIT or straight up lose your job. Just some things to mull over.
“There are already examples of AI solutions capable of performing 90% of the audit process, he added.”
Did he elaborate on this or nah?
This looks like a marketing ploy to me.
AI may cause some “trimming at the edges” of B4 business, but that’s all I expect.
Word to the wise, develop professional judgment. AI hasn’t embraced this concept well at this point, but in the next several years we will see AI replace humans who lack professional judgment. I’m sure that certain firms are already looking for a good reason to purge those who don’t follow rules and procedures. Don’t make it easy on your leadership.
Totally. It’s cliche to say but yeah, professional judgment and communication skills are going to be critical. Salesmanship, too. Used to be if you could go along to get along, do your busy work, and not cause trouble you could get your two years and dip but now all that work is shipped overseas and/or automated so there has to be some other defining factor.
I think we’ll start to see firms drastically shift away from hiring accounting grads altogether. They’ve already sort of been doing that for years.
I think this guy has spent zero time in audit and would be very hard pressed to explain current processes/procedures, much less how AI will impact same.
I’m kinda thinking the same thing. Regardless, plenty of clients will spend the $$ on getting a “premium” opinion from prestigious firms–whether or not you think B4 audit work is superior, the name matters to some companies. I don’t see that changing any time soon, AI or no.
Big4 here … The senior P’s have a mega hard on for anything that is AI related – only problem is they lack the technical skills and understanding as it relates to the limitations associated with the use of the technology. LLM’s are token tumblers – they basically spit out the next most probable token (which is often a word or part of a word) based on the input in the context window – and we all know they can hallucinate big time. The key point here is the flawed assumption that: more AI = less people = more productivity = more profit = more units. Don’t think they’ve taken they’ve taken into account the associated risks though.
Does AI have the ability, combined with other technologies, to automate low level tasks that don’t require critical thinking? Sure thing … Will AI replace a tax expert who spends countless hours coming up with convoluted TP agreements? Don’t think so. Will AI result in chatbots that interact with the IRS to defend client’s interests / positions? Don’t think so either.
Lots of hype right now around the tech – it has advantages, but like anything in life, it ain’t perfect – it’s a tool – and you gotta know when to use the tool, and what it’s good for.
We have a bunch of A’s and SA’s using AI to auto generate work and the result is usually complete and utter garbage – sure it reads welll initially – but when you dig deeper there’s no way you’d be able to defend it in audit … it just gives them an excuse to cut corners to generate work product and they just don’t have the skill to interpret the result.
AI agents are already implemented in audit tools, so it for sure reduces monkey job audit routines.