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Finally Having Something to Roast Them About, KPMG CEO Takes This Opportunity to Talk Sh*t About PwC

Posted on by Adrienne Gonzalez
Businessman with carton head bullied by fingers. isolated on white background

A quickie from Sydney Morning Herald on yesterday’s Senate committee hearing in which KPMG Australia CEO Andrew Yates took the opportunity to throw some barbs at PwC while he has the chance:

KPMG boss Andrew Yates publicly rebuked PwC for the tax scandal that is impacting the entire multibillion-dollar financial consulting industry while apologising for his firm’s own failings, which include 1000 staff cheating on an exam about acting with integrity in their work.

Yates told a Senate committee on Wednesday that it was essential that government can have absolute trust in the private sector companies it works with.

“That’s why the PwC issue is so disturbing. Based on the findings of the Tax Practitioners Board, and the more recent revelations from Senate estimates, the conduct at PwC was clearly unethical and unacceptable,” he said.

He added that had KPMG been in the same position, the firm would have released the names of any staff involved. “There would have been strong action taken by our chairman and board, and subject to any legalities that I’m unaware of, the names would have been shared,” he said.

PwC tax scandal disturbing and unacceptable, says KPMG boss [Sydney Morning Herald]

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More KPMG Comp News: For Some In Chicago, Expectations Are More or Less Met

Some of you may have heard enough KPMG compensation news but judging by traffic patterns, most of you have not. And reports are still coming in, so it’d be a disservice to keep you in the dark.

The latest news out of Chicago:

This info is for Chicago, Audit. Most of us had our talks Thursday or Friday, however I hear that some are still continuing into Monday.

A2 to SA1, SP+ rating, received 10% raise and 2% bonus. Same level, EP rating, received 13% raise and 5% bonus. I am also finding out that SP vs. SP+ has no difference at all. This is based on a salary of $56,000 which was our original starting salary (also included a $5000 sign on bonus) as we received no raise last year. This is pretty much in line with what the now S2’s received over the past couple years, as they got 5% raise after their first year and 5% raise for being promoted to senior last year when everyone’s salaries “stayed flat” as my partner put it. What I would really like to know is what A1’s to A2’s received, as last year they had the same starting salary and bonus as what I began with, so they were essentially making more than A2’s for an entire year due to the bonus.

SA 2 to SA3, EP rating, 8% raise and 5% bonus. My managers also don’t seem to excited, but I obviously did not ask them what their actual numbers are.

I believe everyone on my team feels this is what they expected raise wise, but are rather disappointed with the bonuses. Some additional information, raise numbers are consistent across all business units within the office.

It’s also our understanding that convos are still going on in New York this week, so continue to keep us updated.

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