“can i ask why we just hired three people and have one intern for audit and then two of them are going to Rome for trainig [sic]???”
Yes, you can ask. We’ll put it out to the group. Thoughts?
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PwC Poaches Someone From EY and Issues a Press Release, Part III
Hundreds of people have bolted EY to join PwC in different locations around the world […]
(UPDATE) Big 4 Technology: Open Thread
Editor’s Note: Francine McKenna is a regular contributor to Going Concern
We recently received a tip about KPMG implementing a new risk management system for vetting potential clients and engagements. The new system was put in place around the time of the second round of layoffs and according to our tip, things did not go smoothly.
Simply put, it didn’t work. Since the whole risk management thing is a big deal for any accounting firm, people were working day and night to try and get it fixed. Did we mention the layoffs? Right. They occurred right when this whole SNAFU was occurring.
Our source described the risk management process as a “total nightmare” for basically two weeks. Good news, is that things seem to be back to normal but it sounds like it was pre-tay, pre-tay hairy for a while there.
Most accounting firms, especially the Big 4, are heavily dependent on the efficient functioning of their technology. But, aside from reading this fine publication, you probably spend a good chunk of your time dealing with tech related headaches.
Firms trying to go paperless, firms still using Lotus Notes, and we’ve heard that KPMG is currently upgrading its basic operating system to run on…Windows Vista.
On the positive side, Deloitte is issuing iPhones and that’s basically all we got…
We asked our contributor, Francine McKenna for her thoughts on the Big 4’s investment in technology:
The Big 4 operate under the “shoemaker’s children” doctrine when it comes to their own technology infrastructure. Every once and a while you’ll see a big splashy investment but partners loathe spending their potential payout on common goods, and investments for the future: “If I don’t understand it or perceive a need for it, I don’t want to spend any of my money on it.” Very few of the rank and file partners understand or appreciate the firm’s technology infrastructure needs.
Discuss your firm’s technology (or lack thereof). The good, the bad, the stuff that makes you want to drop kick your laptop out the window.
Deloitte Consolidating Pacific, Central Regions
Deloitte CEO elect Joe Echevarria has informed the partners that a little bit of restructuring will be going down when he takes the big chair next week. The Pacific Southwest and Northern Pacific regions will create a new West region while the Midwest and North Central regions will form a new Central region. The three remaining – Northeast, Mid-America, and Southeast – will remain as is.
Optimizing our regional structure
To: The partners, principals, and directors of Deloitte
When I shared my overall organizational structure with you in February, I noted that I would make the development of the right management model for the regions a priority. Just last week, the Board ratified the decision to move from seven regions to five for FY12 onwards.
We will combine Pacific Southwest with Northern Pacific to create a new West region. By combining Midwest and North Central region we will create a new Central Region. Northeast, Mid-America, and Southeast regions are unchanged.
This decision is the outcome of a comprehensive, strategic review led by Chet Wood, leader of Markets and Offerings. The review was inclusive, with input from many perspectives, including LCSPs, line partners from each FSS, OMPs and RMPs, FSS CEOs and other members of the U.S. Executive. We looked at the regions through the strategic lens of our Lead from the Front framework, to determine how, at this time, we can best align our organization model to the external marketplace.
We carefully considered the different roles regions and offices play for each of our businesses; while many of our non-regulated services are increasingly delivered nationally, regions are critical to the service delivery of our Audit, Tax and DGES practices. Our review also considered factors such as the impact on spans of control, leadership and development opportunities, community-building and sense of partnership, infrastructure costs and speed of implementation. We defined the regional model that will best drive client and business growth, improve our strategic positioning, and strengthen our performance.
The new structure is effective from the start of FY12, although some tactical aspects of implementation may take longer to complete. I have asked Anne Taylor and Gary Tabach to lead the succession process for the West RMP, and Mark Edmunds to lead the process for the Central RMP.
With this improvement comes new opportunity. It’s up to us to realize it and turn our new regional structure to a business advantage. In every region and in every market where we operate, we must continue to widen the gap between us and our competitors, strengthen our position, and ensure that we stay out ahead of change. That is how we will continue to lead from the front.
Joe Echevarria
U.S. Chief Executive Officer Elect
Deloitte LLP
Since we’re not intimately familiar with the hierarchy at Deloitte (e.g. “Regional Partner Leader of M&A Advisory Services” or “Area OMP Chief Leader of Regional Assurance”) these changes will probably mean some jockeying for spots amongst partners effected by the consolidation. And since some regional leaders within the firm (i.e. Talyor, Tabach and Edmunds) will be watching over this process, maybe there will be potential for some interesting developments.