Hey. Got some news for you so you have something that isn’t politics to talk about at the water cooler.
In this news brief
PwC Will Certify Thinkers
Bloomberg Tax has the scoop on PwC’s latest, and probably most important, training:
PwC’s US arm is launching a critical thinking certification for its more than 85,000 partners and staff as artificial intelligence tools transform the professional services firm’s everyday tasks.
The program includes personalized simulations to help people practice what they learn. An employee, for instance, could be tasked with reviewing an AI-generated assessment of a company’s internal controls for assurance, identifying any deficiencies, and challenging the tool’s conclusions, PwC US Chief People and Inclusion Officer Yolanda Seals-Coffield told Bloomberg Tax.
That’s a Big Number
CFO.com wrote up a PCAOB order we missed:
Federal regulators have ordered Los Angeles-based tax and audit firm Macias Gini & O’Connell LLP to pay a $500,000 penalty for allegedly violating auditing and quality control standards.
In a Nov. 3 enforcement order issued by the Public Company Accounting Oversight Board, the agency said the violations were connected to two audits for a California biotech company that sold consumer beauty and health products and declared Chapter 11 bankruptcy protection in August 2023. That firm was identified only as “Issuer A” in the order.
PCAOB order is here if you want to read more.
“People Who Want to Do the Right Thing Should Be Supported to Do So”
Filed under: one more thing that’s come about due to KPMG getting things wrong Down Under:
The Chartered Accountants Australia and New Zealand (CA ANZ) and the Human Rights Law Centre’s Whistleblower Project have published a new guidance for accountants considering whether to report suspected misconduct.
The resource outlines the rights, protections, and responsibilities that may apply when a Chartered Accountant raises concerns.
It is intended to help CA ANZ members interpret Australia’s whistleblower laws and their interaction with professional ethical duties.
“The reality is that many whistleblowers still face uncertainty and significant personal risk when trying to do the right thing. Australia’s whistleblower regime should make it easier, not harder, for people to safely raise concerns about serious misconduct. People who speak up in the public interest deserve confidence that the system will support and protect them,” said CA ANZ Chief Executive Officer Ainslie van Onselen.
Social Media Comments Get One Accountant In Trouble
The mayor of a suburb in Quebec, who is also a licensed accountant, has been punished for social media comments:
The mayor of a Montreal-area suburb posted online comments about Palestine that were “violent in nature” and have no place in society, said the disciplinary committee of the Quebec order of professional accountants in a new ruling.
The disciplinary committee said it was ordering Hampstead Mayor Jeremy Levi to pay a $30,000 fine and undergo mandatory training, noting that his comments posted on social media in 2024 and 2025 undermined the reputation of the accounting profession.
The committee launched their investigation after receiving a complaint about more than 20 social media posts Levi had made about Palestine and pro-Palestinian activists. These included him speaking out against the recognition of a Palestinian state, and criticism of what he described as “terrorist sympathizers” or “the pro-Hamas mob.”
“I recognize that these publications became a source of controversy and gave rise to concerns among members of the profession and the public.… I am genuinely sorry for the concern and disruption that this matter has caused,” he told the disciplinary council on Oct. 26.
The town he’s from, Hampstead, has the largest Jewish population of any city in Canada.
Problem For Them, Opportunity For Everyone Else
Small firms are taking advantage of the Big 4’s recent reputational issues, says SmartCompany:
Terence Jeyaretnam AM is a former EY partner and executive director at boutique consultancy Foresight, which employs around 25 people.
Jeyaretnam told SmartCompany the issues surrounding PwC and KPMG had created “quite a significant opportunity” for smaller consultancies like his.
He said clients were increasingly reconsidering their relationships with the Big Four, opening the door for firms like Foresight to win more government work.
Government contracts currently account for about 10% of Foresight’s revenue, but Jeyaretnam expects that figure to reach 35% within a few years.
That’s all I’ve got for today, bit quiet out there in our corner of the news world. Email or text if you have a tip or story for us and have a good week, you.