September 24, 2022

Monday Morning Accounting News Brief: Yes, There’s Still a Shortage; PwC Probe; Puppers Hate EY | 8.15.22

Since February, 29,500 EY employees have gotten the firm to pay their commuting costs, all dependent care costs and all pet care costs so they can be back in the office, these reimbursements totaled $22 million for the year to EY’s FY year-end in July. The Times Record in Maine writes about the accountant shortage: “They’ve spread the word out of desperation,” Trish Brigham, executive director of the Maine Society of Certified Public Accountants, said of the growing number of towns struggling to find help with their audits. “‘Do you know anybody; do you know anybody?’ There just aren’t enough people with the accounting credentials and skills to service the demand.” Finding finance talent is getting harder, with 82% of big employers saying they are struggling, according to Deloitte. Accountants behaving badly: Pharmacy owner and accountant indicted again in $150M scam; Former Accountant for Chicago Construction Company Charged with Embezzling Millions in Company Funds. Refinery29 spotlights a day in the life of an accountant making £35,530 per year. EY and KPMG cheating scandals expose ethical challenges for audit industry. Hong Kong accounting watchdog launches second probe into Evergrande and PwC. Now the government can take its time prosecuting PPP loan fraudsters.

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Summer will soon be over and with many of you returning to office it’s a good time to think about how not to get fat in the months ahead. Grab your Nalgene and fill that puppy up with ice cold water before you dive in to the latest from C.P. Aiden: Returning to the Office? Don’t Get Fat! (Again)

ICYMI: last week NJCPA held a webcast on The CPA Pipeline: Challenges and Opportunities for the Profession. There’s a replay this Thursday and if you watch, you’ll get to see at least part of my rubber duck collection in my office as I was one of the panelists. Longtime profession veteran Jerry Maginnis was also on the panel, we’ll be reading his book “Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities” in coming weeks.

Here’s what we’re working on this week:

  • Updating some old salary articles with current figures
  • Diving into hot (and not hot) credentials for accountants
  • We’re continuing to monitor the accountant shortage as it worsens
  • We got our hands on a big EY salary dump (if you know, you know)
  • Crazy ideas to get more people to take the CPA exam (24 month window, anyone?)
  • Did you know? Burnout physically changes your brain
  • Let’s help someone on Fishbowl find a girlfriend

Lastly, here’s a vid to melt your anxiety. Stop putting The Office on as background noise while you’re working and relax to this, you need it. Hope everyone has a great week!

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