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KPMG building but upside down because Australia

Scandal-Embattled KPMG Australia Hits Up the Global Body to Borrow a Few Bucks

This information comes from Australian Financial Review so it's legit: KPMG Australia is seeking up to $100 million in emergency loans from the firm’s global network as well as a…

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Deloitte Saw Another Year of Single-Digit Growth, a Respectable $74.5 Billion in Revenue

It's revenue season! Traditionally Deloitte is first to report and report they have: $74.5 billion in global revenue (unaudited). Last year, the firm was the first Big 4 to cross…

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EY GDS Philippines Turns 11, Celebrates By Planning to Hire An Additional 2,000 People

EY's global delivery machine in The Philippines is marking 11 years this month and as a treat, they're apparently adding 2,000 more people to its roster of more than 6,000…

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Revenue Is Down For the First Time in 17 Years But at Least Partners Got a Raise at PwC UK

Looks like offshoring and layoffs couldn't save the King's PwC from a revenue slump this year. The firm has just reported revenue of £6.2 billion (approximately $8.28 billion USD), a…

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EY building exterior

EY Got the Big Pentagon Audit Job

This according to what the Department of War put up yesterday: Ernst & Young LLP, New York, New York, is being awarded a labor-hour contract with a maximum value of…

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News

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Georgia Accountants Picked a Fight With Hunger and Won

Who wants a bit of good news? Algorithms would have you think the answer is NO ONE but we all know the real answer is EVERYONE. The Georgia Society of…

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KPMG building but upside down because Australia

Scandal-Embattled KPMG Australia Hits Up the Global Body to Borrow a Few Bucks

This information comes from Australian Financial Review so it's legit: KPMG Australia is seeking up to $100 million in emergency loans from the firm’s global network as well as a…

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Monday Morning Accounting News Brief: KPMG Learns It’s Good to Have Friends in High Places; One Step Closer to Robots Taking Over | 10.5.26

Good morning, capital markets servants. Hope you got some rest and are ready to tackle another exciting week of keeping the global financial system chugging along. In this news briefUh…

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Friday Footnotes: Deloitte Predicts AI Will Prop Up a Blah Economy; Wait, Hostages Were Racking Up Tax Penalties All This Time? | 10.2.26

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you're here, subscribe to our newsletter to…

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RSM Is Allegedly Thinking About an IPO

And according to the source or sources blabbing this to Financial Times, it's because their rivals are all getting bought up by private equity. By rivals we of course mean…

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Technology

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Bill Gates Predicts AI Will Be Taking Clients’ Most Tedious Questions 24/7 Within a Few Years

Did you catch Bill Gates' recent chat with Ezra Klein? I didn't, thankfully my washed colleague regularly reads NYT and sent it to me via Slack. Many people are stuck…

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The AICPA Wants Tax Pros to Take a Hit From Its New AI Risk CART

Rather than dropping a strongly worded letter on the topic of the IRS's position on AI in tax practice and dropping the topic there to focus on other pressing matters,…

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Deloitte Survey: A Lot of People Are Using Clandestine AI at Work

As corporations everywhere shove AI down our throats and businesses wrestle with the conflict between rushing to integrate AI to not be left behind and having to pay for it…

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Bill Gates Proposes a Tokens and Robots Tax

Bill Gates has written a loooong essay on AI covering all sorts of things from potential benefits to immediate concerns. Feel free to read the whole thing if you'd like,…

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Firms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AI

The comment period for PCAOB Release No. 2026-005 Request for Public Comment on PCAOB Standard Setting has closed and when all was said and done, it racked up an unremarkable…

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Practice Management

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Expense Management: Because Apparently Clients Will Pay You to Make Expense Reports Suck Less

Spend and expense management is one of the most in-demand CAS services—and one of the most underutilized. There’s still plenty of room to get into the game. Clients are drowning…

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For Firms, Growth is Down But Profitability Is Up

That's the headline from INSIDE Public Accounting based on the results of their 2026 Practice Management Report: The report draws on survey responses from 605 North American accounting firms, spanning…

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AICPA Pushes Back on IRS Suggesting CPAs Should Charge Less If They’re Using AI

Back in June the IRS Office of Professional Responsibility (OPR) issued its first solid AI guidance in the form of a bulletin titled Introductory Guidelines for Responsible AI Use in…

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Top Remote Tax and Accounting Candidates of the Week | October 16, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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Top Remote Tax and Accounting Candidates of the Week | October 2, 2025

Struggling to Find Remote Accounting or Tax Talent? We’ve Got You Covered.If your firm or internal team is having a tough time sourcing qualified remote tax and accounting professionals, you're…

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Quick Reads

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Here Are Tax and Audit Salaries at Top 25, Top 300, and Regional Firms

Recruiting firm Brewer Morris has released its 2025 US CPA salary guide and should you want to read the whole thing you can request it from them here. Perhaps you,…

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Friendly Reminder Not to Work Yourself to Death For This Profession

Saw this on the bird app yesterday and thought its message would be worth passing along what with 20 days remaining until April 15 and nerves as strained as ever…

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Accounting Firm Abruptly Nopes Out of Tax Season Early (UPDATE)

Ed. note: An earlier version of this article's headline stated the sheriff is investigating. The Alexander County Sheriff's Office informed us they are not investigating, only fielding calls from the…

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This Deloitte Office Has Eliminated Trash Cans at Desks to Make Staff Get Up Off Their Asses

Boston Business Journal wrote an article about Deloitte's new office in Boston and for some reason they chose to lead with this: You won’t find trash cans at the desks…

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The IRS Decided to Troll Tax Pros For 10/15

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Expense Management: Because Apparently Clients Will Pay You to Make Expense Reports Suck Less

Spend and expense management is one of the most in-demand CAS services—and one of the most underutilized. There’s still plenty of room to get into the game. Clients are drowning…

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Top Remote Accounting Freelancers: February 3, 2024

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled…

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10 Essential Project Management Principles for Accounting Firms

Every accounting firm struggles with project management, with smaller practices that are rapidly expanding taking the brunt of the damage. As your firm adds new clients, takes on more work,…

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6 Ways Email is Secretly Destroying Your Accounting Firm

Email: The word itself sounds innocent, doesn't it? Kind of like "snail mail," but faster, sleeker, and without the slimy trail. But don't be fooled—email is secretly a sinister beast,…

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Deloitte Polishes Its Online Recruiting Presence but Who’s Listening?

A few weeks back I talked about the flashy websites the Big 4 have invested in for recruitment purposes. For those of you DT’ers still wondering where your raises went, the answer is now clear.

Facebook, Twitter, YouTube, and a brand new (interactive!) recruitment website. DT is completely revamping their online presence.

Seemingly launched the same week as PricewaterhouseCoopers’ personal branding campaign, DT’s overhaul is much more comprehensive. The Twitter page already boasts 1,500 followers; its unique twist is that employees take turns tweeting about their daily work. Interesting approach, only if you remember to log in to the Twitter page and read the biography of the weekly tweeter.


Deloitte’s YouTube approach is similar to that of KPMG’s established page; clean and consistent website hosting professional videos. One of the videos, entitled “What if your work mattered to the world,” delves, umm, deeply into the importance of cow manure on the job. Taking the term “shitty job” quite literally, I suppose.

Finally, everything is nicely tied together with a flashy site showcasing – shockingly – its youngest and brightest employees. Stories, videos, and links to various DT pages make working for the dot seem downright enjoyable and fun.

The question remains, though – who is this targeting?

From my brief experience on the sites, there’s still no direct way to contact the recruiter responsible for a particular school (PwC boasts the only clear option). There’s no way to ask questions, request feedback, contact the recruiter who’s business card just went through the wash.

This maneuver of hiding behind a flashy website is a running theme for corporate recruiting websites. Why? Why not? The employers hold the cards. The recruiters mailboxes are already overflowing. And if you’re a top student on campus, trust me, the recruiters will find you. So why the website?

See the Joneses out there in front? Yup, better go catch them.

We’re still at a point in the social media world where no one really knows what works best. Facebook has been all the rage for teenagers and young adults, but now that older generations are joining in swarms (i.e. creepy overprotective parents) , there has been a shift of concern among younger users. Twitter is a cluster of a mystery, but the it’s a cluster that everyone (including me) is going along with.

The Big 4 marketing gurus are no different. They know that the recruiters will do the legwork to find the best candidates. They know students will talk to their professors for advice, and listen to their older friends who interned elsewhere.

Perhaps in the end the websites, tweets and cow videos are for the helicopter parents. Seriously. Recruit the parent, recruit the student.

Latest PICPA Video: CPAs Are Like Snuggies

The Quaker CPAs have rolled out their latest pitch for “I need a CPA!” and once again, we’re impressed. Fully aware of the Snuggie phenomenon that is still sweeping the nation, the creative team at PAICPA saw an opportunity (even if for just a brief moment):


Like a blanket. With sleeves.

Now that hairy myths, the 1980s drug war, and reality TV/infomercials have been covered, is the next logical step is for the team to incorporate Lady Gaga and/or “The Situation”? Perhaps not but at the very least, it’s worth exploring.

Earlier
: Pennsylvania CPAs Insist Accountants Are Funny in New Videos. Which Are Funny

Ernst & Young Announces Canadian Tuxedo Fridays for the Remainder of Busy Season

Officially, it appears that it’s just half of the Canadian Tux. You can show up in the jacket if you want but we’d advise you lose it while at the office.


Oh right, showing up at your client from head to toe in denim is not advisable so that eliminates a fair share of you. As for the rest of you, kindly schlep that extra outfit with you just in case. You never know when you’ll need the biz-pro or biz-casual uniform handy. On a somewhat related note, it’s not entirely clear is if the Texas Tuxedo is allowed.

Allowing denim on Fridays during busy season is probably not unprecedented but it may be enough to get some of you through the next 30-ish days. Enjoy.

Job of the Day: Ready to Be the Director of Finance?

After graciously making room for our advertisers yesterday, the Job of the Day returns with a Director of Finance position in New York City through MJ Boyd Consulting.

The position requires someone with a minimum of ten years experience and responsibilities include GAAP and Sarbanes-Oxley compliance, along with overseeing the financial reporting process.

Get more details on this position after the jump.


Recruiter: MJ Boyd Consulting

Title: Director of Finance

Location: New York, NY

Description: Ensuring financial statements are in accordance with GAAP, reporting company performance, and identifying opportunities, risks, and cost cutting initiatives.

Responsibilities: Prepare annual budget, monthly forecast, and other financial reports as needed; define and analyze key areas of the business, including product profitability and student retention; provide financial advice and guidance to senior management; contribute to strategic planning and development as member of management team; ensure compliance with GAAP; ensure compliance with Sarbanes-Oxley; support monthly financial close; balance sheet and P/L analysis, reconciliation; enhance financial analysis and reporting; interact with Corporate Accounting; develop cost reduction and cost management initiatives.

Qualifications: Bachelor’s degree in Accounting or Finance required; CPA qualified, Masters preferred; Strong understanding of GAAP and its application to business issues; 10+ years progressive accounting/finance experience, including strong operating unit experience; exceptional analytical and financial analysis skills; strong computer aptitude and proficiency, including expert Excel skills; reporting functions will require ability to quickly obtain Oracle General Ledger mastery, as well as proficiency querying a number of Oracle and proprietary databases using SQL.

See the entire description over at the GC Career Center and visit the main page for all your job search needs.

The Latest CFO Headache: The United Nations

This story is republished from CFOZone, where you’ll find news, analysis and professional networking tools for finance executives.

CFOs face scrutiny from a wide range of sources: financial analysts, regulators, lawyers and accountants. A new body can now be added to this list, a body which is likely to cause some consternation. The U.N. last week formally castigated 86 global companies for failing to live up to the reporting requirements they agreed to when the companies became signatories of the UN Global Compact.


The scolding was undertaken by a coalition of global investors that are signatories to the U.N.’s Principles for Responsible Investment (PRI), an organization created in 2006 that uses investors to try and force companies to adhere to a global set of corporate and social obligations. That coalition of investors manages assets of over $20 trillion, so they carry some weight.

The companies involved in the exercise include some well known names such as Visteon and Lionbridge Technologies from the U.S., Spice PLC from the U.K. and Orascom Construction Industries from Egypt. Specifically the report says the companies involved had not submitted a mandatory report on how they put the U.N. PRI initiative into action.

The report also praises companies that underwent a similar rebuke in 2009 but then submitted their reports. These companies included Bayer from Germany, Nikon from Japan and Inditex from Spain.

What the U.N. expects — and what many CFOs will find hard to achieve — is that companies need to play a large role in solving global issues such as climate change and poverty. As Gavin Power, Director of the U.N. Global Compact says: “The most critical challenges of our time…require a collective response involving investors, the corporate sector and all societal actors.” From that reading it seems that companies now have to bring about world peace and end hunger on top of delivering quarterly earnings. Many CFOs will think that is perhaps a responsibility too far.

SEC Reminds Us of Past Mistakes; Arrests Madoff Associate

One day after it was reported that fraud detecting superman Harry Markopolos called the Commissioners “idiots” and Mary Schapiro “coldly polite” (that’s a compliment, isn’t it?) the SEC is charging another Madoff associate.

Today the Commission brought charges of “conspiracy, securities fraud, falsifying books and records of a broker-dealer, false filings with the U.S. Securities and Exchange Commission and filing false federal tax returns,” against Daniel Bonventre, according to several reports.


Bonventre was the master of making the internal accounting look legit, as opposed to lying to peoples’ faces directly. He was responsible for accounting entries that “[hid] the scope of the investment advisory operations and understating Madoff liabilities by billions of dollars.”

The Commission also brought civil charges against Bonventre, “alleging he helped disguise Madoff’s fraud and financial losses at Madoff’s firm by misusing and improperly recording investor money to create the false appearance of legitimate income.”

While the rest of the media focuses on the who, the what and the how long will that person be spending in FPMITA prison, “Dirty Diapers” Markopolos probably just wanted remind everyone that A) the SEC missed this by ignoring him several times and B) he still doesn’t think too highly of them. Oh, and he has a book coming out.

DOJ, SEC Announce Charges Against Madoff Exec Bonventre [Dow Jones via WSJ]
Madoff Aide Bonventre Becomes Sixth Charged in Fraud [Bloomberg BusinessWeek]
Madoff Whistleblower Slams Obama’s SEC: ‘They’re A Bunch Of Idiots There’ [HuffPo]

Accounting News Roundup: SEC Delay on IFRS Irks Some; Client Opinions of Big 4 Audits Not So Hot in UK; IRS Asks for $21M to Answer More Phones | 02.25.10

• U.S. delay on global accounting leaves world waiting [Reuters]
The head of financial reporting at the ICAEW is not impressed with the SEC’s plan to string everyone along on IFRS. Although we’re sure Dr. Nigel Sleigh-Johnson is bright guy, we’re not sure what the good doctor was expecting from, you know, the SEC.

Dr. Johnson complains that ‘the world [has] been awaiting clear signals from the Securities and Exchange Commission as to how and when it is going to start the process of completing the convergence to International Financial Reporting Standards,’ which is probably true. Think about it. If 110 countries have jumped on the IFRS ship, they sure as hell would want the US of A on that ship too because that way, if this turns out to be the worst idea in the history of double-entry accounting, then at least the U.S. went along with it too.


• Big Four audits are off the pace [Accountancy Age]
As a group, the Big 4 didn’t fare to well in the inaugural “Accountancy Age Finance 360 survey of client opinions” which asked participants to give their “views on the service they received from their last audit provider”.

Out of twelve firms, PricewaterhouseCoopers ranked the highest at #5, KPMG #9, Deloitte #10, and Ernst & Young brought up the rear at #12. The Age reports that “[E&Y] Staff were described as ‘pretty dire’, short on technical knowledge, confidence and even decent written English. Negative comments outnumbered the positive two to one.” Comments on KPMG and Deloitte were a little better:

While KPMG won plaudits for technical skills, it was let down by perception of its added value, with one FD claiming “very little feedback on potential improvements” their money.

Deloitte also struggled to prove it added value, while clients felt the firm’s audits were “mechanical” and an exercise in “box-ticking”.

One FD felt Deloitte was “more concerned with gathering enough evidence to stand up in court with a defence if there were ever a negligence case”.

All the firms not happy with their ranking essentially said that they were “committed to the highest standards of work” or something like that. You know the drill.

The tops firms in the survey were all included two Global 6 candidates: Mazars at #1 and Grant Thornton at #3 with Horwath Clark Whitehill taking the silver.

• IRS Commissioner Requests Additional $21m So IRS Will Not Answer Taxpayer Phone Calls 25% of the Time [TaxProf Blog]
Doug Shulman asked the House Appropriations Subcommittee on Financial Services and General Government for $21 million to improve the customer service. Apparently this would result in a 4% jump in calls answered. That sounds like magical government math if we have ever heard it.

Former Pastor Figures Eighth Commandment Is Overrated, Steals from Nonprofit

It takes a certain kind of person to defraud a non-profit organization. In a word: scumbag. Now consider the idea of a pastor of a church defrauding a non-profit organization. A non-profit organization that is tasked with providing cash and food for those in dire need. This person would be David Croyle, the former pastor of Stahl Mennonite Church in Johnstown, PA.

Croyle embezzled around $18,000 from St. Francis Sharing and Caring Inc. from 2005 to 2008. We figure he Either came to the conclusion that doing the Good Lord’s work was incredibly overrated or that he just plain needed the money. Seriously though, $18k? Did he really want a slightly used Honda Civic or something?


Regardless of the motive, Croyle has been charged with “56 counts each of theft by deception, failure to make required disposition of funds, theft and receiving stolen property,” according to the Daily American.

Part of Croyle’s duties at St. Francis was to determine eligible individuals, so he created C&A Management Services. Magically this company was “eligible” and then he requested checks payable to the company. Eventually someone found this a little fishy and hired Wessel & Co. a local accounting firm who discovered the embezzlement.

Somewhere God is shaking his head and somewhere else entirely, Sue Sachdeva is thinking, “Was this guy even trying?”

Police: pastor swindled nonprofit [Daily American]

Ohio Man Fighting the IRS May Not Be Done Bulldozing

Great news everyone! There’s a chance that more bulldozer fun will be had in Ohio, courtesy of Terry “Dozer” Hoskins.

Having demolished his house in less than two hours and knowing that it was only a matter of time before the bank came after his business property, he’s giving serious thought to renting another dozer and finishing this thing once and for all. Small town bank and IRS be damned.


Hey, we’re all for it. If you can a dozer for $500 why not introduce a little more chaos in your life? And don’t worry, the man is a professional and is always mindful of safety, “‘You have to know what you’re doing before doing something like this’ to avoid being hurt, Hoskins said of destroying his house. ‘I’ve run heavy equipment for years.'”

Believe it or not, Dozer’s wife wasn’t thrilled with the whole razing of the house, “Also not happy about the destruction of their house was his wife, Hoskins said. They are now living in one of the buildings on the commercial property.” He must have concluded that since he had already declared bankruptcy and destroyed one piece of property, floating the idea of flattening the business property couldn’t piss off the Mrs. too much more.

Question Hoskins decision-making skills if you like but it’s good to see a man taking pride in his work, “I don’t regret one bit of it.”

Home razer might take business next [Cincinnati Enquirer via TaxProf]

SEC Votes to String this IFRS Thing Along

AS PREDICTED. And It was unanimous. Sure, it wasn’t the boldest call we’ve ever made here at GC but we thought it was worth pointing out that the SEC really didn’t have much of a choice.

The good news is that the Commission doesn’t need to sweat this for now. They’re just letting everyone know that they’re tepidly re-re-committing to International Financial Reporting Standards but ONLY if the IASB and FASB can pull off meaningful convergence and the IASB stops being a bunch of lily-livered bean counters and tells the pols to BTFO.


Web CPA reports, “In the commission’s vote Wednesday, the SEC reiterated its cautious support for IFRS, contingent upon reaching a number of milestones, including convergence of U.S. GAAP with IFRS and improved governance of the International Accounting Standards Board.”

And even if that happens, the SEC staff has to check everything out so that everyone knows exactly what will result from the U.S. adopting IFRS (probably the rapture). Once that’s settled then we can talk about how this will get done.

Mary Schapiro’s words:

“In 2011, upon conclusion of the fact-gathering and analysis set forth in the work plan – and assuming completion of the convergence projects – the commission will then be in a position to determine whether to incorporate IFRS into the financial reporting system for U.S. public companies. Until that time, we will expect staff to provide periodic written public reports to the commission on the progress of its efforts.”

Back to work everybody. There are future meetings to be planned.

SEC Votes on Work Plan for Incorporating IFRS [Web CPA]
Earlier: SEC Meeting on Roadmap Will Likely Lead to More Meetings on Roadmap