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Layoff Watch ’26: KPMG Cuts 4% From Consulting

We've got another RIF at KPMG, a consulting cull that went down yesterday (that's Wednesday the 29th for those of you reading this a week from now). Let's start with…

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The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether

The other day -- and by the other day we mean like more than a week ago -- we received a text on the tipline that read "KPMG US to…

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KPMG Shoves 10% of Its Audit Partners Out the Door

We're sure you've seen this FT headline floating around today: KPMG to axe 10% of US audit partners. And if you, like most denizens of the internet these days, read…

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PwC Tells Remote Tax Staff to Get Their Butts Into the Office

So much for PwC letting all their people work remotely forever. Remember when that got headlines five years ago? See: PwC Just Announced That You Never Have To Go Back…

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KPMG Plans to Hand Routine Testing Off to AI

Did you happen to see this WSJ article from the other day? In "In This Critical Part of Audits, the Accountant’s Role Is Shrinking Fast," we're given a look into…

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News

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Friday Footnotes: Maybe Deloitte Doesn’t Need Employee Trust and Retention; Minnesota Wants to Tax Fraud at 100 Percent | 5.1.26

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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KPMG office exterior with scissors overlay

Layoff Watch ’26: KPMG Cuts 4% From Consulting

We've got another RIF at KPMG, a consulting cull that went down yesterday (that's Wednesday the 29th for those of you reading this a week from now). Let's start with…

Read More
Aerial view of the Pentagon

The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether

The other day -- and by the other day we mean like more than a week ago -- we received a text on the tipline that read "KPMG US to…

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woman having coffee with her dog

Monday Morning Accounting News Brief: 990s to Get a Facelift; DOJ Gets Busy Busting Fraud | 4.27.26

Hey. Looking like this is gonna be a short news brief, it was a quiet weekend. In accounting, anyway. In this news briefEveryone Loves an Informative 990The Official IRS Shit…

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Friday Footnotes: Partners Taking Ls; PwC Eats a Big Ol’ Fine; A Post 4/20 IRS Surprise | 4.24.26

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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Technology

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KPMG Plans to Hand Routine Testing Off to AI

Did you happen to see this WSJ article from the other day? In "In This Critical Part of Audits, the Accountant’s Role Is Shrinking Fast," we're given a look into…

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AI Will Be EY Auditors’ New BFF, According to EY

While staff in tax at EY US will soon be spending more time with their flesh-based colleagues due to a return-to-office mandate that requires them in the office for an…

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ICYMI: According to This AI CEO You Won’t Have to Go to Work in a Year

Commence to fantasizing about what you'll do with all that glorious free time when you lose your job to AI in 12-18 months because that's the confident prediction made by…

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Another Early AI Accounting Startup Just Bit the Dust

TIL that early AI accounting platform Botkeeper has died. I found out via this CFO Brew article which pointed to a post on Botkeeper's own site. Turns out r/accounting was…

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KPMG exterior building with sign, inverted

KPMG Brings Cheating Into the AI Age By Using AI to Cheat on AI Exams

The image is upside down because Australia. This story sounds like a joke but we assure you it is not. KPMG Australia has expanded KPMG's storied cheating repertoire by being…

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Practice Management

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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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remote accountants to hire

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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Top Remote Tax and Accounting Candidates of the Week | September 25, 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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tax hiring season

Top Remote Tax and Accounting Candidates of the Week | September 18, 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 | September 4, 2025

Struggling to Find Remote Accounting 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 not…

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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

We realize the decision to run maintenance on IRS systems likely isn't made by anyone who understands deadlines but surely someone who does could inform the IT department of these…

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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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Don’t Grow Your Accounting Firm Out of Business! Break Up With These Unscalable Practices Now

Business growth is always a high priority for accounting firms, especially small-to-midsize practices. Take care, though, because growth can be a double-edged sword. If your firm expands too quickly or…

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Job of the Day: Global Asset Manager Needs Someone Who Loves GAAP

Thumbnail image for Thumbnail image for hire me2.jpgWhich should be all of you. Okay, tax peeps, you got us but take a peak anyway.
Ashton Lane Group is looking to place someone in a senior accounting analysis and reporting position for a global asset manager in New York. The position requires at least 5 years experience and offers a competitive base and bonus.
Check out more details after the jump.


Title: Financial Reporting Accountant
Location: New York City
Responsibilities: Analysis and documentation of complex transaction terms and accounting treatment, which involves interaction with Business, Legal and Finance; Conducting accounting research and formulating application of the US GAAP framework to transactions, financial instruments, and hedging programs; Keeping current on new relevant US GAAP requirements; Assisting with the implementation of new US GAAP pronouncements and formulating relevant accounting policies; Participation in future implementation efforts around IRFS framework
Other requirements: 5-8 years in Public Accounting (Financial Services Industry exposure a strong plus) or 6-9 years of work experience in the financial services industry; Strong command of the US GAAP framework associated with: consolidation, derivatives, hedge accounting, transfer of financial assets, fair valuation of financial instruments; CPA license a strong plus.
See the entire job description over at the GC Career Center and visit the main page for all your job search needs.

Web CPA: McGladrey & Pullen Partners Vote to Go Back to H&R Block, RSM McGladrey

gulbis3.jpgWell, sons and daughter of McGladrey, the reconciliation is done. Your feuding parental firms will be engaging in some awkward corporate make-up sex:

An arbitration ruling, which was handed down Nov. 24, favors H&R Block and RSM, enforcing the restrictive labor covenants involving employees of the two firms.

About 650 McGladrey partners began meeting in Orlando, Fla., on Wednesday and voted Thursday to approve the agreement after the M&P board, including managing partner Dave Scudder, had earlier approved the deal.


The whole thing has been pretty ugly as far as we can tell and according to Allan Koltin, CEO of PDI Global, a consultancy firm that advised both firms, M&P didn’t have any choice but to go back:

The enforcement of some of the terms of the original agreement by the arbitrator seems to have forced M&P’s hand. “Once the arbitration ruling came out and McGladrey & Pullen found they were prohibited from providing tax services for a couple of years, that was the end right there,” said Koltin. “There was no way they could be independent as an audit-only firm and compete effectively without also providing tax services.”

The original non-solicitation agreement said that M&P could not provide services such as tax preparation for between 18 and 24 months if it terminated the agreement, effectively limiting the firm to audit services. “Once they saw the writing on the wall, it became obvious that the two sides were going to come together,” said Koltin.

So this appears to be awkward. Did M&P think this through or even read the non-solicitation agreement before they told H&RB/RSM to drop dead? Did they legitimately think they could get by just offering the audit services for two years?
While we were rooting for the firms to make nice, there may be some of you that are less enthusiastic about the House of McGladrey being all under one roof again. We’d like to hear from the troops on the ground about this whole thing. Feel free to get in touch or just put it out there in the comments.

McGladrey & Pullen Partners Vote to Reconcile with Block [Web CPA]

UPDATE: The full press release can be seen here.

Your Nominations for ‘Accountants of the Decade’ Are Now Being Accepted

andyfastow2.jpgFriends, you may not be aware of it but the current decade is closing fast. This means several things, a few of which are worth mentioning here: 1) Many of you will embark on this new decade inching ever closer to your first mid-life crisis 2) Many of you will enter a new decade and still not have your CPA despite posing as one for the last 3 – 5 years. 3) Ubiquitous “[insert anything here] of the decade” lists.
Now you may also be aware how we here at GC feel about lists. Not typically a fan. However, considering the historical significance of the end of the ‘0Xs (what the hell is this decade called?) and the fact that we don’t feel like working too hard today, we will now request your nominations for the “Accountants of the Decade”.
We’re looking for those CFOs, CPAs, etc. etc. that defined the decade for you, for better for worse. One possible nom is the man you see pictured here, the oddly stunning yet diabolical Andy Fastow. If you’re not familiar with AF, then please slap yourself.
A few things: 1) No obscure nominations. Your Intermediate Accounting Prof who was constantly eating star mints and wore warmup pants to class doesn’t count. Celebrity CPA Review instructors, on the other hand, are acceptable. 2) CFOs in form but not in substance are acceptable (e.g. Erin Callan). 3) Don’t blow this off. It’s important.
So fire away, and feel free to make an argument. If you’ve got a favorite picture with your nomination, kindly pass it along and we’ll include it if we end up putting this to a vote. We’ve got less than three weeks until the ball drops so get on it.

Preliminary Analytics | 12.11.09

Thumbnail image for DTa.jpgDeloitte appoints new climate change chief – Kiwi Nick Main is the new HMFIC. [Accountancy Age]
Loopholes Lurk in Bank Bill – “Referring to USAA, House Financial Services Committee Chairman Barney Frank (D., Mass.) said the House has ‘been supportive of them and the US military. There’s no remote prospect of them being a problem.’ Lawmakers wouldn’t identify the lawmaker who requested the exemption.” [WSJ]
Boeing says Dreamliner could fly on Dec 15 – Just feeling it out. No word on the debut with crying babies and obese passengers. [Reuters]
Craigslist Founder Says eBay Reneged on Promises – Specifically you, Meg Whitman. [AP via NYT]

Review Comments | 12.10.09

welcome.jpgBreaking Media, LLC Announces Jonah Bloom, Editor of Advertising Age, Will Join Company as Chief Executive Officer and Editor in Chief – Welcome to Jonah and our new Executive Editor, Matt Creamer! [Breaking Media Press Release]
Haddrill: We don’t need a Big Five – One man’s opinion. [Accountancy Age]
S Corporation Basis: Is It Time for an S Corporation Holding Company? – Consider this if you have multiple S-Corps tossing money back in forth. Joe Kristan explains. [Tax Update Blog]
As Internal Audit Staffs Shrink, Will Fraud Rise? – More with less is a trend everywhere. [CFO]
Chart of the day, hedonic treadmill edition – For those of you doing the debits and credits at hedge funds, apparently you’re paid the least but happiest with your comp. Who knew it was possible? [Felix Salmon]
Sarbanes-Oxley for Everyone: To Be or Not To Be? – Check out Francine’s latest contribution to HuffPo. [Huffington Post]

Deloitte Tops BusinessWeek’s ‘Best Places to Intern’ List, KPMG Gets the Silver

Thumbnail image for confidence.jpgAll right Deloitte. What are you paying BusinessWeek? Seriously, you take the “Start Your Career” crown and now you’re just getting greedy with the arbitrary magazine list championships. You’re risking backlash if you continue to dominate:

Our ranking of the best U.S.companies for undergraduate internships highlights employers who have put together an outstanding experience for students. Accounting firm Deloitte tops our list, followed by rivals KPMG (No.2) and Ernst & Young (No.3).The last of the Big Four accounting companies, PricewaterhouseCoopers, comes in at No.5, right behind consumer goods giant Procter & Gamble.


This is getting ridiculous BW. Four out of the top five spots go to Big 4? Do they really have an unbreakable stranglehold on your list methodology?

To compile our list, we judged employers based on survey data from 60 career services directors around the country and a separate survey completed by each employer. We also consider how each employer fared in the annual Best Places to Launch a Career, our ranking of top U.S. entry-level employers released in September of each year.

So, the employer’s own surveys are judged and you consider a list previously issued by you? Unless we’ve been misled, those employer might not have gone so well. As for considering your own list to make a new list, does that mean that this is basically the same list but with a different name?
Putting the methodology hocus-pocus aside, we notice that while Deloitte took home the gold medal, KPMG got the big talk up for their global rotations:

Two years ago KPMG realized it had to make a substantial investment in its internship program if it hoped to woo top students from larger consulting and accounting firms. So the company decided to offer interns an opportunity to gain valuable overseas experience. KPMG lets student interns spend four weeks in the U.S. and four weeks abroad. “It’s extremely competitive [to recruit top students], and this is a differentiator,” says Blane Ruschak, executive director of campus recruiting at KPMG.
A chance to work overseas is precisely what appealed to Andrew Fedele, 21, an accounting and economics double major at Pennsylvania State University. “I was sold pretty much when I first read about [KPMG’s] global internship program.” He spent four weeks in Chicago and four weeks in Johannesburg, South Africa. “South Africa has just such an interesting history. To go there and live with the locals and work with them was really exciting.”
What did KPMG get in return? Exactly what it hoped: Fedele accepted a full-time job almost immediately after KPMG made its offer at the end of the summer.

The article does manage to point out that “KPMG…hired nearly 900 fewer entry-level employees this year. But 91% of those full-time hires were former interns, whereas only 71% of new hires in 2008 were interns.”
The trend of fewer non-interns getting hired on at Big 4 (in this case KPMG) firms was something that we touched on in August, although BW doesn’t bother mentioning that it’s most likely due to the slashing of the firm’s hiring budgets.
We can’t give this latest meaningless index any more thought. If you’ve got an opinion on the latest jumble of the Big 4 in a BW list, leave them in the comments.
Best Places to Intern [BBW]

At One Point, Ernst & Young Was Handing This Stuff Out

Today in money well spent news, we bring you items from a care package that was sent to GC from a friend:
E&Y_DonKing.jpgEY_DK.jpg
Can anyone explain the purpose of this particular item? More pics after the jump.


SUN.jpgEY_Sun.jpg
This item also has no discernible use.
pen_hair.jpg
Um.
Anyone want to venture a guess on how much money is spent on this stuff? It’s got to be enough to foot an open bar. If you have more useless stuff that makes you question your firm’s spending habits, kindly pass them along and we’ll throw up the most useful items.
UPDATE: The most recently submitted ball of useless:
EY Ball of Useless.jpg

Moss Adams’ Derek Dowsett Talks to Going Concern About the Latest Ribbon Cutting

Thumbnail image for grand opening.jpgFollowing up from last week, we had the opportunity to speak with one of the lead partners of Moss Adams’ new Santa Clara office, Derek Dowsett.
Mr. Dowsett is the Regional Leader of the firms Technology & Life Science Practice for Moss Adams. He has been with MA for twelve years, being admitted to the partnership in 2006 and previously spent six years with at a Big 4 firm.


With the opening of the Santa Clara office, MA will have approximately 100 professionals working in the Bay area, according to Mr. Dowsett. Because of their close proximity, all the Bay area offices work cross-functionally to provide professional services to serve client needs as they arise:

“We utilize the resources from all of our offices which allows us to provide clients with a fully integrated client service team with the technical and industry knowledge most applicable. For example, I may draw on our international tax expertise from our San Francisco office if one of our clients needs help with an international tax issue or from our transaction services team should a client need help with financial due diligence related to a potential acquisition. Similarly, I help other offices throughout the firm with client issues within the technology and life science industries.”

The balances of services that the office provides will be break down “pretty close to 50/50, perhaps a little heavier on the assurance side” said Mr. Dowsett. MA also provides Advisory and Transaction Services to its clients in the Bay area.
In addition to the client service, Mr. Dowsett said that recruiting for the Bay area will be performed as a joint effort amongst the MA offices, with focus on the schools in the surrounding area. Their efforts will be focused at Santa Clara University, UC Santa Barbara, and Cal Poly San Luis Obispo with possible future expansion to additional schools.
Congratulations and good luck to Moss Adams on their newest location and thanks to Derek Dowsett for taking the time to talk to us. If your firm wants to get in touch with us about any news, send any correspondence to our general mailbox: tips@goingconcern.com.

Is Low Bidding by Your Firm Going to Bite You in the A$$?

Sale.jpgBy now it’s no secret that accounting firms are getting all Wal-Mart with their bids/fees in order to drum up desperately needed new business and keeping current clients happy.
Offering or renegotiating lower fees, while an excellent “client service” tool, can cause all kinds of problems with staffing and the feasibility of engagements.


If you’re working on a small engagement with a tight budget, things could tricky (read: impossible) to reconcile mandatory hour work weeks to the budgeted time on your engagements.
One reader is curious as to the repercussions of all this:

[They are] low bidding jobs, taking audit clients at rates < $100/hour when average rates used to be $150 - $250/hour. Tell me they won't dump those clients when the economy turns around. Or have people eat hours on the jobs. They are desperate for work right now.

Those numbers are relative of course but it does make one wonder how this will all pan out long term. As we’ve noted, if it gets to the point to where there’s simply not enough money coming in the door, closing up shop isn’t out of the question. If you’ve got concerns, thoughts, complaints, etc. on how this latest trend will affect you and your office, discuss them in the comments.

Job of the Day: What Exactly Does a Consultant Do?

Thumbnail image for Thumbnail image for hire me2.jpgThey consult, naturally. We can’t really get into more detail at this point. But if you consider yourself a renaissance man/woman in the financial realm (and don’t mind some travel), a consulting gig may be right for you.
Check out the details for both senior and staff finance consultant positions at Infrastructure Management Group, Inc. in Bethesda, MD after the jump.


Company: Infrastructure Management Group, Inc.
Title: Finance Consultant
Location: Bethesda, MD
Requirements: All candidates must have a bachelor’s degree with at least some coursework in finance, economics, and/or accounting and have a strong interest in infrastructure finance. Fluency in Spanish is a plus. Some domestic and international travel may also be required for some projects.
Senior Consultant Profile: At least two years of finance experience preferably with an investment or commercial bank, accounting firm, or construction/development firm; Experience with cash flow financial models, using net present value and IRR functions; Master’s degree preferred but not required.
Staff Consultant Profile: Entry-level position; Graduating college senior or recent graduate; Some coursework in finance and accounting.
Check out the entire description for this listing over at the GC Career Center and visit the main page for all your job search needs.

Rumor Mill: Ernst & Young Closing Greensboro, NC Office

From a source:

Greensboro, NC office is being shut down. Admin staff are being let go. Most client serving have been given the option to transfer to Raleigh or work remotely.

We tried calling the Greensboro office but couldn’t get through to anyone and E&Y’s national PR team hasn’t returned our emails yet. This closing would follow the Manchester office closure that we initially reported on in October. We’re trying to get more details on the closure date, numbers, etc.
In the meantime, if you have more information on this rumored office closing or others get in touch with us and discuss in the comments.
UPDATE, 12/11: Another source has confirmed the closure. We’ve also learned that the Greensboro has in the nabe of 70 – 80 client service professionals. E&Y is still mum. Keep us updated.
Earlier:
Are Other Small Big 4 Offices at Risk of Closure?