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The Big 4 Model Might Be Cooked

For nearly 17 years now, this website you're reading has been meticulously documenting the accounting profession, Big 4 in particular and often through the lens of younger staff coming through…

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Layoff Watch ’26: EY Trims Some Newbies in Audit

Seeing multiple posts about audit Staff 1s getting let go from EY this week, it's unclear how many are affected and if other service lines should brace for impact as…

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Deloitte Made the Creepy Digital Librarian From The Time Machine But For Golf

Have you seen the 2002 movie The Time Machine? If you haven't then the reference in the headline isn't going to make a lick of sense. Lucky for you YouTube…

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KPMG Redefines Excellence in the Age of AI By Using AI to Pump Out Dubious Citations in This Now-Removed Report

GPTZero, the folks who brought you this glorious takedown of an EY Canada report stuffed with completely made up sources, are back at it again and this time they've caught…

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PwC exterior sign

FRC To Determine Whether Missing a £30 Million Overstatement Was, In Fact, Bad Auditing

The Financial Reporting Council announced today that they're officially investigating PwC UK's 2024 audit of WH Smith which means fines and hand-slaps are likely forthcoming once that gets wrapped up.…

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News

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Monday Morning Accounting News Brief: PwC Gave Us a Reason to Mention GTA 6; The Bad KPMG Anecdotes Are Adding Up | 6.22.26

Hey, here we are again at Monday. Guess we should get to it. In this news briefA Less Thrilling Transfer Pricing StoryThe Ghost of Tax Preparer Fraud PastWho Doesn't Want…

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Friday Footnotes: Deloitte UK Asks Nearly 200 Auditors to Please F Off; AI Chatbots Favored Over Actual Accountants | 6.19.26

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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EY building exterior with scissors overlay

Layoff Watch ’26: EY Trims Some Newbies in Audit

Seeing multiple posts about audit Staff 1s getting let go from EY this week, it's unclear how many are affected and if other service lines should brace for impact as…

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IRS office with a rat

The IRS Moves Atlanta Employees to an Office That Makes the Rat-Infested Office Look Pretty Good

If you've been keeping up with the news cycle (or if you caught last Monday's Monday Morning News Brief), you've heard about the situation down in Atlanta involving IRS workers…

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Monday Morning Accounting News Brief: Oh Rats! The IRS Is Infested; PwC Partners Will Divorce If It Spares Their Cash | 6.15.26

Good morning, capital markets servants. Everyone have a good weekend? Good. Got some news for you. In this news briefThe IRS Phone Bank Pays HOW Much!?Getting Divorced Over an Audit…

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Technology

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Deloitte Made the Creepy Digital Librarian From The Time Machine But For Golf

Have you seen the 2002 movie The Time Machine? If you haven't then the reference in the headline isn't going to make a lick of sense. Lucky for you YouTube…

Read More
error on a phone screen

KPMG Redefines Excellence in the Age of AI By Using AI to Pump Out Dubious Citations in This Now-Removed Report

GPTZero, the folks who brought you this glorious takedown of an EY Canada report stuffed with completely made up sources, are back at it again and this time they've caught…

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woman and cat with laptop

KPMGers Are Maliciously Complying With The Firm’s AI Usage Requirements By Generating Fluff

On May 4, Business Insider published an article about KPMG's new AI dashboard. They've been publishing several articles in recent weeks about KPMG's AI initiatives actually, like the tax simulation…

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Starbucks Kills Off Its Automated Counting AI Tool After Just 9 Months Because It Sucked at Counting Beans

While people outside of the accounting profession continue to smugly insist that accountants will be out of work in 12 months 18 months two years five years any day now…

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Exterior EY building

EY Gets Busted and Yeets Report Littered With AI Hallucinations

Yesterday we received a news release from a communications firm working for a group called GPTZero. Now you should know that we receive probably a hundred or more news releases…

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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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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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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?

More Deloitte Holiday Cheer This Week (Unofficially)

Big day everyone. Oh, sure there’s that but there are far more important things on the agenda. Namely, Christmaskuh festivities/cafeteria chats at the Stamford, Long Island and two NYC offices. Perfect opportunity to discuss the nominees for most likely to catch an STD on the path to partner.
Elsewhere in the Deloitte stable, the Chicago office is amping up for its rager that is going on this Saturday in Wrigleyville:
Picture 6.png
So by “unofficial” and “informal” we’re sure that’s the “All Clear” for someone to lose their pants and/or shirt by the end of the evening. Plus, we interpret the last line as an open invitation to P. Dubs and KPMG professionals for temporary adoption into the Deloitte family.
That might be the best chance they’ll have at taking in a butchering of “O Come All Ye Faithful” and shameless ass grabbing under the mistletoe, so we suggest they consider it.

Preliminary Analytics | 12.10.09

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for 140px-United_States_Securities_and_Exchange_Commission.pngSEC’s Khuzami ‘Skeptical’ of Auditors’ Claims on Privilege – Privlege shmivlege. [FEI Financial Reporting Blog]
Obama Proposes $12,000 “Cash for Caulkers” Program – Including the most immature montage ever. [TaxProf Blog]
Overstock.com and Patrick Byrne Have an Enemies List That Includes Friends and Family Members of Critics – Using Facebook no less. Anyone surprised? [Sam Antar/White Collar Fraud]
Madoff Auditor Plea May Signal Other Probe – Tax charges thrown in with David Friehling’s guilty plea may indicate that prosecutors may be building a case against other Friehling clients including the Madoff sons. [WSJ]
Broadcom Co-Founder Cleared in Backdating Probe – “U.S. District Judge Cormac J. Carney made the announcement after Samueli, owner of the NHL’s Anaheim Ducks, spent two days testifying for the defense in the fraud trial of a former executive for the telecommunications chip maker. ”You have restored my faith in the criminal justice system,” an exhilarated Samueli told the judge in federal court in Santa Ana.” Avoiding prison will do that. [AP via NYT]

And the Award for Deloitte Analyst Most Likely to Sleep His Way to the Top Goes To…

Gents, are you sick of being treated like eye candy? Are you tired of getting attention for your looks when all you want to do his serve your capital markets? Being judged for alleged promiscuity with superiors?

No? Cool with it? Good, because there are awards being handed out across the pond primarily based on your superficial qualities and your willingness to whore yourself out for personal success (click to enlarge).

Picture 2_jpeg.jpg

We’re filling out our ballot now but as the message says, you’ve got until the 18th, so ponder these carefully. Barry Salzberg is a lock at #6, especially if he’s wearing a hard hat.

Btw, who is going to tabulate the votes? We sure as hell can’t trust anyone from Deloitte to do it. Consider this the official RFP.
Also discuss your thoughts on the categories included, what categories are omitted, nominate yourself by sending us photos (we’ll pass them along). Anything on your mind, really.