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Layoff Watch ’26: The King’s KPMG Kindly Asks 600 Auditors to GTFO

We covered this story in yesterday's Monday Morning Accounting News Brief but it's significant enough news to earn its own spot in a separate article as it's a large market…

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A KPMG Senior Director Got Beat Up By a Guy Who Stars in Reacher

Oh my God it feels like it's 2010 all over again with that headline. Thanks to the algorithm for putting this item in my feed since no one saw fit…

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KPMG Picked an Aussie to Rule Over the Global Empire [UPDATED]

Ed. note: This article was originally published on March 5, 2026. It was updated on March 18 after KPMG made a public announcement confirming Gary Wingrove as Global Chairman and…

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Deloitte Runs a Photo Competition??

Wait, what is this? Deloitte Italy and Fondazione Deloitte [Deloitte Foundation] are handing out tens of thousands of euros in a photo competition centered around the subject of "proximites." Why?…

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EY building exterior

EY Is Now Paying a $10k CPA Bonus

Anyone in the mood for a bit of good news? Here goes: EY is doubling their CPA bonus for early career new hires who can manage to pass all four…

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Friday Footnotes: EY Tells Tax to Get Back in the Office; Associates Are Vibe Coding Now | 4.3.26

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 building exterior with scissors overlay

Layoff Watch ’26: The King’s KPMG Kindly Asks 600 Auditors to GTFO

We covered this story in yesterday's Monday Morning Accounting News Brief but it's significant enough news to earn its own spot in a separate article as it's a large market…

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orange and white cat on balcony with daffodil

Monday Morning Accounting News Brief: KPMG Asks Hundreds of People to Go; One Big Beautiful Bill Equals Billable Hours | 3.30.26

Good morning and happy Monday, capital markets servants. I ventured out into the muck to dig up some news for you to start the week. In this news briefYour Services…

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Friday Footnotes: EY Socks Away a Bunch of Money For Future Fines; Can You Leave at 5 and Still Make Partner? | 3.27.26

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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The Top 20 Firm That Kicked Off PE Madness in 2021 and Its PE Firm Announce They’ll Keep Kickin’ It

EisnerAmper (#15 on the INSIDE Public Accounting Top 100 with $1.023 billion in revenue) and TowerBrook Capital announced yesterday that they've completed a continuation vehicle transaction which basically means TowerBrook…

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Technology

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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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KPMG Brings AI Talking Points to a Fee Negotiation, Inadvertently Opens a Pandora’s Box Filled With Stingy Clients

As reported by Financial Times on February 6, included in Friday's edition of Footnotes, and widely chuckled at by public accountants both current and former across the world since, KPMG…

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Hackers Set Out to Ruin Tax Season Early For One Old-Ass Firm

'Tis the season. For alleged data breaches, that is. Cybernews is reporting that a Russian ransomware group called Lynx claims to have gotten its hands on a whole mess of…

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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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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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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

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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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>75: What am I Supposed to Do With This Ethics Exam?

Editor’s note: Welcome to latest edition of >75, our weekly post on a question related to the CPA Exam. Send your questions to tips@goingconcern.com and we’ll do our best to answer as many of them as possible. You can see all of the JDA’s posts for GC here and all our posts related to the CPA Exam here.

If you are in an ethics exam state and trying to figure out how to pass it (first of all: fail), don’t worry, I’ve got some advice. An email from a reader who prefers not to expose his unethical-ness comes to JDA thusly:

I’m having trouble passing the ethics exam, I’ve failed twice. How can I pass it?


First of all, I’m going to ignore the fact that this question — by itself or to a casual observer not in public accounting — is pretty fucked up. You shouldn’t need help with this. I can understand needing an explanation on how to get your foreign degree evaluated (I still don’t quite get it) but this should be easy. However, for the purposes of this post, I’ll disregard that part.

For starters, the ethical thing to do would be a Google search on the ethics exam, not posting Craigslist ads offering to pay people to take it for you. But if you’re like most public accountants trying to get a license, you copy off of your coworkers. I shouldn’t have to tell you that. If I do, it probably means you’re not cut out for this line of work.

There are other things you can do. Some state societies of CPAs have resources like tips or even experts you can consult to help you. Again, this shouldn’t be hard, it’s supposedly your first mandate in public accounting.

It’s open book, there’s no timer and you can bring a weapon to wherever you’re taking the test (unlike the CPA exam itself). Why are you making such a huge deal out of this?
Abacus said the Wisconsin ethics exam, while being tough, just needed some diligence to get through. What’s scary about that?

If you absolutely run out of ideas, some ethics exams have a “Lifeline”. Here in California, if you bomb three times, you can call CalCPA’s Education Foundation and they might give you a hint or two along with three more chances to pass.

Give it enough time and understand the subtle nuances of the questions, don’t just try to barrel your way through it and you might pass this time. Good luck.

Preliminary Analytics | 11.20.09

Thumbnail image for buffet-and-blankfein.jpgGoldman Holders Miffed at Bonuses – And there’s bellyaching that GS is trying to pull a fast one by including temps to pull down the comp per employee. Sneaky. [WSJ]
EBay completes sale of Skype – The auction block gets $2 billion and still retains a 30% stake. [Reuters]
SEC Told to Improve Ways It Chooses Probe Targets – Eenie, meenie, miney, moe just won’t cut it anymore. [AP via NYT]
US House Panel Approves A Toned-Down Accounting Proposal – After amendments, the final word on all things FASB remains with the SEC. [Dow Jones]

Review Comments | 11.19.09

Thumbnail image for Thumbnail image for Thumbnail image for ey_bandaids.jpg• Don’t forget to submit your questions for our weekly CPA Exam post, >75.
Pa. Woman Can’t Re-Sue Ernst & Young for $103M – Tragic conclusion. [ABC News]
‘Cheat’? I Don’t Think the Word Means What They Think It Means – Tragic ignorance.
[Tax Update Blog]
Singer Aaron Carter Owes IRS Over $1 Million – Tragic boy. [Web CPA]
Is Wall Street Comprised Of A Bunch Of Crackwhores Who Can’t Help Themselves, Crying Out For Help? John Mack Says Yes – Tragic whores. [DB]

Joe Francis to Declare Bankruptcy, Owes IRS $34 Million

Thumbnail image for Joe-Francis.jpgTragic news from the world of wholesome entertainment as Joe “Back to the business at hand of slapping women” Francis is allegedly going to declare bankruptcy tomorrow after receiving liens for nearly $34 mil.
Not such a good thing for Francis since he just hammered out a plea deal two months ago.
According to Tax Girl, that plea agreement, “requires him to resolve his outstanding tax issues. I mean, it is a resolution – but I’m guessing not so much what IRS had in mind.”
They certainly aren’t apologizing for this one.
Girls Gone Wild Founder To File Bankruptcy, Blames IRS [Tax Girl]
Other GC Coverage of Joe Francis:
SHOCKER: Joe Francis May Have Attracted Slimy Business People
Joe Francis Plans to Argue That Anything Related to Topless Girls is Deductible

Will PwC and KPMG Reconsider Canceling Their Holiday Parties?

mickflynnsanta.jpgDoubtful! But with the news of sugarplums dancing in some Big 4 heads, we got to wondering if any of the offices of KPMG and PwC might reconsider the firm-wide kibosh on the Holiday jamma-lamma-ding-dong.
Maybe this would be a coup d’état of the highest order but we’ve heard of offices going rogue in the past, so it’s worth mentioning.
Perhaps we’re expecting too much but it seems possible that partners in your local offices could rally the troops by pooling together some of their own cash and springing for cheese trays a few kegs of Beast.
Partners, you wouldn’t necessarily have to let anyone use the bathroom (especially the new associates, we know how they overdo it). You could set up Rent-A-Johns in the driveway.
Because as it stands right now, it appears that Bob Moritz will only be handing out fresh undies, and Tim Flynn will argue that the Phil Mickelson sponsorship is the gift that keeps on giving. That may fly with some but certainly not all. Discuss your hopes for an eleventh hour fiesta in the comments.

The Grant Thornton ‘Global Six’ Campaign Has Hit a Snag

Thumbnail image for Thumbnail image for Grant-thornton-logo.JPGGrant Thornton’s global revenue results have yet to come out, however the Times Online is reporting lower UK revenues for the past fiscal year. This widens the gap between GT and Big 4 and possibly jeopardizes any hope of the ‘Global Six’ moniker making it into the mainstream.


This despite their ambitious efforts:

Two years ago, Grant Thornton unveiled ambitious plans to increase revenue to £500 million. It had just acquired RSM Robson Rhodes and appeared set for rapid growth. There was talk that it could close the distance on Ernst & Young and break the Big Four’s lock on blue-chip audit and advisory work.

This, as the Times notes, appears to be only a pipe dream now. They dish a little gossip about GT merging with E&Y which was de-nied pretty adamantly by the UK CEO, ‘That’s absolutely not true and I’ve no idea where it comes from.’
We really wish we could take credit for starting that rumor but alas, we can’t. Furthermore, it wouldn’t be the same if GT had to merge with someone. It is, however, worth speculating if any type of semi-mega merger would even be possible. We touched on this topic some time ago but that was for sport so we’re asking for serious speculation now.
If you’ve heard merger talk at any of your firms discuss — or just wonder aloud about which firms would/could/should get together — in the comments and feel free to opine on GT’s latest efforts in the Global Six campaign.
Grant Thornton slips further behind the Big Four [Times Online]

At the Deloitte Holiday Party You’ll Have to Mill Around While Trying to Avoid the Guy Mopping the Floor

We have confirmed the comment that mentions the Deloitte Holiday parties going down in the lunchroom. According to our source, this makes two years running that D has thrown it down in the caf which was a step down from the epic ’07 rager at the Waldorf. It’s not that nice of a hotel anyway.
Personally, we were hoping that Barry Salzberg was going to encourage everyone chip in and build the location of this year’s festivities with their bare hands but it might be too late to get that project started. Maybe next year.
Picture 3.png
Obviously this is less than ideal because 1) it’s definitely not a full bar and 2) instead of catering you’ll have to choose between what you think is salisbury steak and chicken a la king.
As far as atmosphere, we will admit that this is less touristy than TOTG but still. And what about the poor saps in Parsippany? Training rooms A – C? Jesus. Nothing better than crushing beers in the room where you were introduced to the FASB Codification.

That Apology from the IRS? Yeah, Not Going to Happen

shulman.jpgIf you’re a bigshot at the IRS there are a lot of things that you don’t have to do. For one, you don’t really have to meet anyone’s expectations. For another, you don’t have to worry about delaying plans just because some practicing CPAs have some silly concerns.
The latest perk of being Doug Shulman? Not having to apologize to anyone.
TaxProf Blog:

The Tax Court yesterday ruled that it lacks jurisdiction to order the IRS to apologize to a taxpayer. Caldwell v. Commissioner, T.C. Summ. Op. 2009-169 (Nov. 18, 2009):
The part of Caldwell’s motion which we characterize as a “Request for Apology” asks that we require the IRS to enter into the record “a written apology to the Petitioner, signed by the Commissioner, Internal Revenue Service” …

The IRS objected to the Request for Apology on the ground that Congress has not, through section 7430 (relating to administrative or litigation costs) or otherwise, authorized us to grant such relief. [Fn.3] We agree.

There you have it American Taxpayer. Under the law, the IRS doesn’t have to apologize to anyone, despite the evidence that they should probably be apologizing constantly. Going forward, if you want an apology, run down a Republican member of the House of Representatives.
Court Lacks Jurisdiction to Order IRS to Apologize to Taxpayer [TaxProf Blog via Tax Update Blog]

The Holiday Spirit Is Alive and Well at Ernst & Young

After a rough week of layoffs at E&Y we’re glad we can bring you some good news out of the Ernstiverse. After our reports back in September that the New York office that there was going to be no Christmaskah festivities, the FSO practice has had a change of heart:
Picture 2.png
Not only are the partners in FSO encouraging you to have a cup of cheer, they’re helping out a financially troubled New York institution.
We reached out to one source in FSO who had these thoughts:

I think for the most part people are very surprised we are having a party, and there is definitely a mixed feeling. Most would rather have gotten a raise, but apparently we got a great deal from Tavern so if there are no raises we might as well have a party!!

Since we don’t have many details at this point, important questions remain: A) Are you going? B) Open bar or GASP beer and wine only? C) Will there be dancing? D) If so, will Jim Turley be there getting his (rumored) $6 million man groove on?
Photos please, especially when he’s doing the sprinkler dance. Keep us updated with the details.

Preliminary Analytics | 11.19.09

money.jpgBetter Paydays Ahead – “Many employers are planning to reinstate merit increases in 2010, but some compensation experts say base salaries are unlikely to return to pre-recession levels anytime soon, if ever.” Probably not what you had in mind. [WSJ]
Reid $849 Billion Measure Widens Health Coverage, Cuts Deficit – “Senate Majority Leader Harry Reid unveiled an $849 billion health-care plan that would create new government competition for private insurers, cover almost all Americans and raise a payroll tax on the highest earners.” [Bloomberg]
Democratic Rep. DeFazio Calls for Geithner and Summers to Be Fired – This smells desperate. [Naked Capitalism]
Exclusive: GM Must Pay Debt, Make Money Before IPO – ” General Motors should focus on making money and repaying U.S. Treasury loans before turning to public markets to sell the taxpayer’s stake in the automaker.” Seems like a reasonable strategy. [Reuters via NYT]
Bill Richardson’s Awkward Link To Alleged Ponzi Schemer – Apparently Hassan Nemazee’s firm has a four year contract to manage money for the Land of Enchantment. Yeah, that is awkward. [Forbes]

Review Comments | 11.18.09

Thumbnail image for petters_plane.jpgPetters, on witness stand, denies knowing of fraud – Swindler? Not guilty. Swashbuckling? Guilty as charged. [AP]
Grant Thornton LLP offers 10 year-end tax planning tips – Just not for this guy. [Press Release]
Hopes Rise for Cadbury Bidding War – “Hopes of a bidding war breaking out for Cadbury PLC rose, pushing up the company’s shares, after U.S. rival Hershey Co. and Italian-based Ferrero SpA said they might bid for the U.K. confectioner.” [WSJ]
Is Google the Next AT&T?– “Google would let you make and receive Internet-based calls that ‘bypass the per-minute billing on your smartphone.'” [The Atlantic]
CFOs High-five on 404 Rollback Bill – Because CFOs don’t do fist-bump blow ups. [CFO]
Lots of voting to be done: NPOs/Govts, CPA Exam, and Craptacular Captions. Thanks for pulling the lever.