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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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In a Final Rule, Dept of Education Is Unswayed By the AICPA’s Strongly Worded Letters About the Meaning of Words

In the final ruling of a game of semantics that really chapped the AICPA's ass, accounting has not earned a place on the Department of Education list of "professional" degrees.…

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Plante Moran Goes South of the Border to Acquire a Firm in Mexico

Shoutout to the person who sent us a link to this, might have slipped past the ol' radar otherwise: Plante Moran bought itself a 500-person Mexican firm called JA Del…

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Layoff Watch ’26: RSM Trims Down in Audit

Seeing a couple Reddit posts about a wave of "Business Update" meetings being forced on people's calendars at RSM yesterday. As we all know, "business update" is code for "you're…

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United States Securities and Exchange Commission building

SEC Says “What If We Just… Didn’t” on Quarterly Reporting

So that thing that started with a Trump shower thought last fall and that WSJ said would be happening imminently is, in fact, now happening. Catch yourself up on earlier…

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Monday Morning Accounting News Brief: Claude Starts a Turf War With Consulting; An Article About How Much Big 4 Sucks | 5.4.26

Good morning! Not a fan of Star Wars so I won't be making any May 4th puns today, sorry. In this news briefAnthropic Aggressively Elbows In on Consulting's TurfThat's a…

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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 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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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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Will Big 4 Firms Get Access to the Swine Flu Vaccine?

swine.jpgNo idea! But we figure if you’re an auditor (or any other service delivery professional) at Goldman Sachs or Citigroup (PwC and KPMG respectively) you probably have a better chance than most.
Oh and it helps if you’re at high risk for developing complications. So if you’re aged 24 to 64, aren’t around kids, and don’t have serious health issues, you’re just going to have take your chances without the H1N1 vaccine.

Citigroup has been supplied with 1,200 units and Goldman with 200, says Jessica Scaperotti, press secretary for the Department of Health & Mental Hygiene. The agency has so far approved orders by 29 employers–including 16 that have yet to receive any vaccine–after they were cleared by the U.S. Centers for Disease Control & Prevention (CDC). Big employers that have received or are scheduled to receive vaccine so far include Time Warner (TWX), JPMorgan Chase (JPM), Memorial Sloan-Kettering, New York Presbyterian Healthcare System, and New York University.

Since we have the tendency to jump to conclusions, will assume there’s no plans to distribute any vaccines to any of the large accounting firms locations. Reaffirming our belief that the Rodney Dangerfield image remains intact for the accounting firms. Your best bet is to be on the client site of any company that has any systematic importance.
New York Businesses Get H1N1 Vaccine [Business Week via JDA]
Earlier: Deloitte Study Says That Half of You Aren’t Scared of Swine Flu. Tell That to a Backstreet Boy
Also Earlier: Our Token Swine Flu Post

Salary Satisfaction Poll Results

An official tally was necessary since it’s pretty obvious that Americans are way more hung up on money than our British counterparts. Results after the jump.


So satisfied I need a cigarette – 8.7%
Even if it’s bad, it’s still pretty good – 36.4%
I can’t get no satisfaction – 54.9%
Frankly, we expected a larger margin of victory for “no satisfaction” what with the ubiquitous Siberia treatment and some of the staff making more than you. We admire your resolve.
As for the 9% of you that are getting hot thinking about your paycheck, we’re assuming you’re either in a constant state of bliss or delusional. Kindly elaborate.
Thanks to all that voted!

Tom Petters Was Pretty Sure He Was Going to End Up in a Dumpster Somewhere

Thumbnail image for PettersSmile.jpgTom Petters doesn’t buy the whole Minnesota nice routine. Can’t say we blame the guy. If we were robbing people blind we’d be suspicious of every Marge Gunderson in the Twin Cities too.
According to a tape recording from yesterday’s proceedings, the stress of ripping people off for so long was causing him to freak out a little.

“Nobody’s paying us,” Petters said on the 30-minute recording made Sept. 22, 2008, by federal authorities with the help of Coleman. “I can’t stand lying to people every day.”
“We’re at a breaking point,” Petters said on the tape. “I can’t stand where we are. … None of us are OK. … We’ve got problems. I’m trying as hard as I can to find a way out of this. I don’t think we can all think clearly anymore.”
He said he was afraid that Robert W. Sabes, 69, formerly of Wayzata, and his son Jon R. Sabes, 43, of Wayzata, who authorities say had invested $17 million to $19 million, might kill him.
“Jon Sabes needs to calm down a bit,” Petters said, adding that he believed Sabes was connected to organized crime. “They are bad, bad people. I think he’d kill me.”

Now maybe this goes back to whole notion that TP had the attention span of a dog with above average intelligence (still a disservice to the breed in our book) but if you steal $19 mil from anyone, they’re going to want to kill you. Call it a hunch.
For the Sabes’ part, they may have had some shady connections but Tom Petters doesn’t strike us as the type of guy that attracted devout religious types. When reached for comment, Robert Sabes was quoted as saying, ‘I think he’s been watching “The Sopranos” too much.’
Yep. Pretty sure he was going to kill that guy.
Petters feared mob hit [Minneapolis Star-Tribune]

Rumor Mill: ‘Meeting with Partner’ Requests Going Out at PwC

Maybe it’s just an informational sit-down for the new P. Dubs tighty-whities that you’re all going to be expected to wear but our contributor, Francine McKenna had this ominous tweet:
Picture 1.png
Apparently someone else may have an itchy trigger finger. According to the comments over at RTA the emails have gone out to an office on the east coast but nothing more specific than that.
Keep us updated if you get a notice or if you know someone who gets a notice, or you know someone who knows someone, etc.

Caption Contest Results: KPMG Scary Stories

Not a surprising choice but we thought it would be a closer race. The winner, garnering 45.5% of the vote, after the jump.
Thumbnail image for RL-Stine-and-kids_350.jpg

KPMG hires replacements for staff who were laid off.

What’s not known is what kind of offers they are getting. It’s an absolute certainly that it includes the standard CYA language: “Due to the volatility of the current economic conditions, your starting salary may be adjusted to market at the time you begin employment.”
Thanks to everyone for voting and we’ll have the results from our salary satisfaction poll later today.

Preliminary Analytics | 11.05.09

TickerTapeParade.jpgBack on Top, Yankees Add a 27th Title – Economic recovery is secure. Now who’s paying for the parade? [NYT]
Senate approves jobless, housing aid – The crazies in the House are up next. [Reuters]
When Will the S.E.C. Ever Admit They Made a Mistake? – Joe Nocera understands who were talking about, right? [Joe Nocera/NYT]
A smooth IASB and an impairment change – “Corporate disclosures are about to get even longer if the International Accounting Standards Board gets its way.” [FT Alphaville]
Sarbanes-Oxley Exemption Passes Congressional Committee – “[N]ot only exempt[s] small businesses (with less than $75 million market cap), but would require the SEC, together with the GAO, to conduct a study directed at reducing the burden of Sarbox 404b on companies with market cap between $75 million and $250 million.” [FEI Financial Reporting Blog]

Your Words Say, ‘I want this job’ but Your Body Language Says, ‘I’m really interested in my shoes’

Thumbnail image for Thumbnail image for BelushiCollege.jpgIt’s our understanding that there are still interviews to go before offers are made so we thought we’d discuss some not so good things to do while you’re sitting across from your interrogator.
U.S. News & World Report lists 15 ways to annoy your interviewer and we’ll expand on a few to get the ball rolling:
Knee jiggling or finger drumming – Performing the Wipe Out drum solo is typically frowned upon in any social setting. Double thumbs down during an interview.
Playing with your pen – No one is impressed by your David Letterman-esque flipping technique.
Checking your cellphone – Um, yeah.
Nail biting; Sniffling; Picking at, rubbing, or scratching any part of your body – Bodily functions, while a fact of life, should be controlled as much as possible. If you think you’re going to explode, just internalize and try to keep your eyes from watering.
Smiling too much (or not smiling at all) – On the one hand, permagrin is totally acceptable if you’re planning to engage in a Seth Rogen marathon. Not so if you’re trying to get a job. If you’re totally incapable of smiling, this is also not good. Your mortician face will not go well around the office.
This is just a starting point. Since your life experiences are far more interesting, kindly discuss your strangest encounters as an interviewer or an interviewee. Since we’ve already discussed the words that are actually coming out of your mouth, we’ll ask that you stick with non-verbal faux-pas.

Review Comments | 11.04.09

Thumbnail image for Raj.jpgS.E.C. Likely to Charge More People in Galleon Case – Judge Rakoff wants the names by December 15th. Trial set for August 2, 2010. The legal system easily outpaces anything related to accounting rules. [DealBook]
Warren Buffett: Tax Hypocrite? – The man is nothing if not thrifty. [TaxProf Blog]
Breaking: Jones v. Minkin Dismissed!!! (Plaintiff voluntarily dismisses lawsuit against ATL.) [ATL]
Investor Groups Stump for FASB Independence – FASB defenders. Yes, they exist. [Compliance Week]
FASB Oversight Subject of Congressional Interest – Who knew so many people were interested in accounting rule-making? [FEI Financial Reporting Blog]

Hump Day Reminders: Polls and CPA Exam Question of the Week

Thumbnail image for RL-Stine-and-kids_350.jpgWe think it’s important to remind you that voting ends tonight at 11:59 PDT for our two polls from Monday:
Caption Contest Poll: KPMG Scary Stories
Satisfied with Your Salary?
So jump over and vote in both the polls. We’ll give you the results tomorrow.
Also don’t forget to submit your questions to us for this week’s CPA Exam Question of the Week. You can submit your questions to tips@goingconcern.com through tomorrow. Anything received on Friday will be considered for next week.

The IRS Is Taking Your Personal Information Seriously, Starting NOW.

Thumbnail image for IRS_logo-thumb-150x140.jpgSometimes we wonder if the Treasury Inspector General for Tax Administration (TIGTA) ever gets tired of telling the IRS that they are doing a lousy job at pretty much everything.
The latest finger wagging from the TIGTA in the Services’ direction has to do with following protocols for processing taxpayer requests for tax returns or transcripts:

Forty-three percent of taxpayer requests for copies of tax returns or transcripts were processed incorrectly or not in accordance with IRS guidelines…
The errors occurred because IRS employees did not always follow guidelines, or because the guidelines were unclear, inconsistent or insufficient in protecting taxpayer information. Existing guidelines allow IRS employees to process taxpayer requests for tax returns or transcripts without an accurate or complete Social Security number and to send copies of returns and transcripts to an address other than that provided to the IRS on tax returns.

Jesus, that’s reassuring. Naturally, the TIGTA is concerned about the American Taxpayer:

“Taxpayers have a right to expect that the IRS will take every measure to protect their tax return information from inappropriate disclosure,” said TIGTA Inspector General J. Russell George in a statement. “The protection of personally identifiable information is a responsibility that the IRS must take more seriously.”

First: judging by the IRS’ track record, they really don’t take anything too seriously, except, perhaps, anything to do with UBS.
Second: Taxpayers have rights? Since when? We’ve been bailing out banks and car companies and you’re concerned about our right to have our tax return information protected? That’s rich. We’ve all been violated to the point of numbness, J. Russell George. Next time, we’d prefer if you said, “The American Taxpayer can expect more of less from the IRS for the foreseeable future. We are in a constant quagmire over here. Please bear with us.”
Honesty. Consider it.
Tax Return Transcripts Expose Personal Information [Web CPA]

PwC Gets a Small Win in the Satyam Case

Thumbnail image for Thumbnail image for Thumbnail image for Thumbnail image for pwclogo.thumbnail.jpgHey, any win is a good win, right?
A has judge ruled that there was no evidence that the Delhi office had anything to do with the actions of the Bangalore office, the statutory auditors of Satyam.
The Institute of Chartered Accountants of India (ICAI) — the AICPA of India — had brought actions against PwC offices in Delhi, Kolkata, and Bangalore but the judge isn’t buying that they are related:

“They are separate partnership firms with separate balancesheets. There is no inter-connection (between PW Delhi, PW Bangalore and PW Kolkata [ Images ]) and profit and loss of one cannot be shared by others. You cannot say that the Banglore firm which was statutory auditor of Satyam has anything to do with Delhi firm,” said Justice Sanjiv Khanna.

The court did indicate that if the ICAI wanted to take another shot at Delhi — you know, with some evidence — if it so chose.
P. Dubs has to be happy with the small victory but would probably prefer if their previous suggestion to just forget this whole thing would start getting some traction.