• 88% of senior financial executives believe positions of CEO and chairman of the board should be separate – The latest from the press release elves. [GT Press Release]
• California Dreaming in Congress – “California just jacked up its withholding rates to force people to overpay their taxes, because the State decided it needs the money more than the subjects do. Most people find this sleazy and outrageous, which means Congress finds it inspirational.” [Tax Update Blog]
• IAASB Alerts Auditors to Get Skeptical on Confirmations – Don’t worry, the PCAOB is on the case too. [Compliance Week]
• PwC off the hook over Satyam? Not so fast! – Dennis Howlett has questions about yesterday’s Satyam ruling. [AccMan]
• House Extends Jobless Benefits and Home Credits – Passed by 391 votes. Next stop: BO’s desk. [NYT]
Layoff Watch ’26: Deloitte Auditors Got Bad News This Week
We only just now saw this as we hadn't gotten any tips about it and happened to see it on Reddit. Contrary to popular belief, we don't spend all day…
Someone at Deloitte’s Atlanta Office Doesn’t Rerack the Gym Equipment
So I saw this tweet last night as it was making the rounds. If you're still on Xitter you may have seen it too: If you're a long-time GC reader…
Evergrande Liquidators Want to Take an Extra Grande Bite Out of PwC’s Whole Pocket
It's already cost PwC China as much as two-thirds of their revenue due to regulatory punishments and reputational fallout, and now the collapse of long-time audit client Evergrande in 2021…
EY Gets Busted and Yeets Cybersecurity 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…
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…
Monday Morning Accounting News Brief: Is AI in Big 4 a Big Deal?; Consulting Isn’t For Everyone, Or Most People Really | 5.25.26
Good morning and Happy Memorial Day! I hope at least some of you have the day off and will be doing something fun and/or relaxing today. This will be a…
Friday Footnotes: Supposedly AI Isn’t Killing Offshore Hiring Yet; KPMG Cozies Up to Claude | 5.22.26
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…
CBIZ Ends Its Employee Stock Purchase Program
We received this on the tipline a few days ago, not much info but it's still a pretty decent happening so let's roll with it: CBIZ suspends employee stock purchase…
Layoff Watch ’26: Deloitte Auditors Got Bad News This Week
We only just now saw this as we hadn't gotten any tips about it and happened to see it on Reddit. Contrary to popular belief, we don't spend all day…
Evergrande Liquidators Want to Take an Extra Grande Bite Out of PwC’s Whole Pocket
It's already cost PwC China as much as two-thirds of their revenue due to regulatory punishments and reputational fallout, and now the collapse of long-time audit client Evergrande in 2021…
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…
EY Gets Busted and Yeets Cybersecurity 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…
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…
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…
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…
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…
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…
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…
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…
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…
Twitter Feed
LOL: Intuit Suffers Worst Plunge Since 2003 After Announcing Job Cuts
Fake call centres duping US citizens by impersonating a prominent American accounting firm busted in Bengaluru by Cyber Command Centre officials two arrested
(it was actually QuickBooks they were impersonating)
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,…
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…
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…
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…
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…
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…
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,…
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,…
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…
Would You Like Another Certificate on Your Wall?
We knew it. Lucky for you, there will be a brand spanking new certificate come May of 2010:
Because members will need to be able to demonstrate a competency in IFRS, the AICPA plans to launch in May 2010 an IFRS Certificate of Accomplishment for CPAs, which will require 72 hours of content to complete.
AICPA President and CEO Barry Melancon* is acutely aware of your disdain for paint and wallpaper so this latest certificate should fit in nicely with the myriad of other certificates on the wall of your office.
You’re certainly not ashamed of your handsomely framed “[Name] Has Successfully Completed Auditing Cash – 2004” certificate so an IFRS Certificate of Accomplishment will look damn good up there.
Melancon: Issues Facing CPAs Include Globalization, Economic Recovery [Journal of Accountancy]
*Two things: 1) How long has this guy been the HFMIC at the AICPA? Is it a lifetime appointment like the SCOTUS? and 2) How do you think he gets his hair to do that?
Will Big 4 Firms Get Access to the Swine Flu Vaccine?
No 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!
Layoff Watch: Update on PwC November ’09 Edition
We’ve confirmed that the layoffs have started.
The first casualty that we know of was out of the Boston office and worked in Forensic services. No severance details as of yet. Kindly update us with your office, service line and severance details.
Tom Petters Was Pretty Sure He Was Going to End Up in a Dumpster Somewhere
Tom 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:
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.
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
• Back 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’
It’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
• S.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
We 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.