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Even PwC Is Hyping Up GTA VI Now

With 14 days to go until the release of the most anticipated game of this decade, PwC has pushed out a bit of thought leadership-slash-economic analysis titled "Vice City, everywhere:…

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Open top secret envelope on a table

Deloitte Guy’s Love Life Has Become a Federal Matter

Last Friday, 42-year-old Ian Brinksman was picked up by the feds for allegedly passing top secret national defense information to another individual. Though that individual wasn't named by any reports,…

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robber takes PwC learning data

Hackers Have Apparently Stolen a Whole Lot of PwC Homework

Oh no, hackers have swiped oodles of slides! PwC has confirmed that a third-party vendor it uses for employee records has been breached after a "cyber extortion group" said they…

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PwC building exterior with sign

PwC Ekes Past EY With $60.2 Billion in Reported Global Revenue

Wow, Big 4 are really rushing out revenue numbers this year aren't they? First we got Deloitte in late September, EY two weeks later, and now PwC has just dropped…

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KPMG office but upside down because Australia

KPMG Australia Has Made a List of Things It Probably Should Have Done Already

...such as "support whistleblowers" and "punish people who do stuff that will give Australian Financial Review an easy 9 months of negative headlines." So KPMG Australia is still in its…

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News

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Monday Morning Accounting News Brief: PwC to Teach Thinking; Support Your Local Whistleblower | 11.9.26

Hey. Got some news for you so you have something that isn't politics to talk about at the water cooler. In this news briefPwC Will Certify ThinkersThat's a Big Number"People…

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Friday Footnotes: KPMG Settles With Investors; AICPA Proposes Outside Investor Guidance | 11.6.26

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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PS5 controller

Even PwC Is Hyping Up GTA VI Now

With 14 days to go until the release of the most anticipated game of this decade, PwC has pushed out a bit of thought leadership-slash-economic analysis titled "Vice City, everywhere:…

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Philippines currency, phone, and pen on desk

Turns Out Offshoring Isn’t a Cheap Forever Solution to Talent Problems

Well we knew this would happen eventually. An article published today in Accountants Daily is all about how small firms over in Australia are struggling to hire talent. Now, if…

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Grant Thornton sign with CBIZ taped on

CBIZ Shareholders Are Cool With the Grant Thornton Merger, the Deal is a Go (UPDATE)

Ed. note: This article was originally published on October 29, 2026. On November 2, 2026, both CBIZ and Grant Thornton announced the transaction had completed. We didn't think this deserved…

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Technology

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Just in Case You Were Unsure, IRS Official Clarifies AI Is Not a Person Under Circular 230

The Journal of Accountancy has published an interesting article about comments made by the director of the IRS Office of Professional Responsibility at the AICPA National Tax Conference yesterday, an…

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The Robots Want Your Emails, and the AICPA Has Concerns

Last month a pitch arrived in our editor inbox, the title of which was "Going Concern, meet the startup helping accounting firms turn old Slacks and emails into free money."…

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robber takes PwC learning data

Hackers Have Apparently Stolen a Whole Lot of PwC Homework

Oh no, hackers have swiped oodles of slides! PwC has confirmed that a third-party vendor it uses for employee records has been breached after a "cyber extortion group" said they…

Read More
woman being annoyed by clients

Bill Gates Predicts AI Will Be Taking Clients’ Most Tedious Questions 24/7 Within a Few Years

Did you catch Bill Gates' recent chat with Ezra Klein? I didn't, thankfully my washed colleague regularly reads NYT and sent it to me via Slack. Many people are stuck…

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Business guys with AI robots

The AICPA Wants Tax Pros to Take a Hit From Its New AI Risk CART

Rather than dropping a strongly worded letter on the topic of the IRS's position on AI in tax practice and dropping the topic there to focus on other pressing matters,…

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Practice Management

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Robot using calculator

Just in Case You Were Unsure, IRS Official Clarifies AI Is Not a Person Under Circular 230

The Journal of Accountancy has published an interesting article about comments made by the director of the IRS Office of Professional Responsibility at the AICPA National Tax Conference yesterday, an…

Read More
Vintage tin toy robot hiding behind orange computer circuit board

The Robots Want Your Emails, and the AICPA Has Concerns

Last month a pitch arrived in our editor inbox, the title of which was "Going Concern, meet the startup helping accounting firms turn old Slacks and emails into free money."…

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two gentlemen solving business problems

Finance Leaders Are Shopping for a CAS Partner, and They Brought a List

Cash flow, automation, fraud protection. Your firm can deliver all three. Finance leaders would like some help with the accounting. Not a little help, either. BILL asked 354 finance decision-makers…

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Man struggling with paper expense receipts

Expense Management: Because Apparently Clients Will Pay You to Make Expense Reports Suck Less

Spend and expense management is one of the most in-demand CAS services—and one of the most underutilized. There’s still plenty of room to get into the game. Clients are drowning…

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three piggy banks in front of chalk board

For Firms, Growth is Down But Profitability Is Up

That's the headline from INSIDE Public Accounting based on the results of their 2026 Practice Management Report: The report draws on survey responses from 605 North American accounting firms, spanning…

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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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screenshot of an IRS system outage warning

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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two gentlemen solving business problems

Finance Leaders Are Shopping for a CAS Partner, and They Brought a List

Cash flow, automation, fraud protection. Your firm can deliver all three. Finance leaders would like some help with the accounting. Not a little help, either. BILL asked 354 finance decision-makers…

Read More
Man struggling with paper expense receipts

Expense Management: Because Apparently Clients Will Pay You to Make Expense Reports Suck Less

Spend and expense management is one of the most in-demand CAS services—and one of the most underutilized. There’s still plenty of room to get into the game. Clients are drowning…

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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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Review Comments | 11.13.09

Thumbnail image for Thumbnail image for Tax Code.jpg• Fix the Tax Code Friday: Targeted Enforcement – Top three targets: 1) offshore accounts; 2) pass-through entities; 3) high wage earners [Tax Girl]
• Securities Regulators to Talk Financial Literacy With Students – And the regulators might learn something. [SEC.gov]
• 2 Programmers Are Charged With Aiding Madoff – Bor-ing. Family members next time please. [DealBook]
• BYU Sweeps 2009 Deloitte Tax Case Study Competition – See? Caffeine isn’t necessary. [TaxProf Blog]
• Hard Times and Bad Behavior – Are you shoplifiting? [Financial Armageddon]

‘Swashbuckling Industrialist’ Tom Petters Is Going to be Responsible for Putting Senior Citizens on the Street

petters_plane.jpgFor those of you that were maybe developing a soft spot for Tom Petters because, among other things, his own lawyer doesn’t think too much of him, the latest testimony in TP’s trial should help squash your sympathy.
Janet Leck, a 79 year old widow, was convinced by Frank Vennes, Jr. — an evangelist who “steered unwitting investors to [Petters]” — to invest her money with Tom Petters. At one point Vennes, apparently having reconnected with the Almighty, told Leck that he was ending his business relationship with TP because of ‘things he was seeing in Mr. Petters’ personal life’ and was returning her money.
Now, one could assume that Vennes was getting the creeps from Petters because either: 1) he realized that Petters was a complete man-child that couldn’t finish a copy of Go Dog Go! or 2) typical hooker/llelo chicanery.


Two years after dumping Petters for his sinful ways, Vennes decided redemption was in order (or, most likely, he just missed the hookers) because he went back to TP and got the Lecks to invest with him again:

She re-mortgaged her home and drew out $190,000 in equity to invest with Petters, she said. Leck said she relied on the $3,400 monthly payments from that loan for living expenses until September 2008, when authorities raided Petters’ home and business looking for evidence that he was running an alleged $3.5 billion Ponzi scheme.
Now, unless she can restructure her mortgage, Leck said, “I’m looking at foreclosure. …I will move from my home of 30 years.”

In other overwhelmingly convincing testimony, investment banker Michael Liss described Petters, “as a ‘swashbuckling industrialist’ who had an arsenal of ‘ridiculous’ excuses for not paying his debts on time.”
Ridiculous excuses like, “Do you treat your other swashbuckling industrialist clients this way?” or “I’m busy ripping off senior citizens. Do you mind?” OR “My ass is going to end up in dumpster any second, sorta busy.”
Petters trial: Retired widow fears losing her home [Minneapolis Star-Tribune]

Bennie Bankes Poll Results

We have a landslide on our hands. Not only are most people we talk to disturbed by the suited swine, the winning caption was a clear choice.
Thumbnail image for Thumbnail image for ben bankes at the NYC marathon.jpg

Big 4 partners adopt truth in advertising and are wearing pig costumes to all recruiting events.

With over 55% of the vote. Now, just for the sake of argument, anyone could wear the costumes to the recruiting events, people, not just partners. Embrace the truthiness.
Thanks for voting!

Job of the Week: Cash Money

Thumbnail image for Thumbnail image for hire me2.jpgSomeone has to manage the ins, the outs, the what have you’s related to the cash position of every company. It’s kinda an important job. Maybe your next job. Get the details for a Treasury Analyst position, after the jump.


Title: Treasury Analyst
Location: Chicago
Experience: 3 – 5 years
Responsibilities: Manage daily data collection process; Primary input of receipt and payment data in treasury system; Assist in timely payment of international and domestic wires; Report foreign currencies balances daily to help maintain proper liquidity; Support review of carry broker statements for margin excess/deficit funding needs; Maintain log of non-receipt of wires; Assist with investigation & documentation of all wire differences; Maintain overdraft listing for processing by Cash Manager; Review previous day’s balances and investigate missing items.
Skills: Treasury experience 1-5 years; Fast and accurate data entry skills; Cash management, payment systems experience; International and domestic payments procedures and requirements; Customer Accounting, Banking, Exchange, General Ledger Systems; Generally accepted accounting principles and financial reporting requirements.
Check out the entire description over at the GC Career Center and check out the main page for all your pavement pounding needs.

>75: Who Is Going to Pay for My CPA Exam Materials?

empty wallet.jpgEditor’s note: Welcome to latest edition of >75, our weekly post on questions that you have 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.
It’s a question I get all the time at work. “I’m starting with such-and-such firm, do they pay for your CPA review course?”


So! A commentator asks >75 the same question:

I did a bit of research, and it turns out that PwC is the most generous – paying for Becker + Flashcards, while E&Y will not pay for the Flashcards, and KPMG apparently requiring [sic] its staff to attend live classes offered by Becker, and have signed attendance sheet to get the reimbursement.

First of all, smarty, what makes you think pre-packaged flash cards are your secret to CPA exam success? If anything, it has been my professional experience that candidates who make their own flashcards do better than those who rely on a review course to make them on their behalf. I had a student who admitted his handwriting was so bad even he couldn’t read it but just the act of creating a set of note cards for FAR helped him reinforce the key topics. So just because you get a bunch of shit for free doesn’t mean you’re any better off than the guy who had to charge his review course or skip a couple happy hours to pay for it.
As you probably know, the firms do not discuss their agreements. I know what they are but I’m not telling either. That being said, in this economy, I’m not sure if you think you’re going to get a free CPA Review ride. Um, you did comment on a layoff post after all.
I deal with quite a few public accounting HR staff as a result of my job and let me give you a hint: there’s no such thing as a free ride on the other end. They are reluctant to hire if they think they will be used for a free review course and a CPA to sign off on hours like some cheap whore.
The firms are tightening their belts and they are most certainly being more conservative about hiring bodies to fill chairs and kicking down $1,500 – $3,000 for review courses. You might be sick of it too if you paid for staff member after staff member only to be abandoned the minute that staff hits 2 years. Those days are over.
My advice? Ask around but don’t count on it and don’t you dare let on that you care in an interview; HR managers that I know will instantly – albeit silently – slide your pathetic little resume to the bottom of the pile in favor of someone who has already started on the CPA exam process without their hand out.
As someone on the original post from which this question came said:

all of you, seriously, this is the most important thing right now to you?? suck it up and take the exam. it is not your god given right to get reimbursed for everything. and besides, you morons missed the biggest things about the exam and passing it – the bonuses firms pay to pass it. the reimbursement is the smallest piece of it. the bonus is the bigger issue. but you are so busy talking nonsense about flashcards you miss the big picture. you should have been part of the lay offs

Amen! (Someone please tell me that guy passed??)

Layoff Watch ’09: Grant Thornton

Thumbnail image for Thumbnail image for Grant-thornton-logo.JPGThere’s a lot of chatter about layoffs at Grant Thornton this week but we’re scant on details. So far, we’ve heard there were cuts in New York, Dallas and possibly the Southeast region.
And just for the hell of it, we called up GT to see if they could tell us anything. Unfortunately we just got voicemail but we’ll update you if they get back to us (they might, don’t be so pessimistic).
If you have more details, get in touch and ask around to your peoples that work in the House of Nusbaum to find out what’s going down.

Caption Contest Friday: Is Your Career in the Crapper?

A reader working at a client site showed us where she and the rest of her audit team will be sitting for the next three weeks:
crapper.jpg
A little background/TMI: Naturally our first question was, “Is anything audible?” to which she replied, “We definitely know who has a weak stream around here.”
Same rules – Submit possible captions for all the photos in the comments. We’ll choose our favorites — with preference given to those with an accounting/auditing bent — and then let you vote for the best one. Impress us.

GC November Survey: Last Call

beer.jpgThis will be our final request for you to participate in our completely harmless, yet immensely helpful, one question survey.
Thanks to everyone that has already taken the survey. If you haven’t taken the survey, are you aware that for ten seconds of your time, you can win a $50 AMEX gift card? Do the math, it’s worth it.
We suggested that we should hand out gift cards to everyone but we don’t call the shots around here.
Have a great Friday and thanks for participating!

Preliminary Analytics | 11.13.09

hong-kong.jpg• After Switzerland, U.S. Said to Aim at Hong Kong – You offshore money will be found. [DealBook]
• The Dilbert Guide to Angry Investing – [Idea of the Day/NYT]
• Alleged Ponzi Scheme Likely To Top $1 Billion, FBI Says – In the Ponzi du jour, Scott Rubenstein is accused of selling bogus legal settlements to investors. [WSJ]
• Roomy Khan Tipped Several People In Galleon Case – Diabolical. [Reuters via NYT]

Review Comments | 11.12.09

Thumbnail image for crocs533.jpg• Porsche confirms big annual loss – So you file a stupid lawsuit against Crocs? They don’t have any money, you dolts. [BBC]
• More on The Tax Treatment of the Sale of Human Body Parts – There’s a market people. [TaxProf Blog]
• Balloon Boy Parents to Plead Guilty – “Our long, national, helium induced nightmare is almost over.” [ATL]
• The Goldman Sachs Foundation’s torrid 2008 – Team Jehovah’s foundation lost a lot scratch doing their share of the Almighty’s work. [Felix Salmon/Reuters]
• Economists See Fed Raising Rates Near Midterm Elections – Annnnd unemployment will still be near double digits. Enjoy, incumbents. [WSJ]