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Apparently Shouting “Promote Me! Promote Me!” in a Partner’s Face Can Get You Promoted at Deloitte

Over in Ireland there's a case before the Workplace Relations Commission (WRC) right now that may be of interest to our readers, our readers being people who are all too…

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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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Once Again, a Mid-Tier Firm Beat Out Big 4 on This ‘Best Companies’ List

Fortune has released its Best Companies to Work For list for 2026 and we just realized we didn't cover it at all last year. Shrug, it's all just marketing anyway.…

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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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News

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illustration collage of stressed woman at work

Apparently Shouting “Promote Me! Promote Me!” in a Partner’s Face Can Get You Promoted at Deloitte

Over in Ireland there's a case before the Workplace Relations Commission (WRC) right now that may be of interest to our readers, our readers being people who are all too…

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Monday Morning Accounting News Brief: You Can’t Spell Audit Without AI; An Elaborate Scheme to Defraud the Air Force | 4.6.26

Hey. To our readers in tax let me just say you're doing great! Almost there! For everyone else, hopefully you're hanging in there as well. To everyone: be sure to…

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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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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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Technology

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guy getting a coffee from his AI buddy

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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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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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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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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Prisoner’s Dilemma and the Art of the BF

handsbars.jpgEditor’s Note: Robert Stewart is a former Big 4 auditor and ex-Marine who has since served in several executive management roles in both Internal Audit and Corporate Finance. He is also the founder and chief contributor to online accounting and audit community, The Accounting Nation. Outside of work, he is a husband, father, brother, writer, and woefully inadequate aspiring triathlete. To learn more about The Accounting Nation, go to http://www.accountingnation.com.
Everything in business these days is focused on teams and teamwork. And yet…in the worlds of accounting and finance…and especially in public accounting…the concept of teamwork often feels like such a joke.
More, after the Jump


There always seems to be that one douche bag that stays too late, gets there too early, inflates chargeability, eats hours, works weekends, foregoes vacation, or does some other trick in an attempt to make everyone else look bad and try to the be the superstar of the game. “Semper Fi…fuck the other guy” as the motto goes. And as a result of his selfish actions, causes everyone else to follow suit in order to compete in the marketplace. It raises the bar higher and higher, costing each person their sanity and ruining their long-term job satisfaction and work/life balance.
NO SEX SIGN 2.jpg
I like to call that person the buddy fucker, or BF for short. Every group or team has one. And as Dane Cook would say, “if you can’t think of who that person is on your team…then you ARE that person….I know…its funny because it’s true.” It’s so funny…because it’s so true.
If you could somehow get all parties to agree to a common set of working “rules” or standards, then everyone would be happier. But this, my friends, will never happen…and it’s because of a little thing called the Prisoner’s Dilemma. The Prisoner’s Dilemma describes a common strategic situation in game theory whereby two or more opponents in a given “game” must make a strategic decision, absent knowledge about what the other party will do, in order to maximize their individual payoff. Both parties inevitably end up choosing an option which results in a less-than-optimal outcome as a result of his or her lack of certainty about what the other party will do.
In other words, rational players (i.e. your fellow employees and staffers…it’s a stretch of a moniker…I realize) will always BF in order to protect their downside. If you make an agreement with your fellow staffers that nobody will work more than 50 hours per week and that one BF breaks ranks and works 60…everybody else looks like a slacker. So everybody protects their downside by working 60 hours…and everybody is worse off as a result of it. This applies to so many things in life and business…just think about the applications…mind boggling. But guess what…It’s just part of the Game…so get used to it…or get out of it. There’s no dignity in complaining. Accept and move on…

The Solution to All Our Fiscal Problems

stupid.jpgLeave it to the French. They’ve got the solution to all our fiscal problems. Whether we have the courage to follow their example is another matter.
The solution? Our frog eating friends have decided that they will start taxing people for their stupidity:
More, after the jump

The French Foreign Ministry is proposing a very narrow law requiring citizens foolish enough to wander into international danger zones, regardless of public warnings, to pay at least part of the cost of their own rescue.

For the purposes of our country, we would call for a much wider law that would encompass all kinds of idiotic behavior. For example, Brett Favre deciding to unretire again should be levied something in the neighborhood of 100% of his new salary. If he loves playing football so much, then he’d be thrilled to pay the tax.
The invasion of Iraq kinda goes without saying.
As for state budgets, New York and California’s fiscal crises would have been non-issues had a tax been placed anyone that was elected to those states’ legislative bodies.
Plus, since the amount of stupid behavior is so vast, legions of enforcement personnel would obviously be needed, putting many of you back to work. Pending your passing of an examination of course.
Discuss, in the comments, the appropriate tax levies for your most reviled stupid behavior by your fellow Americans that would solve our budgetary troubles. The existence of this blog/post is duly noted.
Stupidity Tax May Keep Dunces Out of Trouble: Celestine Bohlen [Bloomberg]

PwC Better Bring Their ‘A’ Game to This Year’s Oscars

OSCAR_INSIDER_hmed.hmedium.jpgWe’re not sure how long PwC has been counting the votes for the Oscars but we read some news this morning that made us pause with concern.
Apparently the Academy of Arts & Motion Pictures Sciences thought it was a good idea to change the voting rules for the Best Picture category back to the “preferential system” which was last used in 1945.
Our concern lies with the fact that this change in voting method might not mix well with the desire for routine that is forever embedded in the double helix of accountants, specifically auditors.
More, after the jump


The most common set of instructions that an auditor receives, as some of you well know, is “Do what they did last year”. This mantra, if not cast aside for the 2009 Oscars, could quite possibly be responsible for a material misstatement of epic proportions.
It’s far too early to speculate what films could be affected (maybe not) but we are concerned that since the awards are only six months away, the auditors don’t have much time to have at least a half a dozen meetings to discuss the ramifications of this decisions, let alone start planning, GASP, new procedures.
Best Picture voting gets a makeover [Variety]
Academy Makes Big Changes in Best Picture Voting [The Wrap]

Countdown to the End of Tax Season or Just the End?

tax man.jpgFor lots of you tax trolls out there, you might be seriously reconsidering your career choice at this particular moment. Oh sure, there are probably some of you who are so deranged that the excitement you feel at that this time of year is only rivaled by the stretch from mid-February to April 15 but you all need committed.
For the rest of you, the milestone of two weeks until the September 15th deadline is either the light at the end of the tunnel or simply just another day wandering in the darkness since you’ll be crawling across the ultimate finish line on October 15th.
So we’re calling on brave/insane tax soldiers out there to sacrifice a few moments of their chargeable time to let us know how it goes with two weeks to go until 9/15. Hours you’re working, the latest on post-deadline layoff rumors, nightmare clients, whatever moves you.
UPDATE: One source at a Big 4 firm describes it this way:

For me, it has been very reasonable. For others, it is miserable. The unreasonable requests are piling on to a teammate of mine. His senior gives him 40 hours of work and expects him to finish it in one night. They have no clue and shit rolls down hill. It’s amazing how poorly accountants gauge time. Sad.

Preliminary Analytics | 09.01.09

KenLewisNOPEb.jpg
BofA Seeks to Repay a Portion of Bailout – “Repaying this would mean BofA would no longer be considered an ‘exceptional’ aid recipient — a designation that has put it under a microscope by Congress and regulators, with its pay packages subject to review by the federal ‘pay czar'”. Ken Lewis isn’t going to take it anymore. [WSJ]
Madoff Liquidator May ‘Claw Back’ Charities’ Fake Profits – ‘Picard has an obligation to the bankruptcy estate to collect all the assets he can find and in theory he has to treat everyone the same way.’ Most thankless job ever. [Bloomberg]
Warning Signs: I Started Looking And The Bubble Burst… – Deloitte. Start listening. [RTA]
Icahn Pares Yahoo Stake With Sale of 12.7M Shares – Deal is done. Might as well work on GTFO. [NYT]
Corporate failures forecast to rise – “Insolvency specialists are forecasting a second wave of corporate restructurings to break in September as bankers and investors face problem investments.” [FT]
IRS to Mine Payment Data on Mortgages – “The Treasury inspector general said in a Monday report that tens of thousands of homeowners who paid more than $20,000 in mortgage interest in 2005 either didn’t file a tax return or reported income that appears insufficient to cover their mortgage interest and basic living expenses.” GASP. Someone living beyond their means? [WSJ]

Review Comments | 08.31.09

allen_stanford_1110321c.jpgAllen Stanford to undergo heart tests: lawyer – What lengths is this guy willing to go to in order to get released from prison? [Reuters]
Disney Buys Marvel In $4B Deal – The trickiest thing we foresee is reconciling comics sex with Disney sex. [NPR]
Least Informative Announcement – Citi isn’t too concerned with telling you what they sold, who they sold it to, for how much, or what they made or lost on the deal. They just thought they would do us all the courtesy of letting us know that something happened. [Floyd Norris/NYT]
Women, Testosterone, and Finance – “If they discriminate based on testosterone levels, isn’t that the same thing as discriminating based on gender (obvious extreme examples aside…i.e. Vera de Milo types)??” [Accounting Nation]
AIG’s New CEO Will Do Unspeakable Things To Andrew Cuomo. You Don’t Even Want To Know. [DB]

Handicapping Firm Failure

epic-failure.thumbnail.jpgGod bless the speculative and sensationalist British media. They’ve got no problem wondering aloud about whether accounting firms will be able to survive the backlog of lawsuits out there that amount to billions in damages sought by plaintiffs.
More, after the jump


PwC has already pointed out to everyone that they were not the auditors of King Ponzi’s empire but nobody cares because, the bloody money has to come from somewhere to compensate the victims. Plus, accounting firms have deep pockets and are likely to settle when in a tight spot, using insurance coverage. The problem now is that the suits are so big that insurance coverage may not be enough to keep the partners safe.
We’ve mentioned some of the more prominent lawsuits in our firm watch series of posts if you need to get caught up.
Natch, everyone laments about Andersen when the topic of firm failure comes up as it serves as a template of what can happen when a firm gets in serious trouble:

Andersen’s collapse highlighted the fragility of a global accountancy partnership. As soon as the extent of the fraud was made public, Andersen’s international divisions and partners not involved in the scandal detached themselves from the firm, making it impossible for Andersen to survive.

We’re not really sure what the odds of another Andersen sitch are but you can definitely count on firms continuing to get sued when there’s no one left after company failures and frauds. We’d invite our readers who are partners (or have partner-knowledge) to give us an idea what the feeling is in the current secret society re: the liability risk. Bonus points for former Andersenites’ stories.
We invite the rest of you to handicap the field for chances of failure in the comments. Ours, after giving it very little thought, appear in the tag line.
Billion-dollar lawsuit could destroy top accountancy firms [Telegraph]

Today in IRS Employee Chicanery

IRS_logo-thumb-150x140.jpgYet another example that should cause the IRS to seriously reconsider its employee screening policy, a now-former IRS compliance officer is looking at jail time after he thought it would be okay to swap a bogus audit report for $1,000 and assistance in finding an apartment.
More, after the jump


Web CPA:

[Fernando] Cruz…told the woman he could “fudge” their tax records so they would have less tax liability. Cruz coached the woman on how to answer questions during an upcoming audit appointment…and instructed her to say that she did not have receipts to verify expenses. Cruz also accepted $500 in cash from the woman and was told that he would receive another $500 if he could make their tax liability go away…the woman met with Cruz at his IRS office as planned, and Cruz prepared an IRS income form with the false information she provided. Cruz also mentioned that the woman might assist him in finding an apartment in exchange for his help to the couple on their audit.

Cruz pleaded guilty to accepting a bribe in exchange for preparing a false tax audit report for a taxpayer. He could also probably be found to be so socially awkward that he needs to be banished from society, since asking for a complete stranger’s help in finding an apartment is just plain weird.
Former IRS Employee Pleads Guilty to Accepting a Bribe [Web CPA]

Chrysler Auditor Switcheroo Follow-up (UPDATE)

We’ve confirmed with a Chrysler Spokesperson that the new entity emerging from bankruptcy has appointed Deloitte as the external auditors, a role that KPMG held for the entity that remains in bankruptcy:
More, after the jump

[We] can confirm that, as a new company, Chrysler Group LLC has appointed Deloitte as its external auditors. KPMG had previously served this role for the old Chrysler, which remains in bankruptcy. The new company, Chrysler Group LLC became operational on June 10, 2009.

Basically, as some have speculated, this may be a chance for Deloitte to poach the entire KPMG team, which, we have to admit, might not be a bad idea.
KPMG did not immediately respond to our requests for comment. Deloitte got back to us with no comment.
UPDATE: Chrysler got back to us with some additional information including
Why the change in auditors – “Chrysler Group LLC is a new company and, as such, the company has decided to appoint Deloitte as its new external auditors.”
If Deloitte was in the field – “Deloitte has begun initial planning work for the 2009 audit.”
KPMG’s remaining responsibilities – “We cannot address any services KPMG may be performing for OldCarco (the official name of the company that remains in bankruptcy).”
Nothing too surprising here except for the hilarious awesomeness of “OldCarco”.

Guess the Tab: E&Y Edition

Unfortunately our source didn’t know the final tab on this particular fiesta so we’ll put out for you to speculate.
Possibly a Bacardi bottle on the far left and maybe that’s Glenfiddich, second from the left, so we’re not talking top shelf but it’s also not that garbage that gets served out of the well. Plus, the receipt seems far too long for the number of bottle shown. Leave your best guess in the comments.
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Cash and Cash Equivalents, Insolvent State Version

statebudget_woes.jpgIs your state broke? Suffering from liquidity issues? Desperate to buff up municipal coffers? Worry no more, dear resident, if your state is anything like mine, they’ve got one hell of a plan up their sleeve.
Lots of bright ideas, after the jump


NYT:

With the economy floundering and tax revenues falling, governments and public authorities have tried to patch holes in their tattered budgets by charging new or higher fees for a broad range of services — including taking a civil service exam and operating a nuclear power plant.
The purpose of the many microcharges is to help avoid, or at least limit, broader tax increases. But with escalating fees for things like tanning bed inspections, pistol permits and marriage certificates, daily life can start to seem like a labyrinth of public-sector panhandlers.
There are increased payments required from cradle (birth certificates) to grave (plots in municipal cemeteries); in the workplace (licenses for private investigators, lifeguards and tax preparers) and at leisure spots (entrances to parks and public golf courses).

It doesn’t end there. Municipalities will have to make their pennies up wherever they can – this affects everything from parking meters to licenses (yes, even your precious CPA, little beancounter!), booze to license plates. “Fee-based government” is the new “tax and spend” and you can pretty safely bet that you’re going to get it squeezed out of you everywhere you turn. States argue that the policy allows them to make up vulgar budget shortfalls in the least offensive way possible, applying increased fees to specific services instead of vague, across-the-board tax increases.
We are used to this when it comes to the CPA exam as NASBA has increased fees every August as far back as I can remember (thankfully a beer is now $96 in California so my short term memory has increased as I’ve cut out discretionary spending and at the same time unintentionally solved my drinking problem that came as a result of my accounting job) and 2009 is no exception. It cost $809.71 in 2008 and is now $822.73. Putting this into perspective, just Audit would have cost you $159.25 in 2006. By 2008, it was up to $226.28 – keeping in mind that this is only the fee paid to NASBA and does not include re-exam fees and/or applicable State Board of Accountancy/Prometric fees.
Ouch. Don’t expect this to get better any time soon.

Recruiting Season Kicks Off

BelushiCollege.jpgClasses started for a lot of colleges in the past week and it sounds like some firms are already out there spreading their propoganda good word. At least according to one account, the early events have been well attended which fits with the notion that enrollment has remained high.
So if you’re a student, let us know what your early recruiting events have been like and if you’re a recruiter for a firm or a professional working these glad-handing fests, let us know your early impressions about next year’s newbies and interns.