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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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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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Friday Footnotes: Maybe Deloitte Doesn’t Need Employee Trust and Retention; Minnesota Wants to Tax Fraud at 100 Percent | 5.1.26

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 office exterior with scissors overlay

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…

Read More
Aerial view of the Pentagon

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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woman having coffee with her dog

Monday Morning Accounting News Brief: 990s to Get a Facelift; DOJ Gets Busy Busting Fraud | 4.27.26

Hey. Looking like this is gonna be a short news brief, it was a quiet weekend. In accounting, anyway. In this news briefEveryone Loves an Informative 990The Official IRS Shit…

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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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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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Preliminary Analytics | 09.02.09

23otb.jpgOTB Is in Financial Trouble, but It’s Ready to Roll – Sometimes, time-honored traditions such as OTB are allowed certain concessions. [NYT]
Madoff Details, and Property, on Tap – “[Inspector General David] Kotz turned over the report to SEC Chairman Mary Schapiro late Monday, and it is likely to be released within a week after the SEC’s five commissioners review it.” Probably no details on girth, etc. [WSJ]
Disney Deal Could Spark Imaginitive M&A Ideas “When merger momentum really gets going, companies splash out for takeovers that make little sense to anyone except the investment bankers involved.” [DealBook]
Stanford Back in Jail After Medical Tests – An aneurysm can’t keep Stan out of jail. DON’T MESS WITH TEXAS. [DealBook]

Review Comments | 09.01.09

michigan.jpgCollege Football Coach Follows Lead of Ponzi Kings – Go Blue. [DB]
Canadian Deloitte Partner Fined $235k for ‘Shoddy Accounting’ [JDA]
Mormons Become Victims in $50 Million Scam to Sell Gold Bullion – Mitt Romney was NOT involved. [Bloomberg]
Wells Fargo Expects to Repay TARP Soon Without New Share Sale – We still haven’t seen a dividend check [Bloomberg]
Buffett Helped AIG, XL – at a Price – “Both insurers signed so-called cut-through endorsements with a subsidiary of Berkshire Hathaway Inc. to offer some policy holders a guarantee that if the insurers couldn’t pay claims, Berkshire Hathaway would.” The man is nothing if he’s not good with money. [WSJ]

One More Way Facebook is Working Against You

facebook at work.jpgSomehow we missed this last week but whatevs. State taxing authorities are apparently getting the swing of this whole Internet phenomenon.
We really thought the IRS had taken their game to the next level by putting videos on YouTube but States are really getting crafty by using social networking sites and Google to catch tax scofflaws.
Continued, after the jump


WSJ:

In Minnesota, authorities were able to levy back taxes on the wages of a long-sought tax evader after he announced on MySpace that he would be returning to his home town to work as a real-estate broker and gave his employer’s name. The state collected several thousand dollars, the full amount due.

This has us a little concerned. One minute you’re updating your Facebook status as “Just won $500 at my weekly poker game,” just to rub it in everyone’s face, and the next thing you know you’re filing an amended return because some jerk you met at a party, and for some reason added as a friend, happens to be an IRS agent and takes his job really seriously. Is no cash-only operation sacred?
And it doesn’t matter if you’re not into online social networking:

Now, when a tax dodger can’t be found, said Nebraska tax official Steven Schroeder, agents often turn to Google. One agent collected $30,000 of unpaid tax from a resident after a Google search found him listed as a high-ranking local marketing rep for a national firm.

Face it people. One way or another, you’re going to participate in your patriotic duty.
Is ‘Friending’ in Your Future? Better Pay Your Taxes First [WSJ]

The Enigma of Business Casual and Other Questions Recruits Ask

business casual?.jpgWe brought up recruiting yesterday which brings up many questions from the students out there who are looking to impress the firms that are coming to campus.
KPMG has some suggestions including getting a haircut and reminding everyone that “college attire does not necessarily equal business casual attire”.
This is good to know because sometimes wearing your sweats to class gets really convenient and changing clothes should typically delayed until you’re ready to go to the bar.
Since we have some the best and brightest readers we’ll put it out to them to give the co-eds some suggestions on how to land their first gig. Our only suggestions would be to show up sober and wear shoes but use your judgment as such formalities are often overrated.

Problem of the Day: Boring Repetitive Work Papers

bored.jpgA reader pointed out a problem that plagues many of you in the number crunching universe: writing work papers, emails or other documentation that are incredibly boring and repetitive.
We’ll take that a step further and put it out there that speaking styles among accountants also take on a certain, shall we say, monotony.
More, after the jump


Nearly all accountants’ writing and speaking styles include these words or phrases:
• As such
• Notes
• Pretty straight forward
• Let me know if you have any questions
• Circle back
Clearly, accountants are not English majors. Short of putting a thesaurus on everyone’s desk, we’re not really sure how this can be remedied. Inserting the occasional curse word can add some shock value but this attempt to spice things up may be short-lived depending on your co-workers tolerance for vulgarity.
The list above is obviously not a complete one. Discuss in the comments the most annoying language that you see or hear on a daily basis and if you’ve got suggestions on how to make your day to day interaction more exciting, we’re all ears.

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]