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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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EY building exterior with sign

EY Didn’t Do Too Bad Last Year

Shortly after Deloitte released their 2026 revenue numbers on September 24, EY had some numbers of their own, announcing $57 billion in global revenue last week. Notably, they edged out…

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The King’s Deloitte Got Hit With a £6 Million Fine and a Homework Assignment For Questionable Auditing

The Financial Reporting Council announced £6 million (nearly $8 million USD) in sanctions against Deloitte UK today and honestly, this client sounds like a mess. But messy clients are what…

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KPMG building but upside down because Australia

Scandal-Embattled KPMG Australia Hits Up the Global Body to Borrow a Few Bucks

This information comes from Australian Financial Review so it's legit: KPMG Australia is seeking up to $100 million in emergency loans from the firm’s global network as well as a…

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Deloitte sign

Deloitte Saw Another Year of Single-Digit Growth, a Respectable $74.5 Billion in Revenue

It's revenue season! Traditionally Deloitte is first to report and report they have: $74.5 billion in global revenue (unaudited). Last year, the firm was the first Big 4 to cross…

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News

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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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EY building exterior with sign

EY Didn’t Do Too Bad Last Year

Shortly after Deloitte released their 2026 revenue numbers on September 24, EY had some numbers of their own, announcing $57 billion in global revenue last week. Notably, they edged out…

Read More
cat on a porch in autumn

Monday Morning Accounting News Brief: KPMG Might Be Moving in Chicago; Hope You Like Sales | 10.12.26

Happy Columbus Day to those who celebrate, happy nondescript Federal holiday to everyone else. There are a few things going on today but it goes without saying that this will…

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Border Collie with an autumn leaf

Friday Footnotes: Accounting Education Could Use a Catch Up; Whistleblower Says IRS Leaked His Tax Records | 10.9.26

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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Deloitte exterior sign

The King’s Deloitte Got Hit With a £6 Million Fine and a Homework Assignment For Questionable Auditing

The Financial Reporting Council announced £6 million (nearly $8 million USD) in sanctions against Deloitte UK today and honestly, this client sounds like a mess. But messy clients are what…

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Technology

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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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AI apps on a phone screen

Deloitte Survey: A Lot of People Are Using Clandestine AI at Work

As corporations everywhere shove AI down our throats and businesses wrestle with the conflict between rushing to integrate AI to not be left behind and having to pay for it…

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robot holding money

Bill Gates Proposes a Tokens and Robots Tax

Bill Gates has written a loooong essay on AI covering all sorts of things from potential benefits to immediate concerns. Feel free to read the whole thing if you'd like,…

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Firms (and Some Guy Obsessed With China) Have Weighed in on the PCAOB Turning an Eye to AI

The comment period for PCAOB Release No. 2026-005 Request for Public Comment on PCAOB Standard Setting has closed and when all was said and done, it racked up an unremarkable…

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Practice Management

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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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1040 tax return with money

AICPA Pushes Back on IRS Suggesting CPAs Should Charge Less If They’re Using AI

Back in June the IRS Office of Professional Responsibility (OPR) issued its first solid AI guidance in the form of a bulletin titled Introductory Guidelines for Responsible AI Use in…

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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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Quick Reads

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person counting money at her desk, piles of papers and calculator

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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Guy with a migraine surrounded by work

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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sorry we're closed sign in business window

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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an office trash can with paper

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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men juggling on a plain, black and grey

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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Religious Freedom Hanging By a Thread at the IRS?

kirpan.gifOkay maybe that’s a stretch but we’re guessing, what with all the rebellious employees, that the IRS is a tough place to work. Because of this high stress environment, normally rational people may jump to conclusions about otherwise harmless religious symbols.
A judge recently dismissed most of the legal claims of a former IRS revenue agent that wore a kirpan to work.
Continued, after the jump


Web CPA:

The revenue agent, Kawaljeet Kaur Tagore, sued the IRS after she was fired in July 2006 for wearing a “kirpan” to the IRS office in Houston…The blunt knife is traditionally worn in a curved sheath and is supposed to act as a reminder of a Sikh’s duty to protect the weak and promote justice for all. Tagore’s supervisor objected to the dagger, even though she claimed it never set off the metal detector in her building, and she was told to work from home.

How can you not get behind protecting the weak and justice for all? Still, Tagore was fired after refusing to wear a knife with a shorter, 2.5 inch, blade and returning with the 3 inch knife even though, as the original story reports, she had sharper items in her office, including her scissors.
Tagore filed suit earlier this year:

claiming that the government’s conduct violated both the Religious Freedom Restoration Act of 1993 and Title VII of the Civil Rights Act of 1964. The defendants included the IRS, the Treasury Department, the Department of Homeland Security, former Treasury Secretary Henry Paulson, former Homeland Security Secretary Michael Chertoff and several of Tagore’s supervisors.

Bad news is that the judge threw out the some of the Title VII claims but good news is that the one against T. Geith still remains. We’ll continue to follow this story if new developments happen to drop on another painfully slow news day.
IRS Dagger Carrier’s Claims Partly Dismissed [Web CPA Debits & Credits]

Where are Deloitte’s Revenue Results?

small salzberg.jpgAccountancy Age reports that P. Dubs still retains the most FTSE 100 clients in the UK while KPMG retains the largest amount of clients overall.
BFD, right? Stateside it’s all about the scratch. This begs the question of why the hell we haven’t seen any revenue results out of Deloitte yet. KPMG is too far out and P. Dubs and E&Y will be reporting next month.
But the Big Four Blog points out that Dr. Phil and Co. reported revenue in July last year but here we are approaching Labor Day (or for some, just the weekend) and not a peep.
We’ve contacted Deloitte about this and will update you with their response just as soon as we hear back. In the meantime, feel free to wildly speculate about the delay in the comments and what the fiscal year ’09 number will be. Last year global revenue was $27.4B so we’ll put over/under at $28.6B. Takers?

Firms Sponsoring Golfers – An Analysis

Accounting firms don’t do much advertising. It’s got something to do with ethics and since the CPA exam is ancient history for some we can’t talk specifics.
Firms do like to sponsor stuff related to golf. Tournaments, players, etc. One recipient of accounting firm cash has been widely followed here but now we recently discovered another firm sponsoree that, we feel, may rouse as loyal of a following as Phil.
natalie.jpgThis is Natalie Gulbis who is sponsored by RSM McGladrey.
Natalie works with RSM in partnering with the Special Olympics Golf Program and will be a contributor to RSM’s new golf blog.
We’re not really into golf so we can’t really debate who has a better game or who garners better exposure for their sponsor so, after the jump, we’ve presented a more superficial analysis:


phil-mickelson.jpgnatatlie 2.jpg
We admit that we know nothing about promotion or advertising but if you’ve got opinions on which firm seems to have found the better golfer to sponsor, discuss in the comments.

Preliminary Analytics | 09.02.09

23otb.jpg• OTB 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.jpg• College 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]