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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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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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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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two dogs in a playground slide

Friday Footnotes: Career Ladder is Out, Career Playground Is In; AI Ranks as Leading Ethical Challenge Facing Accountants | 10.16.26

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 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…

Read More
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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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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colorful comment blocks

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…

Read More

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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SHOCKER: Doesn’t Appear that Stanford Auditors were Doing Any Auditing

allen-stanford_1018295c.jpgLast week’s indictment of Allen Stanford has brought up the always popular question when fraud, occurs: “Who are the auditors that were asleep at the wheel of this disaster?”
Well, in this case, the auditors were a local UK two-person shop, CAS Hewlett, which must be Queen’s English for Friehling & Horowitz.
It doesn’t appear that CAS Hewlett has a website, but they’ve been doing the Stanford “audits” for at least 10 years, so obv they’re legit. PwC and KPMG both have offices on Antigua but Stanford preferred to stay with its “trusted firm”. Totally understandable.
And the best part? The founder of the firm, Charlesworth “Shelly” Hewlett died in January, approximately a month before the story broke on the Ponz de Stanford.
This all adds up to who-the-fuck-knows if audits were even occurring and for us to speculate if Shelly needed to get got because Stan knew that the poo and fan were coming together. Just sayin’.

Scoping | 06.22.09

U.S. seeks delay on calculating Madoff restitution – Sentencing will not be delayed. Whew! We’re not sure if we can wait much longer for victims’ statements [Reuters via DealBook]

Sorry America, We Still Have No Clue What To Do About ‘Too Big To Fail’
– Newspeak phrase of the day: “Tier 1 Financial Holding Companies” [Clusterstock]

All together now: ‘F is for failure’
– Hey, it’s all around. Somebody’s got to talk about it. [FT Alphaville]

UBS Closer to Getting the McCarthy Treatment

IRS_logo-thumb-150x140.jpgIf you’ve got a Swiss bank account, here’s hoping you opened it because it was convenient for your monthly skiing/Toblerone getaway.
The U.S. and Swiss governments have agreed to share more tax information in order to crack down on all the tax dodgers out there that send their money offshore. The timing of this agreement is is especially diabolical because the IRS is currently trying to get Swiss bank behemoth UBS to name names of over 50,000 American clients.
Hearings in Miami are scheduled for next month to see if the names can be released, however, the Swiss have stated that this may violate Swiss law of double-secret-no-tattling-on-clients.
Ultimately, the Swiss Federal Council and Parliament will decide if the new agreement is kosh but judging by the Obama Administration’s hard-on for closing tax loopholes, they’ll probably play ball.

U.S. and Switzerland to Share More Tax Data
[DealBook/NYT]

No Raises, Bonuses From Accounting Firms May Result in an Exodus that Moses Would be Proud of

moneybag.gifThere has been lots of gossip out there about accounting firms freezing pay and skipping bonuses this year. Not surprisingly, this has been welcomed with a resounding “fuck this” by many of you.
Tough job market and near-apocalyptic economic conditions notwithstanding, you can’t really blame people that are ready to jump ship after billing more hours than they ever have before and then are told, “Thanks for all your help this year. Oh, and we can’t even afford to give you a cost-of-living increase.”
Considering the layoff bloodbath that has occurred in the past 12 months, which includes partners, one has to wonder why the hell these firms are continuing to slash costs. Many survivors of the massacre will get over the whole “thankfully I have a job” mentality when they’re welcomed with a new low in gratitude from their employers.

Firms face struggle to keep hold of top talent
[Accountancy Age]

Face It People, Nothing Much Can Be Done About the Revolving Door

Revolving_Door2.jpgThere’s constant conspiracy theories bellyaching about certain companies getting their former big shots into public service and regulatory positions (we’re talking about you, Maxine Waters).
Well now there’s speculation about former Big 4 partners working at the IASB.
We get it, those who used to work at the big firms shouldn’t be writing the rules. So who the hell is going to do it? Shall we have the likes of Friehling & Horowitz appointed as the standard setters?
The large firms have the biggest pool to choose out of, so natch they’re going to have some of the better candidates to delve into this wonky rule-writing stuff. We’re probably lucky that there are people out there that actually want to serve on these boards, lots of Big 4 partners can barely turn on their computers.

In Case You Need Another Reason to Hate the French

french flag.jpgWalking around the PwC office in Midtown Manhattan, our blogospondent in the field happened across a couple of young ladies having the picture taken in front of the P Dubya sign out front, proudly posing as if it was their names on the building at 300 Madison.
Said blogospondent approached the young ladies and asked if they worked at the P Dub and they responded in heavily French accents, “yes”. As result of further prying, it was revealed that the ladies do work a lot during “busy times”, sometimes between 50 and 60 hours a week!
This compared to an American tax associate who we spoke to just a couple days before who, in the last fifteen days, had worked 185 hours.
Let’s recap: America – 185 hours in 15 days in the middle of June vs. France – 50-60 hours in one week during the “busy time”.
American vitriol towards the French may now ensue.

About to Get Canned? Depends on Your Response

With all the uncertainty out there, for the first time, number crunchers are walking on eggshells, because, you know, if anyone gets the hint that you’re not busy enough, before you realize it you’re turning in your badge and corporate card with $500 of still unexplained expenses on it.
Here at Going Concern, we’re looking out for you, so that’s why we’re going to lay out some indicators for you so you can tell if you are about to get axed or if you should just buckle down and call for take out because your ass isn’t going anywhere.
Here are some common responses to the awkward icebreaker that is common around most offices, “You busy these days?”:
• “Ugh, you know how it is” – You’re safe. Maybe it’s the bags under your eyes, your shirt being on inside out, or maybe you just reek of tequila because you spent the four hours prior to returning to work reliving your days at Tappa Megga Kegga. Unless you plan on going postal at the office, you’re not going anywhere.
• “Oh pretty busy” – Watch yourself and lay low. You’ve got stuff to work on but not enough to keep you at the office past 6 pm. Every once in awhile you’ll stay late and catch up on your Netflix queue in order for it to look like you’re not leaving GASP too early.
• “I’m working on a project for HR” – Dust of the resume. The only reason they’re keeping you around is to bide time until judgment day when the rest of the people are going down with you.
Rumor around the campfire is that some of the firms are billing far fewer hours than are budgeted which could spur some additional cuts so watch out for responses similar to the ones above. The bloodbath may not be over yet.

Grant Thornton and the Antichrist

al pacino_devil.jpgIt’s rather mysterious that the New York office of Grant Thornton is located at 666 Third Ave. As I’m sure our more pious readers know, the significance of the 666 is commonly known as “The Number of the Beast“. We won’t get into any more specifics than that other than to mention that it is a pretty creepy-ass looking number.
Is G to the T run by a secret group of Al Pacino-esque figures that are working against the forces of good?
Maybe not but the otherwise boring-assness of that particular lobby is def working too hard to not be noticed…