October 24, 2020

coronavirus

Wayne Berson Admits He Is Driving Some People Crazy at BDO USA

In a wide-ranging interview with CJ Prince of Chief Executive magazine, BDO USA CEO Wayne Berson used “BDO” and “powerhouse” in the same sentence, said “no one wants to go to the 5th best firm” (you got dissed, RSM US) but “we don’t see ourselves as inferior to the Big Four,” and explained what CLIMB means […]

Tracker: These Accounting Firms Have Either Cut Jobs or Pay (or Both) During the COVID-19 Crisis

[Updated on Oct. 19 with information about BDO USA.] In case you haven’t noticed, there have been a lot of salary reductions and jobs lost throughout public accounting over the past couple weeks as a result of the coronavirus pandemic. And it sucks. So we’ve started compiling a list of firms that have resorted to […]

Layoff Watch ’20: EY Ireland Is Letting Go of 36 Non-Client-Facing Staffers

Let’s see, since the start of the pandemic, EY has done performance-based separations layoffs in Canada, Israel, Mexico, and, of course, the U.S. Now we can add Ireland to the list. This just hit our tipline: Not as impressive as the few hundred pink slips being given out across the US, but it was announced […]

Number of the Day: $868,000

That’s how much Canadian companies paid on average in audit fees in 2019, up from $621,000 in 2018, according to a post by our friends at Canadian Accountant, citing research from Audit Analytics: “Since 2007, the average amount of audit fees per Canadian company has continued to increase each year, with the largest increase coming […]

Number of the Day: 1,114

That’s how many consultants Deloitte UK has deployed to work on a coronavirus contact tracing project for the UK government. Some other notable numbers: The Department of Health and Social Care (DHSC) has engaged the services of other consultants from McKinsey, BCG, PWC, KPMG and EY as well however the number of consultants from all […]

Let’s All Shed a Tear For Deloitte Partners In the U.K.

Sadly, Deloitte partners are probably going to have to put off buying that new McLaren 720S or Mercedes-Benz S-Class until next year. The Times reported today: Partners at Deloitte are in line for a 17 per cent pay cut after revenue growth slowed during the Covid-19 pandemic. The 709 equity partners of Deloitte’s British arm […]

Marcum Has Positive COVID Case, Still Expects Employees to Come to the Office Bright and Early on Oct. 1

[Updated with additional information.] As I am writing this, it is 12:30 a.m. ET on Oct. 1. Happy first day of October, everyone. And happy return-to-the-office day for all of you Marcum capital market servants. Especially to the employees who work at the firm’s office in New Haven, CT. These poor folks still gotta come […]

Layoff Watch ’20: It’s Pink Slip Day at KPMG

[Updated on Sept. 30 with additional information.] Two days before the start of KPMG’s 2021 fiscal year, massive layoffs unfortunately occurred at the firm on Tuesday. We received confirmation that 1,400 people, less than 4% of KPMG’s workforce, would be notified this afternoon that they no longer have a job with the firm. In a […]

CliftonLarsonAllen’s Leadership Pays Up

We heard some good news late on Friday for those serving the capital markets at CliftonLarsonAllen. From the tipline: Lost wages are planned to be paid back to all employees therefore making all employees whole for 2020. This will happen as of Oct. 19, our tipster added. It’s been an interesting six months for CLA […]

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Layoff Watch ’20: Apparently It’s Doomsday for Some at EY (UPDATE)

[Updated on Sept. 23 with additional information.] EY management stuck to their narrative today that the recent layoffs at the firm aren’t layoffs but performance-based separations that were justified, even though many of those who have contacted us after losing their jobs said they weren’t on any type of performance improvement plan. First, before EY […]

Marcum CEO Wants to See Those Cube Farms Filled on Oct. 1 (UPDATE)

[Updated on Sept. 23 with additional information.] Thanks to two sources, here’s the email Marcum CEO, Chairman, and Going Concern bestie Jeffrey Weiner sent to employees on Sept. 14 about expectations for returning to the office: Stay-at-home orders were put into effect in March as a response to the COVID-19 pandemic. Most businesses and schools […]

EY Employees Don’t Have to Work with Pants On Until January 2021 at the Earliest

We meant to post this a few weeks ago, but with the layoffs, angry letters about the layoffs, FY 2020 global revenues, and new partner promotions at EY taking up a lot of our time of late, this got put on the back burner. Thanks to a source, here is the return-to-the-office update from Jay […]

Layoff Watch ’20: EY Canada Job Cuts Are Underway (UPDATE)

[Updated on Sept. 15 with additional information.] While EY in the U.S. is continuing to tell people in its tax, risk, and assurance practices that their services are no longer needed, we’ve been told that a second round of layoffs has begun in Canada, particularly in Ontario. A source said: Another round of firings has […]

Deloitte’s 3.9% Increase In FY 2020 Global Revenue Is the Smallest Growth In About 5 Years

After perusing Deloitte’s FY 2020 global revenue announcement and impact report today, I thought I’d highlight some of the good news and some of the bad news over the past 12 months for D-towners everywhere. First, the good: For the fifth consecutive year, Deloitte has won the Big 4 revenue dick-measuring contest by reporting $47.6 […]

EY Won’t Let a Mere 2.3% Increase In FY 2020 Global Revenue Ruin Its Thursday

The second contestant in the Big 4 global revenue pissing match came out with its FY 2020 financial results today, and EY continued to exert its dominance of third place. The Black and Yellow announced global revenue of $37.2 billion for the fiscal year that ended June 30, a 2.3% increase in U.S. currency terms […]

It Seems Andersen Employees Are Getting Back the Money That Was Taken Away From Them (UPDATE)

[Updated on Sept. 10 with additional information.] Here’s the latest from the House of Vorsatz: Andersen employees—from director level on down—have now been reimbursed for all salary lost due to Rona-related pay cuts through Aug. 21, according to a tip we received this week. However, the pay cuts are still in effect for the time […]

BDO USA Reports $1.8 Billion in FY 2020 Revenue, Wants Everyone to Know It Is the Most Resilient Firm Ever

The Little Dipper of accounting firms, BDO USA, announced today that its FY 2020 revenue increased 11.3% (I calculated 9.8%, but whatever) to $1.8 billion, up from $1.64 billion last fiscal year. That all looks great on paper, especially during this year of our COVID Lord 2020, but like RSM US, which also reported a […]

Number of the Day: £44 Million

That is how much the Big 4 firms have been paid to advise the U.K. government on its response to the coronavirus pandemic, according to the Financial Times. In comparison, the three biggest consulting firms—McKinsey, Bain, and Boston Consulting Group—were awarded contracts worth £9.5 million. According to FT: A total of 106 contracts worth £109m […]

Pandemic Pay Cuts Didn’t Sit Well with One Deloitte Employee In Australia

Yesterday Adrienne wrote an excellent post about winners and losers in accounting during the coronavirus pandemic. I’ve got one to add to the losers side: Deloitte Australia employees. Why? Not only have most Australian Green Dotters taken a 20% cut in pay since May (which CEO Richard Deutsch said was “the least worst option” to […]

RSM US FY 2020 Revenue Results: $2.7 Billion and 4 Guardrails

The 2020 RSM US annual report is out, and boy is it a real page-turner. But I found what I was looking for in the “Our Perspective” portion of the report: RSM’s FY 2020 revenue. If you’ve perused INSIDE Public Accounting’s latest ranking of the top 100 public accounting firms in the U.S. based on […]

The Rona Postpones Big 4 CEOs’ Swiss Alps Vacation In 2021

Aw, no trip to Davos for BoMo, T-Ry, Carmen, Kelly, Punit, Joe U., and Paulie this January. Here are the first three graphs of the media release we received this morning from Adrian Monck, managing director of public engagement for the World Economic Forum: I would like to share with you the news that the […]

Thanks to the Rona, PwC’s Global Revenue Only Went Up a Measly 1.4% in FY 2020

Big 4 revenue gloating season kicked off today with PwC being first out of the gate. In a normal year, EY is typically first bragging about its third-place global revenue, then Deloitte, P. Dubs, and KPMG. But 2020 has been anything but normal, and that is reflected in PwC’s results for the most recent financial […]

Hiring Tracker: These Accounting Jobs Need to Be Filled Right Damn Now

As of September 30, 2020, we will no longer be updating or adding to the Going Concern Hiring Tracker. We expect to launch a replacement hiring feature later this fall. In the meantime, if your accounting practice needs assistance with hiring, click here to contact Accountingfly. Welcome to Going Concern’s Hiring Tracker, which we hope […]

BDO USA Staff Are Back to Getting Their Pre-Rona Paychecks

It feels like it’s been four years, not four months, since BDO USA told employees their paychecks would be a little bit lighter for a while as the firm began to navigate the rough waters caused by everyone’s favorite pandemic. But that 5% to 10% pay cut BDO staff had to endure from May 1 […]

Number of the Day: $9.14 Billion

That is the combined FY 2020 revenues for the Big 4 firms in Australia, an increase of 6.2% over FY 2019. According to reports from the Australian Financial Review, here’s how each firm fared this past fiscal year: 1. PwC ($2.6 billion) PwC’s revenues didn’t budge much at all in FY 2020, as its results […]

Layoff Watch ’20: Hearing EY Mexico Is Cutting People and Pay (UPDATE)

[Updated on Aug. 10 with additional information.] We heard from another EY employee in Mexico who told us over the weekend that the situation at the firm is “worse than you may imagine.” This person said that the leadership at EY Mexico has allegedly given employees an ultimatum: accept a 15% pay cut by this […]

How’s Your Remote Plan Going? What Worked and What Didn’t? It’s Time to Move Forward

Hey there, denizens of Going Concern. If you are a managing partner or lead an HR department, please take the 2020 Anytime, Anywhere Work (ATAWW) Survey hosted by ConvergenceCoaching LLC. This survey will be used to identify trends on how accounting and consulting firms are handling the ongoing shift, as well as the overnight transition, to […]

Layoff Watch ’20: PwC to Sever Ties with 5% of Its Workforce In Australia (UPDATE) PwC Limits Job Cuts to About 3%

[Updated on Aug. 3 with additional information.] PwC Australia CEO Tom Seymour said layoffs last month weren’t as large as anticipated—the firm let go of 250 PwCers instead of the 400 employees who had initially been targeted for involuntary departure by redeploying dozens of staff, according to the Australian Financial Review on Aug. 3: Mr […]

Miserable and Burned Out? It Might Be the Zoom Meetings

In the early days of the Rona pandemic just as most of you were starting to adjust to that work-from-home life (much to the chagrin of some of your employers that feel it’s not really working if you’re not chained to a desk where they can observe you), I shared a pic of my own […]

Moss Adams Is Giving Employees Back the Pay They Lost During the Pandemic

The last time we wrote about the latest happenings at Moss Adams, which was June 26, the firm was laying off 103 of the 370 employees who had been furloughed for 90 days starting in April. But we have some good news to share today from MA. In a message to employees on Thursday, CEO […]

Layoff Watch ’20: Grant Thornton Is the Latest Firm to Trim Some Staff

Happy Friday, everyone! Hopefully you all made it through this week unscathed and still have your job. Unfortunately for some employees of Grant Thornton, they can’t say the same. We received this tip a little bit ago: Looks like GT will be cutting some advisory people and furloughing new hires and cutting some executive assistants. […]

Apparently Becoming a CPA In Canada Can Literally Kill You

It’s nothing rare for accounting students and aspiring CPAs alike to say “these exams are killing me,” but I’ve got to say this is the first time I’ve seen a legal document stating in no uncertain terms that the exam can in fact kill you. What a wild timeline we live in. Let’s check in […]

Layoff Watch ’20: Dixon Hughes Goodman Is Letting Go of 125 Mostly Furloughed Employees (UPDATE)

[Updated on July 23 with additional information.] Another day, another round of layoffs at a top accounting firm in the U.S. This time it’s No. 17 in your scorecard, Dixon Hughes Goodman, which announced on Wednesday that it’s letting go of 125 employees, nearly all of whom were furloughed by the firm on May 1, […]

Layoff Watch ’20: What In the World Is Happening at Deloitte Canada? (UPDATE)

[Updated on July 23 with additional information.] We heard from two sources on July 22 that more layoffs had occurred at Deloitte Canada, this time affecting nearly 200 people in non-client-facing roles. One source told us: 179 internal services staff laid off at Deloitte Canada today [July 22]. 188 redeployed from internal to external client […]

Pay Cut Watch ’20: KPMG New Zealand Ends Employees’ ‘Salary Sacrifice’ Early

Kiwi Klynveldians recently got some good news: Accounting firm KPMG has ended its Covid-19 salary sacrifice two months early, citing a better workflow than expected. In April, BusinessDesk revealed KPMG had asked staff to take a 15 per cent pay cut, calling it a “salary sacrifice”, because it didn’t qualify for the government wage subsidy. […]

Layoff Watch ’20: KPMG U.K. Is Cutting About 100 People Loose In Consulting

Sky News reported some unfortunate news today, as the Queen’s KPMG has reportedly told about 200 employees, including nearly a hundred in consulting, that their services are no longer needed: Sky News has learnt that the big four accountancy firm has decided to axe just under 200 jobs across its UK workforce, the latest sign […]

FYI: Effective August 1, Prometric Will Start Charging to Reschedule Your CPA Exam Date (Again)

Prometric announced recently it is bringing back the rescheduling fee, which was waived earlier in the year due to that little coronavirus thing. The change is effective as of August 1, 2020. They explained the reasoning for the change in an email to candidates: In response to the large-scale closure of the Prometric test center […]

Comp Watch ’20: EYers Who Are Not Getting a Promotion Probably Are Not Happy Right Now

This delicious-looking sundae is the promotion bonus at EY in 2020. An EY all-hands webcast was held earlier this afternoon, and a lot of topics were apparently discussed, including raises … or a lack thereof, according to a source: No raises this year. Only those getting promoted will get the promotion portion of the raises. […]

Layoff Watch ’20: PwCer Claims Performance Ratings Are Purposely Being Bumped Down to Make Separation Decisions Easier During the Pandemic (UPDATE)

[Updated on July 17 with additional comments.] Two people who currently work at PwC in management roles have chimed in on this topic: one who is siding with the firm and the other who is siding with those folks who have recently lost their jobs. The first is a partner who emphatically says what these […]

Layoff Watch ’20: PwC Canada Confirms It Is Handing Out Pink Slips (UPDATE)

[Updated on July 16 with additional information.] Ugh, here we go again. Another big Canadian firm is cutting employees during the pandemic, and the latest victims are from PwC. We got this tip around lunchtime on July 15: Lay offs have started in a few offices in PwC Canada, including me. I’m only aware of […]

Layoff Watch ’20: BDO USA Waved Goodbye to Some Folks In Advisory

This came in through the tipline about an hour or so ago: BDO Advisory US had a RIF yesterday… about 3% of workforce… low performers but also told it was due to economic conditions… guess the comp reduction didn’t “keep our family together.” So the email I got yesterday from a person saying (s)he was […]

Newly Promoted RSM US Employee Ponders Life and COVID-19’s Impact on Future Earnings

RSM US isn’t making it rain much these days for those receiving a promotion. Compensation discussions are underway at RSM US, and if you remember, only those getting a promotion at the House of Adams are receiving raises—which were capped at 5% this year as the firm muddles its way through the COVID-19 crisis. Looking […]

KPMG Employees Won’t Be Returning to the Office Anytime Soon

By the time KPMGers in the U.S. are finally allowed to leave their home offices to get reacquainted with their cubicles, fashion rules stipulate they won’t be able to wear white to work. The new KPMG leadership team sent a message to employees on July 13 that maybe they’ll be able to return to their […]

California Board of Accountancy Has Caught Everyone Up on the Whole Application Delay Situation

Since the very beginning of the COVID-19 pandemic, we’ve heard and read complaints from CPA exam candidates that the benevolent overlords of CPA licensure have failed to properly communicate ever-changing procedures, plans, and timelines. Now, although candidates’ position on the matter is understandable, what with the CPA exam being one of the hardest things they’ll […]

Layoff Watch ’20: Rumor Has It That PwC Brazil Let Go of 600 Employees

[Updated on July 11 with additional information/comments.] A tipster brought to our attention this morning that several people on his LinkedIn feed who worked at PwC in Brazil no longer work at PwC in Brazil as of July 9. Here are a few of the posts, translated from Portuguese to English: And today my journey […]

Here Are the Accounting Firms That Received PPP Loans Because We Know You Want to Know

As you may have seen by now, the U.S. government has recently released data on which companies received PPP funds, and anyone with more than $150,000 from Uncle Sam in their pocket had some ’splainin to do had they also laid off staff en masse. We figured a few accounting firms would be on the […]

Layoff Watch ’20: At Least One BDO Canada Office Is Downsizing Its Headcount

[Updated on July 10 with additional information.] Unfortunately we are hearing more news of Canadian accounting professionals losing their jobs. Although we haven’t been able to confirm yet if there have been firm-wide job cuts at BDO Canada, we were told by a source at BDO in Vancouver on July 9 that several people at […]

Layoff Watch ’20: RSM Is Apparently Lightening Its Load In Canada

Hearing word today that RSM Canada has started handing out pink slips, and the culprit seems to be lower-than-expected revenues due to a downturn in business caused by the COVID-19 pandemic. According to a source, a practice leader sent out this email to staff on Tuesday: Although as a firm we remain in a strong […]

Attention Accounting Students, the AICPA Is Giving Away Money Because COVID-19 Was Such a PITA

At this point, all of us have been affected by the Rona in one way or another (or many as the case may be), and I don’t need to waste precious word count rambling on about it. For some, the hit has been mostly a financial one, as we’ve seen week after week in the form of […]

Deloitte Australia Has This Corporate Bullying Thing Down Pat

“It’s using COVID as a lever to change their working conditions. They have no choice — if they say no to the pay cut, they may lose their job, if they say yes, they might lose their job anyway. “Most would have accepted a pay cut because they thought it would save jobs. “In their […]

Comp Watch ’20: BDO USA Is Restoring Everyone’s Pay—But Promotions and Raises Will Have to Wait

Hope everyone had a good weekend celebrating the ol’ red, white, and blue. Speaking of red, white, and blue, the firm that sports these colors, BDO USA, is ending pay cuts effective Aug. 1, according to sources. You gotta hand it to BDO thus far. The firm cut employee pay 5% to 10% in early […]

EY’s Care Kit for Employees Does Not Include Pancake or Waffle Mix

But the care kit EYers received for their eventual return to the office does include reusable cloth masks, hand sanitizer, and a forehead thermometer (not pictured below). The source who sent us the photo, whose spouse works for EY, called the care kit “a legit, nice, late gesture from Uncle Ernie” and added that the […]

Layoff Watch ’20: EY Is Cutting Ties with Nearly 100 Employees In Israel

Today is New Year’s Eve Eve in the Ernstiverse, and with the 2021 fiscal year starting on Wednesday—and with COVID-19 not going away anytime soon—we’ve been told that quite a few EYers in the U.S. will be shown the door soon. Rumors have been swirling for a while now—from 300 of the 3,600 (8.3%) U.S. […]

Layoff Watch ’20: Many Furloughed Moss Adams Employees Are Not Getting Their Jobs Back

[Updated on June 26 with additional information.] A source at Moss Adams told me that, according to a video message from CEO Chris Schmidt today, 103 of the 370 furloughed employees were let go on Thursday. [Updated on June 25 with additional comments.] Another sucky day in public accounting during this pandemic. We’ve been told […]

Carr, Riggs & Ingram Is Giving Employees Their Full Pay Back … Soon

Here’s the latest coming out of top 20ish accounting firm Carr, Riggs & Ingram, according to a couple of tips we got on Thursday night. Carr, Riggs & Ingram restoring income partner and staff pay a month early – Aug 31. And … Managing Partner sent out a firm wide email today. They plan to […]

What COVID-19 Tells Us About … SALT

COVID-19 may be the newest exacerbator of high blood pressure in humans, and it is having an effect on another well-known catalyst for stress, SALT. But this is not your old-fashioned table variety we are referring to. In the accounting department at the University of Maryland’s Robert H. Smith School of Business where I teach, […]

Layoff Watch ’20: Deloitte’s Purging Continues, This Time In Australia

Deloitte, which couldn’t help patting itself on the back last week for forecasting a record-breaking $48 billion in global revenue for FY 2020, has just sent hundreds of more employees to the chopping block. First, the firm sent between 300 and 400 Canadian employees packing in May, then more than 5,000 U.S. employees have received […]

Moss Adams Decides Its Employees Have Suffered Enough, Ends Pay Cuts Two Months Early

Some good news out of Seattle, as Moss Adams is ending employee salary cuts earlier than expected—the second top 12 U.S. accounting firm to do so this month. Back on Good Friday, Moss Adams announced some pretty drastic cost-cutting measures because of the COVID-19 pandemic, including: Employee pay cuts ranging from 5% to 20%. 20% […]

Layoff Watch ’20: Grant Thornton U.K. Is Forcing 70 Employees to Take Early Exits

Over the past three months, we’ve chronicled as best we could all the job cuts—which unfortunately have affected several thousands of professionals so far—that have occurred at U.S. public accounting firms during the coronavirus pandemic. Incredibly we haven’t been made aware of or read about any layoffs that have gone down at the biggest accounting […]

Comp Watch ’20: Raises and Bonuses Are Looking a Bit Paltry at RSM US

If we look back at the firms in ’Murica that have sent the most people packing during the COVID-19 pandemic, three immediately come to mind: Deloitte (obviously), Crowe, and RSM US, which had not one but two rounds of job cuts. Those left standing at RSM must be feeling pretty resilient, having somehow dodged two […]

Bonus Watch ’20: PwC Is Kinda, Sorta Going Forth with Bonuses, Raises (UPDATE)

[Updated on June 12 with additional information.] So we were told today by a couple of people that PwC had a webcast for new hires on Thursday, led by Chairman Tim Ryan, U.S. Recruitment Leader Rod Adams, and a couple of other people. Once the spiel about what PwC is doing to address the COVID-19 […]

Layoff Watch ’20: Deloitte Has Begun Handing Out Thousands Of Pink Slips (UPDATE)

[Updated on June 12 with some additional information.] We’ve got some new info to share today, at least from the Deloitte & Touche side of things. A tipster told us the following things were said by D&T CEO Lara Abrash this morning during a call with her audit and assurance peeps: She confirmed what we […]

Does Punit Renjen Not Realize Deloitte U.S. Is Laying Off Thousands of People During a Pandemic?

While I’m sure he had good intentions, the timing of this tweet by Deloitte Global CEO Punit Renjen is a little questionable given that Deloitte U.S. is currently getting rid of roughly 5,000 or so employees and furloughing many more during the COVID-19 crisis. How’s that helping these people thrive during the worst pandemic in […]

Rumor Mill: Grant Thornton Canada Employees Are Still Being Asked to Work Crazy Hard Despite Reduced Hours and Pay

While other big Canadian firms are strongly encouraging their staffs to voluntarily scale back their billable hours and take a reduction in pay (but not in their workloads) for the sake of saving jobs (even though that didn’t work out too well at Deloitte), folks at Grant Thornton aren’t being voluntold to do this, they’re […]

CliftonLarsonAllen Is Giving Employees Shorter Duration of Pay Cuts, Consolation Bluetooth Speakers (UPDATE)

[Updated on June 9 with additional information.] We’ve got an update on what’s happening over at C to the L to the A. About a week or so ago a Redditor posted that CliftonLarsonAllen said it was cutting the duration of employee pay cuts by two months, ending now on Oct. 31 instead of Dec. […]

Rumor Mill: PwC Canada Strongly Encouraging Tax Staff to Work Less So They Don’t Have to Fire You

PwC of the Canadian variety is apparently asking forcing its tax staff to volunteer agree to reduce their work hours with a corresponding reduction in pay to avoid layoffs. Hmmm, how did that work out for Deloitte Canada? Here’s a tip we got over the weekend: PwC Canada Tax announced this week: All staff can […]

Despite Working More Hours, Professionals Say They Hope WFH Stays Post-Coronavirus

Today we have two surveys from our friends at Fishbowl to share with you, conveniently enough they have a bit of overlap so we figured why not just make a big ole survey sandwich. First off, Fishbowl surveyed more than 16,000 professionals across a variety of industries, including accounting, and asked a simple question: Are […]

Deloitte Sued By Unemployed Ohioans Who Are Unhappy Their SSNs and Addresses Were Visible For All to See

Welp, that didn’t take long: Deloitte Consulting LLP was hit with two suits by people who claim their personal information was exposed on state websites the firm built to administer supplemental coronavirus unemployment benefits. A group of Ohio residents sued Deloitte late Thursday in Manhattan federal court, after officials in that state, Illinois and Colorado disclosed […]

Summer Internship Roundup 2020: Everyone’s Gone Virtual

[Updated on May 25 with additional information about BDO USA.] For every 20 to 25 tips we receive about layoffs and pay cuts at public accounting firms during the COVID-19 pandemic, we get one about some firm’s virtual extravaganza being offered to summer interns this year. Yep, virtual. None of that worthwhile public accounting experience, […]

Deloitte Is Giving Unemployed Gig Workers In Some States Something Extra to Worry About

Imagine being an out-of-work independent contractor living in Ohio during this pandemic, anxious and unsure of when you’re actually going to get some financial assistance from the state because Ohio’s unemployment systems are being blown up with regular unemployment claims. Finally you get word that you can now file for unemployment benefits through the new […]

Friendly Reminder: Expect Continued Difficulties Scheduling CPA Exams

At this point, we all know CPAs were determined to be “essential” and therefore allowed to resume CPA exam testing when Prometric re-opened on a limited basis May 1. And we all know that some testing centers are open only for specific med-based testing, meaning future healthcare workers are given priority over other “essential” testing. […]

What Tim Ryan Learned About PwC During the Pandemic Also Applies to Roofers

“I think what we’ve learned is that it’s always better to control your destiny when you can. And I want to be clear, we made a zillion mistakes. I don’t want to come across as we batted a thousand, because we didn’t. But I think what we’ve learned is that it’s always better to control […]

Furlough Watch ’20: Apparently RSM US Is Putting Many Of Its Recruiters On Ice, Conducted Second Round of Job Cuts

[Updated on May 20 with additional information.] Nearly a month after RSM US told a slew of underperformers that their services were no longer wanted, we got word on Monday afternoon that furloughs and job cuts have started to hit the firm’s recruiting staff. A source told us: As of right now, it is most […]

‘Reality Star’ Charged With Fraud Says the Government Totes Didn’t Make It Clear That PPP Loans Weren’t Meant for Cars and Jewelry

A mere two weeks ago we saw the first of what promises to be many, many PPP loan fraud charges when a pair of fine, upstanding gents from Rhode Island were nabbed by the Department of Justice. David A. Staveley, aka Kurt D. Sanborn, 52, of Andover, MA, and David Butziger, 51, of Warwick, RI, […]

A Surprising Number of Professionals Are Going Pantsless on Video Conference Calls

It’s been a little more than two months since the world came to an abrupt stop and most of us got locked inside. While some people have been enjoying having the permission to day drink and binge Netflix on weekdays, others have been feeling cagey for some time now (*raises hand*). Still others aren’t even […]

EY Netherlands to Partners: Umm, Please Give Us Some Capital

EY Netherlands partners are answering the call to help pad the Dutch firm’s coffers because business kinda sucks right now due to the Rona pandemic. Bloomberg reported earlier this week: EY’s Dutch unit is asking its partners in the Netherlands to stump up funding to help it confront the blow to its business from Covid-19 […]

State Boards of Accountancy Are Slowly But Surely Starting to Grant 18-Month CPA Exam Extensions

The current situation with CPA exam testing is difficult, you don’t need me to tell you that. In the 13 years I’ve been working in this industry I’ve never seen anything like it, and it goes without saying that it’s a fluid situation. That said, it’s excellent to see CPAs recognized as “essential” in the […]

Please Don’t Call Deloitte If Your House Is On Fire

“Hiring Deloitte [to manage PPE procurement] was a funny thing to do. If there is a fire, you don’t call the auditor, you call the fire service.” — said an anonymous clothing manufacturer based in northern England, who said Deloitte has ignored his company’s offers to make medical gowns for healthcare workers on the front […]

What Are You Guys Drinking While Working From Home?

I don’t know why y’all are so eager to get back to the office because isn’t it better to be drinking a gin and tonic, sipping whiskey, or downing your favorite IPA while staring blankly at a spreadsheet at home than doing so while having a cup of coffee, Ice Mountain bottled water, or Red […]

Pay Cut Watch ’20: Marks Paneth Partners Bearing the Brunt of the Burden

Let’s hear it for the partners at Marks Paneth, who we were told are taking it on the chin so there won’t be any pandemic-related staff layoffs at the top 40 accounting firm. Apparently Managing Partner Harry Moehringer recently summarized for staff some of the pruning of costs that the firm is undertaking. According to […]

Here’s Where You Can Check If Your CPA Exam Testing Center Is Open

Though Prometric re-opened for a handful of “essential” tests on May 1, testing centers across the country remain closed due to local restrictions on movement and other factors. It is expected that more test centers will be up and running by May 31, contingent again on local conditions and subject to Prometric’s discretion. Not sure […]

It’ll Be a While Before PwC Offices Are Back to Full Capacity, Obviously

CODE-E can’t wait to see everyone’s smiling faces again. From the Boston Globe on May 6: Many [Greater Boston area] employers are also thinking about phased approaches, for their own workforces. Take what’s happening at PwC’s Seaport office, where more than 3,000 people worked before COVID-19 arrived. John Farina, PwC’s Northeast managing partner, is planning […]

Layoff Watch ’20: What’s This About Grant Thornton ‘Optimizing’ Some People?

We were told the other day that Grant Thornton recently got rid of some GTers who were not meeting their utilization goals. ’Tis the season for cutting loose low performers, regardless of a deadly pandemic and a shitty economy. Here’s the tip we got: They’re “optimizing” people at GT US in certain departments. Digital transformation […]

EY Announces a Three-Phase Plan For Staff to Return to the Office Once This Corona Thing Settles Down

In a firm-wide all-hands call yesterday, EY revealed its plan to return to some semblance of normal work at the same time state governments are considering lifting lockdown restrictions and allowing some non-essential businesses to reopen. Get excited, people, there is in fact a light at the end of this tunnel, dim as it may […]

Pay Cut Watch ’20: Here’s What We Know About the Salary Reductions and Other Stuff at CohnReznick

Just the other day Adrienne and I were chatting on Slack about which public accounting firms among the top 15 or so in the U.S. have we not heard a peep about in regards to job cuts, pay cuts, or furloughs. One firm brought up was Plante Moran. The other was CohnReznick. Interesting timing because […]

Layoff Watch ’20: Is There Trouble Brewing at EY Canada?

Things are starting to look a little ominous at EY in Canada, as we were told the specter of layoffs looms if EYers don’t volunteer to cut their billable hours. According to a tip we received on April 30: Had a call today at EY Canada (Ontario). Partners are saying that unless people start taking […]

Are You Hiring Accountants During the Pandemic? We Want to Know

Ugh, it seems like every day we’re writing about some new round of layoffs, pay cuts, or furloughs in public accounting. It’s pretty depressing. So now’s the time to focus on something good—and help out accountants who recently lost their jobs during the COVID-19 crisis. By now you’ve probably seen the tracker on our home […]

NASBA Is Actively Working With State Boards to Extend 18-Month Windows So Please Chill

This afternoon I sat in on a Becker webcast with peeps from NASBA, the AICPA Examinations Team, and Prometric so I can bring you the following information to report back. It’s important for those of you freaking out I hope. I’ve seen a lot of CPA exam candidates blowing NASBA up on Twitter demanding they […]

Layoff Watch ’20: Apparently Some Grant Thornton Canada Employees Had to Give Up Their Purple Roses

We got word recently that the Purple Rose of Chicago Toronto has shown some people the door at a few offices in Grant Thornton’s Southern Ontario Business Unit. Here’s what a source told us: 1. Layoffs occurred on March 30th and April 14th. Appears select few senior leaders in GT are short term layoff decisions […]

Apparently No One Knows What the F*ck Is Going On at Prometric

Most if not all current CPA exam candidates know this but for the rest of you playing along at home, allow me to catch you up on the situation. So, when the Rona panic first started in March, Prometric shuttered every location across this great nation of ours (along with others, but cuz ‘Murica, we’re […]

Pay Cut Watch ’20: Cherry Bekaert Is Slashing Salaries Between 5% and 15%

[Updated with additional information.] Cherry Bekaert is the latest midtier public accounting firm to tighten its belt during these crazy and uncertain economic times caused by the coronavirus pandemic. We were told that Managing Partner and CEO Michelle Thompson outlined staff pay cuts in an email this morning. The pay cuts will last through July. […]

Layoff Watch ’20: Did This Top 50 Accounting Firm Tell a Bunch of People Their Services Were No Longer Needed?

You might be wondering why I used a photo of Leo to go with an article about an accounting firm that has possibly joined the layoff club. Well he’s the only clue I could think of to give to see if anyone could help us confirm a tip we received about some people at this […]

Layoff Watch ’20: Job Cuts Have Begun at Wipfli, Staff Pay Cuts Are ‘Last Resort’

Unfortunately here’s another top 20 accounting firm that we’ll be adding to our tracker of layoffs and pay cuts in public accounting during the coronavirus pandemic. Wipfli Managing Partner Kurt Gresens announced earlier today that the firm is cutting staff headcount by 5%, according to two sources. One source told us: Some have already been […]

(CONFIRMED) Layoff Watch ’20: Is One the Loneliest Number At This Top 15 Accounting Firm?

[Updated with additional information about job cuts at BKD CPAs & Advisors.] So since we posted this article on Thursday afternoon, we’ve received a lot of information about what’s been happening at BKD CPAs & Advisors, the 13th largest U.S. accounting firm in INSIDE Public Accounting’s 2019 ranking. Yes, some people have been let go, […]

[UPDATED] Prometric Extends Site Closures For a Third Time, But There’s a Bright Side For Future CPAs

Ed. note: Updated with 4/23/2020 NASBA statement below So I have a little news on Prometric closures to share with you all, thanks to a tipster who obsessively refreshes the Prometric COVID-19 page each morning in hopes of an update. As we reported on April 15, Prometric announced just days before their planned April 16 […]

Layoff Watch ’20: EisnerAmper Gave 44 People Some Bad News Today

[Updated with additional information.] We just got word that during a presentation this morning, EisnerAmper CEO Charles Weinstein announced that there have been layoffs at the top 20 accounting firm, according to two sources. According to one source, 44 employees were laid off today and those people did receive a severance package (unknown terms) and […]

Furlough Watch ’20: RubinBrown Is Giving Some Folks a 90-Day Unpaid Vacation

St. Louis-based RubinBrown, the firm occupying the No. 43 spot in INSIDE Public Accounting’s 2019 ranking and the No. 41 spot in the 2021 Vault Accounting 50, will be furloughing 51 people this week for 90 days, according to a source. We were told that the firm’s chairman, John Herber Jr., made the announcement in […]

(CONFIRMED) Layoff Watch ’20: Did This Top 35 Accounting Firm Just Lay Off a Bunch of People Too?

[Updated with additional information about the layoffs at Weaver.] The other night while I was trying to get some more information about the layoffs at Crowe and Baker Tilly, we got a tip saying that another top accounting firm had just laid off 60 employees. I hadn’t seen these layoffs discussed on Reddit or Fishbowl, […]

Deloitte Australia COO Begs Partners to Stay Billable

“Please, please, please partners. Bill now. We need another billing month like March if we are to continue [the upward cashflow trend].” — Andrew Griffiths, chief operating officer of Deloitte Australia, during a Zoom meeting with partners on April 15. The firm’s overall utilization rate dropped from about 71% in the last week of March […]

Layoff Watch ’20: How Bad Were the Job Cuts at Crowe and Baker Tilly?

[Updated with additional information.] In the past 48 hours, we’ve learned that hundreds of people were laid off at Crowe this week and many others were let go at Baker Tilly. Here’s what we’ve been able to piece together about the layoffs at both firms based on tips that have come in to GC: Crowe […]