AICPA Would Like FASB, PCC to Keep Their Heads Up, Get Back to Work
AICPA President, CEO and former Mr. Universe Barry Melancon, CPA, CGMA wrote a letter to the Financial Accounting Foundation recently to provide feedback on the FAF's review of the Private Company Council. This in and of itself, is not all that interesting, although you get the distinct impression that AICPA relishes in the opportunity to […]
Take the Going Concern Annual Reader Survey to Save the Children*
It's that time of year again when the publishing overlords who run this laugh factory would like to know a little more about you, the Going Concern readers. It also gives you a chance to tell us what you think about this here web site and the Lord's work that we're doing. Go here to […]
This Is a Friendly Reminder to Take the Going Concern Jobs Survey and Enter for a Chance to Win an iPad Mini
Hey, everyone. Colin here. Mind if I pull you away from your spreadsheets for a bit? No, you don't mind. Last Friday we announced that Going Concern Jobs would be gracing the Internet with its presence in the very near future. Of course, before we jump into anything we like to check with you all […]
Another List of the Best Accounting Firms to Work For, And Another Reason to Hate These Lists
If you hate your job, it's clearly because you don't work for one of Accounting Today's "100 Best Firms to Work For." Every year they come out with this list, and every year it bugs the hell out of me. I don't totally get the methodology of determining and ranking the list, mostly because I […]
Here Are the Going Concern Freelancer Finalists
After a grueling first round, we've narrowed the field down to three. We took a lot of your feedback into account, so don't say we never listen to you. Here are your three finalists, in no particular order, along with links to their first round submissions just in case you are just joining us or […]
I See What You Did There: The Latest Changes on Going Concern
Well, if it isn't another mopey March Monday in busy season. If your life has been feeling especially drab lately, maybe you can take the time to appreciate some subtle changes that we've made around we rolled out on Friday. Last time we tried this, there were a lot of comments and we took some […]
Occupy the SEC Sends a 325 Page Comment Letter On the Volcker Rule
Ah, the Volcker Rule… an allegedly sublime piece of legislation that keeps the Goldman rats from doing things like betting against clients and raking in an extra million a day. Love it or hate it, you have to admit it's a step in the right direction if you're at all familiar with its intent. Of […]
Your Thoughts on the New Going Concern
So now that we've opened the kimono, TPTB are pretty anxious to know what you think of all the changes. As you know, we fired a warning shot yesterday to help lessen the blow but we know how sensitive you all can be. But we're big boys and girls over here so we want to […]
Partner Criticizes Subordinate for Dressing Like Peasant, Eating Like a Wild Beast
For the most part, performance reviews are a fairly disappointing affair. You walk in, prepared to explain why you’re such a badass CPA only to be informed that you’re pretty average. It’s nothing personal, it’s just that your auditing/tax/advisory skills could use some improvement and there are many, many other people that deserve more money than you. For whatever reason, occasionally a performance counselor will take the opportunity in the review process to get a little personal. Feedback like, “Personal hygiene needs work,” or “Dresses like a slob,” or “Sucks as a human being,” is hardly constructive but has been known to happen. This morning we have yet another example of someone getting a little nasty.
Here’s our recipient/tipster:
I have gotten some interesting evaluations by the Partner in my office over the last couple of years. I would be curious to know if other public accountants get the same amount of candid feedback that my partner is willing to provide. Here is a sample of what I received on a recent evaluation:
“I have also commented to ___ on his professional dress. It appears he was compliant with firm policy regarding attire without collars, but I must admit that the overall choice was on the very low scale of professional dress. I believe ___ has taken action to correct this matter and I encourage him to “dress for success.” I also encourage ___ to place greater emphasis on proper table manners. In particular, not eating french fries with your hands while with a client at a nice restaurant.
Our tipster explains that his dress “was a nice, crew neck sweater with brown slacks, [the partner] was pissed off that there was no collar. I sent him an email with the firm dress policy to prove that it was within the guidelines.”
But really, our reader admits, “the french fry comment is the best. The restaurant was middle-tier at best.”
As our reader said, he’s looking for similar stories, so if you’ve been admonished for rocking a turtleneck or ignoring your knife and fork, share your stories below. And then you should feel shame. SHAME.
Here’s PwC’s New Comp Structure in Its Entirety (And Thoughts on Salary Multiple)
Last Friday we broke the news of the “exciting changes” to PwC’s new compensation structure. We now have obtained the document in its entirety (on Page 2 of this post) for those interested in perusing and any P. Dubbers who are unable to navigate their own email or internal websites.
The news has generated a healthy discussion with mixed reviews so far but one reader wanted to focus on the salary multiple specifically
Caleb – I think something that has been glossed over by everyone is the expectations PwC has set around salaries throughout your career. While the attached excerpt [after the jump] shows that the firm wants you to think you will make 2X your starting salary as an average manager and 1.5X your salary as an average senior, it just doesn’t add up.
No one is making that multiple, and most don’t think they will get there when we get raises on July 1. Even the partners in our office said 1.5X for seniors and 2X for managers is an unreasonable salary expectation; they are also a little pissed that BoMo set such absurd expectations. From what I heard about the associate and senior webcast yesterday, a lot of the questions were some form of “why are you a lying piece of shit about compensation?” I haven’t had a chance to listen to the webcast yet, but I assume the answers to the questions were some sort of non-answer.
The firm has had a hard time keeping seniors around, so my best guess is they were trying to get senior expectations up to get them to stick around. I guess they didn’t count on accountants to check those figures and do the math to make sure everything was accurate.
Well, P. Dubs new managers and SAs – do the numbers add up? Tell us in the comments.
Which Big 4 Firm’s New Hires Aren’t Receiving Performance Ratings?
There are clues:
We hope you are settling into your new role and that things are going well!
The purpose of this email is to make you aware of some important information regarding the year end performance management process that applies to all new campus hires and all newly hired associates/administrative assistants for this year.
The firm recognizes that as a recent new hire, your primary focus is to transition into your role and responsibilities and build your network. It is important that you have the appropriate amount of time to learn about the firm and integrate fully before you are formally evaluated on your performance. Therefore, for this performance year, which ends June 30, 2011, you will not be assigned a performance rating.
Even though you will not receive a rating, you will participate fully in all other aspects of the performance process, such as getting feedback from individuals you work with and meeting with your counselor to discuss your feedback, progress, development and goals for the 2012 fiscal year. We are confident that even without a performance rating for this year, you can fully understand how you are doing by asking the right questions and having meaningful conversations with those you work with.
In the meantime, please make sure you are getting periodic feedback and staying in touch with your counselor. As the year end process approaches you can access helpful tools that will help you prepare for a variety of coaching conversations
Further, you can learn more about the Performance Management and Development process by clicking here.
If you would like to discuss this further please contact your counselor or your People Consultant. Thank you for your participation in this important process.
Take a stab in the comments and feel free to speculate as to the motivation and repercussions behind “all (wo)men are rated equal.”
KPMG Silicon Valley Office Dangles “November Jeans Month” To Help Boost Poor Employee Survey Response Rate
Last week John Veihmeyer asked everyone at KPMG to share their thoughts on what the firm does well but also what the firm can do to improve its awesomeness.
Well, apparently some of you in the Silicon Valley office didn’t get the hint. Your pathetic response rate of 23% (as of this writing) has some people worried that you’re not taking this shit serious. In order to get you to spring into action, the office honchos have dangled two carrots in the form of five lucky ducks winning a $200 AMEX gift card but the big opportunity here is the possibility (albeit a longshot) for wearing denim EVERY SINGLE DAY in the month of November.
2010 Employee Work Environment Survey & Jeans Month!
INTERNAL USE ONLY
As you know, the 2010 Employee Work Environment Survey is underway and will run through Monday, October 25.
The Silicon Valley Office currently has a 23% response rate.
If you have not already responded, I encourage you to do so as your feedback helps us to identify our strengths and our weaknesses and provides us with ideas on how we can become an even better place to work and a higher performing organization.
On October 11, you received an e-mail from John Veihmeyer and Henry Keizer with personal login information to access the electronic survey. If you haven’t done so, please review that e-mail and access and complete the survey before October 25.
Please note that all participants’ responses will remain confidential, and will go directly to our external survey provider, Kenexa, for tabulation. Kenexa will not report aggregate scores for departments with less than 10 responses.
Remember that all employees who complete the survey have the opportunity to enter a drawing in which five randomly selected respondents will receive a $200 American Express gift card. The survey site will provide instructions to enter. The winner will be announced after October 25.
Last year, the Silicon Valley office’s survey response rate was 70%. In order to establish a wider range of views and suggestions, I’d like to set a goal of 80% this year. So we are giving you an added incentive to respond to the survey. If the Silicon Valley office receives an 80% response rate, then the month of November will be “Jeans Month” and you can wear jeans to the Silicon Valley Office every day next month.
Thank you for participating, and we will share results with you later this year.
So for those of you that are ruining it for everyone else, do you not recognize what is at stake here? Are you not interested in providing exquisite client service in the cool, comfort of denim for 30 straight days? Do you really want to be standing around the water cooler in khakis explaining to someone that you didn’t complete the survey? If so, we hope you can sleep well.
KPMG Is Getting Hot Over Some of Your Comments on Summer Blast
We don’t need to remind you that there is a long weekend coming up. In fact, some of you may be bolting later today so you could get a jump on a weekend full of bad decisions.
Sensing your anxiety, KPMG wanted to let you know, that contrary to what some people are saying, there are plenty of Klynveldians who are pleased – nay – ecstatic about the KPMG’s Summer Blast.
It’s been suggested to us that “[The] Radio Station engages in masturbation over Summer Blast” which seems about right. The only other thought we had was of John Veihmeyer printing out the most glowing comments and writhing around in them on a conference table (with the Notre Dame fight song playing in the background).
We received the communiqué and have included some of the comments for your own pleasuring purposes:
“I am a long-time employee of KPMG, over 23 years, and have seen a lot of changes occur over that time. I most appreciate the Employer of Choice initiatives that have transformed this firm and made it truly a great place to work. I think it’s the best campaign ever devised by the firm.”
“I’m so happy to see some of what makes KPMG a great place to work is back! It really made my week – made me feel more confident about the future, made me feel like all the hours and hard work are appreciated, and made me even prouder to say that I work for KPMG.”
“Great news to receive on a Monday morning! Thanks so much for the Summer Blast email; I must admit that it has been quite the buzz since the first teaser email was sent. Good to see colleagues hypothesizing about what it could be. Thanks again for the benefits provided through Summer Blast!”
“KPMG ROCKS!!” [Submitted by Tim Flynn]
“I think this is AWESOME that KPMG cares this much about their employees. While other companies are more into ‘what is best for the company,’ OUR firm is saying ‘what is best for our people.’ That goes a long way with me!” [Easy on the caps, Kanye]
“This is such great news! There has been lots of speculation of what Summer Blast would be. The entire package has exceeded our expectations! What an awesome way to start the summer! The staff really appreciate the acknowledgment of our hard work these past few years! Thank you!” [Speaking on behalf of the staff seems presumptuous]
If you don’t see your thoughts here but would like share, fire away.
Some Feedback for PwC
From a source at 300 Mad House:
“I just took the firm wide pulse survey and I laid into them. I told them to stop falsely advertising work life balance.”
Not being intimately familiar the work/life whathaveyous that comes by way of Bobby Mo emails but acutely aware of the motivation techniques employed, we can understand the frustration. Especially judging by some of your reactions to last week’s number. If you feel like sharing your feedback for the year that was at P. Dubs, let it rip.
Employee Satisfaction Survey: GC Edition
In the spirit of what appears to be survey week, we’re honoring requests to do our own survey. Plus we’ve been inspired by some questions that we’ve seen in the comments.
We’ve presented a few questions for you to answer, after the jump. Feel free to add your more appropriate “D” answer to any of them. We also encourage you to keep submitting your questions with multiple choice responses.
Question 1 – I feel that I am recognized for my performance:
A. Too frequently by ass-grabs.
B. Not frequently enough by ass-grabs.
C. I prefer to not be recognized for my performance because I don’t like anyone talking to me and if I have one more conversation with one of these idiots I’m punching that idiot in the face.
Question 2 – Leadership’s communication:
A. Is jamming up my inbox to the point that I can’t locate my porn newsletters.
B. Is helpful when I’m having trouble vomiting.
C. Would be much more tolerable if it was a show tune sung by Hugh Jackman.
Question 3 – I feel that my compensation:
A. Is about as fair as getting kicked in the genitals on a daily basis.
B. Is appropriate if I had not finished high school.
C. Makes my friend, who delivers newspapers, laugh.
PwC Employees Don’t Need AmEx Gift Cards to Motivate Them
That’s right! We’ve confirmed that PwC’s annual employee survey went out Monday and unlike other firms, the rank and file at P. Dubs are more than happy to tell TPTB exactly how they feel without being bribed (but it would be nice).
The Moment You’ve All Been Waiting For
If you work at KPMG anyway. We heard that the annual employee survey was sent out today so that’s exciting. The most thrilling news is that FIVE of you will win $200 AMEX gift cards for participating. If there are questions missing on the survey that are not addressed, feel free to bring those up in the comments.
The only other firm that we’ve heard about having their survey is E&Y so if yours is rolling out be sure to let us know.
Your Firm Has Questions. Answer Them Here
E&Y’s global survey has rolled out and we’ve obtained a list of questions that Ersnters are being asked.
After the jump, we’ve presented a partial list for feedback on your respective firm.
Since the standard “Strongly Agree, Agree, Neutral, Disagree, or Strongly Disagree” format doesn’t tell the whole story (and are pretty boring), we’re asking you to pick your favorite(s) and give your full answer in the comments.
• I have the time I need to deliver quality work.
• People at the Firm are held accountable for their performance.
• If I had a question or concern about the way we conduct business, I would not hesitate seeking advice or reporting my concerns.
• People I work with inspire others to do great things at the Firm.
• I understand the measures used to evaluate my performance.
• I am rewarded appropriately for the work I do.
• I believe my pay and performance are linked.
• I trust the information I receive from leadership.
• Leadership does a good job of explaining the reasons behind major decisions.
• I rarely think about looking for a new job with another company.
Be honest. Please. If you don’t see your favorite, submit it in the comments along your response.