The Most-Fined Big 4 Firm in the UK is Raising Audit Fees, Knows Clients Will Complain About It
Bloomberg reported today that KPMG UK CEO Jon Holt told them the firm plans to raise audit fees, news that comes on the same day we find out KPMG UK revenue increased 12% to £2.72 billion ($3.3 billion) for their fiscal year ending in September. Much of that did not come from audit however, deal […]
Big Clients Bitch to Big 4 Firms About Audit Fees, Get Pissy About Partner Pay
Across the pond, audit fees are up (22% in four years) and apparently the companies paying these fees are unhappy about it. Financial Times has seen a letter written from CFOs at FTSE 100 companies in the UK to their Big 4 auditors that says “[it is] difficult for us to sit quietly as Big […]
EY Is Leaving $10 Billion in Consulting Fees On the Table If It Doesn’t Split, Says Global Chairman Carmine Di Sibio
In comments to Financial Times, EY Global Chairman and CEO Carmine Di Sibio says splitting consulting and audit “would win its consulting division up to $10bn in extra fees by liberating it from conflicts of interest that block partnerships with the world’s largest tech groups.” Those consulting fees are as yet out of EY’s reach […]
#TaxTwitter Has Absolutely Had It With Clients’ Sh*t
The last time we checked in on #TaxTwitter, they were bravely forging ahead toward October 15 deadlines. While I was combing through Twitter last week looking for tweets to include in Friday Footnotes, I noticed a theme: ragging on clients. It seems many practitioners are raising fees these days, and who can blame them? I […]