KPMG Still Rocks at Having the Worst PCAOB Inspection Report Among the Big 4
The last of the 2021 Big 4 PCAOB inspection reports belongs to KPMG, which has had the highest audit deficiency rate of the four firms for six out of the previous seven years—the lone exception being 2019. Make that seven out of the last eight: In the 2021 inspection of KPMG LLP, the PCAOB assessed […]
KPMG Pulled In a Kool $34.6 Billion in Global Revenue in FY 2022
Well, well, well, KPMG had a 14% increase in global revenue in its 2022 fiscal year that ended Sept. 30—the second largest year-over-year increase in revenue among the Big 4 firms behind Deloitte’s 18.1%. And of course there’s a press release: KPMG International announces strong annual aggregated revenues for KPMG firms globally of US$35 billion […]
Compensation Watch ’22: Just How Scary Were Raises at KPMG This Year? (UPDATE)
[Updated original post from Oct. 19 with KPMG raise percentages for 2015 and 2013.] As the leaves start changing to PwC colors, it signals the start of compensation season at another Big 4 firm: KPMG. The results of the most recent round of comp talks are in and can be found on r/accounting, per usual. […]
Promotion Watch ’22: KPMG Admits 186 to Partnership
Now that summer has turned to fall and Deloitte, PwC, and EY have all had their comp discussions with employees, released their global revenue numbers for 2022, and deified all of their new partners and principals, it is KPMG SEASON! The firm with a Sept. 30 fiscal year-end has begun comp talks with Klynveldians (we’ll […]
Accountants Behaving Badly: Egg Accountant Finally Cracked, and Lots of Embezzlement
PLUS: KPMG is accused in a lawsuit of “appalling” audit work that allowed a U.S.-listed Chinese biotechnology company to carry out a “brazen” $400 million accounting fraud. Ex-Hillandale Farms accountant admits to $6.8 million embezzlement scheme [Pittsburgh Post-Gazette] Jonathan Weston, the owner of Katie’s Kandy in Pittsburgh, admitted last month in federal court that he […]
KPMG Poaches Someone From PwC and Issues a Press Release, Part XVII
Last month KPMG made a big deal in a press release about how it had added eight partners and managing directors to “advance its Tax Reimagined service offering.” Good for you, KPMG. But what’s somewhat interesting is that the eight new partners and managing directors came from two other Big 4 firms, one of which […]
KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Part IV
It‘s been awhile since we paid attention to people leaving Grant Thornton for KPMG and vice versa, but this news that was made public yesterday is a biggie: well-known Grant Thornton Chief Economist Diane Swonk turned in her purple rose after more than four years with the firm and has joined the House of Klynveld […]
[UPDATED] KPMG Will Pay Audit New Hires to Study for the CPA Exam
Ed. note: update at the bottom, our hopes have been dashed. Second update includes a statement from KPMG As I’m sure you’ve heard by now the profession is having trouble recruiting future CPAs. Accounting student numbers aren’t critically low yet but fewer and fewer graduates are taking the CPA exam, an issue that keeps AICPA […]
The Fortune 100 Best Companies to Work For: KPMG #41 (2022)
Following one spot behind RSM US in the 2022 Fortune BCTWF is KPMG, the second Big 4 firm in the ranking behind Deloitte at No. 24. It’s not too often that KPMG finishes ahead of PwC in anything, so the House of Klynveld should celebrate this accomplishment while it can. For the most part, people […]
Someone Is Not a Fan of KPMG’s New ‘Reconnect with KPMG’ Ad Campaign
As a Fisbhowl user, I received a notification on my phone this evening that “KPMG was tagged in a post,” and this was the post: I had no idea this was a thing. Someone in the comment section said the commercial was on KPMG US’s YouTube channel, so I went there, and sure enough, there […]
If KPMG Was a Radio Station, What Would Its Slogan Be?
One of our favorite nicknames we’ve given KPMG through the years is “The Radio Station,” for obvious reasons. So in this Saturday shitpost, we ask: If KPMG was actually a radio station, what would its tagline or slogan be? We have a handful of suggestions: Good Auditing’s No. 1 Alternative Playing All the Hits (and […]
Better Late Than Never: PCAOB Fines Ex-KPMG Vice Chair of Audit Scott Marcello $100,000 In Connection With Inspection Scandal
It only took five years, but Scott Marcello finally received some sort of punishment for what happened in KPMG’s audit practice several years ago as partners were working with PCAOB insiders to illegally receive advanced notice of the PCAOB’s inspection plans for KPMG audits. Marcello, KPMG’s former vice chair of audit, was fined $100,000 today […]
PwC Poaches Someone From KPMG and Issues a Press Release, Parts X and XI
While the Great Resignation in public accounting hasn’t slowed down much recently, there are still people who are jockeying for a better job in the Big 4 and have left one firm for another. In this case, it’s something we used to write about A LOT back in the day: people bolting KPMG for PwC. […]
KPMG Is Pulling the Plug On Its Operations In Russia and Belarus
A source just sent us this statement from KPMG International that says its member firms in Russia and Belarus will be leaving the KPMG network: “We believe we have a responsibility, along with other global businesses, to respond to the Russian government’s ongoing military attack on Ukraine. As a result, our Russia and Belarus firms […]
One KPMGer Is Livid That She Won’t Be Able to Check Her Personal Email On Her Firm-Issued Laptop Ever Again
These screenshots of an internal KPMG memo hit our tip box earlier today: Because the first part of the document is a little blurry/difficult to read, I’ve transcribed it below: Protecting our IT systems Published: Thursday, 03/03/2022 As the Russia-Ukraine war continues, KPMG is staying vigilant and guarding against cyber threats while continuing to stand […]
Vault 50: Only One Big 4 Firm’s Consulting Arm Made the Top 10 (2022)
Do the colors of the image give it away?
You Won’t Be Seeing Phil Mickelson Wearing a KPMG Hat Ever Again
A relationship we thought would never end came to an end today. At least we won’t feel the need to write “Happy Birthday, Phil Mickelson” posts anymore. KPMG has had Mickelson’s back even when he was accused of being involved in an insider trading scheme, complained about having rich man tax problems, and fell short […]
Bonus Watch ’22: KPMG Generously Gifted 1/5th of a Grubhub Order to Industrious Staff Working Through the Super Bowl
The lion, the witch, and the audacity of this bitch. From Reddit (of course): The screenshot reads: A message from [redacted] and [redacted] | February 9, 2022 On behalf of the NYFS Audit partners and MDs, we would like to thank you for all your efforts and perseverance. This Sunday, in honor of the Super […]
Soooo KPMG Canada Did a Thing Yesterday
If a Big 4 firm adding an undisclosed amount of bitcoin and ethereum to its corporate balance sheet interests you, then you’re in luck because that’s what KPMG Canada did, according to the approximately 1 million articles about it on the interwebs today. We’ll help you mine (see what I did there) through all the […]
Compensation Watch ’22: KPMG Employees Are Getting Richer on April 1 (Not An April Fools’ Joke)
KPMGers got some good news today as the firm announced salary adjustments for all Klynveldians effective April 1. Here’s what was sent to our tipline: KPMG US just announced firmwide mid-year raises effective 4/1. $5k for SM, $7k for manager and senior, $3k for staff. According to an internal document posted on Fishbowl yesterday, here’s […]
Deloitte Just Gave the Malaysian Government Several Wheelbarrows Full of Ringgit (UPDATE: KPMG Pays Up Too)
[Updated article originally posted on June 3, 2021 with additional information about KPMG settlement.] From the Ministry of Finance in Malaysia on June 3: The Government has received a settlement payment of RM336 million (US $80 million) related to 1Malaysia Development Bhd (1MDB) from Deloitte PLT. In a statement today, the Ministry of Finance (MoF) […]
KPMG Got Dibs On Being the Big 4 Firm With the Biggest Year-Over-Year Revenue Increase In FY 2021
The last of the Big 4 firms to release its global revenue results for fiscal year 2021 did so last night, as KPMG posted $32.1 billion, an increase of 10% over its 2020 revenue of $29.2 billion. Things could only get better for the House of Klynveld in 2021, as KPMG was the only Big […]
KPMG Director’s Thoughts On Firm’s ‘Unethical’ Vaccine Policy Will Be Loved By Some and Hated By Others
Once Pfizer, Moderna, and Johnson & Johnson began rolling out their COVID-19 vaccines in the US, unless you had your head in the sand for the past four or five years, you just knew people would take sides on whether or not to get the jab—for whatever reason. And that has certainly been the case. […]
You Know the World Is Getting Back to Normal When KPMG Has the Worst PCAOB Inspection Report of the Big 4
When the PCAOB released its first batch of 2019 inspection reports earlier this year, there was one outcome that left us at Going Concern HQ feeling like we were living in some auditing bizarro world: PwC had a worse audit failure rate (30%) than KPMG (29%). It’s rare when KPMG doesn’t have the worst PCAOB […]
One KPMGer ‘Annoyed’ By New Enhancements to 401(k) Match and Pension Programs
I wanted to make a comment about KPMG’s new 401(k) rules. As a recent US hire, the changes annoyed me in some ways. Here’s why: What the article (“Changes to KPMG’s 401(k) Contribution Policy Seem to Be Getting Positive Reviews”) didn’t mention or what your source material may have left out is that in addition […]
Changes to KPMG’s 401(k) Contribution Policy Seem to Be Getting Positive Reviews
In mid-July 2020, when public accounting CEOs were still looking at ways to slash costs because of the Rona’s impact on their firms, we started receiving tips from KPMGers about their retirement and pension plans taking a hit: KPMG announced this week they are cutting pension and 401k contributions in half for 2020. According to a 2018 […]
Promotion Watch ’21: KPMG US Admits 170 New Partners
The partnership at KPMG grew by 170 people earlier this month, as 120 men and 50 women were outfitted with new golf attire before being handed keys to the club by Chair and CEO Paul Knopp and Deputy Chair and COO Laura Newinski. This latest class of new partners (for FY 2022) is larger than […]
EY Poaches Someone From KPMG and Issues a Press Release, Part III
Finally we have some Big 4-on-Big 4 poaching action here in the good ol’ US of A to write about, even though it involves a lateral move. After an 11-year stay at the House of Mickelson as a principal, Mitch Kenfield has joined EY’s Consulting practice in the same role. He announced his recent departure […]
Here’s What We Know Right Now About the New COVID Vax Requirements at KPMG US
It was only a matter of time before another Big 4 firm would follow Deloitte’s lead in requiring COVID-19 vaccines for employees to enter its facilities. But I gotta admit, I wasn’t expecting that firm to be KPMG. (PwC, to be honest.) Here’s what was posted Tuesday morning on Fishbowl: I texted a source at […]
KPMG Senior Audit Associate Ryan Kiess Among 5 Killed In Car Accident On Long Island
The University of Scranton remembered alum Ryan Kiess (photo above), who got his bachelor’s and master’s degrees in accounting and played lacrosse at the university. Funeral services will be held this week for Ryan Kiess, a 25-year-old senior audit associate at KPMG in New York City who was one of five people killed in a […]
Two of the ‘KPMG 5’ Barred By the SEC Indefinitely For Being Dirty Cheaters
Ex-KPMG partners David Britt and Thomas Whittle were told by the SEC on Wednesday that their accounting privileges were being taken away for a long time because of their involvement in a multiyear scheme with three other KPMGers to steal regulatory information from the PCAOB to cheat on audit inspections. The administrative proceeding orders released […]
KPMG Managing Director Alan White Will Be Laid to Rest on June 3
A memorial service will be held in West Virginia on Thursday morning for KPMG Managing Director James Alan White who passed away in Dallas on Oct. 22, 2020. Internment will follow the memorial service, according to his obituary. White, who would have turned 56 on June 16, was born in Charleston, WV, and was a […]
Old Guy Wearing KPMG Hat Wins At Golf
Congrats to KP(hil)MG’s most beloved and valuable employee for winning his second PGA Championship on Sunday—his sixth major overall—and for becoming the oldest major champion ever at age 50. Phil Mickelson and his blue KPMG hat shot a one-over-par 73 during the final round of the PGA Championship on Sunday, finishing with a two-shot lead […]
RIP James Alan White, Managing Director at KPMG In Dallas (UPDATE)
Ed. note: Two years after Alan White’s remains were found, NBC 5 Dallas-Fort Worth ran a story about his family still seeking answers. As of May 2023, the case remains unsolved. The updated phone number to reach Detective Eric Barnes with any information is 214-671-3480. Just saw on my Twitter feed the sad news that […]
KPMG Can’t Get Out of Class-Action Suit Filed By Miller Energy Investors
A Tennessee federal judge on May 7 greenlighted class certification in a multiyear lawsuit against KPMG by investors of the now-defunct oil and gas company Miller Energy Resources Inc., despite KPMG’s best efforts to get the lawsuit thrown out. According to Law360, U.S. Magistrate Judge Debra C. Poplin had recommended that the Miller Energy investors […]
KPMG Poaches Someone From PwC and Issues a Press Release, Parts XII and XIII
In today’s edition of “Big 4-on-Big 4 Poaching From Around the World,” we have two more examples of PwCers hoping the grass is more greener at KPMG. First, we go to Scotland where Rob Aitken left PwC to become KPMG’s newest transaction services director in Aberdeen. The website Insider.co.uk got some information about KPMG of […]
The Fortune 100 Best Companies to Work For: KPMG #39 (2021)
Following one spot behind PwC at No. 39 in the 2021 F100BCTWF is KPMG. One of the biggest things that happened at the Radio Station during the pandemic was (no, not Phil turning 50) a change in leadership. Lynne Doughtie led the troops for the first few months of the Rona outbreak, trying to convince […]
KPMG Agrees to $10 Million Deal with Female KPMGers In Lengthy Gender Discrimination Case
It took 10 years but an age bias lawsuit first filed against KPMG in 2011 by former senior manager Donna Kassman that now includes eight other plaintiffs and hundreds of other KPMG ladies, a vast majority of whom no longer work for the firm, is finally reaching the end of the road. Law360 reported yesterday: […]
Two Ex-KPMG Auditors Were Told By the SEC to Have a Seat On the Sidelines For a While
Two former KPMG auditors who worked on the ill-fated audit of a not-for-profit college agreed to having their wrists slapped by the SEC for their roles in the school’s collapse: The Securities and Exchange Commission today suspended two former KPMG auditors [Christopher Stanley and Jennifer Stewart] from practicing before the SEC in connection with settled […]
Vault Consulting 50: Deloitte’s Reign Over the Big 4 Has Ended (2021)
For the past five years, Deloitte has cozily sat in fourth place in the Vault Consulting 50, which was tops among the Big 4’s consulting practices and only a few spots behind the usual suspects: Bain, Boston Consulting Group, and McKinsey. But in Vault’s latest ranking of the 50 best consulting firms to work for […]
LOL, PwC: For Once, KPMG Doesn’t Have the Worst Audit Failure Rate Among the Big 4
Because it’s #TriviaTuesday, here are a couple of questions regarding PCAOB inspection reports: When was the last time KPMG did not have the worst audit deficiency rate among the Big 4? When was the last time KPMG had a lower deficiency rate than PwC? The answer to the first question is 2013’s inspection reports, when […]
Ex-KPMG CEO Lynne Doughtie Adds Another Board Seat Notch to Her Belt
Lynne Doughtie has been busy padding the “Corporate Board Experience” portion of her résumé. A little more than a month after joining the Board of Advisors of NovaSignal Corp., the former KPMG CEO joined her first corporate board of directors on Jan. 15 where she’ll have to learn all things jumbo jet. And she’ll be […]
Ex-KPMG Advisory Employee Is Pissed Off By Wave of New Hires Following Mass Layoffs
I was one of the many lucky individuals laid off from KPMG US Advisory last October. I was catching up with one of my former colleagues earlier and learned that at least 10 people have recently been hired to the group that I was let go from, ranging in levels from associate all the way […]
Compensation Watch ’20: Who Is Getting Mid-Year Raises At KPMG?
With all this talk about mid-year raises at PwC starting Jan. 1, $1,500 holiday/mid-year bonuses at Deloitte, and mid-year salary bumps at EY effective Jan. 9, all we’ve heard are crickets on our tipline about what’s going on at KPMG. But I did notice this post on Fishbowl last Friday: In a different post on […]
Oof. KPMG’s 2020 Global Revenue Got All F’d Up By the Rona
I had it all planned out. Knowing that KPMG would likely announce its 2020 global revenue this week, I was going to give KPMG kudos and kongratulations and golf claps for finally hitting the $30 billion mark, which would be an all-time high for the firm. And then troll KPMG a little for being the […]
KPMG Auditors Working From Home During a Pandemic Was a Major Inconvenience For One CEO
From the Wall Street Journal: [Emerson Electric CEO David Farr] had just gotten off the phone with KPMG LLC, Emerson’s auditors since 1938, and he was steaming. The problem: It was June and they were still working from home. “Look. I make s—, and you can’t tell me how I’m making s— when you’re sitting […]
Ex-KPMG CEO Lynne Doughtie Is Following the Post-Big 4 Playbook
This post is ONLY for those of you at KPMG who have been losing sleep thinking about which company board Lynne Doughtie would be joining now that her Big 4 career is over. Here’s the answer: NovaSignal Corp., a medical technology and data company specializing in assessing cerebral blood flow, announced today that Lynne Doughtie […]
KPMG Poaches Someone From PwC and Issues a Press Release, Part X
Not only are there two former EY tax wonks who are part of the latest class of tax partners and managing directors at KPMG but there’s also a PwC refugee. From a KPMG announcement posted by Tax Grotto: Jeremy Jester has rejoined KPMG as a managing director in its SALT practice. He has nearly 15 years […]
KPMG Poaches Someone From EY and Issues a Press Release, Parts IV and V
Back in March (which seems like three years ago) KPMG introduced its latest senior tax hires, which included a couple folks the Radio Station snagged from PwC and a few former EYers. Late last month, KPMG sent out another missive that included its latest round of senior tax hires, two of whom came from EY. […]
Last Indicted Ex-KPMG Partner to Be Sentenced In PCAOB Scandal Won’t Be Going to Prison
Almost three years after being indicted for his involvement in one of the biggest ethics debacles in public accounting history, former KPMG partner Thomas Whittle was sentenced today to two years of supervised release. And that’s all, folks. The six accountants who were charged with fraud and conspiracy by the feds on Jan. 22, 2018, […]
KPMG Managing Director Alan White Reported Missing By Family; Reward Increased to $20,000; Dallas Police Considers White ‘Endangered’ (UPDATE)
[Updated on Dec. 2 with LinkedIn post from KPMG Dallas office managing partner.] No new updates on the whereabouts of KPMG Dallas Managing Director James Alan White, who has been missing since Oct. 22. One thing I haven’t seen in any of the reporting in Dallas and around the country about White’s disappearance is a […]
No Jail Time For Another One of the ‘KPMG 5’ Indicted In PCAOB Scandal
When former KPMG partner Thomas Whittle goes before U.S. District Court Judge J. Paul Oetken to hear his sentencing, scheduled for Dec. 2, he will be the last of the five ex-KPMG executives who were indicted in January 2018 for their roles in a scheme to steal confidential audit inspection information from the PCAOB to […]
KPMG Poaches Someone From PwC and Issues a Press Release, Part IX
Back in August it was announced that KPMG’s head of diversity and inclusion, Michele Meyer-Shipp, would be leaving the firm to join the big leagues. No, not Deloitte, the actual big leagues—Major League Baseball—as its new chief people and culture officer. It took a while but today KPMG announced Meyer-Shipp’s successor, Elena Richards, who left […]
KPMG Poaches Someone From PwC and Issues a Press Release, Part VIII
The KPMG/PwC poaching rivalry is still going strong, but weirdly, it seems like more troops are deserting PwC for a job at KPMG than the other way around. It’s like we’re living in Bizarro World. In our latest edition of “Big 4-on-Big 4 Poaching From Around the World,” one of the newest partners at KPMG […]
KPMG Fined $1.3 Million By the California Board of Accountancy For Lots of Unethical Stuff
[Updated on Nov. 3 with statement from KPMG.] Here’s some more news pertaining to the KPMG/PCAOB cheating scandal that I wasn’t expecting to post about today: KPMG has to pay a $1.3 million fine to the California Board of Accountancy for bending the audit inspection rules a handful of years ago AND for auditors cheating […]
Ex-KPMG Partner Thomas Whittle Is Up Next For Sentencing In PCAOB Scheme
Former KPMG partner Thomas Whittle—one of the five decision-makers at the House of Klynveld who were indicted in January 2018 for making the very poor decision to steal confidential information on which clients’ audits the PCAOB would be reviewing so KPMG could improve its dismal inspection results—is scheduled to be sentenced on Dec. 2, according […]
This Collection of Big 4 Jack-o’-Lanterns Will Probably Be the Lamest Thing You’ll See on Halloween
We hope all of you spreadsheet zombies have a great Halloween. PwC Photo courtesy of The Bean Counter. Deloitte Photo courtesy of Fishbowl. KPMG EY Photo courtesy of Sandra Thompson-Drew (@SandraWThompson). And here are a couple of RSM jack-o’-lanterns just for the hell of it: Happy Halloween!
KPMG Must Really Like This Bill Thomas Fellow
Is Bill Thomas the most under-the-radar Big 4 global CEO right now? Everyone knows Bob Moritz, Punit Renjen, and Carmine Di Sibio. But if you don’t work at KPMG, or even if you do, did you even know Bill Thomas is the firm’s head chairman? I just now had to create a Bill Thomas tag for […]
Promotion Watch ’20: KPMG Admits 119 New Partners in the U.S.
It was new partner promotion announcement day at KPMG yesterday, and there are 119 individuals in the class of FY 2021 who will do Paul Knopp’s bidding. Speaking of Knopp, the firm’s chairman and CEO exalted the newest members of the club on LinkedIn Tuesday: Each of these talented professionals has demonstrated exceptional professional excellence […]
Ex-KPMG Partner Given Slap on the Wrist From Judge During Cheating Scandal Sentencing
Adrienne mentioned this in Footnotes on Friday, but just in case you missed it, former KPMG partner David Britt won’t be serving any time behind bars for his role in the audit firm’s scheme to cheat the PCAOB inspection process a handful of years ago. Instead, Britt, 57, who is a resident of North Carolina, […]
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 […]
FYI: One of the ‘KPMG 5’ Is Scheduled to Be Sentenced on Oct. 9 (UPDATE)
[Article updated with new sentencing date.] A Manhattan federal court judge will decide next month whether former KPMG executive David Britt should spend some time inside a jail cell for his involvement in a scheme to steal secret audit inspection information from the PCAOB. But if Britt, former co-leader of KPMG’s Banking and Capital Markets […]
RSM Poaches Someone From KPMG and Issues a Press Release, Part II
Back in the spring, right around the time the country was going to hell in a handbasket due to the Rona, Deborah Gordon had been wooed by RSM US to leave her job as leader of KPMG’s Federal Excise Tax practice to lead the Excise Tax practice at Really Still McGladrey. About four months later, […]
KPMG and Fidal Won’t Be Going to Court In France Over Lawyer Poaching
Remember back in February 2019 when about 130 lawyers fled France’s largest law firm, Fidal, to go work at KPMG France’s new legal practice, KPMG Avocats, and Fidal managing partner Yves de Sevin was pissed and said the firm was going to sue the pants off of KPMG for “unfair competition?” Well, we have an […]
Layoff Watch ’20: KPMG Executive Assistants Were Given an Ultimatum This Week
We saw this being discussed on the chatter sites earlier this week, but because our website has been hot garbage (as I’m sure many of you noticed) off and on since last Sunday, we couldn’t post anything. However, now that GC is back online and we’ve gotten tips from two sources at KPMG within the […]
Comp Watch ’20: Here’s What We Know About Raises This Year at KPMG (UPDATE)
[Updated on July 31 with additional information.] And we don’t know much at this point. We’ve seen and been told different things about what was said during a webcast on Thursday morning regarding raises at KPMG. But the one thing we do know is that KPMG is following in line with what the other Big […]
Big 4 Lawsuits: SCANA Investors vs. Deloitte, Miller Energy Investors vs. KPMG, Gridsum Investors vs. PwC
Plus, Illinois resident drops lawsuit against Deloitte Consulting, and PwC wants the city of Los Angeles to pay a price. Deloitte Wants Investor’s Nuclear Energy Project Suit Tossed [Law360] Deloitte doesn’t think it should have to face a lawsuit accusing the firm of issuing audit reports that misled investors on the progress SCANA Corp. was […]
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 […]
Promotion Watch ’20: Let’s Give a Thumbs Up to KPMG’s New Tax and Audit Bosses
Lynne Doughtie’s five-year reign as chairman and CEO of KPMG US came to an end on June 30, and her successor, Paul Knopp, wasted no time today appointing some KPMGers to extra special positions within the firm. KPMG today announced the leaders of the U.S. firm’s Audit, Tax and Advisory businesses, as well as the […]
By the Numbers: $2.06 Billion
That’s how much General Electric paid its longtime external auditor KPMG in fees from 2000 to 2019, according to an analysis of GE’s proxy filings for each of the past 20 years. GE dumped KPMG on June 22, ending an 111-year relationship. Deloitte will be GE’s new external auditor beginning in 2021. Here’s a breakdown of […]
Layoff Watch ’20: About 40 People In KPMG’s Marketing Department Got Some Bad News to Start the Week
In addition to the 350 or so people who we were told lost their jobs in the KPMG Digital Nexus group on Monday, we learned from a source that at least 40 people in KPMG’s marketing department were also laid off that day. A KPMG spokesperson confirmed Monday’s marketing layoffs this morning but couldn’t comment […]
Layoff Watch ’20: Some KPMG IT Folks Were Told Their Services Are No Longer Needed
[Updated on June 23 with additional information.] Another person who will be leaving KPMG involuntarily told us on Tuesday evening that Monday’s layoffs affected more than 350 people in the Digital Nexus group. Fourteen people had over 25 years, I personally have been here for 19. The 350 number came from my manager and several […]
Auditor Swap: General Electric and KPMG Officially Call It Quits
A love affair that spanned more than 110 years is coming to an end. General Electric announced today that it and KPMG are going their separate ways after this year. And GE’s new external auditing paramour is Deloitte. Here’s the statement GE released on Monday morning: GE (NYSE:GE) announced today that, following a thorough and […]
Accountants Behaving Badly: KPMGer’s Racist Facebook Rant, Wife Killer Charged Again, Thankful For the Rona
Plus, serial embezzler sentenced to nearly three years in prison, and United Arab Emirates accountant jailed for money laundering. KPMG distances itself from manager’s ‘racist’ Facebook rant [Trinidad Express] Sachin Boodram, an audit manager at KPMG in Trinidad and Tobago, probably should’ve just stuck to posting selfies, inspirational quotes, and recipes on his Facebook page. […]
Happy 50th Birthday to Walking KPMG Billboard, Phil Mickelson!
Everyone’s favorite blue-KPMG-hat-wearing, non-U.S.-Open-winning, left-handed duffer is turning the big 5-0 today. And the honorary Klynveldian was appreciative of the birthday wishes from the Mothership. Thank you @KPMG for the many years of support. I’m 50, time has flown by and I’ve loved every second of it! https://t.co/WMV8XYSRmO — Phil Mickelson (@PhilMickelson) June 16, 2020 […]
At Least KPMG Won’t Have the Worst 2018 PCAOB Inspection Report
We’ve finally reached the end of the six-pack of 2018 inspection reports released by the PCAOB on June 1. And we saved our favorite four-letter Big 4 firm for last. Among the Big 4, KPMG’s inspection reports have been the most abysmal. Since 2010, Deloitte, PwC, and EY have not had an audit deficiency rate […]
KPMG Poaches Someone From PwC and Issues a Press Release, Part V
Everyone’s favorite golf company just hired away a turnaround specialist from one of its biggest rivals in the U.K. Let’s take a trip to London for our latest edition of “Big 4-on-Big 4 Poaching From Around the World,” where we learn a little more about PwCer-turned-KPMGer Massimiliano Messina: Professional services firm KPMG has announced the […]
KPMG Pay Cuts Are Probably Not Going to Be Well-Received Outside of Australia
Not that long ago, I stuck a link to this story in a Friday Footnotes but just in case you missed it, let’s catch you up on the situation in my boy Roadhog’s esteemed home country. Back in late April, KPMG Australia used peer pressure relied on the strength of its team mentality to ease […]
Three Former KPMG Partners Charged by SEC For Being Dirty, Dirty Cheaters
Just when KPMG thought maybe everyone had forgotten about that whole cheating scandal debacle, the SEC announced Monday it settled charges with three more dirty cheaters who once called the firm home. The Securities and Exchange Commission today announced settled charges against three former KPMG LLP audit partners for improperly sharing answers to internal training exams […]
Wells Fargo Continues Bromance with KPMG
A bromance that began in 1931. Wells Fargo & Company (NYSE: WFC) announced today [April 28] that its shareholders elected as directors the 12 nominees named in the company’s proxy statement and approved the 2019 compensation of the company’s executives named in its proxy statement. Shareholders also ratified the appointment of KPMG LLP as the […]
BKD Poaches Someone From KPMG and Issues a Press Release, Part I
Before BKD CPAs & Advisors did a little housecleaning a week or so ago, the firm hired a guy from KPMG to be its newest director in the International Tax Services division. Josh Zellerman was a four-year vet of the Radio Station before jumping to the St. Louis office of BKD earlier this month. He […]
Let’s Enjoy a New Batch of Disgruntled 1-Star Reviews From Employees of Firms on the Vault Accounting 50 (2021)
On Vault Accounting 50 Day, Caleb used to delight in going through all the one-star employee reviews on Vault and highlighting some of the most cringeworthy, sad, and negative written about accounting firms. If you don’t know what I’m talking about, you can click here and here. In my article on the 2020 Vault Accounting […]
Some KPMGers Got Voluntold to Work Overnight Processing PPP Loan Applications
KPMG staffers who have some idle time on their hands won’t for much longer. This KPMG communiqué was emailed to our tipline this morning: We are pleased to share that we have won an important engagement to support a large US bank processing loans as part of the Paycheck Protection Act. The work begins immediately […]
KPMG US Update: Partners Taking Pay Cut, No Variable Compensation, No Omaha Steaks
[Updated with additional information.] OK, here’s what we were told today about the video message from KPMG CEO Lynne Doughtie that was posted internally last night. What we know is pretty much the same as what has been posted so far to Reddit and Fishbowl. Basically what we were told by a source was Lynne […]
KPMG CEO Lynne Doughtie Assures Employees No Layoffs Are Coming
We got a tip this morning which we were able to confirm with two other sources that in an internal firm video we think was sent to employees last night, KPMG CEO Lynne Doughtie said protecting KPMGers during the crisis caused by the COVID-19 outbreak was her first priority and that layoffs would be an […]
EisnerAmper Poaches Someone From KPMG and Issues a Press Release, Part I
News of new hires in public accounting has pretty much dried up since the COVID-19 outbreak in the U.S. led to many firms turning off the lights and going into work-from-home mode for the foreseeable future. Earlier this week we posted about KPMG recently hiring 10 senior tax professionals, including three from EY and two […]
KPMG Poaches Someone From PwC and Issues a Press Release, Parts II and III
Back about seven or eight years ago, there was no bigger rivalry among the Big 4 than PwC vs. KPMG. The House of Klynveld was constantly trying to steal P. Dubs’ audit clients and KPMG pretty much became PwC’s personal farm system for partners and directors. Between 2011 and 2013, there were at least nine […]
KPMG Poaches Someone From EY and Issues a Press Release, Parts I, II, and III
With nearly all of the top public accounting firms in the U.S. closing their offices and sending their staffs home to work for the time being because of the COVID-19 pandemic, hiring has pretty much come to a standstill. But over the course of a few months before all of this happened, KPMG hired a […]
Whaddaya Know, KPMG Is Going Full-On Work From Home Too
Honestly, I didn’t think we’d get an announcement until later this morning from KPMG about going mandatory work from home due to the COVID-19 outbreak in the U.S. But at around 10:45 p.m. CT Monday night, this message came in through the tipline: Kpmg has announced mandatory work from home starting 3/18 They r shutting […]
Rumor of the Day: Some KPMG Auditors Are Getting a Break From Clients Because of Coronavirus Panic
So, some audit clients have allegedly told KPMG auditors not to come to their offices because of coronavirus concerns, according to a post on Fishbowl. We don’t know if these KPMG audit clients legitimately have COVID-19 concerns or, as one Fishbowl poster says, they just want the auditors off their backs for a bit. Anyway, […]
KPMG Selects Paul Knopp to Succeed Lynne Doughtie as U.S. Chairman and CEO
KPMG announced this afternoon that Paul Knopp will become the new U.S. chairman and CEO and Laura Newinski the new deputy chair of the firm on July 1. Both will serve five-year terms. KPMG partners gave their blessing to the promotions in a vote completed yesterday. Knopp and Newinski seem pretty happy with the outcome […]
The Fortune 100 Best Companies to Work For: KPMG #32 (2020)
First off, congrats to KPMG for actually beating Deloitte and PwC at something. And congrats, Klynveldians, for your favorite firm moving up four spots from last year’s Fortune 100 Best Companies to Work For list. KPMG celebrated KPMG by putting out this over-the-top KPMG video on social media: Our ongoing commitment to our #culture, strong […]
Andersen Poaches Someone From KPMG and Issues a Press Release, Part I
Oh look, Andersen hired someone from a Big 4 firm who didn’t work for Arthur Andersen earlier in their career, unlike this guy. Andersen welcomes Edward Schulte as a Managing Director in the San Francisco office as part of the Alternative Investment Funds (AIF) practice. Edward has 18 years of experience in public accounting and specializes in […]
Plante Moran Poaches Someone From KPMG and Issues a Press Release, Part I
Who knew KPMG would become a factory for cranking out future accounting firm chief marketing officers? Earlier this week we told you guys about Dixon Hughes Goodman recently hiring ex-KPMGer Danielle Cimato as its new CMO. And then yesterday, Plante Moran announced that former Klynveldian Marten van Pelt was hired to succeed partner Jeff Antaya […]
Life at KPMG Will Consume Your Mind, Body, Soul, and Stomach
Is this what y’all at KPMG are being fed during these long busy season days/nights? If so, I’m sorry. View this post on Instagram A post shared by KPMG U.S. Careers (@kpmg_us_careers) Related article: KPMG’s Logo May or May Not Give You Heartburn
DHG Poaches Someone From KPMG and Issues a Press Release, Part II
You gotta hand it to Dixon Hughes Goodman. I don’t know what they’re offering—decent compensation packages, a big enough commitment to work-life balance that it moves people to tears, a perk better than Omaha Steaks—but they sure have been landing a lot of ex-Big 4 lately, including former KPMGers. While it’s not a glitzy hire […]
Aprio Poaches Someone From KPMG and Issues a Press Release, Part I
When your accounting firm is hovering around the 50th largest in the U.S. and you lure someone away from a Big 4 firm like KPMG, not only will you get a write-up in Going Concern but that news might be big enough to be featured in a local business publication. That’s what happened recently when […]
KPMG Poaches Someone From Deloitte and Issues a Press Release, Part II
Let’s start this week with a little Big 4-on-Big 4 poaching action, shall we? Yes, we shall. And once again, KPMG is raiding its Green Dot rivals. Joseph Fisher is the latest Big 4 partner to switch his colors from green to blue, leaving Deloitte & Touche’s Investment Management Audit & Assurance practice, which he […]
SEC Takes Away Privileges From Another Felon In KPMG/PCAOB Scandal
David Middendorf’s trial buddy, Jeffrey Wada, the now-former PCAOB inspections leader who fed confidential information about upcoming audit inspections to some folks at KPMG, including Middendorf, in the hopes of landing a job at the Big 4 firm, is now prohibited from appearing or practicing before the Securities and Exchange Commission as an accountant. Wada’s […]
Kamp KPMG’s Head Counselor Is Running the Winter Interns Ragged
Lynne Doughtie is building up the KPMG recruits’ stamina for those marathon, 16-hour days during busy season. View this post on Instagram A post shared by KPMG U.S. Careers (@kpmg_us_careers) Not shown is the winter interns drinking a large glass of Kool-Aid to quench their thirst after their morning jog. Related articles: What Do You […]