With Project Everest on Pause, Let’s Pause a Sec to Shed a Tear For EY’s Reputation As Transaction Advisors
Not a good look, you guys. Then there’s this — unconfirmed and now removed — post on Fishbowl a couple days ago: “This will be resolved within weeks, not months, because we not only need momentum across the deal but we need clarity for all our stakeholders,” said Patrick Winter, EY’s Asia-Pacific managing partner a […]
PwC Declares a Poaching War on EY
As EY continues to hammer out the details of the audit and consulting split, PwC has set its sights on adding EY partners to The New Equation. Lots of EY partners. In October, PwC Global Chairman and 2012 Going Concern Hottest Accounting Firm Leader winner Bob Moritz told the Financial Times in no uncertain terms […]
Some High Level Folks Have Abruptly Left BDO and No One Seems to Know Why (UPDATE)
People who know know there’s something happening at BDO USA. We are working on getting to the bottom of a few things that we can’t quite share with you until we have more information but in the meantime, we need to talk about how leadership is apparently getting axed — or leaving? — and no […]
Audit Partners and MDs Work Much, Much Harder Than Everyone Else at PwC
Saw this in PwC’s 2022 Audit Quality Report and wanted to get the peanut gallery’s opinion on this math: My first thought is imagine how much worse these numbers would be if you people didn’t eat as many hours as you do. Though judging by this, you’re getting much better at it. Thoughts? Concerns? Outrage? […]
Research: The Profession Continues to Have a Gender Diversity Problem at Upper Levels
Though some progress has been made in recent years, women continue to be suspiciously absent at the highest levels of public accounting. This fact has been amplified by new research published in Journal of Accounting and Public Policy. “Gender equity in public accounting: Evidence from single audit partner and director engagement leaders” examines vertical segregation […]
Rumor: Is Some Culture Drama Going Down at Grant Thornton?
We received a tip about a situation over at Grant Thornton that may or may not have any basis in reality but since the only time Grant Thornton ever gets mentioned here is to get made fun of over being so bad at auditing (it’s getting better OK!) we thought hey, let’s have a discussion […]
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 […]
Considering a Move? Don’t Believe Everything Partners Tell You to Convince You to Stay
Thinking about leaving public accounting? You are not alone. With burnout and attrition at an all-time high, partners will tell you almost anything to keep you on board. Often half-truths at best, the lies told to staff, seniors, and managers alike are nothing new. Here are some of my personal favorites: Lie #1: If you […]
Number of the Day: 53
The average age of a non-Big 4 public accounting firm partner hasn’t really changed at all in the last three years. In late December 2018, CPA Journal analyzed the results of the 2018 NYSSCPA–Rosenberg Practice Management Survey and mentioned this in regards to partners’ ages: Partners have gotten slightly younger, both in terms of average […]
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 […]
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, […]
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 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 […]
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, […]
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 […]
Promotion Watch ’20: Grant Thornton Admits 30 New Partners and Principals
Grant Thornton unveiled its 66 newest partners, principals, and managing directors on Thursday, and if we just take a look at the latest class of partners and principals, the number of purple roses that were handed out was a lot less than in previous years. Thanks, Rona. The group of 30 new partners and principals […]
Promotion Watch ’20: PwC Admits 232 New Partners and Principals
Today is Promotion Day at PwC, a day to celebrate all those PwCers who earned their new stripes and stepped up in rank, including the firm’s newest class of 128 partners and 104 principals. This year’s class of 232 partners and principals isn’t as robust as the previous two years, but it’s the third largest […]
Number of the Day: 0.366%
According to a report by The Telegraph, this is the percentage of black equity partners at the Big 4 firms in the U.K. Just 11 of the almost 3,000 equity partners at the Big Four accounting firms are black, forcing bosses to promise a push for diversity in their senior ranks as the Black Lives Matter movement turbocharges calls for racial […]
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 […]
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 […]
PwC Australia Staffers Looking at Pay Cuts of Up to 40%
Another day, another big accounting firm slashing staff salaries during the COVID-19 pandemic. This time it’s PwC Australia. At least P. Dubs hasn’t laid anyone off (yet) like KPMG Australia did. The Australian Financial Review reported today: Big four consulting firm PwC will cut the hours and pay of under-utilised staff by up to 40 […]
Grant Thornton Reducing Partner Draws By 25% For the Rest of FY 2020
[Updated with message from CEO Brad Preber to Grant Thornton staff.] Yesterday evening as I was on my way home from picking up some Red Robin for dinner for me and my family, we got a text on the tipline that Grant Thornton partners in the U.S. are taking a 25% pay cut. That was […]
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 […]
KPMG U.K. Won’t Have to Deal with Deal Advisory Partner Anymore
The whole Sanjay Thakkar bullying saga at KPMG U.K. has mercifully come to an end. The Financial Times reported on Feb. 28: One of KPMG’s most senior partners who was at the centre of a bullying dispute has left the firm eight months after widespread scrutiny of his conduct that led to a crackdown on […]
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 […]
Convicted Ex-KPMG Partner David Middendorf Suspended By the SEC
Another “KPMG 5” executive who will be serving prison time for his role in a scheme to steal confidential audit inspection lists from the PCAOB was suspended today from appearing or practicing before the Securities and Exchange Commission as an accountant. The SEC released the following two-page order of suspension against David Middendorf, former national […]
Fired Deloitte Switzerland Partner Owes Deloitte Some Money After Defeat In Court
David Joseph might be regretting taking Deloitte to court over his firing. The Financial Times reported yesterday: A high-profile banking consultant sacked by Deloitte over alleged bullying and large expenses claims has been ordered to pay £125,000 to the Big Four accounting firm. David Joseph, who was among the highest fee-earners at Deloitte Switzerland, was […]
Judge and Ex-Deloitte Switzerland Partner Weren’t on the Same Page Apparently
Remember that lawsuit we told you about last week filed by a now-former Deloitte Switzerland partner who thought he was wronged by the Big 4 firm for breaching his partnership contract and being labeled as manipulative, toxic, and a bully? Well, it’s already over. Judge Philippa Whipple said in a London High Court ruling on […]
Promotion Watch ’19: Crowe Adds 34 New Partners and Principals
It’s time to take the noise makers out of your desk drawers and blow on them furiously because there will be 34 brand-new partners and principals at Crowe once the clock strikes midnight on April 1, 2020. The class of 2020 is fairly large by Crowe standards. It surpasses this year’s class of 24, the […]
Lawsuit: Ex-Deloitte Switzerland Partner Accused of Bullying Seeks Vengeance In Court
While David Joseph isn’t seeking vengeance in the same way as, say, Frank Castle (aka The Punisher), who single-handedly wiped out anyone who was remotely involved in the deaths of his wife and children, the former Deloitte Switzerland partner is taking his former employer to court, claiming a formal Deloitte investigation that resulted in him […]
Jailed Ex-KPMG Executive Director Barred By the SEC Because Why Not?
Cynthia Holder, one of the “KPMG 5” who was sentenced to eight months in federal prison in August for her role in a scheme to steal confidential audit inspection information from the PCAOB, was “denied the privilege” of appearing or practicing before the SEC as an accountant, the commission announced on Nov. 29. The SEC […]
Promotion Watch ’19: KPMG Admits 138 New U.S. Partners
We’re about T-minus 30 days until KPMG releases its global revenue for fiscal year 2019. In the meantime, we got word on who the newest rainmakers in the Americas region will be for FY 2020. KPMG gave 266 lucky boys and girls in the Americas keys to the partnership. Of those 266, 138 are from […]
Layoff Watch ’19: KPMG U.K. Partners Fear the Zebra
KPMG U.K.’s better-late-than-never belt-tightening endeavor called “Project Zebra” is leaving carnage in its wake almost on a weekly basis. First, about a third of the firm’s 630 administrative assistants are losing their jobs. Then, employees had to give up their work-issued mobile phones. Next, average pay per partner is reportedly being cut by 10% over […]
Compensation Watch ’19: Partners Are Down with IPP
I got an email the other day about the latest Rosenberg MAP Survey being available for purchase, and because I don’t have an extra $500 laying around (and neither do The Powers That Be at Accountingfly), I went looking for highlights from this year’s survey instead. And I stumbled upon some updated info about income […]
Ex-PCAOBer Jeffrey Wada Gets Prison Time For Being a Blabbermouth In KPMG Scheme
Being passed up for a promotion can cause a person to do really dumb things in a fit of anger. For now-former PCAOB inspections leader Jeffrey Wada, the really dumb thing he did was illegally tip off executives at KPMG—not once but twice—about which KPMG audits the PCAOB would be reviewing so the firm could […]
Layoff Watch ’19: Grant Thornton U.K. Cuts Reach the Partnership Level
Let’s face it, 2019 hasn’t been the best year for the Queen’s Grant Thornton, and neither was 2018. Let’s recap: 2018 Stopped bidding for new audit work at the largest U.K. companies. Patisserie Valerie accounting fraud; Grant Thornton was the auditor and is under investigation by the Finanical Reporting Council. Fined £3 million by the […]
Promotion Watch ’19: Moss Adams Admits 28 New Partners
More than two dozen of Moss Adams’s finest got a Golden Ticket from the accounting firm’s very own Willy Wonka, Chairman and CEO Chris Schmidt, on Oct. 1. While we’re not sure if the new partner class of 2019 is the largest in the firm’s 106-year history, it is the biggest since 2014: 2018: 21 […]
Promotion Watch ’19: RSM Adds 80 New Partners and Principals
Whoa, the newest crop of partners and principals might be the largest ever at R to the S to the M. The good news was shared via Twitter on Oct. 1. AND THERE ARE FUN FACTS! Let's give it up for our 80 newest partners and principals! 🎊🎉 https://t.co/CEF9Uo7kDy pic.twitter.com/vKD78mYRyN — RSM US LLP (@RSMUSLLP) […]
Another One of the ‘KPMG 5’ Has Pleaded Guilty In PCAOB Scheme
David Britt is the latest former KPMG partner who has admitted guilt for participating in a scheme to steal confidential audit inspection information from the PCAOB. Britt, 56, who was a co-leader of KPMG’s Banking and Capital Markets Group, pleaded guilty to one count of conspiracy to commit wire fraud on Oct. 3. His trial […]
Promotion Watch ’19: BDO Admits 48 New Partners
Wayne Berson is letting 48 lucky guys and gals join the club, in what is one of the largest new partner classes in BDO USA’s history. Says Wayne-o: “We are proud to welcome the largest class of partners at BDO in more than 20 years,” said Wayne Berson, CEO of BDO USA. “Each of our […]
Promotion Watch ’19: Let’s Congratulate Deloitte’s 386 New PPMDs for FY 2020
It’s been quite a while since we’ve done a post on new partner promotions at Deloitte, so we wanted to give some kudos to not only the 65 new partners in the class of 2020, but also the 236 managing directors and 85 principals who were recognized by Ucuzoglu & Co. for a job well […]
Ex-KPMG Partner David Middendorf Was Spared a Lengthy Prison Sentence
A second member of the “KPMG 5” will serve jail time for his involvement in an information-stealing scheme to cheat the PCAOB inspection process. David Middendorf, former national managing partner for audit quality and professional practice at KPMG, was sentenced this morning in Manhattan federal court to one year and one day in federal prison, […]
Ex-KPMG Partner’s Request to Have His Wire Fraud Conviction Thrown Out Gets Shot Down, Crashes, Burns
Welp, so much for that. David Middendorf, former national managing partner for audit quality and professional practice at KPMG, is scheduled to be sentenced in Manhattan federal court tomorrow, according to Law360, for his role in an information-stealing scheme in which PCAOB insiders fed KPMG executives secret plans on which of the Big 4 firm’s […]
KPMG U.K.’s WhatsApp Fiasco Claims Two More Partners
Let’s take a look and see how things are going in KPMG U.K.’s financial services consulting business now that two more partners are leaving the firm after their boss was fired last month over messages he apparently sent on WhatsApp: The KPMG financial services consulting practice is now “a bit of a disaster zone,” a […]
Ex-KPMG U.K. Partners Start Consulting Firm Devoid of Any Big 4 Bullsh*t
Remember Maggie Brereton and Ina Kjaer, the two KPMG U.K. partners who quit earlier this year because the firm protected a male partner who was accused of being a bully? Well, the two women have launched their own consulting firm that they say will be everything the Big 4 is not. The name of their […]
Promotion Watch ’19: Marcum Adds 16 New Partners
While Major League Baseball teams expanded their rosters on Sept. 1, Marcum expanded its partner roster on Sunday, calling up 16 men and women to the big leagues. This year’s new partner class is by far the firm’s largest since 2010. The only one that comes close is 2017’s 13 promotions. Let’s take a look […]
Promotion Watch ’19: Grant Thornton Admits 42 New Partners and Principals
The last month hasn’t been the greatest for Grant Thornton, as the firm gave pink slips to 230 professionals and 40 PPMDs, approximately 3.5% of its workforce, at the end of July. So GT’s leadership probably wanted to wait until the dust settled before they announced that interim CEO Brad Preber had recently handed out […]
WhatsApp, KPMG? U.K. Partner Given the Heave-Ho Over Messages He Sent
More hijinks going on at KPMG U.K., as reported yesterday by the Financial Times: KPMG has forced out the head of one of its core businesses in Britain after an investigation into his conduct involving messages sent on WhatsApp. Tim Howarth, head of financial services consulting at KPMG, is the third senior partner to be […]
Ex-KPMG Executive Director Who Was Major Player In PCAOB Cheating Scandal Sentenced to Eight Months In Jail
The first prison sentence was handed out today in Manhattan federal court to one of the five former KPMG executives indicted in a scheme to steal confidential audit inspection information from the PCAOB. Cynthia Holder, a former PCAOB inspections leader who later worked as an executive director at KPMG, was sentenced to eight months in […]
What Price Wrong-Doing? Sanctions Against KPMG Are Complicated
“Sell in May and go away” was an investors’ adage invoked as vacation strategy in a more genteel era. Returns in the summer were said to lag the rest of the year—and in any event, that’s how brokers justified their holiday cottages on the eastern seaboard. This year the maxim has twice failed my attempt […]
Promotion Watch ’19: EY Admits 733 New Partners Worldwide
Because July 1 kicks off a new fiscal year at EY, we figured a new partners announcement would be forthcoming. And it came today, via the new leader of the Black and Yellow, Carmine Di Sibio: Our Global Chairman and CEO, Carmine Di Sibio congratulates our new partners around the world. Their contributions have helped […]
KPMG U.K. Doesn’t Really Care If You Don’t Like How It Handled Complaints Against Partner Accused of Bullying
We were so busy trying to wrap our heads around the $50 million fine the SEC gave KPMG last week for its auditors’ involvement in two separate scandals and which of the two might be more damaging to the firm’s reputation that we missed a new article about the bullying allegations made against KPMG U.K. […]
SEC Says $50 Million Fine For KPMG Is ‘Significant’ and ‘Appropriate’ For All That Cheating Going On
The SEC made official today the news that Dave Michaels of the Wall Street Journal broke late last week, announcing that KPMG will pay $50 million to settle allegations that former partners “stole the test” by using confidential information that was being fed to them by a PCAOB insider to improve the firm’s performance on […]
$50 Million Fine SEC Is Reportedly Giving KPMG Over PCAOB Scandal Isn’t Big Enough
Dave Michaels of the Wall Street Journal broke some huge news late last night about a huge fine the SEC could levy against KPMG later this month because of several former partners’ involvement in one of the biggest U.S. accounting scandals in recent years—stealing secret audit inspection information from the PCAOB. KPMG LLP is preparing […]
Here’s More Proof That KPMG U.K. Totally F*cked Up the Way It Handled Bullying Allegations Against Partner
The Financial Times reported today that three—THREE—senior executives at KPMG U.K. were aware of and ignored concerns from staff as early as 2017 alleging senior partner Sanjay Thakkar was acting like a bully before they finally got around to launching an investigation about the complaints last October. KPMG employees approached the firm’s UK managing partner Philip […]
KPMG U.K. Partner Accused of Being a Bully Decides He Probably Shouldn’t Be a Partner Anymore
Remember that KPMG U.K. male senior partner we told you about last week, the one who was accused of being a bully and was found by the firm to have acted like a jerk but not a bully when he was probably acting like a bully, and then two well-respected female partners quit in protest? […]
Promotion Watch ’19: PwC Admits 249 New Partners and Principals
The most prestigiest firm in all the land unveiled its 2019 class of new partners and principals on May 31, and it’s another big one: I am thrilled to welcome 249 new partners to our @PwCUS family! These leaders have led by example and I'm excited to see what the future holds for them and […]
Two KPMG U.K. Female Partners Had Enough Of Working At a Firm That Protected An Alleged Bully
Last December we learned that the Big 4 firms across the pond sacked nearly 40 partners (probably all men, although we don’t know for sure) within the past four years for inappropriate conduct, such as sexual harassment and bullying, seven of whom had worked at KPMG. But KPMG evidently sided with a male partner who […]
Ex-KPMG Partner David Middendorf Believes He’s Been Done Wrong, Wants a Crack At a New Trial
Don’t get out those orange prison jumpsuits just yet for former KPMG partner David Middendorf and former PCAOB inspections leader Jeffrey Wada. The two men are asking a Manhattan federal court to throw out their wire fraud convictions or grant them a new trial, saying the government didn’t provide enough evidence to support the guilty […]
Ex-KPMG Executive Director’s Sentencing Put Off Until June
We won’t know until June at the earliest how much prison time former KPMG executive director Cynthia Holder will get for her involvement in a scheme to steal confidential audit inspection information from the Public Company Accounting Oversight Board. Holder was supposed to be sentenced in Manhattan federal court on April 5, but her sentencing […]
Ex-KPMG Partner’s Fraud Trial: David Middendorf and Jeffrey Wada GUILTY!
A Manhattan jury on Monday convicted former KPMG partner David Middendorf and former Public Company Accounting Oversight Board staffer Jeffrey Wada for their roles in one of the biggest accounting scandals in recent years. Law360 court reporter Jack Newsham broke the news on Twitter earlier this afternoon: https://twitter.com/TheNewsHam/status/1105198618003324930 https://twitter.com/TheNewsHam/status/1105202676642578435 Newsham wrote that the verdict could […]
KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Parts I and II
We here at GC HQ love a good poaching, especially when it involves two of the top six firms in the U.S. So we were happy to see this press release from KPMG come across our virtual desk this morning: Mark Rems has joined KPMG LLP, the audit, tax and advisory firm, as a principal […]
Ex-KPMG Partner’s Fraud Trial: David Middendorf Takes the Stand
Law360 court reporter Jack Newsham wrote on Feb. 28 that it could happen this week, and he was right: Former KPMG partner David Middendorf took the stand this afternoon to testify in his own defense. https://twitter.com/TheNewsHam/status/1102661422411063296 Authorities have said that Middendorf and four of his former KPMG colleagues—Thomas Whittle, Brian Sweet, David Britt, and Cynthia […]
Ex-KPMG Partner’s Fraud Trial: What David Middendorf Allegedly Said Once the Scheme Started to Unravel
OK guys, things are starting to get good in the David Middendorf trial. We now know the identity of “Partner-5”—the person at KPMG who allegedly blew the whistle on the information-stealing scheme that five KPMG executives and one Public Company Accounting Oversight Board employee were involved in to help KPMG know ahead of time which […]
Ex-KPMG Partner’s Fraud Trial: Brian Sweet Takes the Stand
The trial of ex-KPMG partner David Middendorf keeps rolling along, as prosecutors on Feb. 19 called on one of the major players in the scheme to steal secret audit inspection information from the Public Company Accounting Oversight Board to testify against Middendorf. Brian Sweet, a former associate director at the PCAOB who later became a […]
Ex-KPMG Partner’s Fraud Trial: Opening Arguments
A jury heard opening arguments in a Manhattan courtroom on Feb. 12 in the trial of a former high-ranking audit partner at KPMG who was charged with conspiracy and wire fraud for his role in a scheme to cheat the Public Company Accounting Oversight Board inspection process. David Middendorf and co-defendant Jeffrey Wada, a former […]
Crowe Admits 24 New Partners and Principals
No, the amount of new partners and principals elected by Crowe LLP wasn’t 26—the number worn by former Nashville Predators rugged left winger Phil Crowe. But the firm will be giving 24 professionals a seat at the big kids’ table come April 1, 2019. The 2019 new partner and principal class at the top 10 […]
Plante Moran Adds 15 New Partners
Promotion Watch has landed in the Detroit ’burbs, where 15 men and women at top 15 firm Plante Moran have received their partner badges. Plante Moran’s partnership classes have gone up and down in numbers in recent years, kind of like Going Concern’s page views: 2018: 15 2017: 21 2016: 13 2015: 16 Much like […]
Moss Adams Admits 21 New Partners
When it comes to new partner promotions, Going Concern has never given much love to Moss Adams. But that ends today! Earlier this month, the top 15 firm, based in Seattle, gave 21 men and women keys to the partnership. This year’s class is rather large by Moss Adams standards: 2018: 21 2017: 14 2016: […]
RSM US Adds 68 New Partners and Principals
Oct. 1 was a big day for the denizens of RSM US, as 68 new partners and principals were released into the wild. RSM is pleased to announce our 68 newest partners and principals! https://t.co/seOK5zui4F pic.twitter.com/YqsSwVGjiA — RSM US LLP (@RSMUSLLP) October 1, 2018 This year’s class of new partners and principals at the firm […]
Ex-EY Partner to CEO Mark Weinberger: ‘Let’s Make EY a Better Place to Work for Women’
In a Sept. 26 letter to EY Global Chairman and CEO Mark Weinberger, former partner Karen Ward, who filed a sexual harassment, gender discrimination, and retaliation complaint against the firm earlier this week, invited the firm’s leadership and board of directors to meet with her to “discuss my experiences at EY and additional ways in […]
Another Former EY Partner Has Filed a Sexual Harassment Complaint Against the Firm
[Updated on Sept. 25 with allegations from the complaint, full statement from EY, and full statement from attorney Michael Willemin.] A former female partner at EY filed a complaint with the Equal Employment Opportunity Commission on Sept. 24, accusing the firm of sexual harassment, gender discrimination, and retaliation. This is the second such complaint filed […]
CONFIRMED: Public Accounting Firm Partners Are Filthy Rich
Hear that squeaky, rattling sound? That’s a partner pushing a wheelbarrow full of cash through the hallways of your firm. Accounting Today has some highlights from the latest Rosenberg MAP Survey, which includes this tidbit: This year, the survey found that income per partner increased to $441,000, or 3 percent higher than last year. However, […]
Deloitte Australia Is Going to Allow Partners to Work There Until They Become Old Geezers
We’re just chock full of news about Deloitte Australia today. Earlier on, Adrienne poked fun at the firm’s ridiculous career break program. Then we come to find out that Deloitte is going to allow its partners to work there until they are frail and barely breathing—as long as they are making a meaningful contribution to […]
Grant Thornton Admits 32 New Partners and Principals
This just in from the Purple Rose of Chicago: Grant Thornton LLP has admitted 32 new partners and principals, and promoted 29 to managing director, effective today. Specifically, 20 new partners and 12 new principals are members of the class of 2018. Here’s how this year’s numbers compare to previous years’ new partner/principal promotions at […]
EY Promotes 747 New Partners Worldwide
We here at Going Concern have been anxiously awaiting the new EY partners announcement, and it finally came today. The 747 new partners worldwide in the class of 2018 is the most in three years. So, I suppose fireworks were in order: Today we're proud to celebrate our 747 diverse new partners around the world […]
Deloitte ‘Betrayed Me,’ Alleged Sexual Assault Victim Told CEO in Email
A former Deloitte Bermuda staffer who has accused a senior partner in the Big 4 firm’s New York office of sexual assault emailed Deloitte LLP CEO Cathy Engelbert in 2017 about the alleged attack and said the firm “betrayed me,” according to a July 9 NBC News report. The senior partner has not been charged […]
Report: Ex-Deloitte Bermuda Staffer Accuses U.S. Partner of Sexual Assault
The Australian Financial Review reported on July 3 that a woman who used to work in Deloitte’s Bermuda office has accused a male senior partner from the Big 4 firm’s New York office of sexual assault in a Bermuda hotel room in August 2015. The woman, who did not want to be identified in the […]
Baker Tilly Admits 11 New Partners
Apologies for this slipping through the cracks, but earlier this month, Baker Tilly Virchow Krause announced it was bringing 11 new partners onboard. The new partners—four ladies and seven gentlemen—officially got their stripes on June 1. Since 2013, Baker Tilly has admitted an average of about 11 partners a year, so this year’s class is […]
PwC Admits 233 New Partners and Principals in the U.S.
A tipster (Caleb) let me know that PwC released its list of new 2018 partners and principals across the United States and Mexico on June 1. This year’s crop totals 233, which surpasses the 212 who joined the ranks of partner or principal in 2017. In comparison, there were 226 in the 2016 class, 201 […]
BDO USA Admits 37 New Partners
Caleb sure picked a bad time to start a new job. New partner announcement season was one of his most favorite times of the year. I’m sure he’s celebrating the start of this season from afar. Today, BDO USA announced that 37 new partners will be admitted to the partnership, effective July 1. The 2018 […]
If EY Treats a Partner Who Reports Sexual Misconduct Like This, What Hope Do Other Employees Have?
Update in the 18th paragraph includes an additional statement from Ernst & Young. One of the more shocking details from the sexual harassment complaint against Ernst & Young is that even though the victim, Jessica Casucci, was a partner, other partners and senior officials in the firm either did nothing or took action to protect […]
Former PwC Partner Suing Firm After Getting Fired for Groping a Co-worker Who He Can’t Remember Groping But Knows He Didn’t Grope
Let’s say you’re a professional businessperson and you’re at a work event. Let’s also say that you and your colleagues are wearing costumes. And let’s also say that there’s plenty of alcohol and some people are overserved and you are one of these overserved persons. At some point in this scenario, while you’re deep in your […]
What to Do if You Find Yourself Reverse Mentoring a Public Accounting Partner
It’s no secret that public accounting churns and burns its employees. Burnout is a cost of doing business. The result is fewer people embark on the partner track and those who become partners plan on staying put. I’d say most of those partners are crossing their fingers that the gravy train keeps chugging along from […]
The Number of Women Partners in Accounting Firms Is Still Abysmal
Earlier this month, the AICPA Women’s Initiatives Executive Committee (WIEC) issued its second CPA Firm Gender Study and its findings are not encouraging. The survey found that partnership on average remains overwhelmingly male. The current survey shows little change from studies done in years past, which have typically found less than one-quarter of the partnership […]
Grant Thornton Admits 39 New Partners and Principals
Who are the new Grant Thornton partners? Glad you asked. The firm announced them earlier today along with new principals and managing directors, as is customary for the Purple Rose of Chicago. If you like to parse these things out, then it breaks down as: 27 partners, 12 principals and 28 managing directors. In the […]
Accounting Firm Partners Impressed by Millennials Not Acting Millennialish
Sure, these millennials look like they aren’t doing anything. But these are just stock photos. They aren’t real life. In this column at CPA Practice Advisor, accounting firm consultant Marc Rosenberg writes about putting a bunch of partners into a room with a couple of millennial accountants and hilarity ensues when they all break out […]
The Number of Female Audit Partners Is Terrible
A new study shows that women are drastically underrepresented as audit firm partners, averaging only around 16 percent for audit partners with U.S. audit clients. In some cities such as Washington, D.C. and San Jose, California, the percentage of female partners was around 10 percent. Yikes. The Big 4 firms performed a little better than […]
EY Promotes 669 New Partners Worldwide; Numbers Down for Second Year in a Row
Yeah, it’s the old logo, but I’m sure the firm prefers it to shirtless dudes. Sorry, it seems I’m a bit slow to the new EY partner news. Here’s Mark Weinberger on Sunday: We are committed to developing and strengthening our pipeline of diverse leadership. #BetterWorkingWorld pic.twitter.com/rwui5G0Nvc — Mark Weinberger (@Mark_Weinberger) July 10, 2017 There’s […]
BDO Admits 36 New Partners
Congratulations to the 36 very good boys and girls who can count themselves among the flock of BDO’s chosen ones. Okay, maybe that’s a touch extravagant for a BDO partner, but that does not diminish the achievement. This year’s class is a smidgen smaller compared to last year’s 39, but it’s still a large class […]
PwC Admits 212 New Partners and Principals in U.S.
I think this year’s new PwC partners should feel extra special on their day of recognition because it also happens to be National Doughnut Day. Even if you NEVER eat doughnuts, I think you can forgo discipline for the day the world learns that you’ve become a partner at PwC. This marks the second year […]
Here’s Some BDO Partners Getting Pied in the Face
As far as good ol’ fashioned comedy bits go, a pie to the face still holds up well. It won’t get the biggest laugh, but it sure is satisfying to watch. Someone at BDO knew this and put it to work by incorporating it into their campaign to raise donations for National Red Nose Day. […]
Accounting Firm Partners Everywhere Managing Expectations at Home
CPAs’ cats everywhere are all like… It’s been a wild week in the tax world, even if it’s mostly been bluster. Talk of tax cuts has corporate executives, rich people, and sitting U.S. Presidents all hot and bothered. But it probably has a lot of accounting firm partners fantasizing too, not only because they’re dreaming […]
Grant Thornton Admits 47 New Partners and Principals
Grant Thornton announced its new partner class yesterday and while this year's group was slightly smaller than last year's class of 50, it's still far larger from those in recent years. There were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Here's the newly […]
At Armanino, Pursuing a Niche Results in More Than Just Making Partner
This is sponsored content brought to you by Armanino, an Accountingfly Firm Partner. In January 2016, Jason Gilbert became a partner at California-based Armanino LLP, 10 years after walking in the door as a 24-year-old staff accountant. His rise took the usual hard work and talent, but he clinched the partnership spot by getting creative―and […]
BDO Admits 39 New Partners
Oh look, we have more new partner news. BDO actually made this announcement a few weeks ago, but no matter, the new partners officially got their stripes on July 1. The 2016 class of 39 marks the seventh straight year of growth. There were 30 new partners in 2015, 24 in 2014, 16 in '13, […]
EY Admits 714 New Partners Worldwide
It’s a new fiscal year in the EY universe which means a new partner class. Here’s a tweet and a video:
Close to Partner, But Having Second Thoughts
PwC announced its new partner class last week and it's a reminder that becoming partner in accounting firm is an impressive career milestone. Yes, despite a ton of opportunities to find meaningful, less soul-sucking work elsewhere, a few of you reading these words right now will become partners and live to tell about it (at […]