October 23, 2020

RSM

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, […]

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

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

After a Tough Spring, Raises Are Back on the Table at RSM

In April of this year, we reported that RSM had begun performance-based layoffs which likely had little to do with that whole Rona thing that caused multiple firms to start laying people off and slashing salaries back then. Then in June we reported that more than a few tipsters were upset to hear raises would […]

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

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

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

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

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

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

Layoff Watch ’20: Here’s What We’ve Been Told About the Job Cuts at RSM US

[Updated with additional information.] Rumor had it that the hammer would be dropped on hundreds of RSM US employees on April 21. We can confirm that layoffs did occur on Tuesday in multiple offices, we don’t know how many people in total lost their jobs (but it wasn’t the 300 that was rumored), and from […]

RSM US Joins the Mandatory Work-From-Home Party

Today’s been one of the most crazy and, in my opinion, unprecedented days we’ve ever seen covering public accounting, where three of the Big 4 and a slew of other firms are ditching their U.S. offices and going strictly remote work for the time being because of COVID-19. A tipster let us know this evening […]

Hiring Watch ’20: Accounting Firms Rolling Out the Welcome Mat In Charlotte

Just wanted to give those of you in the Charlotte, NC area a quick heads up that a bunch of accounting firms in and around the Queen City are hiring this year, according to the Charlotte Business Journal. CBJ lists 13 firms that say they’ll be adding staff in 2020. Among those firms are: Aprio […]

RSM’s 6.9% Increase In Global Revenue For 2019 Seems Respectable

Revenue growth for RSM’s global network of firms over the past few years has been steady, if not unremarkable. From 2014 to 2018, global revenue increased an average of about 5.3% each year. But everything was on the up and up for RSM in 2019. Other than what’s in this infographic, RSM wasn’t too transparent […]

RSM’s Golf Tournament Is Being Upstaged By a Huge Capsized Cargo Ship

The RSM Classic, also known as “Joe Adams’ Annual Schmoozefest,” is going on right now at Sea Island Golf Club in Georgia. And unless you work for RSM, the saying “saving the best for last” doesn’t apply to this tournament, the finale of the 2019 PGA Tour season. Only one golfer in the top 20 […]

RSM Poaches Someone From KPMG and Issues a Press Release, Part I

Scott Wilson has more than 15 years of professional experience “helping businesses innovate, transform, and grow.” RSM US was in need of a new audit innovation leader. So it was a match made in heaven, or the cloud, or whatever. RSM US LLP (“RSM”) – the nation’s leading provider of audit, tax and consulting services […]

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) […]

RSM US Revenue Rose to $2.4 Billion In FY 2019

So says the RSM US 2019 annual report: That’s a 14% increase over the firm’s FY 2018 revenue of $2.14 billion. RSM’s fiscal year ends on April 30. There’s not a whole lot more to add because RSM doesn’t usually send out glitzy, congratulatory press releases on its year-end revenues like EY did today. But […]

RSM US’s $950,000 Fine Is a Reminder That Performing Non-Audit Services for Audit Clients Can Get You Into Trouble

You’d think a firm like RSM US would know this by now, but guess not. The Securities and Exchange Commission today charged public accounting firm RSM US LLP with violations of the agency’s auditor independence rules in connection with more than 100 audit reports involving at least 15 audit clients. Yes, auditor independence is a […]

Well, At Least RSM Plaza Won’t Have to Be Renamed

RSM US (the firm formerly known as McGladrey) will be sticking around RSM Plaza (the building formerly known as McGladrey Plaza) for a little while longer. Chicago-based RSM US LLP on Tuesday [July 16] announced that it’s renewed its lease at RSM Plaza in downtown Minneapolis. Though the building bears RSM’s name, it’s actually owned […]

RSM Did a Little Talent Shopping At the Big 4

And Adams & Co. came away with a new tax principal and a new risk consulting leader. First up is Brad Collins: In his role as a principal with the firm’s national tax team, Collins leads the firm’s efforts to identify opportunities where RSM can eliminate tax data management challenges for private equity and hedge […]

Armanino Poaches Someone From RSM and Issues a Press Release, Part I

While Armanino didn’t help its newest partner escape the clutches of a Big 4 firm, it did nab him away from a top five firm, which is still a pretty good get. Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., today announced Patrick Chylinski has joined the firm as […]

Hiring Watch ’19: RSM Planning to Add to Its KC Headcount

Not Kansas City, KS, but Kansas City, MO, where in July 2020, RSM will be moving into a swanky new office space currently being developed in Country Club Plaza. RSM will occupy all of the ninth floor and half of the 10th floor in the 14-story, 214,000-square-foot office tower that will be called 46 Penn […]

RSM Pulled In $5.37 Billion In Revenue Globally In 2018

This slipped through the cracks, but it might be of interest to a few of you RSM fanboys and fangirls. RSM posts record revenues as consulting services power growth. Click here to read more: https://t.co/5EJKaHBnBT#RsmGlobal #revenue #RSMae #People pic.twitter.com/Vym6mOuC9j — RSMae (@RSM_ae) January 31, 2019 The $5.37 billion in global revenue the firm hauled in […]

PCAOB Fined RSM US $15,000 for Taking Its Sweet-Ass Time to File a Form 3

Say a PCAOB-registered accounting firm is a defendant or respondent in an administrative or disciplinary proceeding that was initiated by another regulator. That firm has to let the PCAOB know about this by filing Form 3, Special Report, within 30 days after the event. The firm also has to let the PCAOB know that it […]

RSM Moving Its U.S. Headquarters Just Down the Road

Kinda big news this morning from RSM US: RSM’s new digs won’t be that far away from its current digs. The firm will be moving its headquarters from 1 S. Wacker Drive in Chicago to the 30 S. Wacker tower of the CME Center in late 2020 or early 2021. CME Center currently houses such […]

RSM US Revenue Topped $2 Billion in FY 2018

For those of you who keep close tabs on this stuff for some reason: The fifth-largest accounting firm in the United States in 2017 remains the fifth-largest accounting firm in the U.S. in 2018, as RSM US posted revenue of $2.14 billion for the fiscal year that ended April 30. RSM US’s 2018 revenue is […]

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 […]

accounting-who-wins-fight

Let’s Play a Game of ‘Who Would Win in a Fight’ Accounting Edition

As you may have heard, busy season is over for many miserable accountants across the country. If you failed to get that memo, it’s time to avert your eyes from that spreadsheet and get some sleep, you’re obviously brain-dead and completely disconnected from the real world. Sorry. Rather than wallow in busy season gone by, […]

Here’s Your Open Thread for RSM (fka McGladrey) Compensation Discussions (2016)

Early July is usually when compensation discussions start for the denizens of RSM, fka McGladrey, fka McGladrey & Pullen, fka RSM McGladrey (a division of H&R Block). Lo and behold, very early this morning, a tipster sent us a message: RSM comp thread? Partners begin communicating July 6th through 20th. Normally, we might wait awhile […]

Don’t Forget, McGladrey Will Be RSM on Monday

Earlier this year, McGladrey announced that they would be dropping the "McGladrey" from their name and adding "RSM." The new initials goes official on Monday across the globe so I imagine many partners will fling soon-to-be-obsolete letterhead in their hearths this weekend, watching with a mixture of pain and longing as the paper turns to […]

Oh, Shut Up

Stay out of it, golfer. @McGladrey strengthens position as trusted advisor to middle market leaders globally – to rebrand as RSM in October!” — Davis Love III (@Love3d) June 11, 2015 [Earlier]

McGladrey Latest Accounting Firm to Say, “Screw It, Let’s Just Go By Our Initials”

Yesterday, McGladrey announced they would become RSM. It was an inevitable move for a firm that has had a brand identity crisis over the years.   McGladrey LLP today announced it will adopt RSM as a common brand name, uniting with fellow firms of its global network RSM International to further strengthen the organization's position as the […]