Tag: Rumors

Rumor Mill: More E&Y Partner Slip-Ups

Does anyone want a job helping socially awkward partners at E&Y? After last week’s inappropriate ice-breaker rumor, we received another tip about a partner leaving a sensitive voicemail with all employees in the region:

The voice mail says this is for partners only and then discusses the new model EY will be using to determine the # of admin staff in an office and gives the date when admin cuts will happen. Also talks about how all partners will be required to do a mid year review in Jan 2009 (by the way, we all heard the partners saying later how this had never been done in the past so clearly it was papering the files for upcoming partner cuts).

According to the tip we received, the partner decided that leaving another voicemail, asking all non-partners to delete the first message, was the next logical course of action. On the one hand, assuming that all E&Y employees would abide by the honor system and delete the first message represents the strong faith this partner had in their employees.
On the other, it may have been just as effective to say “Don’t worry about that last message, I was just fucking with you.”

Rumor Mill: E&Y CEO Jim Turley Is Appropriately Compensated

Thumbnail image for jim turley2.jpgMaybe! Depends on who you ask. We’re looking for opinions since we received a tip on what Jim Turley is pulling down:

Saw some info yesterday in a partner’s office. JDawg is pulling down $6 million…every year in October timeframe the partners at EY get a partner report on the “partner news network”. In this report EY shows partner information – the 5 highest paid US partners that are not in client service. So this includes generally JDawg, the AABS managing partner, tax managing partner, the Americas Vice Chair and a few other vice chairs. They started giving out this information about 4-5 years ago.

Our tip also stated that the non-J Dawg execs were pulling down in the nabe of $2.5 million.
Considering that J Dawg’s CEO duties include appearances on CNBC, being an IFRS cheerleader and eating f*(king chicken with Rahm, among other glad-handing and back-slapping duties, $6 mil makes for a nice round number.
Is $6 million fair for J Dawg? Discuss in the comments and pass along any further details you’ve got JT or other CEO salaries.

Rumor Mill: KPMG Wants to Make Sure New Associates Are Comfortable

As if there isn’t enough bad blood in the land of Klynveld, we received this tip:

Not only did the firm spend thousands of dollars to send new hires to Rome, they also gave then [sic] all single rooms. Roomates [sic] are required for all staff level people at firmwide trainings.

We looked around and depending on when these new associates were in Rome, it may have been god-awful hot, so it couldn’t have been that great of a trip. Then again, we’re not familiar with this whole Italian get away so if you’ve got details, discuss in the comments or shoot them to us.

Rumor Mill: KPMG Layoff Started Early in Philly

Not that Klynveldians need reminded but tomorrow is the rumored next round of layoffs. This time its rumored to be the tax practice and perhaps the advisory practice as well making cuts.
Someone in the Philadelphia office got their call earlier than planned according to a tip we received:

…one associate who received a phone call at 3:00 PM letting her know that her services were no longer needed. She was initially told this would likely happen on the 21st, but for some reason, the powers that be thought it more appropriate to call someone on the 15th

If you’ve got details on your office or if you have received a request for a meeting, let us know and we’ll continue to update you as we hear more.

Rumor Mill: KPMG Layoff D Days

A little follow-up from our request for the latest on highly anticipated post-September 15th layoffs. Here’s what we’re hearing:
Sources and some comments have indicated that the dates to be wary of are today the 16th, tomorrow the 17th, next Monday the 21st, and next Tuesday the 22nd. The word is that these will be tax and advisory practice cuts only.
KPMG did not immediately respond to our request for comment on these dates. If you have specific information on your anything going down at your office send us the scoop at tips@goingconcern.com.

Rumor of the Day: KPMG Layoffs in Dallas Next Week

As if you didn’t need another excuse to go on a three day bender, we received a tip that audit professionals will be getting laid off at the Dallas Radio Station next Tuesday, the 18th. Tax professionals will get their turn in September, most likely after the filing deadline.
Word is that no one level is safe as the cuts will be made at all levels including partners.
KPMG did not immediately respond to our request for declined to comment.
If you’ve got more information on the sitch or you’ve heard similar rumors for other offices, drop us a line at tips@goingconcern.com.

National Training Lore

cheers!.jpgA few weeks back we dabbled into the sex lives of those of you that call yourselves accountants. Several comments eluded alluded that national trainings are about as a good opportunity as some of you are going to get.
National trainings are not only a great time to make awkward sexual advances, they’re also a great opportunity to get together with hundreds of your peers and drunkenly complain about your superiors and subordinates. It’s also an opportunity to make a complete ass out of yourself in front of those same peers.
National trainings have also been known for chicanery such as but not exclusive to:
Check out the idiocy, after the jump


• All night excursions to the strip club where one person passes out in the bathroom and somehow the whole night ends up on your manager’s expense report.
• A night of bottle service that results in dragging several lifeless bodies back to the hotel but thanks to some friendly hotel staff, everyone ends up safely back in their rooms.
• Training Instructors showing up to class over an hour late, wearing clothes from the previous day and smelling like Mel Gibson.
• A week where, instead of spending your time learning accounting/tax/audit updates, you spend the entire week in your hotel room working a normal 12 to 14 hour day because your manager’s whip somehow has the range.
So because summer is winding down and national trainings are coming to end for another year, we’d like some stories to order to get an idea of how good/bad/ugly your trainings this year.
We’ve heard that some firms have shortened some of the trainings to just a few days rather than a full week and also that the firms are seriously clamping down on the expenses so maybe your city’s blowout party got axed or you got charged back for the round of shots you bought for everyone. Regardless share your experiences in the comments and send us other gossip that you want us to put up at tips@goingconcern.com.

Rumor of the Morning: Tax Layoffs to Come After Filing Deadlines?

Over the weekend we received an email that basically confirmed our suspicions that many of you were working over the weekend. Considering the time of year, it doesn’t come as much of a surprise that hours are starting to pile up and you’re spending at least one hour a night deciding where you’re ordering take out from.
We received word over the weekend that tax groups at KPMG PwC all the major firms are working like crazy already in anticipation for the September 15th and October 15th filing deadlines.
There have also been whispers among some in the tax practice at KPMG that layoffs may occur after the deadlines due to large number of idle hands that will be around after the deadlines pass.
Tax associates out there, let’s know what your hours have been, what you’re hearing about post-deadline layoffs, and where you don’t want to get take out from ever again.

Rumor of the Day: All Big 4 Firms Freezing and/or Cutting Pay?

We’ve heard some rumors that all the firms are giving serious consideration to freezing pay this year and possibly pay cuts in the Northeast and Mid-Atlantic regions. This would follow the Radio Station rumors that we mentioned last week.
Top performers and promotees, determined by God knows how, may be getting bumps but we haven’t heard anything definite. If you’ve got some deets or just more rumors, shoot us an email to tips@goingconcern.com.

Subtlety Not a Strong Suit for Some Deloitte Aussies

DTa.jpgRumor out of Deloitte down-under, where, supposedly, some associates got canned because of organizing drug deals on Big D’s premises. Details are pretty scarce but this got us thinking:
More, after the jump


1. They were probably tax associates. They’re an unassuming bunch.
2. Is the pay so bad in Australia that Big D associates are resorting to illegal means of earning supplemental income? Wouldn’t turning tricks be easier?
3. How in God’s holy name did these f’n amateurs get busted? We’re they walking around soliciting potential customers like they were at a Phish concert?
We reached out to a Deloitte spokesperson who said they won’t comment on rumors. If you hear of other extracurricular activities going on at any of the firms, shoot us the scoop at tips@goingconcern.com