The Most-Fined Big 4 Firm in the UK is Raising Audit Fees, Knows Clients Will Complain About It
Bloomberg reported today that KPMG UK CEO Jon Holt told them the firm plans to raise audit fees, news that comes on the same day we find out KPMG UK revenue increased 12% to £2.72 billion ($3.3 billion) for their fiscal year ending in September. Much of that did not come from audit however, deal […]
Big 4 Firms Condemn Russia’s Invasion of Ukraine, But Will They Sever Relationships With Any Russian Clients? (UPDATE)
[Updated with additional statement from Deloitte Global.] When Deloitte’s global HQ posted a statement on its website on March 1 (see below in original post from Tuesday), the firm said it had “suspended business operations and client service in Ukraine as we focus on taking care of our people and their loved ones.” But on […]
Lawsuit: Mattel Shareholders Are Holding PwC’s Feet to the Fire
Once the Wall Street Journal broke the story last November that Mattel’s finance team and PwC auditors reportedly buried an accounting error that affected the toy giant’s financial results toward the end of 2017, you knew there would be some fallout. First, Bloomberg followed the WSJ report by writing that the PCAOB would be investigating […]
Uh-Oh, PwC, You’ve Gotten the Attention of the PCAOB
Somebody at the PCAOB must have read the Wall Street Journal article last week about Mattel and its auditor PwC allegedly burying an accounting error tied to Mattel’s ownership of Thomas & Friends because everyone’s favorite mess of an audit regulator is reviewing PwC’s work, according to Bloomberg, and probably whether the firm broke any […]
PwC Probably Did Celebrate When It Helped Mattel Cover Up an Accounting Error
By now you guys have probably read the Wall Street Journal article yesterday that explains what Mattel and PwC did to bury accounting issues related to the value of the Thomas & Friends show for kids. If for some reason you’ve been too busy to surf the web or dick around on Reddit in the […]
One Deloitte Office Wants Staff To Have a Restful Holiday With Friends, Family, and the Client
We're feeling a strong sense of bitterness coming from the tip box today: I'm an audit senior at Deloitte & Touche and wanted to send along this lovely E-mail every Audit staff member [in my office] received this afternoon. Note that almost everyone has 10-20 learnings due Jan 4th that we were told to book […]