When accounting goes unaccounted for
Financial Times reported moments ago:
EY has called off the plan to break up its audit and consulting businesses after months of internal disagreement.
The decision is set to be communicated to partners in a note on Tuesday, said people with knowledge of the matter.
More to come shortly.
Great news Ernstiverse! If you didn’t have the pleasure of hearing it yesterday, Steve Howe, your Americas Area Managing Partner, announced that he “believes” that you’ll be back to pay increases this year, but he’ll let you know for sure as you get closer to the “salary adjustment date”. Sounds like a guarantee to us!
Plus! Being a general believer in resolutions (and noticing you haven’t don’t anything about that paunch), we heard that the firm will now reimburse “reasonable fitness fees incurred while traveling.”
No doubt Steve-o was in a good mood yesterday after seeing that E&Y was the highest ranking Big 4 firm on the F100BCTWF list and he felt like spreading more good news. In his mind, the title was never in doubt but it’s still nice to see the confirmation.
SH makes three accounting firm big shots to announce that happy times are here again in 2010. Along with soon-to-be blogger Stephen Chipman and the original shot-caller, Bob Moritz, the thawing of salaries might be gaining momentum.
The question does remain: will T Fly and Dr. Phil make similar announcements? Have they already? Are they saving it for a better time, say, mid-February when many of you will be close to losing your shit and are about to storm out once and for all? If they’ve made guarantees, kindly let us know, we’d like a superfecta if possible.
E&Y’s annual intern conference invaded Orlando yesterday and the ‘Berg had Director of Campus Recruiting, Dan Black on to discuss Gen Y and why they are pre-tay, pret-tay, pret-tay important to the future of the firm.
Despite their technology savviness, it appears that Gen Y is still relying on rock-paper-scissors as a key decision-making tool. Apparently, darts and jigsaw puzzles are important too.
Oh, and the time you put in as a line cook at Applebees’s in college really doesn’t translate into anything useful so don’t be too concerned about that.
The Big 4 firm behind the most boring TV ad during Super Bowl LV last […]
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LMFAO
Julie sent out an email to all US personnel about 15 minutes ago. bye-bye Carmine
Can someone please send it over so we can see it? editor@goingconcern.com
Carmine legacy
Not a surprise. When can we expect the going concern article about PWC “executives” galavanting around with Clarence Thomas and his billionaire buddy
Way to be that guy and bring politics into this. Moron.
His comment wasn’t political. It was judicial. A crooked judge who should never have been given a lifetime job and by all accounts the judge with the least judicial knowledge. That is until Kavanaugh and Coney Barrett got there
Love this UK partner’s comments (Anna Anthony). She must be an idiot. Deferred or delayed projects – so they will spend the $400 million – but what about the $600 million?!! EY’s UK firm is planning cost-cuts. Carmine must go as well – just looking to line his pockets ($10 million+) and CEO for the lucrative public consulting company – sorry Carmine, no dice!
Besides her, others heads need to roll; this will have a major impact on its culture for years to come (and with recruiting). “Never Mind” says the recruiters.
>>The firm spent $600 million and more than a year working on the split, executives said on internal webcasts on Wednesday. That tally includes $300 million of payments to a raft of top-tier investment banks and law firms and other outside costs, as well as $300 million of partner time and other costs within the firm. <>Anna Anthony, a senior executive at EY’s U.K. arm, played down the spending on a call with partners, saying the cost was offset by $400 million that EY saved on projects that were delayed or deferred because of the proposed split.<<