There’s something in the air and it isn’t ripe armpits in the audit room.
The natives are restless pic.twitter.com/F21X8uzzI3
— Going Concern (@going_concern) June 12, 2024
Lifted from Reddit here.
This isn’t about one particular firm — though individual firms are doing a great job shattering trust among their own people in recent weeks (see: PwC, GT) — rather, it’s about how all of this looks to students, people in the first few years of their career, and the public. For a profession that’s supposedly super stable even in economic downturns, things sure aren’t looking very stable right now.
Something else of interest I saw on Twitter:
More thoughts on Private Equity (PE) and Public Accounting firms.
— Mike Sylvester, CPA (@MikeSyl36625988) June 14, 2024
The Grant Thorton private equity (PE) deal closed on 5/31/2024. New Mountain Capital LLC is the PE firm.
As usual, the auditing practice was spun off.
Prior to purchase, Grant Thorton was the 7th largest…
Why does it feel like something really bad is about to happen?
