Accounting News Roundup: Moonlighting, Travel and Snap IPO | 01.31.17

By | 6 months ago

Moonlighting

One of the things we occasionally talk about around here is doing work outside of work. Although it’s extra “work” it’s a chance for anyone to do something outside of their day job, honing skills they might not use every day and, of course, make a little extra money. I imagine many accountants working a busy season are dismissive of the idea simply because they assume their firm would rather its people spent their idle hours billing another client. And generally, that’s probably right, but this Ed Mendlowitz column talks about having an open mind when it comes to moonlighting:

When I had my own practice and then became partners with others I felt it was important for staff to be able to moonlight if they wanted to, but that they could not if I made them work more than two nights a week. I also felt the moonlighting made them better. For openers, they would make mistakes on their own time and had to figure out how to do a better job. They also would get confidence dealing with clients, develop marketing skills and be more diligent keeping up to date on tax law changes, become procedure oriented, organize their time better, make sure they completed what was assigned to them so they did not get “stuck” working longer hours and be late to a private appointment.

Allowing employees who have non-accounting side gigs is a no-brainer. Even if the moonlighting gig was accounting-related, it still seems reasonable to let an employee have a business outside of work, as long as it avoids any direct conflicts. Employers who allow for these types of arrangements reduce the risk of this person taking another job where they might not have such a flexible situation. Firms don’t have a lot to lose in these situations…except maybe a decent employee.

Travel

Yesterday, we reported on PwC’s Tim Ryan speaking out — without a full condemnation — against the Trump Administration’s travel ban on immigrants from seven countries and now, this Bloomberg report has a few details on how Deloitte has responded:

At Deloitte, Chief Executive Officer Cathy Engelbert told employees that the company had identified 25 U.S.-based professionals who might be affected by Trump’s order and is encouraging them not to travel outside the nation. She also said “we have an important role in demonstrating our values — and Deloitte’s inclusive culture — by supporting those around us in every interaction at work, at home, with our clients and in our communities.”

It’s fair to say that the big accounting firms are taking a cue from Wall Street on how to approach the executive. That is, they are reassuring their employees but aren’t rebuking the immigrant ban, perhaps fearing a tirade from Trump. We’re keeping a look out for any statements from other notable firms, so if you see one, send it our way.

PwC’s GE thing

PwC is still enjoying the attention they’re getting for agreeing to bring 600+ General Electric tax people under its roof. Michael Rapoport and Vipal Monga report in the Wall Street Journal that the deal could pave the way for similar deals, including “co-sourcing” arrangements where the firm takes on a portion of its client’s work.

Previously, on Going Concern…

Tim Ryan’s comments on the immigrant ban.

In other news:

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