June 18, 2018

Deloitte

deloitte cyber attack

Here’s Your Open Thread for Deloitte Compensation Discussions (2017)

Apologies to all the Deloitte compensation junkies out there experiencing withdrawal symptoms. We received this tip awhile back and, judging by the timing, many of you are anxious to yak about what’s going on: The national call was today and comp talks with partners won’t be happening until after 8/17. The raises take effect in […]

kpmg china medical

Accounting News Roundup: Complicated Simplification; McLaren Dumps KPMG for Deloitte | 05.15.17

Accounting is complicated Here’s a New York Times column by William Cohan on FASB’s Accounting Standards Update 2016-01, aka “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities.” This rule, besides having an awful name, will change how fluctuations in equity investments valuations will be reported. My favorite sentence is this one: Like […]

Deloitte-employee-attempted-murder

Accounting News Roundup: Former Deloitte Employee Sentenced for Attempted Murder | 05.11.17

Accountants behaving badly Here’s a crazy story about a former Deloitte employee, Alan Fowler, who was convicted of the attempted murder of his former boss, Kevin Lane, and sentenced to 20 years in prison. Deloitte fired Fowler in 2015 after discovering that he used his company credit card to “pay for family vacations and buy […]

deloitte cyberattack

Accounting News Roundup: PCAOB Transparency and a Deloitte Cafeteria Accepts Bitcoin | 03.22.17

PCAOB transparency One of the biggest gripes about the PCAOB is that their disciplinary proceedings are conducted in secret until the matter is finalized. Senators Chuck Grassley (R-Iowa) and Jack Reed (D-R.I.) have introduced bills in the past that would make these hearings public, but they went nowhere. They reintroduced the bill just last week […]

deloitte-employee-maga-hat-happiest-hour

Deloitte Employee Suing Bar for Kicking Him Out Over His Ugly Hat

Someone call the fashion police. If there’s one thing sober minded people can agree on, it’s that “MAKE AMERICA GREAT AGAIN” hats are ugly. It’s a rope style cap that is solely fashionable at private golf clubs that only allow white, straight males as members. The hue of the classic MAGA cap is a hideous […]

Accounting News Roundup: Branding and Billionaires | 02.22.17

Branding Historically, naming an accounting firm hasn’t been difficult. You look at the people sitting with you at the table where you’re planning world domination and get everyone’s last name. Then you shuffle those 2 or 3 or 4 names into an order that sounds most pleasant. Perhaps you add “& Co.” or “CPAs” on […]

Accounting News Roundup: Deloitte Spies, Stock-based Comp and an SEC Chair Contender | 12.20.16

Deloitte spies Here's a fun story from CNBC reporter Eamon Javers on an espionage group inside Deloitte that helped gather information on Bearing Point, the old KPMG Consulting spinoff. The story says the group was "generally known as the competitive intelligence unit" and was led by a former CIA guy named Gordon "Gordy" Welch. Essentially, […]

Deloitte’s Dutch Firm Takes Its Turn With PCAOB

The PCAOB has announced another settlement with a Deloitte firm today, this time the Dutch version. This relates to an independence snafu that happened back in May of 2012 when the new CEO, Piet Hein Meeter, resigned abruptly, after serving in that role for just a few months. Here's Michael Rapoport's report in the Wall […]

Deloitte’s Brazil Firm Covered Up a Couple of Bad Audits

The big news in the international audit firm world today is an announcement by the PCAOB that Deloitte’s Brazil firm audited badly and then covered up that bad auditing, which is also bad. The whole thing involved a dozen auditors including the Brazil firm’s former Audit Practice Leader, former Risk and Reputation Leader and former […]

Layoffs Watch: Deloitte Business Tax Services

Here's some not-so-fun news that popped up on Reddit earlier with regard to Deloitte telling some tax people that their services are no longer needed: Couple dozen in Chicago, and many more in the local practice offices. Staff to Senior Manager, no-one is insulated. The OP states further, "Hearing rumors that it will be a […]