Here Is More Proof That EY Switzerland Is a Total Frat House

Well, guys, we learned today that at an EY Switzerland holiday party a few years ago, Santa Claus got an erotic lap dance on stage in front of about 200 people. And the man dressed like jolly ol’ Saint Nick is a partner in the firm’s banking practice, and the woman grinding on his lap […]

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Deloitte’s 2017 PCAOB Inspection Report Is Pretty Not Shitty

You know, when I sat down to start writing this, I contemplated some clever headline, perhaps something about a veritable smorgasbord of audit screw-ups, but then I was like, you know what, nah. We should recognize that Deloitte has posted its lowest audit deficiency rate ever, which is something worth applauding even if the fuck-up rate […]

Ex-Dallas Cop Who Killed PwC Accountant Botham Jean Comes Out of Hiding

Amber Guyger, the former Dallas police officer who was indicted on a murder charge late last year for fatally shooting PwC Associate Botham Jean in his apartment in early September, appeared at a Dallas County courthouse on Jan. 8, where a judge issued a gag order preventing attorneys from speaking publicly about the case. According […]

KPMG’s Logo May or May Not Give You Heartburn

Is KPMG’s new marketing plan for 2019 to have its people and distinguished guests at conferences devour the firm’s logo? Great morning of education at the Annual KPMG Board Leadership Conference. Plus a fun little treat at lunch. pic.twitter.com/xtthJyFWKr — philipsmith (@PRS2) January 8, 2019   Our cupcake overfloweth…. celebrating our new office space in […]

2019 Tax Season Finally Gets a Start Date

After Trump administration officials said on Jan. 7 that the IRS would send out tax refunds during the partial government shutdown, the agency took to Twitter last night to announce the start date for the 2019 tax-filing season: #IRS confirms it will begin processing tax returns on Jan. 28, 2019 and issuerefunds as planned. See […]

accounting vs advisory

3 Reasons Why Accountants Should Move to an Advisory Job

Today’s businesses are increasingly looking to their accounting firms for services beyond accounting, auditing, and compliance. They want a true advisor—someone to help guide their financial future and evaluate all different types of transactions. This has created an opportunity for today’s accountants, one that some will find alluring, provocative, and potentially lucrative. But for many, […]

New Year’s Eve Was Kind of a Bummer for Hertz

Man, I hope executives at Hertz got shitfaced on New Year’s Eve, because being told the company has to pay a $16 million civil penalty to the Securities and Exchange Commission to settle a case involving numerous accounting violations is not a stellar way to end 2018/begin 2019. An SEC cease-and-desist order filed on Dec. […]

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Here Are Some Tips on Having a Less Crappy CPA Exam Experience at Prometric From a (Probably Legit) Prometric Employee

A short while back, one brave soul (ThrowAway20112348) presented themselves as a Prometric employee on Reddit and shared some insight, tips, and rules for U.S. testing centers. The universe thanks you, friend to CPA exam candidates. Now, I’d like to share the love by recapping their message from the great testing center beyond. In their […]

SEC Got All Grinchy on Crowe, Four Partners for Bad Banana of an Audit

We interrupt your Christmas Eve merriment to bring you this press release from the Securities and Exchange Commission, which on Dec. 21 announced not-so-glad tidings about Crowe LLP’s audit team: The Securities and Exchange Commission today filed settled charges against national audit firm Crowe LLP, two of its partners, and two partners of a now-defunct audit […]

Patisserie Holdings Said It Was Hiring an Audit Firm That No Longer Exists to Replace Grant Thornton U.K. as Auditor

It’s the Friday before Christmas, and when you have a bad case of holiday brain, sometimes mistakes can happen. Sometimes these mistakes can be hilarious. Like this one from Patisserie Holdings, parent company of U.K. coffeehouse chain Patisserie Valerie: Patisserie Valerie mistakenly says it has named RSM Tenon as its new auditor… RSM Tenon collapsed […]

Sorry, Public Companies, the FASB Isn’t Giving You Any More Time to Get Your Shit Together on Lease Accounting

The chairman of the Financial Accounting Standards Board crushed any hopes public companies might have that the FASB would delay the Jan. 1, 2019, start date for its new lease accounting standard. At #AICPA conference, FASB Chairman Russ Golden is asked: Considering system challenges, new guidance, auditor concerns about #internalcontrols, will #FASB delay #leases standard? […]

EY Switzerland Suspends Chief Talent Officer Accused of Sexual Harassment

The chief talent officer at EY Switzerland was suspended by the firm today pending an independent investigation into sexual harassment allegations made by a former EY female associate, who claims the male executive made inappropriate comments about her breasts, made sexual advances toward her, and then bullied her when she rejected him, according to published […]

KPMG Reports Global Revenue of $29 Billion for FY 2018

Back in early October, the Going Concern prognostication team (me, Adrienne, and three people eating lunch at Panda Express) predicted that KPMG’s global revenue for fiscal year 2018 would be $28.1 billion. With word today that KPMG reported global revenue of $28.96 billion for the fiscal year that ended on Sept. 30, 2018, we were […]

KPMG Got Down on Its Knees and Begged South Africa for Forgiveness

South Africa, KPMG is sorry. Sorry for doing work for the billionaire Gupta family, who has been accused of using their links to former South Africa president Jacob Zuma to influence government decisions and the awarding of government contracts. Sorry for making severe auditing mistakes that led to the collapse of VBS Mutual Bank, in […]

Crowe Admits 24 New Partners and Principals

No, the amount of new partners and principals elected by Crowe LLP wasn’t 26—the number worn by former Nashville Predators rugged left winger Phil Crowe. But the firm will be giving 24 professionals a seat at the big kids’ table come April 1, 2019. The 2018 new partner and principal class at the top 10 […]

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BDO’s Global Revenue Hit $9 Billion Mark in 2018

We could have been dicks and not rounded $8.99 billion up to $9 billion, but we decided to be nice. From BDO worldwide headquarters in Brussels on Dec. 11: BDO, one of the world’s leading global networks of independent public accounting firms, has announced that worldwide revenue for all BDO Member Firms (including the exclusive members […]

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Deloitte U.K. Fired 20 Partners for Being Scumbags

Over the past four years, Deloitte U.K. has gotten rid of about 20 partners for inappropriate behavior, including sexual harassment and bullying, the firm’s CEO, David Sproul, told the Financial Times in an article published on Dec. 9. “We will fire people for any inappropriate behaviour. No one is protected,” said David Sproul. “There has […]

What Do Y’All Think of Baker Tilly’s New Logo and Tagline?

The Baker Tilly bird is gone: CHICAGO (Dec. 3, 2018) – Leading advisory, tax and assurance firm Baker Tilly Virchow Krause, LLP (Baker Tilly) today announced a refreshed brand identity with fellow Baker Tilly International network firms to demonstrate the network’s global strength and capability. Baker Tilly’s brand positioning, Now, for tomorrow captures the firm’s commitment to great […]

NASCAR Needs Deloitte’s Help

Saw this come across my Twitter timeline the other day: ⚡@NASCAR has hired @Deloitte to audit teams’ finances and create a common accounting platform, per sources. ➖ Teams agreed to the unprecedented step to help find a new competitive balance framework and determine if a budget cap will be introduced. 📰: https://t.co/k3NVwsvQx3 pic.twitter.com/eWUpQW43X6 — Adam […]

Federal Judge Sides with KPMG in Gender Discrimination Lawsuit

KPMG scored a huge victory in court on Nov. 30, as a New York federal court judge declined to certify a long-running class-action lawsuit by thousands of current and former female KPMG tax and advisory professionals who accused the firm of gender, pay, and promotion discrimination dating back to 2008. While the ruling bars the […]

The IRS’s First Instagram Post Was of … Flamingos

Are you guys following the IRS’s new Instagram page? Yeah, me neither. But we’re not 18 to 24 years old—the age group the agency is trying to target with its newest social media account. Since it launched on Nov. 30, the IRS currently has 2,478 Instagram followers, who will find tax tips and information in […]

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Mark Weinberger Is Done Being EY Global Chairman and CEO

Last night we were tipped off about a major announcement happening at EY this week, and we have received official confirmation of said announcement today by the firm: Mark Weinberger is stepping down as global chairman and CEO effective June 30, 2019. EY confirmed what our source told us, that Weinberger told the firm’s leadership […]

Female KPMG Employees Seek Class Status in Gender Discrimination Lawsuit, Detail Alleged Sexual Misconduct at the Firm

There was a new development yesterday in the long-running gender bias lawsuit against KPMG, in which a group of current and former female advisory and tax professionals have accused the firm of gender, pay, and promotion discrimination, as well as condoning sexual harassment. Attorneys representing the plaintiffs filed a motion on Nov. 27 that asked […]

diversity in accounting

The Advantages of Being an Accountant at a ‘Best Employer for Diversity’

Around the country, companies are making concerted efforts to diversify their workforces across physical ability, ethnicity, sexual orientation, gender, and age. But many businesses aren’t limiting their diversity efforts to simply hiring more minorities. They’re striving to change the culture, creating workplaces where all employees feel valued and safe, and everyone can compete for promotions, […]

Apparently BDO and Moore Stephens Are Gonna Hook Up

The days of Grant Thornton being the fifth-largest accounting firm in the United Kingdom appear to be numbered, as Moore Stephens, a top 10 firm in the U.K., is reportedly getting into bed with BDO, the sixth-largest U.K. firm. The Times in London wrote yesterday: BDO, the accountancy and business advisory firm, has confirmed that […]

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Here Is Your New Favorite Excel Channel

So even though everyone and literally their mother have off, The Powers That Be insisted we publish a post today for the four of you weirdos reading accounting news on a holiday. Fine. I’ll comply as I don’t want to get fired from this stupid website again but only going so far as to share […]

KPMG Is Thankful for SOX

I was kinda wondering about this myself, but I figured the answer would be no. From Tammy Whitehouse of Compliance Week: KPMG is under fire in the U.K. for diminishing audit performance, particularly in connection with the collapse of British construction firm Carillion. The firm has reportedly advised its partners internally that it would halt all […]

Deloitte, CPA Get Taken to the Woodshed in Hong Kong

The Hong Kong Institute of CPAs doled out some fines on Nov. 13 to Deloitte Touche Tohmatsu and a Deloitte CPA for making some auditing faux pas. The firm and accountant Lee Po Chi each have to pony up $50,000 HKD ($6,384 USD) “for their failure or neglect to observe, maintain or otherwise apply professional […]

Grant Thornton U.K. Gets a New CEO

Good morning/afternooon, gang. We have some news to share from across the pond, as Grant Thornton has appointed a new CEO to replace Sacha Romanovitch. We are pleased to announce that Dave Dunckley has been ratified as our new CEO elect. His focus will be to create an organisation which powerfully connects a clear social […]

KPMG Adds Another Independent Warm Body to Its Board of Directors

KPMG has given retired Air Force General Janet Wolfenbarger a friend on its board of directors. KPMG LLP, the U.S. audit, tax and advisory firm, is pleased to announce the appointment of Linda L. Addison as an independent director to its U.S. Board of Directors. Addison is the second distinguished independent director the Firm has […]

KPMG Gets One-Year Auditing Ban in Oman

2018 has been a no-good, rotten year for KPMG. The firm has been embroiled in accounting scandals in the United States and South Africa, was told by the United Kingdom’s accounting regulator that its audit quality sucks, defended an indefensible audit of the now-collapsed Carillion in the U.K., was fined £4.5 million in the U.K. […]

The IRS Is Your Gross, Hairy Uncle Who Burps and Farts a Lot

Imagine sitting at a table with your family and closest friends enjoying the perfect Thanksgiving feast. The turkey is cooked to perfection, the ham is tender and juicy, the mashed potatoes are creamy and the gravy is smooth, the stuffing is savory, and the cranberries are tangy. Even the green bean casserole doesn’t make you […]

Hey, We Finally Found Something That EY Is Actually Good At

And that something is … cricket. Ernst & Young (EY) Oman has won the Auditors Cricket Tournament (Inter Audit firms) concluded recently. This is the fourth consecutive time that EY has won the Auditors Cricket Cup. Yes, the Auditors Cricket Cup is a thing. And the EY squadron really took it to the competition this […]

RSM US Revenue Topped $2 Billion in FY 2018

For those of you who keep close tabs on this stuff for some reason: The fifth-largest accounting firm in the United States in 2017 remains the fifth-largest accounting firm in the U.S. in 2018, as RSM US posted revenue of $2.14 billion for the fiscal year that ended April 30. RSM US’s 2018 revenue is […]

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The AICPA Has Gone Full Doobie-Smoking, Conspiracy Theorist Wackjob

As some of you may know, I love a good conspiracy. I love getting lost in bizarre corners of YouTube populated with bad Movie Maker “documentaries” about government experiments gone awry, celebrity cloning programs, and CIA mind control. I draw the line at lizard people; lizard people are just stupid. Obviously I realize most of these are […]

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AICPA Announces 2019 CPA Exam Score Release Dates

Alright, kids, it’s the moment you’ve been waiting for. 2019 CPA exam score release dates are not only out (they’ve actually been out for a hot minute) but have been announced by the AICPA, meaning they’re probably pretty much set. By “set,” I of course mean as set as they possibly can be. The AICPA […]

DePaul University - Artificial Intelligence article

Should Accountants Be Worried About Artificial Intelligence?

Financial disciplines have long been the first thought-of areas where technology like artificial intelligence will cause dramatic disruption and upend entire ways of thinking. Accountancy is certainly no different from others in the finance umbrella, and we continue to see headlines explaining Why Artificial Intelligence is the Future of Accounting.  In many ways, the AI […]

Let’s Just Accept the Truth That Open Offices Were a Dumb Idea

Open offices haven’t been around nearly as long as the “open concept” home, but many office dwellers have complained about them from the beginning. For accounting firms in particular, the open office concept is pretty much the worst possible environment to stick a bunch of introverts into under some misguided belief it will increase “collaboration” […]

2019 Accounting Internship Programs, Ranked

Ah, internships: where bright-eyed, eager, budding capital market servants get their first taste of the hell that is a career in public accounting. But which accounting internship programs are the most popular among college students? Our friends at Vault have the answer. Vault recently released its top internship program rankings for 2019 in a bunch […]

MAC new jobs

How Deep Accounting Skills Can Help You Unlock Cool New Jobs

There’s a lot of upside to adding deep accounting knowledge and skills to your resume—impressive credentials, prospects for higher pay, and a chance to take your career to the next level, among other positive career boosts. If you already have solid work experience and have developed expertise in certain areas, adding accounting knowledge—and a Master […]

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Deloitte Mexico Auditors Attempt to Phone in Sloppy Audit Work, Fail

The PCAOB has barred, fined, and censured three Deloitte Mexico audit partners for their role in the absolute bamboozle of an audit on Prestaciones Finmart, a Mexican subsidiary of Texas-based EZCORP, Inc. Finmart accounted in FY 2013 and FY 2014 for approximately 21% and 26% of EZCORP’s consolidated assets and approximately 23% and 42% of […]