Big 4 Calling On All Blockchain Nerds to Come Nerd Out At Their Firms

From CoinDesk: “Big Four” professional consulting firms Deloitte, KPMG and EY are all in the top five when it comes to posting blockchain job ads, according to new data from Indeed.com. The employment site released its latest figures for job postings relating to blockchain, cryptocurrency and bitcoin in the U.S. on Thursday, with the data covering […]

Frog

Busy Season Zen: These Baby Frogs

As we crawl toward the end of busy season 2019, it’s important to remember just how unimportant you are in the scheme of things. I mean, out of billions of human beings on the planet you are but one speck, a cog in an invisible machine. Sorry, was that too deep? Let’s get back to […]

Young woman studying

The Definitive Guide to Choosing a CPA Review Course

I’ve been writing about the CPA exam for, yeesh, it’ll be 12 years this summer. TWELVE YEARS. I wish I could say that’s like half my life, but I’m old now so it’s more like a third of it, which is still a pretty sizable chunk of it, all things considered. In that time, I’ve […]

Thief

PwC Embroiled In Massive Office-Wide Theft Scandal

People who aren’t accountants no doubt believe accounting to be one of the most trustworthy professions out there, second only to Buddhist monkistry, the clergy (in most cases, anyway), and professional seeing-eye dogging. However, despite being bound by a strict code of ethics under their respective professional licensing bodies, as well as their own rigid […]

RSM Pulled In $5.37 Billion In Revenue Globally In 2018

This slipped through the cracks, but it might be of interest to a few of you RSM fanboys and fangirls. RSM posts record revenues as consulting services power growth. Click here to read more: https://t.co/5EJKaHBnBT#RsmGlobal #revenue #RSMae #People pic.twitter.com/Vym6mOuC9j — RSMae (@RSM_ae) January 31, 2019 The $5.37 billion in global revenue the firm hauled in […]

Going Concern March Madness: Ultimate Tech Showdown

Once upon a time, our former dear leader Caleb — who is not exactly known as the pinnacle of red-blooded, sports-loving American male — got the bright idea to gift the accounting profession with its very own March Madness competition. Although it was wildly popular those first two years, it also ended in embarrassment for […]

Bundled up pug

Busy Season Zen: Dis Fluff

I really hope y’all are prepared for today’s zen, as it might be the cutest thing you’ll see all week. Well, all day for sure. Hell, you probably haven’t seen anything so cute ever in your life, especially given that you’re wasting so much of it rotting away in a cube farm waiting for the […]

Tim Ryan Crunches More Than Just Numbers

A couple hours ago, as I’m putting together today’s newsletter, Adrienne and I got a text from Caleb that said, “Tim Ryan does 1,200 sit-ups in a day? Holy shit.” I thought, “What the hell is he talking about?” So, I Googled “Tim Ryan PwC sit-ups,” and sure enough, a March 13 Wall Street Journal […]

accounting firm timesheet

4 Reasons the Accounting Firm Timesheet Must Evolve in 2019

It’s 4:45 on a Friday afternoon at Accounting Firm, USA. Fee earners are itching to start their weekends, but one final task remains. Before the happy hour beer taps can flow, before elated dogs (and disinterested cats) can greet their returning owners home, before the family can pile into the minivan and head out to […]

PwC Settles with FDIC for $335 Million Over Colonial Bank’s Epic Collapse

Well, this was some news I really wasn’t expecting today. FDIC as Receiver for Colonial Bank, Montgomery, AL, reached a $335 million settlement with PricewaterhouseCoopers LLP related to professional negligence claims. Colonial Bank failed on August 14, 2009. https://t.co/W2ohFNCvRe — FDIC Gov (@FDICgov) March 15, 2019 Here is the full statement from the FDIC: The […]

Confused woman

Busy Season Zen: Whatever the Hell Is Happening Here

You know, I debated posting this as a Busy Season Zen as it’s less zen and more… I don’t even know. But I figure at this stage in the game, you could use a break or at least be reminded that there’s a big, weird, wonderful world out there beyond your cubicle. Yeah, let’s go […]

Auditor Swap: Fitbit Dumps PwC In Favor of Grant Thornton

The Purple Rose of Chicago just got itself a new engagement. Via Reuters: Wearable device maker Fitbit Inc has dismissed auditor PricewaterhouseCoopers LLP after a review of its fees and appointed Grant Thornton LLP, the company said in a regulatory filing on Thursday. The filing states that Fitbit chose not to renew its engagement with PwC […]

No One Seems to Care That Deloitte Named Joe Ucuzoglu CEO

Is it me or does there seem to be absolutely no buzz about Joe Ucuzoglu being elected as the new CEO of Deloitte? Is it because people are still talking about yesterday’s guilty verdict in the trial of former KPMG partner David Middendorf? Or maybe because we’ve known unofficially since December that Ucuzoglu was going […]

Wisconsin CPA Who Fatally Struck Illinois State Trooper with His Car Pleads Not Guilty to Reckless Homicide

Scott Larsen appeared in a Skokie, Ill. courtroom on March 11, where the Wisconsin accountant pleaded not guilty to felony reckless homicide charges in the January death of Illinois State Trooper Christopher Lambert. According to a Chicago Tribune report, Larsen, 61, also pleaded not guilty to violating Scott’s Law, which increases potential penalties for motorists […]

Ex-KPMG Partner’s Fraud Trial: David Middendorf and Jeffrey Wada GUILTY!

A Manhattan jury on Monday convicted former KPMG partner David Middendorf and former Public Company Accounting Oversight Board staffer Jeffrey Wada for their roles in one of the biggest accounting scandals in recent years. Law360 court reporter Jack Newsham broke the news on Twitter earlier this afternoon: BREAK – Middendorf, Wada convicted on all but […]

A List of Prominent Accounting Incompetence

In this age of pervasive unavoidable media, everyone has a platform, a handle, a persona, a BRAND. Or at least they want to. The reality is that no one gives a shit about your brand or your proprietary hashtag that is 50 million light-years away from trending. It’s bleak to think about, but the truth […]

KPMG Appeals One-Year Auditing Suspension In Oman, Loses

KPMG couldn’t talk its way out of trouble, as an independent appellate court in Oman recently upheld a securities regulator’s ruling last November that prohibits the firm from taking on any new auditing clients for one year. In a statement on March 3, the Capital Market Authority of the Sultanate of Oman said: “Capital Market […]

VW Golf wrap

Busy Season Zen: This Car Wrap

Well, it’s Friday so you know what that means, time for another edition of Busy Season Zen. I scoured the Interwebs to bring you a quality video today, one that doesn’t involve baby doggos or kitties or children because sometimes the whole “it’s cute because it’s a baby” thing gets old. It’s a true shame […]

Compensation Watch ’19: Credentialed Accountants vs. Non-credentialed Accountants

In its annual salary survey, the Institute of Management Accountants always includes a section comparing compensation for accountants who are either CPAs, CMAs (Certified Management Accountants), or both with accountants who hold neither credential. And every year the IMA finds that credentialed accountants make more money than those without a CPA or CMA. Makes sense. […]

Ex-KPMG Partner’s Fraud Trial: David Middendorf Takes the Stand

Law360 court reporter Jack Newsham wrote on Feb. 28 that it could happen this week, and he was right: Former KPMG partner David Middendorf took the stand this afternoon to testify in his own defense. MIDDENDORF TAKES THE STAND — Jack Newsham (@TheNewsHam) March 4, 2019 Authorities have said that Middendorf and four of his […]

Woman Who Once Called Ex-U.K. Foreign Secretary Boris Johnson a ‘National Embarrassment’ Is the New Chair of Deloitte’s Global Board

Deloitte announced today that Sharon Thorne, deputy CEO and managing partner of global and strategy for Deloitte North West Europe, will become chair of the Deloitte Global Board of Directors beginning in June. She will be the first woman to hold that position with Deloitte. Thorne, who joined Deloitte U.K. in 1986, will succeed David […]

Mr Rogers

Busy Season Zen: Won’t You Be My Neighbor?

Remember when you were a kid and you couldn’t wait to grow up so you could eat candy for dinner and stay up as late as you want? And then you actually became an adult and realized you’re so tired from the never-ending rat race that you can’t wait to take a nap and refresh […]

Now Your Kids Will Get to See How Cartoony Deloitte Really Is

Through the years on this here website we’ve reported on things that were said or done at Deloitte that might be considered cartoonish. Like when Deloitte Global CEO Punit Renjen claimed Deloitte is harder to get into than Harvard. Or Penn. Then there was that time when Deloitte offered prizes to alumni and retired partners […]

Compensation Watch ’19: Internal Auditors

Ah, internal auditors. The “guardians of trust,” as Institute of Internal Auditors President and CEO Richard Chambers likes to call you. So how much money do “guardians of trust” make these days? Let’s take a look at the latest salary data from Randstad, Robert Half, and Accounting Principals. Randstad Randstad organizes non-executive accounting and finance […]

RSM Moving Its U.S. Headquarters Just Down the Road

Kinda big news this morning from RSM US: RSM’s new digs won’t be that far away from its current digs. The firm will be moving its headquarters from 1 S. Wacker Drive in Chicago to the 30 S. Wacker tower of the CME Center in late 2020 or early 2021. CME Center currently houses such […]

simulated toothpaste

Busy Season Zen: These Hypnotic 3D Animations

Hello and welcome back to another Friday edition of Busy Season Zen. The good news is it’s Friday, the bad news is it’s still busy season. Hopefully you’re taking care of yourself with good nutrition, rest when possible, and a bath or two when the mood strikes. More likely, however, you’re performing your own personal […]

Ex-KPMG Partner’s Fraud Trial: Brian Sweet Takes the Stand

The trial of ex-KPMG partner David Middendorf keeps rolling along, as prosecutors on Feb. 19 called on one of the major players in the scheme to steal secret audit inspection information from the Public Company Accounting Oversight Board to testify against Middendorf. Brian Sweet, a former associate director at the PCAOB who later became a […]

Compensation Watch ’19: CFOs

Some of you grinding away in public accounting might have “champagne wishes and caviar dreams” of being a CFO one day. So, let’s see how well that job pays these days, courtesy of three accounting and finance salary guides that have been released in the past six months. Randstad Randstad organizes executive titles in its […]

Soap

Busy Season Zen: Soap Cutting

I’m not even entirely sure what this ASMR thing is, beyond over-sexualized little kids whispering creepily and people running over Tide Pods. Apparently this is supposed to be satisfying to some people? OK. Back in my day, we just smoked weed and played GTA like normal people to unwind. Kids these days, I swear. Anyhoo… […]

PwC Italy Partner Is Probably In a Lot of Trouble, You Guys

So, there was this accounting scandal in early 2017 at the Italian unit of British phone company BT, in which nearly two dozen people at BT Global Services, including its CEO, CFO, and head of Europe, knew about inflated revenues, bogus contract renewals and invoices, and made-up supplier transactions to “meet bonus targets and disguise […]

Couple in bed

Let’s Talk About F*cking Your Coworkers

Happy Valentine’s Day, y’all! Whether you’re single, attached, or too busy to give a crap about getting laid, today is all about love. Or at least that’s what Hallmark wants us to believe. Given the fact that love is on everyone’s minds this week, the following article from the NASBA Center for Public Trust couldn’t […]

Compensation Watch ’19: Controllers

TPTB would like Adrienne and I to try to post an article each week that is compensation-related because, well, you guys like money and you guys like to read about how much money you could or should be making. So now that Randstad just released its 2019 Salary Guide, and Robert Half and Accounting Principals […]

Ex-KPMG Partner’s Fraud Trial: Opening Arguments

A jury heard opening arguments in a Manhattan courtroom on Feb. 12 in the trial of a former high-ranking audit partner at KPMG who was charged with conspiracy and wire fraud for his role in a scheme to cheat the Public Company Accounting Oversight Board inspection process. David Middendorf and co-defendant Jeffrey Wada, a former […]

Paint drying

Busy Season Zen: Here’s Ten Straight Hours of Paint Drying

How’s it going? We’re early in the season so I would imagine some of you are still hanging in there. But before you know it, you’re going to be facing vitamin deficiencies and potential nervous breakdowns. Maybe this will help. Need more zen? Here’s all the Busy Season Zen your poor broken heart can handle. […]

Bonus Watch ’19: Tax Whistleblowers

Snitching on tax cheats could be just as lucrative in 2019 as it was in 2018, according to Dean Zerbe, national managing director for alliantgroup and former tax counsel for the Senate Finance Committee. In his latest column for Forbes, Zerbe noted that there was a tenfold increase in tax whistleblower awards last year: Honest, […]

Number of New Partners Admitted at CohnReznick Balloons to 23

Feb. 1 was a record-setting day for New York-based CohnReznick, as it admitted the largest partner class in the firm’s history. CohnReznick, the 11th-largest accounting firm in the U.S., gave new partner gift bags to 23 CPAs (four women and 19 men) last Friday. Maybe they got new hats, too. Last year, the firm admitted […]

BDO

BDO Is Officially the Fifth-Largest Accounting Firm In the U.K.

Step aside, Grant Thornton. BDO’s merger with Moore Stephens has been completed, making Bravo Delta Oscar the largest non-Big 4 accounting firm in the U.K. From Economia: The merger gives [BDO] a combined workforce of 5,000 staff members and 350 partners working in 17 locations across the UK. The firm is expected to deliver revenues […]

MBA Holders Have Bigger Paychecks, Especially White Dudes

Last October, we published an article written by a former KPMG senior associate, which you guys seemed to like, on why accountants should have both a CPA and an MBA. But what the article really doesn’t talk about is the earning potential of having an MBA. Well, a new study from the Forté Foundation sheds […]

Roman the cook

Busy Season Zen: Watch This Toddler Make Lasagna

Alright y’all, I’ve got good news and bad news. The good news is that Busy Season Zen is back. Those of you who have been around since the good ole days will recognize it as a weekly feature that has absolutely nothing to do with accounting and everything to do with giving you a break […]

grant thornton uk ftse

Grant Thornton Jumps on the ‘Let’s Form a Panel to Show We’re Committed to Audit Quality’ Bandwagon

Last week we let you guys know about a three-member independent committee EY recently created that will be tasked with advising senior leadership on how to strengthen audit quality. Not to be outdone, Grant Thornton announced Jan. 30 that it, too, has formed a three-member, mostly independent panel that will counsel the firm’s partnership board […]

Meddling Inspectors

The PCAOB Needs to Just Beat the Sh*t Out of KPMG Already

Story time. Many, many years ago when my favorite show was the Snorks and my Big Wheel was my only mode of transportation, there was this kid on my block who was a real little shit. He constantly broke everyone’s toys and once ran over my plastic Good Luck Bear with his bike, permanently rendering […]

cryptocurrency consulting accounting job

Should Cryptocurrency Consulting Be the Next Phase in Your Accounting Career?

Think the hype over cryptocurrency has reached its fever pitch? Think again—the crypto craze has only just begun. Businesses are increasingly viewing cryptocurrency as a viable investment. New tokens are gaining steam, and Bitcoin, the OG crypto cash, continues to trade at a frenzied pace. More than 200,000 Bitcoin transactions occur every day, and investors like […]

ernst & young report ashley madison

EY Felt the Need to Form an Independent Audit Quality Committee

If someone had told you that a Big 4 firm just created an independent committee that will advise the firm on how to improve the quality of its audits, you’d think it was KPMG, right? I mean KPMG partners stole confidential inspection information from a couple of rogue PCAOB employees because the firm’s inspection reports […]

Marcel Stalder Is Out as CEO of EY Switzerland

A couple weeks ago, we got an email from a tipster who told us that EY Switzerland CEO Marcel Stalder was “dead meat” due to the firm’s handling of sexual harassment allegations made against a male managing partner by a former female associate. Well, turns out this person was right; Stalder has stepped down as […]

According to Some List, Big 4 CEOs Are Among the Best ‘Brand Guardians’ in the World

It’s listicle time, you guys. This one comes from an outfit called Brand Finance, which calls itself “the world’s leading independent branded business valuation and strategy consultancy.” At today’s World Economic Forum in Davos, Switzerland, Brand Finance released its Global 500 report, which ranked the world’s 500 most valuable brands. The report also ranked the […]