Firms

BDO

Hiring Watch ’19: BDO Nashville Wants You and Some of Your Friends

It looks like EY isn’t the only firm going on a hiring spree in Nashville. BDO is getting some new digs and will be needing some new capital market servants. The Nashville Post reported: Fifth + Broadway developer Brookfield Properties on Tuesday announced professional services firm BDO USA will take space in the multi-building development’s […]

It’s Now Official: Grant Thornton Has Elected Brad Preber as CEO

UPDATE: Nice work, tipsters. Grant Thornton released the following press release today confirming the story we broke yesterday (see below line break): The Partnership Board at Grant Thornton LLP announced that Bradley J. Preber will serve as the firm’s CEO. The board appointed Preber to the role following a comprehensive search process, and the firm’s partners and […]

Layoff Watch ’19: Grant Thornton U.K. Cuts Reach the Partnership Level

Let’s face it, 2019 hasn’t been the best year for the Queen’s Grant Thornton, and neither was 2018. Let’s recap: 2018 Stopped bidding for new audit work at the largest U.K. companies. Patisserie Valerie accounting fraud; Grant Thornton was the auditor and is under investigation by the Finanical Reporting Council. Fined £3 million by the […]

Promotion Watch ’19: RSM Adds 80 New Partners and Principals

Whoa, the newest crop of partners and principals might be the largest ever at R to the S to the M. The good news was shared via Twitter on Oct. 1. AND THERE ARE FUN FACTS! Let's give it up for our 80 newest partners and principals! 🎊🎉 https://t.co/CEF9Uo7kDy pic.twitter.com/vKD78mYRyN — RSM US LLP (@RSMUSLLP) […]

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Promotion Watch ’19: BDO Admits 48 New Partners

Wayne Berson is letting 48 lucky guys and gals join the club, in what is one of the largest new partner classes in BDO USA’s history. Says Wayne-o: “We are proud to welcome the largest class of partners at BDO in more than 20 years,” said Wayne Berson, CEO of BDO USA. “Each of our […]

Grant Thornton Reports 5.4% Increase In FY 2019 Revenue, Still Gloating About Its 2017 PCAOB Inspection Report

Grant Thornton sent out a snoozer of a press release earlier today announcing that its fiscal year 2019 revenue totaled $1.9 billion, up 5.4% from $1.8 billion in 2018. The only fun thing in the release is that GT is still taking a victory lap over its 2017 PCAOB inspection report, which found that only […]

Those Who Know, Know BDO CEO Wayne Berson Is Back for Another Term

You’d be smiling too if you were Wayne Berson. Wow, what a day at Bravo Delta Oscar! Not only did BDO USA announce that supreme leader and ex-cricket player Wayne Berson was re-elected by partners to a third term as CEO, but the firm achieved another record-setting year of revenue, topping out at $1.64 billion […]

RSM US Revenue Rose to $2.4 Billion In FY 2019

So says the RSM US 2019 annual report: That’s a 14% increase over the firm’s FY 2018 revenue of $2.14 billion. RSM’s fiscal year ends on April 30. There’s not a whole lot more to add because RSM doesn’t usually send out glitzy, congratulatory press releases on its year-end revenues like EY did today. But […]

RSM US’s $950,000 Fine Is a Reminder That Performing Non-Audit Services for Audit Clients Can Get You Into Trouble

You’d think a firm like RSM US would know this by now, but guess not. The Securities and Exchange Commission today charged public accounting firm RSM US LLP with violations of the agency’s auditor independence rules in connection with more than 100 audit reports involving at least 15 audit clients. Yes, auditor independence is a […]

Promotion Watch ’19: Grant Thornton Admits 42 New Partners and Principals

The last month hasn’t been the greatest for Grant Thornton, as the firm gave pink slips to 230 professionals and 40 PPMDs, approximately 3.5% of its workforce, at the end of July. So GT’s leadership probably wanted to wait until the dust settled before they announced that interim CEO Brad Preber had recently handed out […]

Ex-Grant Thornton U.K. CEO Sacha Romanovitch Has a New Gig

The first female CEO of a major accounting firm in the U.K. won’t have to worry about partners stabbing her in the back in her new position as CEO of a financial inclusion organization called Fair4All Finance: We are happy to announce the appointment of our first CEO, Sacha Romanovitch. From 1st Sep she will […]

House Dems Want BDO Puerto Rico to Stop Shredding Documents Already

When a document shredding truck pulls up to an accounting firm whose former managing partner was just indicted for his role, and that firm’s role, in a massive corruption scandal in Puerto Rico, it’s going to raise some eyebrows. And those eyebrows belong to U.S. Reps. Raúl Grijalva (D-AZ) and Nydia Velázquez (D-NY). Velázquez, a […]

Who Will Be the Next CEO of Grant Thornton?

Among the slew of tips we received about the layoffs that went down at Grant Thornton last week and what interim CEO Brad Preber had to say about it was this one that also piqued our interest: As Brad Preber is the “interim” CEO, there are three people (women) currently being considered for the CEO […]

Why Grant Thornton Quitting As Auditor of Sports Direct Matters

In an ordinary midsummer news slump, only yawning disinterest would greet the July 29 news of Grant Thornton’s notice to the U.K. authorities of its intent to resign as auditor of troubled retailer Sports Direct International plc. The times are not ordinary; the cauldron of auditor criticism has bubbled since the collapse of Carillion in […]

Well, At Least RSM Plaza Won’t Have to Be Renamed

RSM US (the firm formerly known as McGladrey) will be sticking around RSM Plaza (the building formerly known as McGladrey Plaza) for a little while longer. Chicago-based RSM US LLP on Tuesday [July 16] announced that it’s renewed its lease at RSM Plaza in downtown Minneapolis. Though the building bears RSM’s name, it’s actually owned […]

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Layoff Watch ’19: Interim CEO Brad Preber Addresses the Grant Thornton Layoff Rumors

It’s Brad Preber’s first day on the job as interim CEO of Grant Thornton after now-former CEO and hero of the wastes Mike McGuire noped on up out of that seat. And boy did he have a shitstorm to deal with first thing. Rumors of Grant Thornton layoffs started swirling earlier this week, and no […]

Layoff Watch ’19: It’s Going Down at Grant Thornton

Back in March, Jason let us know about a handful of layoffs out of Grant Thornton U.K. and now it seems the fun is coming to ‘Murica. First, a tipster informed us of a shake-up in the Northeast Region, with the Westborough, MA office closing up and possibly more closures planned. Our tipster says they […]

RSM Did a Little Talent Shopping At the Big 4

And Adams & Co. came away with a new tax principal and a new risk consulting leader. First up is Brad Collins: In his role as a principal with the firm’s national tax team, Collins leads the firm’s efforts to identify opportunities where RSM can eliminate tax data management challenges for private equity and hedge […]

Recruits Will Get to Virtually See Why They’d Be ‘Mad As a Hatter’ to Work at BDO

From Consultancy.uk: BDO has announced it has joined the workplace gaming scene. It is attempting to attract top new talent with an Alice in Wonderland-themed game which tests potential recruits’ abilities in problem-solving and assessing cause and effect. As reported by the Telegraph, the games will see recruits try to find a key in a specialist […]

All Fat Guys Can Relate to Ex-BDO Puerto Rico Managing Partner Trying to Put On a Belt

Here’s a question to all my fellow overweight brethren: Is there anything worse than trying to put on a belt while wearing a dress shirt? If you’re like me, after you tuck in the shirt, you poof it out in the front, back, and sides so it doesn’t cling to your stomach and love handles, […]

BDO Puerto Rico Managing Partner Resigns After Indictment In Massive Corruption Scandal

The words “managing partner” and “corruption” used in the same sentence is never a good thing, as we found out in the KPMG/PCAOB information leak scandal. But while there was no scheme to steal confidential information from an audit regulator going on in Puerto Rico, there were allegations of money laundering, theft, and wire fraud […]

U.K. Inspection Reports Reveal That Grant Thornton Can’t Audit Its Way Out of a Paper Bag

Here’s some good news for the 300 new auditors Grant Thornton in the U.K. is expecting to hire within the next 12 months: You can’t be any worse than the auditors GT has employed in recent years. The Financial Reporting Council released its annual audit inspection reports for the Big 4 firms, as well as […]

Let’s Give a Big Hand to BDO For Not Having the Worst 2017 PCAOB Inspection Report

The PCAOB released the 2017 inspection report for BDO USA at the end of June, and while the firm should still hang its collective heads in shame for there being deficiencies found in nine of the 23 audits inspected in 2016, for a 39% failure rate, there are a few positive things that Bravo Delta […]

Hiring Watch ’19: RSM Planning to Add to Its KC Headcount

Not Kansas City, KS, but Kansas City, MO, where in July 2020, RSM will be moving into a swanky new office space currently being developed in Country Club Plaza. RSM will occupy all of the ninth floor and half of the 10th floor in the 14-story, 214,000-square-foot office tower that will be called 46 Penn […]

Hiring Watch ’19: Grant Thornton U.K. Is Looking For Competent Auditors to Fill 300 Jobs

Hey, auditors! How confident are you that you wouldn’t royally screw up auditing the financial statements of a well-known U.K. cafe chain and could uncover a £94 million accounting fraud? Pretty confident, eh? Well, you couldn’t do much worse than the dolts Grant Thornton U.K. had handling the audit work on Patisserie Valerie’s accounts. While […]

Have You Been Approached By a Colleague to Participate In a Fraud?

Good morning, GCers. Some friends of ours at the University of Illinois at Urbana-Champaign and Queen’s University in Kingston, Ontario are conducting research on group fraud and other highly unethical acts, and we’re hoping you can do them a solid and help them with their project. While I’m sure they wouldn’t pass up an opportunity […]

We’re Sure Mike McGuire Will Be Dynamic In His New Role as Grant Thornton ‘Brand Ambassador’

Bear with me, I’m writing this on my phone at the side of a pool. Anyway, talk about your Friday night news dumps. This came out of the blue: Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL), one of the world’s leading audit, tax and advisory firms, announced today that […]

Man Who Was Arrested For Repeatedly Stabbing a Hiker Near Los Angeles Apparently Works at BDO

We got a tip the other day that said an employee of one of the top accounting firms in the U.S. got into some trouble with the law last week: Look into the stabbing from Altedena on May 29th. The alleged suspect, Kristopher Brown works as a Senior for BDO Los Angeles. He’s currently in […]

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Auditor Swap: AZZ Says Buh-Bye to BDO USA, Hires Grant Thornton

Auditor shopping has made the news a little more than usual of late, with high-profile companies like Fitbit and Goldman Sachs in the U.K. both kicking PwC to the curb in favor of a fresh, new set of eyes. Then there’s General Electric, which might end its century-old relationship with KPMG after this year. While […]

Grant Thornton Poaches Someone From KPMG and Issues a Press Release, Part II

In the comment section of an article we posted on May 10 about a managing director and a partner recently fleeing KPMG to join Grant Thornton’s Corporate Value Consulting practice, we got a tip that the Purple Rose of Chicago recently poached KPMG again—Candice Turner left the HoK to join GT as a principal in […]

Grant Thornton Poaches Two People From KPMG and Issues a Press Release, Part I

A couple of months ago, we reported that a partner and a principal bolted Grant Thornton earlier this year for the blue-and-white confines of KPMG, one of whom actually left and came back to the House of Klynveld. Well, it looks like the Purple Rose of Chicago has turned the tables on KPMG. Grant Thornton […]

The PCAOB Is Sick and Tired of Not Being Told About Firms’ Past Disciplinary Hearings

RSM US isn’t the only firm that has been lazy about disclosing to the PCAOB that they’ve been involved in a non-PCAOB disciplinary proceeding. In fact, RSM’s affiliate in Hong Kong and Deloitte’s affiliate in Colombia are also guilty of taking too damn long to send the PCAOB the proper paperwork. And now both firms […]

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Grant Thornton Partner Killed In Car Crash

Some sad news to report, as a partner in Grant Thornton’s New York City office died in a one-car crash in Westport, Conn., on April 14. Cullen Walsh, 39, was identified by authorities on Tuesday as the person killed in the crash, according to the Westport News. Shortly before 1 a.m. Sunday morning, first responders […]

You’ll Have to Pry Vault’s ‘Most Prestigious Firm’ Title Out of PwC’s Cold, Dead Hands

A little while ago, we told you how PwC locked down the top spot in Vault’s 2020 Accounting 50—the seventh consecutive year the firm has been ranked No. 1.  But believe it or not, this isn’t the longest win streak P. Dubs has going when it comes to Vault’s rankings. Even though the House of […]

PwC Once Again Tops Vault Accounting 50 (2020)

It’s one of our favorite times of the year at GC HQ when our friends at Vault put out their yearly rankings of the top accounting firms in the U.S. in several categories. But for now, we’re going to focus on the overall top 50 ranking. The No. 1 firm in the U.S. for 2020, […]

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Grant Thornton Surprises Everyone By Not Sucking at Auditing

Grant Thornton gets a bad rap around here, much of which is kinda justified to be fair. They’re sort of like your annoying little brother who always wants to come with you to hang out with your friends but he smells like curdled milk and always has crusty gunk on the corners of his mouth. […]

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 […]

PCAOB Fined RSM US $15,000 for Taking Its Sweet-Ass Time to File a Form 3

Say a PCAOB-registered accounting firm is a defendant or respondent in an administrative or disciplinary proceeding that was initiated by another regulator. That firm has to let the PCAOB know about this by filing Form 3, Special Report, within 30 days after the event. The firm also has to let the PCAOB know that it […]

Layoff Watch ’19: Grant Thornton U.K. to Part Ways with Up to 60 Staffers

Some unlucky folks at Grant Thornton U.K. are taking the hit for the firm’s miserable 2018, which saw GT stop bidding for new audit work at the largest U.K. companies, the CEO not seeking a second four-year term after a partner revolt, revenue dip from £500 million in 2017 to £491 million last year, partners’ average […]

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 […]

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KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Parts I and II

We here at GC HQ love a good poaching, especially when it involves two of the top six firms in the U.S. So we were happy to see this press release from KPMG come across our virtual desk this morning: Mark Rems has joined KPMG LLP, the audit, tax and advisory firm, as a principal […]

Grant Thornton Current and Former Partners Will Have a Seat In the PCAOB’s Penalty Box

The Public Company Accounting Oversight Board doled out suspensions to a current partner and a former partner at Grant Thornton on Feb. 26 for their roles in screwing up the 2013 audit of a real estate investment trust. Richard Huff Jr., CPA, was censured and given a one-year ban by the PCAOB. Huff was the […]

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 […]

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 […]

Grant Thornton Topped $5.4 Billion in Global Revenue in 2018

It’s a dynamic time to be a GTer (unless you work in the U.K.), as Grant Thornton International announced this week that its network of firms around the world combined to reach a record $5.45 billion in revenue for the financial year that ended on Sept. 30, 2018. Global revenue grew 9.4% in U.S. dollar […]

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 […]

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 […]

An 8% Drop in Pay Might Be the Reason Why Some Grant Thornton U.K. Partners Were Pissy at CEO

We’re just spitballin’ here. From Economia: [Grant Thornton] said on Friday its average profit per partner fell 8% from £403,000 to £373,000 in 2017/18. Ouch! Of the top six accounting firms in the United Kingdom, this puts Grant Thornton sixth, by quite a bit, in average partner pay for the 2017-18 financial year: Deloitte: £832,000 […]

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 […]

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 […]

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 […]

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 […]

Grant Thornton CEO Mike McGuire Will Hang Around For a Few More Dynamic Years

While Grant Thornton U.K. is actively looking for a new CEO to replace Sacha Romanovitch, who is quitting after being stabbed in the back by a group of anonymous partners, everything is hunky-dory at Grant Thornton LLP, where the U.S. firm has decided to keep its current czar around for a little while longer. A […]

Anonymously Bashing Your Boss Must Have Worked as Grant Thornton U.K. CEO Is Calling It Quits

A small group of Grant Thornton U.K. partners must have been grinning from ear to ear on Oct. 15 after hearing the news that Sacha Romanovitch has decided not to seek a second term as the firm’s CEO. A new CEO is expected to be appointed before the end of 2018 following an election process in […]

BDO

Three Ex-BDO USA Accountants Will Be Sitting on the Sidelines For a While Due to Really Bad Auditing Decisions

Coming off the heels of a horrible Public Company Accounting Oversight Board inspection report, in which 16 of 24 audits inspected in 2016 were found to have deficiencies, BDO USA is again in the news for all the wrong reasons. Three former BDO accountants were suspended by the Securities and Exchange Commission on Oct. 12 […]

Plante Moran Adds 15 New Partners

Promotion Watch has landed in the Detroit ’burbs, where 15 men and women at top 15 firm Plante Moran have received their partner badges. Plante Moran’s partnership classes have gone up and down in numbers in recent years, kind of like Going Concern’s page views: 2018: 15 2017: 21 2016: 13 2015: 16 Much like […]

Moss Adams Admits 21 New Partners

When it comes to new partner promotions, Going Concern has never given much love to Moss Adams. But that ends today! Earlier this month, the top 15 firm, based in Seattle, gave 21 men and women keys to the partnership. This year’s class is rather large by Moss Adams standards: 2018: 21 2017: 14 2016: […]

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Man Who Took 10 Years to Get Certified Credits His Firm for Totally Unimpressive Accomplishment

A U.K. man is in the local paper after finally realizing his goal of becoming a certified chartered accountant after an impressive 10 years. Ten years? My how the time flies when you’re doing, well, anything but studying to become a certified chartered accountant. Michael Webb has qualified as a certified chartered accountant at the […]

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Those Who Know, Know BDO … Sucks at Auditing

So, the latest PCAOB inspection report of BDO USA is out, and man, it’s bad. You know it’s bad when even KPMG can do better. Well, at least according to the most recent available report, we’re still waiting on the suspiciously absent 2016 KPMG PCAOB inspection report. Anyhoo, back to BDO. They’re no strangers to […]

RSM US Adds 68 New Partners and Principals

Oct. 1 was a big day for the denizens of RSM US, as 68 new partners and principals were released into the wild. RSM is pleased to announce our 68 newest partners and principals! https://t.co/seOK5zui4F pic.twitter.com/YqsSwVGjiA — RSM US LLP (@RSMUSLLP) October 1, 2018 This year’s class of new partners and principals at the firm […]

Grant Thornton Posts Revenue of $1.8 Billion in Fiscal Year 2018

[Updated with quote from Grant Thornton spokesperson.] The Purple Rose of Chicago put out a very skimpy press release this morning announcing that the U.S. firm’s revenue hit $1.8 billion for the fiscal year that ended July 31, 2018, up 3.4% over last fiscal year. And … that’s pretty much it. Not even a mention […]

Here’s Your 2018 List of the Most Mom-Friendly Public Accounting Firms

Hey, ladies! If the grind of a career in public accounting is appealing to you and if you’re planning to have a family of five kids, two dogs, and a cat one day, then you should consider buying a Chevy Traverse—and peruse Working Mother’s 100 Best Companies list for 2018. From a public accounting standpoint, […]

Some Grant Thornton U.K. Partners Are Trying to Undermine CEO, Say She Is Pushing a ‘Socialist Agenda’

Grant Thornton U.K. CEO Sacha Romanovitch isn’t very popular with a small group of partners who say she is pursuing a “socialist agenda” and has instilled a “culture of fear” at the firm where there are severe repercussions for speaking out, according to a Sept. 21 Financial Times report. Romanovitch, who became the first female […]

FRC Didn’t Want Grant Thornton U.K. to Feel Left Out of All the Disciplinary Fun

The Big 4 firms in the U.K. have been the target of repeated tongue-lashings from the Financial Reporting Council lately because, let’s face it, audits have been pretty damn bad. Things have gotten so desperate that EY is bringing in behavioral psychologists to improve audit quality. But the U.K. accounting watchdog’s most recent tongue-lashing wasn’t […]

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Grant Thornton Admits 32 New Partners and Principals

This just in from the Purple Rose of Chicago: Grant Thornton LLP has admitted 32 new partners and principals, and promoted 29 to managing director, effective today. Specifically, 20 new partners and 12 new principals are members of the class of 2018. Here’s how this year’s numbers compare to previous years’ new partner/principal promotions at […]

BDO

A 4.2% Increase in Revenue Must Give BDO USA All the Happy Feels

Nearly two months after announcing that 37 new partners would be joining the firm, BDO USA put the word out that its revenue for the fiscal year ended June 30, 2018, grew by 4.2% over the previous year. BDO USA’s self-reported revenue of $1.47 billion, which was announced on July 31, exceeds last year’s revenue […]

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Midsize Firms Are Stepping Up Their International Game to Compete with the Big 4

Globalization has reached a saturation point. For small and midsize accounting firms, the question of expanding internationally is not one of if, but when. Many firms have responded to the challenge, creating international capabilities that in some ways equal or even surpass that of the Big 4. A world of opportunity A 2016 survey by […]

Baker Tilly Admits 11 New Partners

Apologies for this slipping through the cracks, but earlier this month, Baker Tilly Virchow Krause announced it was bringing 11 new partners onboard. The new partners—four ladies and seven gentlemen—officially got their stripes on June 1. Since 2013, Baker Tilly has admitted an average of about 11 partners a year, so this year’s class is […]

You Won’t Need a Therapist if You Have a Mentor

Public accounting breeds irritable, highly-caffeinated workaholics. It’s no surprise mental health is an afterthought. Between preparing for intense client status calls and getting workpaper review comments cleared before archiving starts, it’s not likely you’ll have much time to focus on your feelings. We put up with long hours with 85%-90% billable utilization quotas during the […]

Aprio Itchin’ to Close Deal on Acquisition of Cloud Accounting Firm HPC

Aprio LLP’s proposed acquisition of HPC seems like a match made in cloud accounting heaven. The closing of the deal between Aprio, the fifth-largest accounting firm in Atlanta, and HPC, a cloud-based accounting practice that services it clients online, is still subject to certain contingencies, officials from both firms said. Financial terms of the agreement […]

Exposure Drafts: 1099s Don’t Care If You Shun Them

Exposure Drafts appears every other Wednesday. Send your accounting cartoon ideas and list of your least favorite tax returns to editor@goingconcern.com. You can follow Greg Kyte on Twitter.

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BDO USA Admits 37 New Partners

Caleb sure picked a bad time to start a new job. New partner announcement season was one of his most favorite times of the year. I’m sure he’s celebrating the start of this season from afar. Today, BDO USA announced that 37 new partners will be admitted to the partnership, effective July 1. The 2018 […]

High rock accounting

How I Stole My Soul Back From Public Accounting

High Rock Accounting founder Liz Mason writes about her journey from public accounting grunt to starting her own firm.

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Why Serving the Cannabis Industry Can Be Dope for Accountants

In an interview with Going Concern, DOPE CFO founders Andrew Hunzicker, CPA, and Naomi Granger, CPA, explain what common cannabis accounting mistakes CEOs make and why the industry presents a huge opportunity for accounting professionals.

remote work myths

Busting 4 Myths About Remote Accounting Work

You already know by now the remote revolution is upon us. Workers are embracing work from home options and flooding to the gig economy in droves. According to a 2017 report, 3.9 million employees currently work from home at least half the time. That’s a 115% increase in remote workers since 2005. But misconceptions about […]

Why I Have a Strictly Remote Workforce

In 2012, I started an accounting firm, although I didn’t realize that I was starting an accounting firm at the time. I was merely working under contract for a few businesses in the New Orleans area; as I got busier, I started to add help, and voila, Aguillard Accounting was born.

We’re One Meltdown Away From a Bunch of Crusty Old CPAs Saying ‘I Told Ya So’ About the Cloud

If you don’t spend a lot of time thinking about what a severe outage of Internet-based services might be like, this CFO article cites a report that tried to ballpark it: A cyber incident that takes a top-three cloud-services vendor offline for three to six days would spawn customer financial losses of about $7 billion […]

Exposure Drafts: Busy Season Is Over. You Deserve a Break From People.

Exposure Drafts appears every other Wednesday. Send your accounting cartoon ideas and emergency contact info to editor@goingconcern.com. You can follow Greg Kyte on Twitter.

Exposure Drafts: Busy Season Adultery Isn’t the Worst Betrayal

Exposure Drafts appears every other Wednesday. Send your accounting cartoon ideas and Ashley Madison avatars to editor@goingconcern.com. You can follow Greg Kyte on Twitter.

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Man Accused of Using Federal Funds to Purchase Plane, Guns, Porn Gonna Keep His Job Because Tax Season

Anyone who’s gone through a single busy season will tell you that there’s no messing around. It’s crunch time. That’s why many accountants go to work when they’re sick, forgo austere obligations, ignore their loved ones, and in general, compromise their principles to keep busy season moving along as smoothly as possible. Today we have […]

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On Chivalry and Emotional Restraint in Public Accounting

When I started in public accounting we did a Skittle icebreaker on the first day in the office and each color had an associated question. My random Skittle question was, “If you could have any superpower, what would it be?” and I remember saying: “Nerves of Steel.” Most people thought it was a unique response. […]

Ginger Diversity Hire accounting firm

Exposure Drafts: The One Way Accounting Firms Are Succeeding at Diversity

Exposure Drafts appears every other Wednesday. Send your accounting cartoon ideas and diversity quotas to editor@goingconcern.com. You can follow Greg Kyte on Twitter.

IRS Reminds Everyone to Report Their Crypto Trading Income and If You Don’t, Hey, Maybe You’ll Go to Jail

As we’ve discussed, some cryptocurrency traders have only recently learned that taxes are a thing. To make matters worse, some traders who made a lot of money wound up fully back in the market only to find themselves holding positions that now have huge paper losses. This situation is precisely the worst possible one to […]

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Some Cryptocurrency Traders Opting for ‘Screw It’ Tax Compliance Approach

Here’s an amusing New York Times column by Kevin Roose that features a rafter of cryptocurrency traders distressed about their tax situations. As we noted earlier this year, some crypto traders got mad/sad upon learning that taxes were a thing they had to deal with. And according to Laura Walter, aka Crypto Tax Girl, some […]

voluntold accounting firms

Beware of Public Accounting’s ‘Voluntold’ Assignments

Employment-at-will. It’s a lovely sentiment; if you don’t like it, quit. Easy. But, all jobs require you to do things that aren’t your cup of tea. Once you sign an offer letter at your accounting firm of choice, your schedule will be decided months in advance by the scheduling overlords (i.e., whichever unlucky partner or […]

tax returns prepare deadline

Reminders for The Idiots Out There Who Have Yet to Get Their Tax Stuff Together

Still busy, I see. Hello American Taxpayer, How are you? Good? Great, that’s swell. Hey, here’s a question — have you thought about your tax return? No? Oh, yes, I did hear that March Madness is going on. But did you also know that the tax return filing deadline is coming up soon? What’s that? […]

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Foreign Affiliates of Big Audit Firms Screwed Up Some Stuff

The Securities and Exchange Commission fined foreign affiliates of BDO, Deloitte, and KPMG for skirting oversight of the PCAOB. Here’s the skinny: According to the SEC’s orders, the Zimbabwe affiliates of Deloitte & Touche and KPMG improperly audited the majority of assets and revenues of a publicly traded company without registering with the PCAOB. The […]

cloud accounting

While Some Companies Move Away From Remote Work, Others Double Down

Last year, IBM decided to “co-locate” its 2,600 member US marketing department. Translation? IBM is eliminating remote work. The news is especially shocking as IBM is one of the pioneers of remote work, installing work-from-home terminals for some employees as far back as the 1980s. As more businesses move toward embracing remote work, others are […]

quitting public accounting

A Field Guide to Quitting a Job in Public Accounting

That is the look of a man who no longer bears the yoke of a Big 4 job. Are you fantasizing about quitting your public accounting job? It’s finally March. Busy season will start to wind down soon and those miserable hours will begin to taper off. You may catch yourself daydreaming about finding another […]

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How to Be Part of the Team, Even When Working Remotely

Does remote working make you feel like a faceless drone, beaming work from a distant planet across satellites to unseen robotic clients? Cloud accounting doesn’t have to look like this. In fact, it can’t look like this if businesses want to stay competitive and ahead of the curve. As more companies begin to rely on […]

reverse mentoring public accounting

What to Do if You Find Yourself Reverse Mentoring a Public Accounting Partner

It’s no secret that public accounting churns and burns its employees. Burnout is a cost of doing business. The result is fewer people embark on the partner track and those who become partners plan on staying put. I’d say most of those partners are crossing their fingers that the gravy train keeps chugging along from […]

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Tax Pros: IRS Would Appreciate It If You Didn’t Foist Your Pushy Clients On To Them

Americans are desperate for help with their tax returns. The majority of taxpayers would settle for a DeVry University dropout with precisely three credit hours of accounting courses under their belt if it meant they wouldn’t have to deal with taxes at all. Tax professionals, likewise, are overwhelmed. The clients they do have are pushy, […]

This Valentine’s Day, Get Something For That Lovable Yet Hopelessly Disorganized Accountant in Your Life

Valentine’s Day is upon us and that means accountants all across this great land are disappointing their beloveds with excuses like, “We have a deadline Thursday,” and “Remember, we both agreed that we wouldn’t buy into these Hallmark holidays,” and “The client needs me to stay late.” So if you’re unable to pull yourself away […]

tax returns prepare deadline

Insecure Overachievers Will Always Have a Place in Public Accounting

Does the endless stream of work make you want to cry sometimes? I know it is enough to make even diehard auditors buckle and break. Overwork is a hallmark of the accounting profession, and we all know it. But why? Surely if you factor in all of the international teams, we have plenty of people […]

cryptocurrency trading taxes

Cryptocurrency Traders Learning That Taxes Are a Thing

Here’s an amusing MarketWatch story by Shawn Langlois on how cryptocurrency traders, presumably having no concept of income, are all bent out of shape about the taxes they owe on their trading gains. The lead kvetcher, latex_man, posted a thread entitled “I just did my taxes and it turns out I lost almost everything” and […]