Firms

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 […]

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 Queens 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 […]

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 […]

big 4 international

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.

cannabis accounting

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 […]

integrate remote workers

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 […]

irs tax season problems

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 […]

accountant tax return

An Open Letter to Anyone Thinking of Asking the Accountant in Their Life for Help on a Tax Return

Dear friend, There’s an accountant in your life. He or she may be a relative, acquaintance, or someone who foolishly answered your terrible icebreaker “So, what do you do for a living?” honestly. It dawned on you that tax season will soon be upon us. You have probably received documentation informing you that a precise […]

Exposure Drafts: You Can’t Run From the Billable Hour

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions and failed resolutions to editor@goingconcern.com and follow Greg Kyte on Twitter.

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Reminder, Creepy Accountants: Offering to Teach a Subordinate About Tax Returns Is Not an Opportunity to Get All Handsy

Here’s a story from November (yeah, I know, but it’s January 3rd) about a “68-year-old Manhattan accountant” who “lured his 23-year-old clerk to his home office by saying he wanted to teach her about income-tax returns — then claimed God wanted her to be his sexual plaything.” I don’t have to tell any of you […]

cpa prepare busy season tax cut jobs act

A CPA’s Incomplete 2018 Busy Season Prep To-Do List

Cut holiday vacation short to read the Tax Cuts and Jobs Act. Implement “Tax Cuts and Jobs Act” charge code. Cram 40 hours of CPE into 4 days. Stare at children to remember their faces. Document rationale for becoming a corporation. Refill Zoloft prescription. Write farewell emails to non-profit clients. Stock up on bubble wrap. […]

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Grant Thornton Gets Dinged for Giving Partners with Audit Quality Issues More Work

The Public Company Accounting Oversight Board has announced a big settlement with Grant Thornton over quality control violations and audit failures. The firm was censured and agreed to pay a $1.5 million civil penalty. The quality control violations related to the assignment of two Philadelphia-based partners to audits in 2013 when they had been cited […]

We Three Kings Of Orient Are, Bearing Noncash Cash Gifts of Less than $500, Therefore Don’t Have to File Form 8283

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

accounting firms 2018 worries

A Working List of Things Accounting Firms Will Be Fretting About in 2018

Disruption Change Disruptive change The pace of disruptive change Whether or not they’ve figured out the cloud Finding qualified talent Millennials Figuring out how to find qualified talent that aren’t millennials The inevitable cyberattack that will result in every client the firm has ever had filing a lawsuit Artificial intelligence making accountants obsolete through automation […]

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We Might Have New PCAOB Member Nominees Soon, Someday, Maybe

Just keeping it warm. Dave Michaels reports at The Wall Street Journal that SEC Chairman Jay Clayton’s preferred choice to lead the PCAOB is rumored to be the same person everyone thought it would be: SEC Chairman Jay Clayton wants William Duhnke to become the PCAOB’s next chairman, according to one of the people familiar […]

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The Number of Women Partners in Accounting Firms Is Still Abysmal

Earlier this month, the AICPA Women’s Initiatives Executive Committee (WIEC) issued its second CPA Firm Gender Study and its findings are not encouraging. The survey found that partnership on average remains overwhelmingly male. The current survey shows little change from studies done in years past, which have typically found less than one-quarter of the partnership […]

ED - Santa Gift Tax exclusion

Exposure Drafts: All I Want for Christmas Is the Maximum Allowed Under the Gift Tax Exclusion

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

Exposure Drafts: The Billable Hour Has Some Kinks

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

Exposure Drafts: Good Mentors, Bad Utilization

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com and follow Greg Kyte on Twitter.

remote working

Embracing Remote Accountants Can Benefit Your Business

Remote working is on the rise. In 2016, 22% of American employees did at least some of their work from home. And for those with advanced degrees over the age of 25, the number is even higher—a full 43% reported working remotely at least some of the time. It may feel natural to some accounting […]

Exposure Drafts: Being #AuditorProud Means Not Having to Say, “I’ll be home for dinner.”

Exposure Drafts appears every other Wednesday. Send your accounting cartoon suggestions to editor@goingconcern.com.

#auditorproud

#AuditorProud Day Hits the Trifecta

Has it been a year already? The third annual #AuditorProud Day is upon us and it’s building momentum. Last year, 115 countries participated posting over 14,000 tweets and 4,000 Instagram photos. Kiwis got into the act early: Happy #AuditorProud Day! Auditors instil trust and confidence & have indispensable role in capital market system #CAANZ @chartered_accts […]

auditorproud poem

A Poem for #AuditorProud Day

I am an auditor. I am proud. Say it with me nice and loud. I am an auditor. I am proud. I’m a proud auditor, no exceptions allowed. I audit all day, I audit all night. I am proud to audit with all my might. Sure we screw up now and then: Enron, WordCom, the […]

Exposure Drafts: Trust Me, I Have Professional Skepticism

Exposure Drafts appears every other Wednesday (or whenever, really). Send your accounting cartoon suggestions to editor@goingconcern.com.

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Grant Thornton Admits 39 New Partners and Principals

Who are the new Grant Thornton partners? Glad you asked. The firm announced them earlier today along with new principals and managing directors, as is customary for the Purple Rose of Chicago. If you like to parse these things out, then it breaks down as: 27 partners, 12 principals and 28 managing directors. In the […]

grant thornton compensation 2017

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

By the sound of things, it’s time for us to open the gate on the Grant Thornton compensation thread. This is a little strange because, in years past, tips usually start rolling into our inbox in the last half of July. One message we received over the weekend, however, might explain the delay: Comp releasing […]

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

We’ve had a couple of requests for the BDO compensation thread, and the calendar is right, so we’re happy to oblige. One tipster that works in advisory told us “I just received an email from the partner saying to stop by his office” but added, “I don’t expect anything significant.” BDO hasn’t released its revenue […]

BDO new partners

BDO Admits 36 New Partners

Congratulations to the 36 very good boys and girls who can count themselves among the flock of BDO’s chosen ones. Okay, maybe that’s a touch extravagant for a BDO partner, but that does not diminish the achievement. This year’s class is a smidgen smaller compared to last year’s 39, but it’s still a large class […]

BDO new partners

Here’s Some BDO Partners Getting Pied in the Face

As far as good ol’ fashioned comedy bits go, a pie to the face still holds up well. It won’t get the biggest laugh, but it sure is satisfying to watch. Someone at BDO knew this and put it to work by incorporating it into their campaign to raise donations for National Red Nose Day. […]

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Let’s Play a Game of ‘Who Would Win in a Fight’ Accounting Edition

As you may have heard, busy season is over for many miserable accountants across the country. If you failed to get that memo, it’s time to avert your eyes from that spreadsheet and get some sleep, you’re obviously brain-dead and completely disconnected from the real world. Sorry. Rather than wallow in busy season gone by, […]

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BDO Auditor Had Starring Role in ‘The Spy Who Bought Me Coffee’

The Wall Street Journal reported yesterday that BDO is at the center of a messy situation with one of its clients, thanks to a super slick auditor on the inside cruising the firm’s halls: The auditor at BDO USA LLP casually wandered around the accounting firm’s New York offices, striking up conversations with colleagues about […]

grant thornton compensation 2017

Grant Thornton Making Some Tweaks to Its Unlimited PTO Policy

Last time we checked on Grant Thornton’s unlimited PTO policy, we learned that it was having at least one desired effect: people were taking more time off. The median number of PTO days taken jumped from 17.4 to 19.1. However, the comments from that article suggested that things were getting a bit out of hand. […]

How’s Grant Thornton’s Unlimited Vacation Policy Been Working Out?

Last year, the only second-tier accounting firm not cool enough to go by its inititals, Grant Thornton, announced a new paid-time off policy that would allow its employees to take unlimited vacation. Although GT employees seemed happy with the idea, the move was met by skepticism here and elsewhere.

Grant Thornton Offers Unnecessary Reminder

#ElectionDay fact: Hillary Clinton and Donald Trump are two of the most unpopular candidates in history>> https://t.co/bjeXFC2rpV — Grant Thornton (@GrantThorntonUS) November 8, 2016 Thanks, GT.

Don’t Pretend That the Presence of Three Grant Thornton CEOs Had Nothing to Do With a Cubs Victory

The first Cubs World Series win at Wrigley Field in 71 years wasn't just going to happen. The three CEO's of Grant Thornton since 2001 at the World Series tonight! Go Cubs! pic.twitter.com/jhf2lVgDba — J. Michael McGuire (@mikemcguireCLT) October 31, 2016