January 20, 2019

Big 4

Carmine Di Sibio

Hey, So We Were Totally Right About That Carmine Di Sibio Thing

Back when Mark Weinberger announced his pending retirement from EY late last year, the tipster who provided us that information included another tidbit: that Carmine Di Sibio would take his place. Of course, spokespeeps at EY would not confirm that part, but we felt comfortable enough with their nervousness over us having that info that we […]

Hey, There Was a PwC Robot Sighting in NYC School

Back in late October, we told you about CODE-E, a robot PwC is bringing to schools to help educators teach students about technology skills and financial literacy. Because no one can teach students how to manage their money better than a non-human, right? Right. Anyway, it looks like CODE-E is starting to make the rounds […]

Driver Admits to Dozing Off In Crash That Killed PwC Senior Associate In India

The man who was driving three PwC employees to work in India on Jan. 9 told police he fell asleep right before the office pool car climbed a median divider and smashed into a lamp post, killing one of his passengers and injuring the other two. According to The Times of India, police have booked […]

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

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

Deloitte sign

Deloitte’s 2017 PCAOB Inspection Report Is Pretty Not Shitty

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

pwc colonial award

PwC Senior Associate In India Killed, Two Colleagues Injured In Rollover Car Crash

Sad news to report out of India, as three PwC employees were injured, one fatally, in a rollover car accident Wednesday morning. The three men were passengers in an office pool car and were on their way to work at PwC’s office in Kolkata, West Bengal, when the vehicle suddenly swerved to the right and […]

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

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

KPMG’s Logo May or May Not Give You Heartburn

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

KPMG IT Advisory Associate Looking for Love on ‘The Bachelor’

I don’t watch reality TV shows. They are dumb. They are contrived. They are overrated. I don’t get why so many people watch them. I would rather watch six hours straight of C-SPAN than watch a six-hour marathon of Say Yes to the Dress. If Caillou and Keeping Up with the Kardashians were the only […]

Reminder: EY Will Be Counting Ballots for This Weekend’s Golden Globes

If you tune in to watch the Golden Globe Awards on Jan. 6 and see three snappily dressed people with silver briefcases handcuffed to their wrists, you’ll know that they are the representatives from EY, which has counted the votes for the awards show since 1973. Why the handcuffs? Caleb had a theory a couple […]

PwC U.K. Drones On and On About Using a Drone for Inventory Count Audit

While you first-years were slaving away doing year-end inventory counts of grain or cakes in an industrial freezer or dildos, PwC U.K. used a drone which captured more than 300 images of a coal reserve in South Wales owned by German energy company, RWE. It was the first time PwC used drone photography to conduct […]

Richard Houston Is the New CEO of Deloitte U.K., While Dion Shango Takes the Reins Down in PwC Africa

I know this news won’t interest any of you guys, but TPTB are making us work today and Adrienne already warned you about shitposts this week. Plus, I selfishly wanted to write an article with a title that was similar to the chorus in Toto’s hit song, “Africa.” So, here we go. First, Richard Houston […]

Guy at beach

Don’t Expect Your Buddy From PwC to Answer Your Email Anytime Soon

Holidays — more specifically, time off during the holidays — are a sore subject around here. And for good reason. Other than mail carriers, accounting professionals are probably right up there as the folks who are expected to work come rain, shine, or celebration of the birth of baby Jesus. Sure, most people get Christmas […]

KPMG U.K. Employees Are Reportedly Pissed Off About Being Fined for Late Timesheets

A new timesheet policy being rolled out at KPMG U.K. is causing a little ruckus between employees and management. From The Guardian: KPMG has angered UK staff by threatening them with £100 fines if they submit their paperwork late. The accounting company said it would impose the penalties if staff were late to file their […]

Longtime KPMG Client General Electric Looking to Mess Around with Another Audit Firm

109 years. That’s how long KPMG has been General Electric’s auditor. When that engagement started, the rotund William Howard Taft was in the White House, there were 46 states in the U.S., and the start of World War I and Babe Ruth’s professional baseball career were still five years away. But the spark in the […]

Report: Deloitte’s Head of Audit Is Frontrunner to Succeed Cathy Engelbert as CEO

It has now become apparent that Cathy Engelbert won’t be serving a second four-year term as CEO of Deloitte. Michael Rapoport of the Wall Street Journal reported on Dec. 15 that Joseph Ucuzoglu, chairman and CEO of Deloitte’s audit practice, Deloitte & Touche, was nominated by the firm’s board of directors to succeed Engelbert once […]

EY Switzerland Suspends Chief Talent Officer Accused of Sexual Harassment

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

PCAOB Hands the Keys to Chief Auditor’s Office to Deloitte’s Megan Zietsman

The Public Company Accounting Oversight Board has been without a full-time chief auditor and director of professional standards since the end of May, when Martin Baumann resigned after spending nine years in that role and 12 years at the PCAOB. For the past six months, Deputy Chief Auditor Barbara Vanich has filled that position on […]

KPMG Reports Global Revenue of $29 Billion for FY 2018

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

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

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

KPMG, PwC, and EY Also Kicked U.K. Partners to the Curb for Sexual Harassment, Bullying

We learned on Dec. 9 that Deloitte U.K. had fired about 20 partners in the past four years for inappropriate behavior, including sexual harassment and bullying. The Financial Times, which broke the story, had asked the other Big 4 firms in the U.K. if they would disclose similar information. They declined. But KPMG, PwC, and […]

Deloitte sign

Deloitte U.K. Fired 20 Partners for Being Scumbags

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

Cat

Oh Hey, We Found the Absolute Worst Partner in All of Public Accounting Right Here

I wasn’t gonna write anything today and I definitely wasn’t going to write up something I found on Reddit, but when I spotted this post on r/accounting, you know I just had to. I’m passionate about two things when it comes to content on this website: cats and creeper dudes who can’t keep it in […]

NASCAR Needs Deloitte’s Help

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

Federal Judge Sides with KPMG in Gender Discrimination Lawsuit

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

Carmine Di Sibio

Here’s Everything We Know About EY’s Potential Next Global Chairman and CEO

By now, everyone has heard the news we broke Monday afternoon that Mark Weinberger is noping on up out of his role as EY global chairman and CEO, effective June 30, 2019. We were able to secure an interview with him that we’ll share with y’all soon, but in the meantime, let’s speculate wildly on […]

ernst young mark weinberger trump advisory council

Mark Weinberger Is Done Being EY Global Chairman and CEO

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

Fired Dallas Cop Amber Guyger Indicted on Murder Charge in the Shooting Death of PwC Accountant Botham Jean

A Dallas County grand jury on Nov. 30 indicted former Dallas police officer Amber Guyger on a murder charge for fatally shooting PwC Associate Botham Jean in his apartment in early September. After two days of hearing evidence this week, jurors voted this morning to upgrade the charge Guyger faces from manslaughter to murder. Guyger, 30, […]

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

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

Ignatius Sehoole Takes Over as CEO of the Dumpster Fire That Is KPMG South Africa

KPMG in South Africa has had its problems of late. And the firm believes it has found the man to help fix them. Good luck, Ignatius Sehoole! KPMG South Africa is pleased to announce the appointment of Mr Ignatius Sehoole as Chief Executive Officer. Mr Sehoole is expected to take up this role on 1 […]

Grand Jury Hears Case Against Dallas Cop Who Killed PwC Accountant Botham Jean

Evidence against Amber Guyger, the Dallas police officer who shot and killed PwC Associate Botham Jean in his apartment on Sept. 6, was finally being heard by a Dallas County jury this morning, the Dallas News reported. The Jean family’s attorneys, Lee Merritt and Daryl K. Washington, told reporters on Monday that the family was […]

Deloitte Consulting Guy Is the Frontrunner to Become Deloitte CEO Guy

The head of Deloitte’s consulting practice is the favorite to take over as the firm’s CEO … no, not in the United States but in the United Kingdom. Sky News reported on Nov. 23 that Richard Houston, Deloitte U.K.’s managing partner of consulting, has emerged as the leading candidate to replace current CEO David Sproul, […]

Turkey

This Thanksgiving, One Big 4 Firm Is Helping You Avoid Food Poisoning and Creepy Uncles

Big 4 accounting firms have gotten into lots of non-accounting business in recent years, like legal services and beef barcodes. But now Deloitte wants to add “food poisoning” to its suite of services. On Thanksgiving, what’s the only thing worse than your Uncle Harold’s stories? Food poisoning 🤮. #PlayItSafe with food handling tips from our […]

KPMG Is Thankful for SOX

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

Former EY Consultant Indicted on Hate Crime Charges for Allegedly Attacking Gay Couple, Being a Total D-Bag

Brandon McNamara, a 25-year-old former EY employee who was arrested in September for allegedly beating up two gay men outside a Brooklyn bar, faces up to 15 years in the slammer after he was indicted on hate crime charges last week. Brooklyn District Attorney Eric Gonzalez said McNamara was arraigned on Nov. 14 and charged with […]

EY, PwC Not Fans of Giving Up Non-Audit Services for FTSE 350 Audit Clients in the U.K.

After reports out of the United Kingdom earlier this month said KPMG will stop providing non-audit services for FTSE 350 companies it audits to “remove even the perception of a possible conflict [of interest],” we wondered if the other Big 4 firms in the U.K. would follow suit. Well, we have our answer. The Big […]

Deloitte, CPA Get Taken to the Woodshed in Hong Kong

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

EY Employee Shot in Las Vegas Has Made Huge Strides in Her Recovery

We’ll leave you with some good news as we head into the weekend. Tina Frost, the EY employee who was shot in the head during the Route 91 Harvest Festival mass shooting in Las Vegas on Oct. 1, 2017, is now able to talk and drive, family and friends recently told the Baltimore Sun. “She’s […]

New Dallas County DA Not Shy About Wanting Cop Who Killed PwC Accountant Charged with Murder

The newly elected Dallas County district attorney believes that former Dallas police officer Amber Guyger got off easy with a manslaughter charge in the September shooting death of PwC associate Botham Jean (pictured above). “I don’t know any police reports. I don’t know any forensic reports, but based on what I have seen, manslaughter is […]

KPMG Adds Another Independent Warm Body to Its Board of Directors

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

Scott Vetere

University of Michigan to Ex-KPMG Recruiter: ‘Keep Your Horny Ass Off Campus’

Last month, we met Scott Vetere, a 39-year-old father of three from Michigan who made a name for himself in collegiate sports in the late ’90s and early 2000s before that legacy was trumped by a series of poor choices and a little bit of hot car sex this year. In case you need a […]

KPMG Gets One-Year Auditing Ban in Oman

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

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

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

Fashionable baby

Dear Slobs and Whores with No Fashion Sense, This KPMG Video is Just For You

Those of you who know me know it’s rare that I’m speechless. I have an opinion on everything from cat food to those little sensors attached to street lights that serve to give priority to approaching emergency vehicles at intersections. And while I have an opinion about the following video I’m about to share with […]

kpmg china medical

KPMG U.K. Is Giving Up Non-Audit Work on FTSE 350 Clients. Will the Other Big 4 Firms Follow?

So, Sky News broke some pretty big news in the United Kingdom earlier this morning regarding the House of Klynveld: KPMG is to cease undertaking non-audit work for the FTSE-350 companies whose accounts it supervises, becoming the first of the ‘big four’ firms to make such a pledge in the aftermath of scandals surrounding the […]

Botham Jean’s Family Sues City of Dallas, Trigger-Happy Cop Who Killed PwC Accountant

The family of Botham Jean filed a federal lawsuit against the city of Dallas and police officer Amber Guyger late last month, claiming that Guyger used excessive force and violated Jean’s constitutional and civil rights when she shot and killed the 26-year-old PwC associate in his apartment on Sept. 6. The lawsuit—which was filed on […]

Pair of asses

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

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

Let’s All Meet ‘Cody (CODE-E),’ PwC’s Newest and ‘Creepiest’ Grunt

Earlier this morning, as I was getting ready to go to the dentist because I have a killer toothache, I heard from a tipster who told me to check out what’s going on in PwC’s Twitterverse. And this is what I saw: Today I'll be speaking at the @AtlanticLIVE #FutureWork2018 alongside two of our Digital […]

Financial Reporting Council’s Skipper Is Jumping Ship

Stephen Haddrill, beleaguered chief executive of the Financial Reporting Council, the audit regulator in the United Kingdom, is reportedly to debark by the end of the year. No surprise. Haddrill has been a marked man since early this year, his agency targeted in Parliament as “toothless,” “useless,” and “ineffective” amid an outbreak of outrage over the collapse of the […]

Ex-KPMG Partner Pleads Guilty to Using Stolen PCAOB Inspection Information

The former national partner-in-charge of inspections at KPMG pled guilty on Oct. 29 for his involvement in a scheme in which the Big 4 firm repeatedly used stolen confidential Public Company Accounting Oversight Board information to cheat the regulatory inspection process. Thomas Whittle, 55, pled guilty to wire fraud and conspiracy charges, pursuant to a […]

How Did the Big 4 Do in Snagging New SEC Audit Clients in Q3?

Answer: Nowhere near as good as Marcum, which brought 30 new SEC audit clients onboard during the third quarter—21 of which were former clients of GBH CPAs, a Houston-based firm that merged with Marcum in July, according to Accounting Today. New York-based Marcum ended the quarter netting 22 new audit clients, more than twice its […]

Scott Vetere

(UPDATE) Married Ex-KPMG Recruiter and Gym Coach Busted For Banging Young Gymnast in a Car

Whew, you guys, this one is … awkward. Scott Vetere is a 39-year-old father of three from Michigan who serves as assistant coach for the University of Michigan women’s gymnastics team, or at least he did until he resigned Oct. 15. His resignation came after Vetere was caught getting it on with an 18-year-old female […]

Dallas Cop Who Fatally Shot PwC Associate Botham Jean ‘Bragged About Being Violent’ on Pinterest

Amber Guyger, the Dallas police officer who killed PwC Associate Botham Jean in his apartment in early September, apparently said on social media that she is a big fan of “one shot, one kill” and boasted that people were “lucky” if she hadn’t gone a week without killing someone, according to a new report. Sometime […]

Ex-EY Manager’s Paternity Leave Lawsuit Against Firm Is Heading to Arbitration

A dispute between EY and a former senior manager who claims the firm fired him after he requested additional paternity leave after the birth of his child must be settled in arbitration, a federal judge in Philadelphia said last week. The plaintiff, Shmuel Eisenbach, didn’t prove that anything in the EY arbitration agreement he signed […]

Why PwC Kenya Manager Took His Own Life Still Remains a Mystery

It’s been nearly a week since Stephen Mumbo died of an apparent suicide after falling from PwC’s 17th-floor Delta Towers offices in Nairobi, Kenya, to a second-floor balcony of the building, and local authorities are still investigating why he took his own life. Reports out of Kenya surfaced earlier this week that Mumbo, an assistant […]

Ex-KPMG Executive Director Admits Guilt in PCAOB Inspection Leak Scandal

A former Public Company Accounting Oversight Board inspector-turned-KPMG executive director, who was accused of obtaining confidential information on which KPMG clients’ audits the PCAOB would be reviewing so the Big 4 firm could improve its dismal inspection results, pleaded guilty in Manhattan federal court on Oct. 16 for her involvement in the scandal. Cynthia Holder, […]

Deloitte sign

PCAOB Fines Deloitte Canada $350,000 for Breaking Independence Rules Thrice on Audits of Banro

Deloitte Canada scored a hat trick of sorts on Oct. 16, but I doubt it was celebrated among the firm’s management. The firm was censured and fined $350,000 by the Public Company Accounting Oversight Board on Tuesday for failing to maintain independence during its 2012, 2013, and 2014 audits of Canadian gold-mining company Banro Corp. […]

Re-allocating the Big Audit Market in the U.K.—Or Perhaps Not

Regulators and politicians in the United Kingdom may well disrupt the Big Audit model—judging from inquiries launched recently by the Financial Reporting Council and the Competition and Markets Authority. The series that I began on Re:Balance on Sept. 25 and Oct. 8 started to address the misguided nature of the purported “remedies.” It is making […]

KPMG Rocks signs held by a woman in a KPMG shirt

Here’s Your Open Thread for KPMG Compensation Discussions (2018)

So we might be a little late on this one, but who cares? Obviously you guys don’t, you’ve all but given up on these open threads come comp time. As such, this may be our last open thread of comp season, not just for this year but for good. It sucks we have to go […]

PwC Manager in Kenya Dies of Apparent Suicide at Work

A manager at PwC’s office in the Westlands neighborhood in Nairobi, Kenya, died on Friday morning of an apparent suicide, after he fell from the 17th floor of PwC Tower and landed on the balcony of the second floor of the building. The employee was identified as Stephen Mumbo, according to Peter Ngahu, PwC country […]

EY Thinks It Will Hire Enough People in 2019 to Fill a Small College Football Stadium

Accounting Today posted an article yesterday on EY’s “ambitious” recruiting goal of 15,000 new hires in the U.S. in fiscal year 2019. Given that EY only increased its headcount worldwide by 14,000 people in FY 2018 makes me think this has as much chance of happening as Adrienne Caleb coming back to GC. According to […]

Deloitte CEO Cathy Engelbert Is Still Talking About Her Teenage Son’s Fear of Robots

Our QOTD comes from Deloitte CEO Cathy Engelbert, who shared the stage with AT&T Business CEO Thaddeus Arroyo and CNN host Anderson Cooper a couple of weeks ago during the AT&T Business Summit in Dallas to discuss how to be an effective leader in a digital world. Cooper, who moderated the discussion, mentioned that people […]

KPMG Adds Retired Four-Star Air Force General to Its One-Star Board of Directors

No, it wasn’t Pope Francis, Malala Yousafzai, or the ghost of Nelson Mandela, as Caleb suggested last April, but KPMG U.S. on Oct. 4 appointed retired Air Force General Janet Wolfenbarger as the firm’s first independent director to its board, nearly nine months after five former KPMG executives were indicted for their roles in an […]

According to New Analysis, It Might Be Time For Big Law to Fear the Big 4

I still don’t get all this fervor around the Big 4 entering the legal market. To me, it would be like if Coca-Cola Co. and PepsiCo. started brewing beer. Yes, they’d have the brand recognition and tons of money to throw at the best people to run their brewing operations, but I don’t think AB […]

pwc legal us

PwC Global Revenue Hits $41.3 Billion in Fiscal Year 2018

You can breathe a sigh of relief, Green Dot Nation—Deloitte remains the largest accounting firm in the world. We thought maybe, just maybe, PwC would overtake Deloitte for the No. 1 spot this year, but PwC’s global revenue of $41.3 billion for the fiscal year that ended June 30, 2018 fell short of Deloitte’s global […]

‘Drunk A-hole’ EY Senior Consultant Arrested By NYPD For Allegedly Beating Up Gay Couple

It has not been a good week for fellas with the last name of McNamara who work or who have worked at EY. Brandon McNamara, 25, who reportedly is a senior consultant with EY, was arrested by the New York Police Department on Sept. 26 and faces a slew of charges for the alleged beating […]

Ex-EY Partner to CEO Mark Weinberger: ‘Let’s Make EY a Better Place to Work for Women’

In a Sept. 26 letter to EY Global Chairman and CEO Mark Weinberger, former partner Karen Ward, who filed a sexual harassment, gender discrimination, and retaliation complaint against the firm earlier this week, invited the firm’s leadership and board of directors to meet with her to “discuss my experiences at EY and additional ways in […]

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, […]

Another Former EY Partner Has Filed a Sexual Harassment Complaint Against the Firm

[Updated on Sept. 25 with allegations from the complaint, full statement from EY, and full statement from attorney Michael Willemin.] A former female partner at EY filed a complaint with the Equal Employment Opportunity Commission on Sept. 24, accusing the firm of sexual harassment, gender discrimination, and retaliation. This is the second such complaint filed […]

UPDATED: PwC Associate Shot and Killed By Off-Duty Dallas Cop Who Walked Into Wrong Apartment

Updated on Sept. 24, 2018: The Dallas police officer who was charged with manslaughter three days after fatally shooting PwC associate Botham Jean in his apartment on Sept. 6 was fired on Monday by Police Chief U. Renee Hall, according to the Dallas Morning News. Amber Guyger has been on administrative leave since the shooting […]

Lynne Doughtie KPMG

Let’s See Where Your Favorite Big 4 CEO Landed on Glassdoor’s 2018 Top 100 List

Each year, Glassdoor puts out a list of the highest-rated CEOs in the U.S., based on anonymous employee reviews and feedback. Up until last year, the annual ranking was limited to 50 CEOs, but in 2017, Glassdoor extended the list to the top 100. Good thing, because while three Big 4 CEOs made Glassdoor’s 2018 […]

Deloitte Surpassed $43 Billion in Global Revenue in Fiscal Year 2018

The numbers are in, the press release is out, and the words “exceptional,” “unrelenting,” and “quality and distinction” were used by Deloitte’s No. 1 cheerleader, Global CEO Punit Renjen, to describe the firm’s 2018 fiscal year. I have no doubt that Green Dots around the world yesterday celebrated (i.e., sat half asleep at their desks) […]

BNY Mellon Client Asset Reports Were Seriously Bungled by KPMG, U.K. Watchdog Says

Oh jeez, KPMG U.K. is in trouble again with the Financial Reporting Council. Per Reuters: KPMG and one of its partners have admitted to serious failings in compliance reports for Bank of New York Mellon, Britain’s accountancy watchdog said, potentially leading to heavy fines as the auditor comes under unprecedented scrutiny. The Financial Reporting Council […]

Mark Weinberger Says Culture Defines EY, Fails to Define What Culture Actually Is

In the slow-as-molasses, reactive world of public accounting and behemoth professional services firms, there’s no such thing as “old news.” That’s why we’re pulling this three-year-old video out of the vault so we can all point and laugh at EY Chairman and CEO Mark Weinberger talking about culture. Or attempting to, anyway. The LOLs start […]

EY Global Revenue Up 11% in Fiscal Year 2018

Here we go, folks. It’s that time of year when we start seeing the Big 4 firms releasing their global revenue numbers for the most recent fiscal year. And EY is first out of the gate. According to the numbers Mark Weinberger and company want the public to know about, fiscal year 2018 was a […]

Where, Oh Where, Is KPMG’s 2016 Inspection Report?

KPMG’s 2016 inspection report has still not been published by the Public Company Accounting Oversight Board, and the PCAOB won’t say why—or if the report will ever see the light of day. Compliance Week reports: The Public Company Accounting Oversight Board published its 2016 inspection results for Deloitte in December 2017 followed by reports for EY […]

PwC to Hold Moment of Silence in Remembrance of Botham Jean

PwC will observe a moment of silence throughout all of its U.S. offices later this week in honor of Botham Jean, a 26-year-old risk assurance associate in the firm’s Dallas office who was shot and killed in his apartment by an off-duty Dallas police officer on Sept. 6. First reported today by Bloomberg and confirmed […]

Woman jumping

PwC Tries to Lure in Recruits Who, Like, Don’t Want to Be Held Down by the Man, Man

So you did alright in high school, graduated from a decent college accounting program, and possibly even tackled a Masters to ensure you stood out from all the other blue shirts vying for Big 4 internships. What’s next for you? Well, putting in a few hours at PwC between your Prime Now delivery gig if […]

Deloitte sign

Here’s Your Open Thread for Deloitte Compensation Discussions (2018)

If the last couple years have taught us anything, it’s that Deloitte compensation conversations are probably going down this week in some offices. And by “conversations,” we mean raises are online and ratings are plotted out on scatter graphs. Semantics, ya know? In looking at last year’s Deloitte comp discussion, we discovered that y’all Green Dotters […]

kpmg china medical

Federal Judge Strikes Down Ex-KPMG Partners’ Request for SEC Evidence Search

If you’re dying to know what’s going on with David Britt, David Middendorf, and Thomas Whittle, the former KPMG partners who are accused of participating in a scandal in which confidential Public Company Accounting Oversight Board inspection information was leaked to the accounting firm, Law360 has an update: A group of former and would-be KPMG auditors […]

Woman and child at a park

PwC Has Broken Into the Cringeworthy World of Mommy Blogging

When you think of PwC, what comes to mind? Coveted internships? Bob Moritz’s hot dad glasses? Totally screwing up the one job they had at the Academy Awards? Well, get ready for PwC’s latest venture: blogging about period cramps. That’s right, y’all, PwC has ventured into mommy blogging. Once solely the domain of Scentsy-pushing stay-at-home-moms […]

Deloitte Australia Is Going to Allow Partners to Work There Until They Become Old Geezers

We’re just chock full of news about Deloitte Australia today. Earlier on, Adrienne poked fun at the firm’s ridiculous career break program. Then we come to find out that Deloitte is going to allow its partners to work there until they are frail and barely breathing—as long as they are making a meaningful contribution to […]

A young woman dancing in the street

Deloitte Brags About Its ‘Make Your Team Think You’re a Dick’ Career Program

The various perks and psuedoperks offered by accounting firms have been discussed at length here in the hallowed virtual halls of Going Concern over the years. From ping-pong tables and on-demand popcorn to so-called unlimited vacation time, we’ve destroyed them all. But one I believe hasn’t been touched on is the Deloitte career break program. That […]

Big 4 (Except KPMG) Cracks Top 10 in Vault’s Ranking of Best Consulting Firms

Vault today released its 2019 ranking of the top 50 consulting firms to work for in North America, and the top 10 spots are dotted with the Big 4. Well, most of the Big 4. For the fourth year in a row, Deloitte Consulting LLP was ranked No. 4 on Vault’s list. According to employee […]

ernst & young report ashley madison

Here’s Your Open Thread for EY Compensation Discussions (2018)

Ya know, I don’t know why we’re even bothering with this since Going Concern sucks but on the off chance one of you gets his BVDs in a bunch over us not doing it, here we are. Historically, the emails start trickling in right about this time each year, presumably after the rulers of Ernstonia are able to […]

Stop Me If You’ve Heard This One Before: FRC Reprimands KPMG U.K. for Crappy Audit

When it comes to the Financial Reporting Council and KPMG audits, it must be like shooting fish in a barrel. This time, the U.K. accounting watchdog fined KPMG £2.1 million ($2.7 million) on Aug. 20 following the Big 4 firm’s admission of misconduct on the audit of fashion company Ted Baker Plc’s financial statements in […]

A curious cow

PwC Is Getting Into the Exciting World of Fraudulent Meat

We’ve talked a lot over the last few years about accounting firms biting off more than they can chew, with ever-growing consulting arms and now even legal services, but this one takes the cake. The Telegraph reports: The accountancy firm Pricewaterhouse Coopers (PWC) is developing an edible signature with an agent used in spices and […]

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U.K. Watchdog Blasts PwC for ‘Incomplete, Inaccurate, and Misleading’ Audit of BHS

In a leaked Financial Reporting Council report, the U.K’s accounting watchdog hammered PwC for bungling the audit of BHS, which resulted in “incomplete, inaccurate, and misleading” statements being made about the now-defunct retailer’s financial situation just before it was sold for £1, according to Accountancy Age. The article states: According to the leaked report, which […]

Another Former KPMG Employee Gets Into Trouble for Insider Trading

You can add Daniel Senn to the list of current and not-so-current KPMG employees and representatives, such as Scott London, Andrei Postrado, Thomas Avent, and Phil Mickelson (but not his KPMG hat), who have either been accused of, or found guilty of, insider trading. Senn, a Klynveldian auditor from 2007 to 2013, was convicted of […]

KPMG Rocks signs held by a woman in a KPMG shirt

25,000 Students Voted For the Top Internship and the Results Will SHOCK You

Alright so twice now I’ve been called out for writing clickbait headlines now that the comment section is reopened, but whatever, what do you guys think I did in the years between getting laid off from this website last time and coming back? I WROTE CLICKBAIT. I’m not joking. One time I paid my rent […]

Judge Allows Class-Action Suit to Proceed Against KPMG Over Shoddy Miller Energy Audit

A federal judge in Tennessee on Aug. 2 declined to throw out a securities class-action lawsuit against KPMG, in which investors are accusing the Big 4 firm of screwing up the audit of now-defunct oil and gas company Miller Energy Resources Inc. In Lewis Cosby et al. v. KPMG L.L.P., the investors say they got […]

Deloitte Gobbled Up the Most New SEC Audit Clients in Q2; EY and KPMG Threw Up a Bunch of Clients

After two Utah-based firms you might not have ever heard of picked up the most new Securities and Exchange Commission audit clients in the first quarter of 2018, Deloitte was the big winner in the second quarter, snagging 15 new engagements, with a net of 13, according to Accounting Today. BDO USA was the runner-up […]

Renowned U.K. Legal Eagles PwC Made Almost $92 Million in Law Revenues in the Past Year

You better watch your back, DLA Piper. PwC is coming for ya. From Law.com: PwC’s legal operations brought in around £70 million ($91.82 million) in U.K. revenues during the 2017-18 financial year—a figure that would have put it only just outside the U.K. top 50 based on last year’s rankings. The Big Four accounting firm, which received an alternative business […]

PwC Toeing Thin Line Between Independent Auditor and Client Lobbyist for Tax Reform

Francine McKenna of MarketWatch reported on July 30 that PwC has earned $10.74 million since 2013 as the exclusive registered lobbyist on tax reform for a coalition that includes several audit clients, which some say is a conflict of interest. Members of the Alliance for Competitive Taxation—which calls itself “a group of America’s leading companies […]

Max Livingstone-Learmonth dressed as bishop at I Move London

Non-Religious Future PwC Partner Credits ‘Divine Intervention’ For Nabbing Purse-Snatcher

The Evening Standard reports that a soon-to-be PwC partner got to play the hero in the midst of a potentially record-breaking relay race in London, all while dressed like a bishop. Forty-year-old Max Livingstone-Learmonth was on his 10km (about 6.2 miles) leg of the I Move London race when he spotted a woman chasing a […]

Older Job Seekers Denied Class-Action Status in Age Discrimination Lawsuit Against PwC

A federal judge in San Francisco rejected class-action status to a group of up to 14,000 older job applicants on July 26 who are accusing PwC of favoring younger workers over individuals over the age of 40 for entry-level positions within the firm. The age discrimination lawsuit, which was filed in April 2016 by CPA […]

Do KPMG’s Summer Employee Perks Put All Other Summer Employee Perks to Shame?

This Accounting Today article on the perks KPMG is offering to its 30,000 U.S. employees this summer got me thinking about the summer employee perks, or lack thereof, I’ve received during my career. And I’m not just focusing on my last 19 years as a writer and/or editor. I’m going all the way back to […]

Here’s Your Open Thread for PwC Compensation (2018)

So, yeah, the whole “putting the 2018 PwC compensation thread in Open Items” thing didn’t go too well. After just two responses (thanks to SlowlyDying1065 and Franchise) and a minus-27 vote rating, this thread had become a dumpster fire. But now that we’ve resurrected the article comment section, we’ve taken this discussion out of Open […]

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KPMG U.K. Lawyers Up Because Not Breaking the Law is Hard, You Guys

The Financial Times did not hold back in its headline announcing the news on KPMG U.K.’s latest hire earlier this week: KPMG appoints risk management chief after accounting scandals. Ouch. Here, KPMG, you might need this. So just who is this brave individual willing to take on a brand-new role at a scandal-plagued accounting firm? […]

Setback in Court For Ex-KPMG Execs, As Judge Refuses to Toss Out Counts in PCAOB Inspection Info Leak Case

As Mick Jagger sings, “You can’t always get what you want.” What three former top KPMG executives and two former employees of the Public Company Accounting Oversight Board—who are accused of participating in a scheme in which confidential PCAOB inspection information was shared with the accounting firm—wanted was for their conspiracy and wire fraud counts […]