June 19, 2018

Big 4

KPMG South Africa VBS Mutual Bank

KPMG South Africa Calls in Reinforcements, Is Dumpster Fire

Uh oh: KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals. Let me jump in here to say that I think I’d make a fine accounting firm troubleshooter. A Big 4 Mr. […]

KPMG master's accounting data analysis

KPMG Master’s Degree Program Admits 135 into Indentured Service in 2018

As a Big 4 alumna, when I saw the KPMG master’s degree program, I immediately thought, “What’s the catch?” But before we get to the catch, let’s look at the program itself a little more. The KPMG Master’s Degree Program Per Accounting Today, the cohort of 135 program participants for the 2018-2019 start class will […]

pwc colonial award

PwC Faces Damages That Range From ‘Bad’ to ‘Worse’ But Probably Far Short of ‘Catastrophic’ for Colonial Bank Failure

Francine McKenna reports on MarketWatch that the Federal Deposit Insurance Corp. stands to collect a pret-tay pret-tay pret-tay big chunk of change from PwC for the losses from the bankruptcy of Colonial Bank. The FDIC, acting as receiver for the failed Colonial Bank Group that collapsed in 2009, has asked Judge Barbara Rothstein to award […]

ernst & young report ashley madison

Rest Assured, Seekers of Illicit Love, Ernst & Young Has Your Back

Back in 2015, the popular adulterer website Ashley Madison made news when hackers leaked the personal details of its millions of users. At that time, one of the things we learned about the site was that, not only did the number of male users greatly outnumber the number of females, the females were bots or […]

chivalry emotional restraint public accounting resize

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 [email protected] You can follow Greg Kyte on Twitter.

pwc culture

Thanks to Millennials, PwC Now Knows Their People Want Lives Outside of Work, Have the Feels

The history of PricewaterhouseCoopers goes back to 1849 when Samuel Lowell Price set up business in London. Shortly after that, in 1854, William Cooper started his firm, which would later become Cooper Brothers. It’s hard to know what either Price and Cooper were thinking about back then other than outrageous blacksmith prices and how to […]

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 […]

bdo kpmg deloitte zimbabwe

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 […]

Accounting News Roundup: Big 4 See, Big 4 Do; Tesla’s Top Accountant Leaves; Politics and Tax Breaks | 03.09.18

KPMG, PwC to include partners’ pay in gender gap calculations [FT] Following EY and Deloitte’s inclusion of partner pay, KPMG and PwC will play ball after “public pressure” in the U.K. Tesla’s top accountant and controller leaves [MW] Eric Branderiz is resigning for “personal reasons,” according to a securities filing. The company did not “specify […]