September 21, 2018

EY and KPMG Joining Forces To Create Something Rotten in the State of Denmark

There's something cooking in Denmark, folks, and it smells like a merger that will form the Big 3 1/2:

EY Denmark and KPMG Denmark have announced they are to combine operations

The proposed agreement between the fellow Big Four members is still subject to regulatory approval. As such both will continue to operate separately for the time being.

The merged firm will operate under the EY name as part of its Nordics Region.

“This agreement draws on the complementary strengths of EY and KPMG Denmark,” says Erik Mamelund, regional managing partner for EY Nordics.

“Until regulatory approval is obtained it would be premature to say anything further.”

Or, as the natives say, EY finansierer fusion med KPMG!

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SHOCKER: Number of Fraud Cases in the Courts is High

In probably the most shocking news of the day, KPMG’s “fraud barometer” reports that the number of fraud cases in UK courts in the first six months of the year are the highest since the firm started issuing the report, 21 years ago.
Here in the states, the big sexy fraud gets all the attention but there is plenty of small fraud to go around. Plus, the bright side is, we’ve haven’t seen anything yet:

“These figures are bad, but the worst is yet to come,” Hitesh Patel, a partner at KPMG, said. “It will be a number of years before the impact of the recession fully feeds through into the fraud statistics.”

So our advice would be for any of you that are nervous about layoffs, look into getting transferred to the forensic accounting practice. You won’t be out of work any time soon.
Record total of fraud cases in court – and worse to come [FT.com]

Promotion Watch: KPMG

Forgive us for being a little behind on this, we’re still twisting arms out there:
On July 15th, the Radio Station announced the promotion of 874 new Senior Managers and Managers. This compares to 1,228 that got the bump last year.
Some might say that there were less people up for promotion this year, hence the drop. Others might say “that’s because I got the axe and now live on government cheese”.
Click on the image below for a full-size view of the announcement (please note the crookedness as a sign of authenticity). Anyway, congrats to all the new taskmasters managers at KPMG!
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