coronavirus

Arthur Andersen & Co.

Pay Cut Watch: Did Andersen Lay the Smack Down On Its Employees?

According to this Reddit post on Tuesday, Andersen is another firm that seems to be squeezing its employees to work the same amount (or maybe more) for less money during the COVID-19 crisis … and even after the virus is defeated: I tried earlier today to get this confirmed with a few people but wasn’t […]

Pay Cut Watch: Apparently Everyone Is Feeling the Pain at Carr, Riggs & Ingram

[Updated with additional information.] Two sources have confirmed this evening what was posted on Fishbowl and Reddit earlier today, that Carr, Riggs & Ingram doled out pay cuts across the board that will reportedly last through the end of the firm’s fiscal year. According to a source, staff pay will be cut by 10%, income […]

Layoff Watch ’20: It Has Been a Terrible Tuesday For Some Folks at Armanino

Ugh, the hits just keep on coming. We’ve received two tips today about layoffs going down at Armanino, specifically in Los Angeles and Dallas. We’re not sure if any of the firm’s other locations have been impacted. What we’ve been told is that 8% of Armanino’s workforce was let go today. We don’t exactly know how […]

PwC Australia Staffers Looking at Pay Cuts of Up to 40%

Another day, another big accounting firm slashing staff salaries during the COVID-19 pandemic. This time it’s PwC Australia. At least P. Dubs hasn’t laid anyone off (yet) like KPMG Australia did. The Australian Financial Review reported today: Big four consulting firm PwC will cut the hours and pay of under-utilised staff by up to 40 […]

Layoff Watch ’20: Berdon Let Go of 15 People, Postpones Partner Distributions

Another top 50 accounting firm based in New York City has laid off employees during the COVID-19 crisis. We got a tip on April 3 that there was a number of staff layoffs at Berdon LLP and the third-party outsourcing group based in India had also been let go. But our source didn’t know the […]

Grant Thornton Reducing Partner Draws By 25% For the Rest of FY 2020

[Updated with message from CEO Brad Preber to Grant Thornton staff.] Yesterday evening as I was on my way home from picking up some Red Robin for dinner for me and my family, we got a text on the tipline that Grant Thornton partners in the U.S. are taking a 25% pay cut. That was […]

KPMG US Update: Partners Taking Pay Cut, No Variable Compensation, No Omaha Steaks

[Updated with additional information.] OK, here’s what we were told today about the video message from KPMG CEO Lynne Doughtie that was posted internally last night. What we know is pretty much the same as what has been posted so far to Reddit and Fishbowl. Basically what we were told by a source was Lynne […]

CliftonLarsonAllen Is Cutting Staff Pay By 10%, No Layoffs Planned

[Updated with additional information.] During the afternoon on Friday, someone posted on Reddit that CliftonLarsonAllen had announced earlier in the day 10% pay cuts to all employees. Checks out. Here’s what came through the tipline late Friday afternoon: CLA announced this morning in a firm-wide webcast that they will be reducing all compensation by 10% […]

BDO USA Is Cutting Everyone’s Pay to Stave Off Layoffs

[Updated with additional information.] Just got this from the tipline: [BDO USA CEO] Wayne Berson just announced we were taking a 5-10% paycut at all levels (salaried) from May 1st-August 1st (St Louis is the one exception, they’re starting May 16). Hourly is the same, just starting one or two days later after the salaried […]

Layoff Watch ’20: KPMG Australia Slashes a Couple Hundred Jobs

First it was KPMG Canada earlier in the week, now Edmund Tadros of the Australian Financial Review is reporting some grim news regarding job cuts at the Australian House of Klynveld: Professional services firm KPMG will cut 200 roles and slash the pay of equity partners by almost 17 per cent in response to the […]

Let’s Count How Many Different Sports You Can Play at PwC Chairman Tim Ryan’s House

We know PwC Chairman Tim Ryan is a workout fiend who loves playing and watching hockey. But judging by a photo he posted on Twitter a couple weeks ago, he and his kids love A LOT of other sports too. Shortly after PwC announced that it was closing its offices and going into work-from-home mode […]

Layoff Watch ’20: KPMG Canada Seems to Be Going On a Pink Slip Frenzy

[Updated with additional information.] We’ve heard from a couple people on Tuesday morning who confirmed what we saw on Reddit last night about layoffs that have occurred at several different KPMG locations in Canada. Unconfirmed reports put the number of layoffs at around 200 throughout the country. Here’s one message we got on the tipline […]

Layoff Watch ’20: Friedman Cut a Bunch of People Loose

[Updated with additional information.] Remember that article we posted last week about layoffs? You know, the one about that recent Fishbowl survey that revealed 41% of accountants believe job cuts will happen at their firm because of the COVID-19 pandemic? Unfortunately that became a reality on March 26 for more than 50 people who worked […]

Let’s See How the Big 4 Firms In India Are Faring During the COVID-19 Pandemic

[Updated with additional information.] This GIF from Mad Men pretty much says it all, but things could be worse. To our knowledge, there haven’t been any pandemic-related layoffs … yet … at any of the Big 4 firms in India. I kinda buried this in the article we posted last week on accountants’ layoff predictions […]

KPMG U.K. Chairman Diagnosed with COVID-19

The Financial Times reported this afternoon that Bill Michael, chairman of the Queen’s KPMG, has tested positive for COVID-19 and has been hospitalized. Mr Michael, who took over the Big Four accounting and advisory firm in 2017, has been in hospital for one week after becoming unwell but was only diagnosed with the Covid-19 virus […]

Second Quarter CPA Exam Testing Window Extended Due to Coronavirus-Related Test Center Closures

The Journal of Accountancy is reporting today that NASBA, the AICPA, and Prometric have made a joint decision to extend the second quarter CPA exam testing window due to COVID-19 Prometric closures. As it stands, Prometric testing centers in the United States are closed through April 16, though NASBA has said that period could be […]

KPMG CEO Lynne Doughtie Assures Employees No Layoffs Are Coming

We got a tip this morning which we were able to confirm with two other sources that in an internal firm video we think was sent to employees last night, KPMG CEO Lynne Doughtie said protecting KPMGers during the crisis caused by the COVID-19 outbreak was her first priority and that layoffs would be an […]

The COVID-19 Pandemic Is Causing Many Accountants (and a Whole Lot of Consultants) to Freak Out About Losing Their Jobs

OK, let’s talk about layoffs and accountants. The COVID-19 pandemic and the resulting dumpster fire that is the U.S. economy has quite a few capital market servants worried about losing their jobs. And some have taken to sites like Fishbowl and Reddit to voice their concerns. The thing is, nobody knows what’s going to happen. […]

Number of the Day: 124%

Because a good deal of you guys are now working from home, accountants contributed to VPN usage in the U.S. increasing 124% between March 9 and March 22, according to data from Atlas VPN. From March 16 to March 22, VPN usage increase 71%. During the last two weeks, VPN usage in the US increased […]

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Death of PwC Indonesia Staffer Marks Possible First Big 4 Coronavirus Casualty

Sad news out of Indonesia, as a member of the PwC family has seemingly lost his battle with coronavirus. This is the first suspected COVID-19-related death we are aware of involving an employee of a Big 4 firm. PwC Indonesia Territory Senior Partner Irhoan Tanudiredja released a statement in which the staffer is not named; […]

COVID-19 Is Not the Only Virus One Small Accounting Firm Owner Is Worried About

This came through the Help line the other night, and because Open Items has been a barren wasteland since Caleb left nearly two years ago, I thought I’d post it here to see if we could help this person out. I’m a retired CPA who’s working during tax season for a small, local practitioner. She […]

Tracker: These Public Accounting Firms Are In Mandatory Work-From-Home Mode

Did you ever think you’d see the day that something would cause some of the largest public accounting firms in the nation to temporarily close their offices and force everyone to work from home? I didn’t, but thanks to the COVID-19 pandemic, here we are. Based on tips we’ve received, as well as scanning Twitter […]

Marcum Temporarily Going to 40-Hour Workweek, Except For You New York City Folks Who Are Not In Tax

If you need another example of why public accounting firms get a bad rap for being more concerned about dollar signs and clients than their employees, that they’d rather their capital market servants be billable than healthy—both physically and mentally—look no further than this email sent to Marcum’s New York City employees on March 19 […]

Mnuchin Announcing Extension of Tax Filing Deadline On Twitter Is the Most 2020 Thing Ever

Americans get three extra months to file their 1040s, per this tweet from Treasury Secretary Steven Mnuchin. At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties. — Steven Mnuchin (@stevenmnuchin1) March 20, […]

The AICPA Really Wants Tax Professionals to Flood Steve Mnuchin’s Inbox

The AICPA was pretty damn confident the Treasury Department and the IRS would extend the April 15 filing deadline for individuals due to the COVID-19 pandemic, so confident that the AICPA told CPAs in an emailed message last weekend that they anticipated this week that Tax Day would be extended by 90 days and that […]

FYI, CPA Exam Candidates, COVID-19 Just Killed Prometric

Whelp it’s official, no one is going to be taking the CPA exam anytime soon. Prometric announced yesterday they are taking steps to close all testing centers in the United States and Canada for 30 days. Let’s check out the details: Within the past 24 hours, the US Centers for Disease Control (CDC) have issued […]

Even the PCAOB Is Now Hunkering Down at Home

This was just emailed to us by the PCAOB and has since been posted to its website. In case you haven’t heard yet, the PCAOB is going the mandatory work-from-home route too, effective immediately. The message says: The Public Company Accounting Oversight Board (PCAOB) is providing the following update on our current operations in light […]

Another EY Employee In the U.S. Has Come Down with Coronavirus

According to an internal email sent yesterday to EY employees in the Washington, DC area, there’s been another confirmed case of COVID-19 among the firm’s ranks, this time in Virginia. A tipster passed along the email to us, which was sent by Richard Jeanneret, Americas vice chair and US-East region managing partner, and Kevin Virostek, […]

Deloitte CEO Eventually Sent Out the Mandatory Work-From-Home Email

First it was EY, then it was PwC, now Deloitte has told its U.S. staff not to bother coming to the office for a while because of the COVID-19 pandemic. But unlike EY and PwC, which will be full-on remote work beginning tomorrow, Green Dotters will have to wait until Wednesday. Thanks to a tipster, […]

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EY, PwC Jumping On the Mandatory Work-From-Home Bandwagon Due to COVID-19

Thanks to a tipster, here’s the email EY U.S. Chair Kelly Grier sent to all EYers Sunday evening regarding where they’ll be working for the foreseeable future: I’m reaching out this evening to express my recognition and concern for the evolving situation involving COVID-19 and the complexity and uncertainty it’s causing across our daily lives. […]

RSM US Joins the Mandatory Work-From-Home Party

Today’s been one of the most crazy and, in my opinion, unprecedented days we’ve ever seen covering public accounting, where three of the Big 4 and a slew of other firms are ditching their U.S. offices and going strictly remote work for the time being because of COVID-19. A tipster let us know this evening […]

Grant Thornton Canada Is Totally Giving Its Hourly Employees the Shaft

Hey, accounting firm CEOs, listen up. A global pandemic is not the time to be screwing your employees—salaried and hourly—out of pay and/or their PTO time. Grant Thornton in the U.S. is seemingly taking care of all of its employees as the firm has transitioned to all remote work until at least the end of […]

Marcum Is Finally Taking This COVID-19 Thing Seriously (At Least For This Week)

You can add Marcum to the ever-growing list of accounting firms that are temporarily going all remote because of the coronavirus pandemic in the U.S. But of course not until tomorrow; there’s a tax deadline to wrap up first. A tipster sent us the email Marcum Chairman and CEO Jeffrey Weiner sent to his capital […]

The AICPA Is Pretty Sure the April 15 Filing Deadline Is Gonna Be Extended, You Guys

Several CPAs have posted on Twitter, Fishbowl, and Reddit the following communiqué they received Sunday afternoon from the AICPA regarding both the April 15 and the March 16 filing deadlines: While tax season 2019 was considered by most as one of the worst tax seasons on record, tax season 2020 might go down as the […]

COVID-19 Is In EY NYC Offices

From the tipline (thanks, tipster!) we have this email that went out to EY staff this afternoon. Last we heard there was a KPMG employee affected in Northern Virginia who visited EY offices but this is new. Dear all Tri-state EY people, There has been a confirmed case of coronavirus (COVID-19) with an EY employee […]

Apparently, PwC NYC Staffer Is a COVID-19 Victim

According to a post on r/accounting, PwC closed its two offices in New York City this weekend after a NYC employee tested positive for the coronavirus. Covid19 case at pwc NYC office from Accounting Also, posts on Reddit and Fishbowl have indicated other cases of COVID-19 in Big 4 U.S. offices, which we haven’t confirmed […]

Grant Thornton Is Going All In On Working From Home During the COVID-19 Pandemic

While many accounting firms are “empowering” and “encouraging” their employees to work from home during the coronavirus outbreak, but still ultimately leaving it up to them to make that decision, Grant Thornton employees had that decision made for them yesterday. A tipster sent us this message that all GTers received from CEO Brad Preber on […]

Dear Summer Interns, Your Offer Is (Probably) Gonna Be OK

I’ve noticed a few “I’m supposed to do a summer internship for [insert Big 4 firm here], will Coronavirus affect my offer?” posts on Reddit lately so I figured we should probably address the issue. I apologize in advance for all the COVID-19 coverage around here, it’s the most exciting thing to happen since we […]

Busy Season Problems: COVID-19 vs. April 15, No Psychic Powers, IRS Hang-Ups

Got a busy season problem? First, put on some hand sanitizer. Then email us at tips@goingconcern.com with “Busy Season Problems” in the subject line. Or you can text us at (202) 505-8885. News broke yesterday evening that the Treasury Department was seriously considering pushing back the April 15 filing deadline because of the coronavirus outbreak […]

BDO Employee In Canada Infected with Coronavirus

BDO is the first non-Big 4 firm that we know of that reportedly has an employee in Toronto who tested positive for COVID-19. Here’s what Global News in Canada reported on March 10: Global News has obtained a memo sent to workers at BDO Canada on Wellington Street East in Toronto advising them that a […]

SEC Employees In DC Will Be Working From Home for the Time Being

While some accountants are wondering why their firms haven’t told them to just work from home until the coronavirus hysteria dies down, the SEC told its employees in Washington, DC, just that in an email yesterday. The Washington Post reported: The Securities and Exchange Commission on Monday asked employees at its D.C. headquarters to stay […]

Deloitte Philippines Confirms Case of COVID-19

Another Deloitte employee has tested positive for coronavirus, this time in the Philippines, the firm said on Saturday. Deloitte released this statement earlier today: We can confirm that a colleague in our Deloitte Philippines office has tested positive for COVID-19. The colleague is currently in hospital receiving treatment and further tests, and Deloitte is supporting the […]

Here’s Everything You Need to Know About How Coronavirus Might Affect CPA Exam Testing

Earlier today Bramwell and I were shooting the shit in Slack and both of us wondered why they haven’t just postponed CPA exam testing altogether until this whole coronavirus thing blows over. I mean, I don’t even want to think about the cooties that live at Prometric during normal times, much less during a global […]

Rumor of the Day: Some KPMG Auditors Are Getting a Break From Clients Because of Coronavirus Panic

So, some audit clients have allegedly told KPMG auditors not to come to their offices because of coronavirus concerns, according to a post on Fishbowl. We don’t know if these KPMG audit clients legitimately have COVID-19 concerns or, as one Fishbowl poster says, they just want the auditors off their backs for a bit. Anyway, […]

EY Madrid Confirms Employee Has Tested Positive for COVID-19

Another Big 4 firm has confirmed a case of coronavirus among its ranks. This time, an employee at EY in Madrid has tested positive for COVID-19, according to Reuters. An EY spokesperson told Reuters earlier today that the firm sent approximately 3,000 employees from its offices in Madrid home to work: “There’s one person who […]

The Coronavirus Panic Is a Perfect Opportunity to Discuss Why We Need Better Work-From-Home Policies

So I’ve been sick lately. I never get sick. In fact, I pride myself on this. I imagine it has something to do with the fact that I spent over a decade of my life in San Francisco being exposed to Lord knows what cooties live in BART seats. I am to not getting sick […]

Deloitte U.K. CEO Says Employee Has Coronavirus

In an email to staff on March 3, Deloitte U.K. CEO Richard Houston said one of the firm’s London employees who recently vacationed in Asia has been hospitalized after testing positive for coronavirus, the Financial Times reported. Deloitte said it was “deep cleaning” one floor of its offices in London but hadn’t quarantined its New […]

Grant Thornton Economist Says Coronavirus Is an ‘Economic Pandemic’

“We know a health pandemic is global in scope, and although this has not been called a health pandemic yet, it may get there, we are seeing a global in scope reaction to the virus. As countries move to contain the virus, those actions in and of themselves are disrupting global economic activity, and that […]