coronavirus

Layoff Watch ’20: PwC Canada Confirms It Is Handing Out Pink Slips

Ugh, here we go again. Another big Canadian firm is cutting employees during the pandemic, and today’s victims are from PwC. We got this tip around lunchtime today: Lay offs have started in a few offices in PwC Canada, including me. I’m only aware of assurance and some admin staff at the moment. Lay offs […]

Newly Promoted RSM US Employee Ponders Life and COVID-19’s Impact on Future Earnings

RSM US isn’t making it rain much these days for those receiving a promotion. Compensation discussions are underway at RSM US, and if you remember, only those getting a promotion at the House of Adams are receiving raises—which were capped at 5% this year as the firm muddles its way through the COVID-19 crisis. Looking […]

KPMG Employees Won’t Be Returning to the Office Anytime Soon

By the time KPMGers in the U.S. are finally allowed to leave their home offices to get reacquainted with their cubicles, fashion rules stipulate they won’t be able to wear white to work. The new KPMG leadership team sent a message to employees on July 13 that maybe they’ll be able to return to their […]

California Board of Accountancy Has Caught Everyone Up on the Whole Application Delay Situation

Since the very beginning of the COVID-19 pandemic, we’ve heard and read complaints from CPA exam candidates that the benevolent overlords of CPA licensure have failed to properly communicate ever-changing procedures, plans, and timelines. Now, although candidates’ position on the matter is understandable, what with the CPA exam being one of the hardest things they’ll […]

Layoff Watch ’20: PwC to Sever Ties with 5% of Its Workforce In Australia (UPDATE)

[Updated on July 14 with additional information.] The Australian Financial Review is reporting today that PwC Australia has begun the process of relieving 400 employees of their duties with the firm, which PwC said will take about two weeks to complete. Those facing redundancy have been, or will be, invited to a meeting with a […]

Tracker: These Accounting Firms Have Either Cut Jobs or Pay (or Both) During the COVID-19 Crisis

[Updated on July 14 with information about Andersen, BDO Canada, EY Canada, PwC Brazil, PwC US, and RSM Canada.] In case you haven’t noticed, there have been a lot of salary reductions and jobs lost throughout public accounting over the past couple weeks as a result of the coronavirus pandemic. And it sucks. So we’ve […]

Hiring Tracker: These Accounting Jobs Need to Be Filled Right Damn Now

[Updated on July 14 with job openings at Perkins & Co. and Weaver.]  Welcome to Going Concern’s Hiring Tracker, which we hope becomes a resource for accounting professionals who recently lost their jobs during the COVID-19 crisis. We’re asking public accounting firms, companies with openings in their accounting/finance departments, and even nonprofits that need to […]

Layoff Watch ’20: Rumor Has It That PwC Brazil Let Go of 600 Employees

[Updated on July 11 with additional information/comments.] A tipster brought to our attention this morning that several people on his LinkedIn feed who worked at PwC in Brazil no longer work at PwC in Brazil as of July 9. Here are a few of the posts, translated from Portuguese to English: And today my journey […]

Here Are the Accounting Firms That Received PPP Loans Because We Know You Want to Know

As you may have seen by now, the U.S. government has recently released data on which companies received PPP funds, and anyone with more than $150,000 from Uncle Sam in their pocket had some ’splainin to do had they also laid off staff en masse. We figured a few accounting firms would be on the […]

Layoff Watch ’20: At Least One BDO Canada Office Is Downsizing Its Headcount

[Updated on July 10 with additional information.] Unfortunately we are hearing more news of Canadian accounting professionals losing their jobs. Although we haven’t been able to confirm yet if there have been firm-wide job cuts at BDO Canada, we were told by a source at BDO in Vancouver on July 9 that several people at […]

Layoff Watch ’20: PwCer Claims Performance Ratings Are Purposely Being Bumped Down to Make Separation Decisions Easier During the Pandemic (UPDATE)

[Updated on July 10 with additional comments.] During the numerous webcasts PwC has held with employees in the past two to three months, PwC leadership has supposedly repeatedly stressed that there would be no layoffs related to the COVID-19 pandemic, and if you go on the usual chatter sites, most PwCers believe that. But the […]

Layoff Watch ’20: EY Canada Job Cuts Are Underway

[Updated on July 9 with additional information.] A couple months ago, we heard rumors that if EYers in Canada didn’t take voluntary unpaid time off and cut back their billable hours, there would be job cuts. Welp … EY Canada is starting a wave of layoffs. Does not appear to be a large round, but […]

Layoff Watch ’20: RSM Is Apparently Lightening Its Load In Canada

Hearing word today that RSM Canada has started handing out pink slips, and the culprit seems to be lower-than-expected revenues due to a downturn in business caused by the COVID-19 pandemic. According to a source, a practice leader sent out this email to staff on Tuesday: Although as a firm we remain in a strong […]

Attention Accounting Students, the AICPA Is Giving Away Money Because COVID-19 Was Such a PITA

At this point, all of us have been affected by the Rona in one way or another (or many as the case may be), and I don’t need to waste precious word count rambling on about it. For some, the hit has been mostly a financial one, as we’ve seen week after week in the form of […]

It Seems Andersen Employees Are Getting Back the Money That Was Taken Away From Them

From the tipline today: Andersen employees were made whole through 6/26 based on current numbers. Employees received a separate check/deposit of the balance on our 7/3 payday. We will learn more about another potential check/deposit by 8/31. We are also receiving $75/month stipend to put towards home office materials. There have still been no layoffs. […]

Deloitte Australia Has This Corporate Bullying Thing Down Pat

“It’s using COVID as a lever to change their working conditions. They have no choice — if they say no to the pay cut, they may lose their job, if they say yes, they might lose their job anyway. “Most would have accepted a pay cut because they thought it would save jobs. “In their […]

Comp Watch ’20: BDO USA Is Restoring Everyone’s Pay—But Promotions and Raises Will Have to Wait

Hope everyone had a good weekend celebrating the ol’ red, white, and blue. Speaking of red, white, and blue, the firm that sports these colors, BDO USA, is ending pay cuts effective Aug. 1, according to sources. You gotta hand it to BDO thus far. The firm cut employee pay 5% to 10% in early […]

EY’s Care Kit for Employees Does Not Include Pancake or Waffle Mix

But the care kit EYers received for their eventual return to the office does include reusable cloth masks, hand sanitizer, and a forehead thermometer (not pictured below). The source who sent us the photo, whose spouse works for EY, called the care kit “a legit, nice, late gesture from Uncle Ernie” and added that the […]

Layoff Watch ’20: EY Is Cutting Ties with Nearly 100 Employees In Israel

Today is New Year’s Eve Eve in the Ernstiverse, and with the 2021 fiscal year starting on Wednesday—and with COVID-19 not going away anytime soon—we’ve been told that quite a few EYers in the U.S. will be shown the door soon. Rumors have been swirling for a while now—from 300 of the 3,600 (8.3%) U.S. […]

Layoff Watch ’20: What In the World Is Happening at Deloitte Canada? (UPDATE)

[Updated on June 26 with additional information.] It’s been almost two months since the Great Deloitte Canada Layoff of 2020, which was followed by layoffs of 5,000-plus people and 700 people at Deloitte U.S. and Deloitte Australia, respectively—all the while Deloitte’s tone-deaf global CEO is tweeting about how Deloitte is helping its people thrive through […]

Layoff Watch ’20: Many Furloughed Moss Adams Employees Are Not Getting Their Jobs Back

[Updated on June 26 with additional information.] A source at Moss Adams told me that, according to a video message from CEO Chris Schmidt today, 103 of the 370 furloughed employees were let go on Thursday. [Updated on June 25 with additional comments.] Another sucky day in public accounting during this pandemic. We’ve been told […]

Carr, Riggs & Ingram Is Giving Employees Their Full Pay Back … Soon

Here’s the latest coming out of top 20ish accounting firm Carr, Riggs & Ingram, according to a couple of tips we got on Thursday night. Carr, Riggs & Ingram restoring income partner and staff pay a month early – Aug 31. And … Managing Partner sent out a firm wide email today. They plan to […]

What COVID-19 Tells Us About … SALT

COVID-19 may be the newest exacerbator of high blood pressure in humans, and it is having an effect on another well-known catalyst for stress, SALT. But this is not your old-fashioned table variety we are referring to. In the accounting department at the University of Maryland’s Robert H. Smith School of Business where I teach, […]

Layoff Watch ’20: Deloitte’s Purging Continues, This Time In Australia

Deloitte, which couldn’t help patting itself on the back last week for forecasting a record-breaking $48 billion in global revenue for FY 2020, has just sent hundreds of more employees to the chopping block. First, the firm sent between 300 and 400 Canadian employees packing in May, then more than 5,000 U.S. employees have received […]

Moss Adams Decides Its Employees Have Suffered Enough, Ends Pay Cuts Two Months Early

Some good news out of Seattle, as Moss Adams is ending employee salary cuts earlier than expected—the second top 12 U.S. accounting firm to do so this month. Back on Good Friday, Moss Adams announced some pretty drastic cost-cutting measures because of the COVID-19 pandemic, including: Employee pay cuts ranging from 5% to 20%. 20% […]

Layoff Watch ’20: Grant Thornton U.K. Is Forcing 70 Employees to Take Early Exits

Over the past three months, we’ve chronicled as best we could all the job cuts—which unfortunately have affected several thousands of professionals so far—that have occurred at U.S. public accounting firms during the coronavirus pandemic. Incredibly we haven’t been made aware of or read about any layoffs that have gone down at the biggest accounting […]

Comp Watch ’20: Raises and Bonuses Are Looking a Bit Paltry at RSM US

If we look back at the firms in ’Murica that have sent the most people packing during the COVID-19 pandemic, three immediately come to mind: Deloitte (obviously), Crowe, and RSM US, which had not one but two rounds of job cuts. Those left standing at RSM must be feeling pretty resilient, having somehow dodged two […]

Bonus Watch ’20: PwC Is Kinda, Sorta Going Forth with Bonuses, Raises (UPDATE)

[Updated on June 12 with additional information.] So we were told today by a couple of people that PwC had a webcast for new hires on Thursday, led by Chairman Tim Ryan, U.S. Recruitment Leader Rod Adams, and a couple of other people. Once the spiel about what PwC is doing to address the COVID-19 […]

Layoff Watch ’20: Deloitte Has Begun Handing Out Thousands Of Pink Slips (UPDATE)

[Updated on June 12 with some additional information.] We’ve got some new info to share today, at least from the Deloitte & Touche side of things. A tipster told us the following things were said by D&T CEO Lara Abrash this morning during a call with her audit and assurance peeps: She confirmed what we […]

Does Punit Renjen Not Realize Deloitte U.S. Is Laying Off Thousands of People During a Pandemic?

While I’m sure he had good intentions, the timing of this tweet by Deloitte Global CEO Punit Renjen is a little questionable given that Deloitte U.S. is currently getting rid of roughly 5,000 or so employees and furloughing many more during the COVID-19 crisis. How’s that helping these people thrive during the worst pandemic in […]

Rumor Mill: Grant Thornton Canada Employees Are Still Being Asked to Work Crazy Hard Despite Reduced Hours and Pay

While other big Canadian firms are strongly encouraging their staffs to voluntarily scale back their billable hours and take a reduction in pay (but not in their workloads) for the sake of saving jobs (even though that didn’t work out too well at Deloitte), folks at Grant Thornton aren’t being voluntold to do this, they’re […]

CliftonLarsonAllen Is Giving Employees Shorter Duration of Pay Cuts, Consolation Bluetooth Speakers (UPDATE)

[Updated on June 9 with additional information.] We’ve got an update on what’s happening over at C to the L to the A. About a week or so ago a Redditor posted that CliftonLarsonAllen said it was cutting the duration of employee pay cuts by two months, ending now on Oct. 31 instead of Dec. […]

Rumor Mill: PwC Canada Strongly Encouraging Tax Staff to Work Less So They Don’t Have to Fire You

PwC of the Canadian variety is apparently asking forcing its tax staff to volunteer agree to reduce their work hours with a corresponding reduction in pay to avoid layoffs. Hmmm, how did that work out for Deloitte Canada? Here’s a tip we got over the weekend: PwC Canada Tax announced this week: All staff can […]

Despite Working More Hours, Professionals Say They Hope WFH Stays Post-Coronavirus

Today we have two surveys from our friends at Fishbowl to share with you, conveniently enough they have a bit of overlap so we figured why not just make a big ole survey sandwich. First off, Fishbowl surveyed more than 16,000 professionals across a variety of industries, including accounting, and asked a simple question: Are […]

Deloitte Sued By Unemployed Ohioans Who Are Unhappy Their SSNs and Addresses Were Visible For All to See

Welp, that didn’t take long: Deloitte Consulting LLP was hit with two suits by people who claim their personal information was exposed on state websites the firm built to administer supplemental coronavirus unemployment benefits. A group of Ohio residents sued Deloitte late Thursday in Manhattan federal court, after officials in that state, Illinois and Colorado disclosed […]

Summer Internship Roundup 2020: Everyone’s Gone Virtual

[Updated on May 25 with additional information about BDO USA.] For every 20 to 25 tips we receive about layoffs and pay cuts at public accounting firms during the COVID-19 pandemic, we get one about some firm’s virtual extravaganza being offered to summer interns this year. Yep, virtual. None of that worthwhile public accounting experience, […]

Deloitte Is Giving Unemployed Gig Workers In Some States Something Extra to Worry About

Imagine being an out-of-work independent contractor living in Ohio during this pandemic, anxious and unsure of when you’re actually going to get some financial assistance from the state because Ohio’s unemployment systems are being blown up with regular unemployment claims. Finally you get word that you can now file for unemployment benefits through the new […]

Friendly Reminder: Expect Continued Difficulties Scheduling CPA Exams

At this point, we all know CPAs were determined to be “essential” and therefore allowed to resume CPA exam testing when Prometric re-opened on a limited basis May 1. And we all know that some testing centers are open only for specific med-based testing, meaning future healthcare workers are given priority over other “essential” testing. […]

What Tim Ryan Learned About PwC During the Pandemic Also Applies to Roofers

“I think what we’ve learned is that it’s always better to control your destiny when you can. And I want to be clear, we made a zillion mistakes. I don’t want to come across as we batted a thousand, because we didn’t. But I think what we’ve learned is that it’s always better to control […]

Furlough Watch ’20: Apparently RSM US Is Putting Many Of Its Recruiters On Ice, Conducted Second Round of Job Cuts

[Updated on May 20 with additional information.] Nearly a month after RSM US told a slew of underperformers that their services were no longer wanted, we got word on Monday afternoon that furloughs and job cuts have started to hit the firm’s recruiting staff. A source told us: As of right now, it is most […]

‘Reality Star’ Charged With Fraud Says the Government Totes Didn’t Make It Clear That PPP Loans Weren’t Meant for Cars and Jewelry

A mere two weeks ago we saw the first of what promises to be many, many PPP loan fraud charges when a pair of fine, upstanding gents from Rhode Island were nabbed by the Department of Justice. David A. Staveley, aka Kurt D. Sanborn, 52, of Andover, MA, and David Butziger, 51, of Warwick, RI, […]

A Surprising Number of Professionals Are Going Pantsless on Video Conference Calls

It’s been a little more than two months since the world came to an abrupt stop and most of us got locked inside. While some people have been enjoying having the permission to day drink and binge Netflix on weekdays, others have been feeling cagey for some time now (*raises hand*). Still others aren’t even […]

EY Netherlands to Partners: Umm, Please Give Us Some Capital

EY Netherlands partners are answering the call to help pad the Dutch firm’s coffers because business kinda sucks right now due to the Rona pandemic. Bloomberg reported earlier this week: EY’s Dutch unit is asking its partners in the Netherlands to stump up funding to help it confront the blow to its business from Covid-19 […]

State Boards of Accountancy Are Slowly But Surely Starting to Grant 18-Month CPA Exam Extensions

The current situation with CPA exam testing is difficult, you don’t need me to tell you that. In the 13 years I’ve been working in this industry I’ve never seen anything like it, and it goes without saying that it’s a fluid situation. That said, it’s excellent to see CPAs recognized as “essential” in the […]

Please Don’t Call Deloitte If Your House Is On Fire

“Hiring Deloitte [to manage PPE procurement] was a funny thing to do. If there is a fire, you don’t call the auditor, you call the fire service.” — said an anonymous clothing manufacturer based in northern England, who said Deloitte has ignored his company’s offers to make medical gowns for healthcare workers on the front […]

What Are You Guys Drinking While Working From Home?

I don’t know why y’all are so eager to get back to the office because isn’t it better to be drinking a gin and tonic, sipping whiskey, or downing your favorite IPA while staring blankly at a spreadsheet at home than doing so while having a cup of coffee, Ice Mountain bottled water, or Red […]

Pay Cut Watch ’20: Marks Paneth Partners Bearing the Brunt of the Burden

Let’s hear it for the partners at Marks Paneth, who we were told are taking it on the chin so there won’t be any pandemic-related staff layoffs at the top 40 accounting firm. Apparently Managing Partner Harry Moehringer recently summarized for staff some of the pruning of costs that the firm is undertaking. According to […]

Here’s Where You Can Check If Your CPA Exam Testing Center Is Open

Though Prometric re-opened for a handful of “essential” tests on May 1, testing centers across the country remain closed due to local restrictions on movement and other factors. It is expected that more test centers will be up and running by May 31, contingent again on local conditions and subject to Prometric’s discretion. Not sure […]

It’ll Be a While Before PwC Offices Are Back to Full Capacity, Obviously

CODE-E can’t wait to see everyone’s smiling faces again. From the Boston Globe on May 6: Many [Greater Boston area] employers are also thinking about phased approaches, for their own workforces. Take what’s happening at PwC’s Seaport office, where more than 3,000 people worked before COVID-19 arrived. John Farina, PwC’s Northeast managing partner, is planning […]

Layoff Watch ’20: What’s This About Grant Thornton ‘Optimizing’ Some People?

We were told the other day that Grant Thornton recently got rid of some GTers who were not meeting their utilization goals. ’Tis the season for cutting loose low performers, regardless of a deadly pandemic and a shitty economy. Here’s the tip we got: They’re “optimizing” people at GT US in certain departments. Digital transformation […]

EY Announces a Three-Phase Plan For Staff to Return to the Office Once This Corona Thing Settles Down

In a firm-wide all-hands call yesterday, EY revealed its plan to return to some semblance of normal work at the same time state governments are considering lifting lockdown restrictions and allowing some non-essential businesses to reopen. Get excited, people, there is in fact a light at the end of this tunnel, dim as it may […]

Pay Cut Watch ’20: Here’s What We Know About the Salary Reductions and Other Stuff at CohnReznick

Just the other day Adrienne and I were chatting on Slack about which public accounting firms among the top 15 or so in the U.S. have we not heard a peep about in regards to job cuts, pay cuts, or furloughs. One firm brought up was Plante Moran. The other was CohnReznick. Interesting timing because […]

Layoff Watch ’20: Is There Trouble Brewing at EY Canada?

Things are starting to look a little ominous at EY in Canada, as we were told the specter of layoffs looms if EYers don’t volunteer to cut their billable hours. According to a tip we received on April 30: Had a call today at EY Canada (Ontario). Partners are saying that unless people start taking […]

Are You Hiring Accountants During the Pandemic? We Want to Know

Ugh, it seems like every day we’re writing about some new round of layoffs, pay cuts, or furloughs in public accounting. It’s pretty depressing. So now’s the time to focus on something good—and help out accountants who recently lost their jobs during the COVID-19 crisis. By now you’ve probably seen the tracker on our home […]

NASBA Is Actively Working With State Boards to Extend 18-Month Windows So Please Chill

This afternoon I sat in on a Becker webcast with peeps from NASBA, the AICPA Examinations Team, and Prometric so I can bring you the following information to report back. It’s important for those of you freaking out I hope. I’ve seen a lot of CPA exam candidates blowing NASBA up on Twitter demanding they […]

Layoff Watch ’20: Apparently Some Grant Thornton Canada Employees Had to Give Up Their Purple Roses

We got word recently that the Purple Rose of Chicago Toronto has shown some people the door at a few offices in Grant Thornton’s Southern Ontario Business Unit. Here’s what a source told us: 1. Layoffs occurred on March 30th and April 14th. Appears select few senior leaders in GT are short term layoff decisions […]

Apparently No One Knows What the F*ck Is Going On at Prometric

Most if not all current CPA exam candidates know this but for the rest of you playing along at home, allow me to catch you up on the situation. So, when the Rona panic first started in March, Prometric shuttered every location across this great nation of ours (along with others, but cuz ‘Murica, we’re […]

Pay Cut Watch ’20: Cherry Bekaert Is Slashing Salaries Between 5% and 15%

[Updated with additional information.] Cherry Bekaert is the latest midtier public accounting firm to tighten its belt during these crazy and uncertain economic times caused by the coronavirus pandemic. We were told that Managing Partner and CEO Michelle Thompson outlined staff pay cuts in an email this morning. The pay cuts will last through July. […]

Layoff Watch ’20: Did This Top 50 Accounting Firm Tell a Bunch of People Their Services Were No Longer Needed?

You might be wondering why I used a photo of Leo to go with an article about an accounting firm that has possibly joined the layoff club. Well he’s the only clue I could think of to give to see if anyone could help us confirm a tip we received about some people at this […]

Layoff Watch ’20: Job Cuts Have Begun at Wipfli, Staff Pay Cuts Are ‘Last Resort’

Unfortunately here’s another top 20 accounting firm that we’ll be adding to our tracker of layoffs and pay cuts in public accounting during the coronavirus pandemic. Wipfli Managing Partner Kurt Gresens announced earlier today that the firm is cutting staff headcount by 5%, according to two sources. One source told us: Some have already been […]

(CONFIRMED) Layoff Watch ’20: Is One the Loneliest Number At This Top 15 Accounting Firm?

[Updated with additional information about job cuts at BKD CPAs & Advisors.] So since we posted this article on Thursday afternoon, we’ve received a lot of information about what’s been happening at BKD CPAs & Advisors, the 13th largest U.S. accounting firm in INSIDE Public Accounting’s 2019 ranking. Yes, some people have been let go, […]

[UPDATED] Prometric Extends Site Closures For a Third Time, But There’s a Bright Side For Future CPAs

Ed. note: Updated with 4/23/2020 NASBA statement below So I have a little news on Prometric closures to share with you all, thanks to a tipster who obsessively refreshes the Prometric COVID-19 page each morning in hopes of an update. As we reported on April 15, Prometric announced just days before their planned April 16 […]

Layoff Watch ’20: EisnerAmper Gave 44 People Some Bad News Today

[Updated with additional information.] We just got word that during a presentation this morning, EisnerAmper CEO Charles Weinstein announced that there have been layoffs at the top 20 accounting firm, according to two sources. According to one source, 44 employees were laid off today and those people did receive a severance package (unknown terms) and […]

Furlough Watch ’20: RubinBrown Is Giving Some Folks a 90-Day Unpaid Vacation

St. Louis-based RubinBrown, the firm occupying the No. 43 spot in INSIDE Public Accounting’s 2019 ranking and the No. 41 spot in the 2021 Vault Accounting 50, will be furloughing 51 people this week for 90 days, according to a source. We were told that the firm’s chairman, John Herber Jr., made the announcement in […]

(CONFIRMED) Layoff Watch ’20: Did This Top 35 Accounting Firm Just Lay Off a Bunch of People Too?

[Updated with additional information about the layoffs at Weaver.] The other night while I was trying to get some more information about the layoffs at Crowe and Baker Tilly, we got a tip saying that another top accounting firm had just laid off 60 employees. I hadn’t seen these layoffs discussed on Reddit or Fishbowl, […]

Deloitte Australia COO Begs Partners to Stay Billable

“Please, please, please partners. Bill now. We need another billing month like March if we are to continue [the upward cashflow trend].” — Andrew Griffiths, chief operating officer of Deloitte Australia, during a Zoom meeting with partners on April 15. The firm’s overall utilization rate dropped from about 71% in the last week of March […]

Layoff Watch ’20: How Bad Were the Job Cuts at Crowe and Baker Tilly?

[Updated with additional information.] In the past 48 hours, we’ve learned that hundreds of people were laid off at Crowe this week and many others were let go at Baker Tilly. Here’s what we’ve been able to piece together about the layoffs at both firms based on tips that have come in to GC: Crowe […]

Pay Cut Watch ’20: Dixon Hughes Goodman Is Furloughing Some, Reducing Salaries For All

So, some stuff went down at Dixon Hughes Goodman today. No layoffs, according to a source, so that’s the good news. The bad news is there are DHGers who are being furloughed, plus everybody’s getting a pay cut. Here’s what we know right now: 1. Furloughs: According to our source, 17% of DHG’s workforce is […]

ICYMI: Prometric Has Extended Site Closures Until May 1 Due to Coronavirus

Tomorrow was due to be the glorious day Prometric centers across the United States threw open their doors, sprayed off their keyboards, and welcomed eager future licensees back into their loving embrace (figuratively, of course) after COVID-19 forced them closed back in March. As pretty much everyone knew would happen, that date has been extended. […]

Layoff Watch ’20: It Was a Manic Monday at Whitley Penn

We had a bad feeling more public accounting firms would be laying people off this week due to the current economic situation caused by COVID-19. We really hoped that wouldn’t be the case. But it happened. Today. This morning we learned via Reddit that Whitley Penn, which has six offices in Texas, was the latest […]

Pay Cut Watch ’20: It’s Not Good Friday at Moss Adams

Normally we start these posts with “and the hits keep coming” or some such thing but we’re rapidly running out of sassy intros so let’s just cut the crap and get straight to the news. We’re hearing from multiple sources this afternoon that Moss Adams has joined the ranks of accounting firms instituting pay cuts […]

voluntold accounting firms

Some KPMGers Got Voluntold to Work Overnight Processing PPP Loan Applications

KPMG staffers who have some idle time on their hands won’t for much longer. This KPMG communiqué was emailed to our tipline this morning: We are pleased to share that we have won an important engagement to support a large US bank processing loans as part of the Paycheck Protection Act. The work begins immediately […]

(CONFIRMED) Rumor Mill: It May Have Been a Black Tuesday At Two Top 40 Accounting Firms

[Updated with additional information.] We got a couple of tips late on Tuesday night about layoffs and pay cuts that occurred at two more accounting firms earlier this week: one is a global accounting firm with U.S. headquarters in New York City, and the second is a prominent firm in the Southeast. Because the tipsters […]

Arthur Andersen & Co.

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

[Updated with additional information.] According to a post on Reddit 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: Cutting pay ranging from 5-14% from anyone getting paid […]

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

[Updated with additional information.] Ugh, the hits just keep on coming. We received two tips on Tuesday morning about layoffs going down at Armanino, specifically in Los Angeles and Dallas. But another source told us on Wednesday that the firm’s newest offices in Seattle and Irvine, CA, were hit the hardest; however, we don’t know […]

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 […]

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 […]