Deloitte

Here’s Your Open Thread for Deloitte Compensation Discussions (2014)

The Life at Deloitte Twitter account didn't tweet about compensation discussions happening (although we do know she recently moved to the new Orlando consulting hub and she's a legal Florida citizen now), but the tip box delivers: Deloitte Tax national comp webcast was today.  On Aug 21 everyone will receive a statement online with raise […]

EY Is Not Against Using the Deloitte LinkedIn Group for Recruiting Purposes

It may not be specifically forbidden in the unspoken Big 4 playbook but I believe it is assumed that firms consider other firms' LinkedIn groups off limits when it comes to spamming for candidates. This guy at EY did not get the memo: Now, the video isn't just an informative short film on, say, ethics […]

Comp Watch ’14: Anticipatory Anxiety in Deloitte Advisory

Last year, it was someone in tax who wanted to get a jump on Deloitte comp talks, this year it's an eager beaver in advisory who would like the honor: Deloitte Advisory ratings will be approved.  We should be hearing of our rating (and possible promotions) any day this week).  Raise %'s wont be communicated […]

Deloitte Survey: Millennials Ready to Change the World But Still Need to Borrow a Few Bucks for Rent and Bills

According to a study by the ironically named Take Charge Institute at the University of Arizona, more than half of young "adults" age 23 – 26 rely on their family for financial support. Half! Of those, nearly half of them are employed full-time. No worries though, it's just that Millennials are taking an extended break […]

We Have No Words For “Deloitte In a Word”

You've done the impossible, Deloitte, you've rendered us speechless.  

Deloitte Seeks to Dismiss Headhunter’s Claims of Sexual Harassment and Employment Discrimination

Last month, we told you about a lawsuit filed in New York by the ex wife of Mets great Art Shamsky. Kim Valentini-Shamsky is a recruiter (headhunter in the lawsuit) who alleges a laundry list of misdeeds by Deloitte, all brought on because she wouldn't bang the Deloitte guy she was sending candidates to. Deloitte's […]

Noted Forced Ranking Enthusiast Deloitte Declares Forced Ranking Dead

The timing of this discussion is pretty good considering we have not one but two hot conversations happening in Open Items as we speak; one person was “forced to resign” from the Big 4 after just 6 months, while another person asks if anyone has been or knows anyone who has been coached out. You will see momentarily what this has to do with forced rankings but for now, let’s pull an old article out of the archive from Francine McKenna:

Bro Leaving Deloitte For KPMG; Fellow Bros’ Reactions Mixed

When the time comes to leave your firm for industry or — gasp! — another firm, you could write some lame farewell email or you could have your bros write a touching farewell on Medium. Apparently, this is the new cool thing. Fans across the greater Washington, D.C. area reacted with disappointment and some harsh […]

Deloitte Kicks off PCAOB Inspection Season with a Respectable Failure Rate* (by Deloitte Standards)

Oh lookie here, PCAOB inspection reports are out today. We shall gloss over Mantyla McReynolds, LLC and CF & Co., L.L.P, going straight to what we want. Deloitte is first out of the gate for the 2013 inspection season, perhaps due to the fact that 52 audits were inspected and only a measly 15 deemed […]

Ex-Deloitte Chief Risk Officer Learns Not to Gamble with Independence the Hard Way

As everyone who is anyone knows, it's important to maintain independence in both fact and appearance. James T. Adams — once Chief Risk Officer at Deloitte's San Francisco office — was reminded of that part of CPA Ethics 101 today when the Securities and Exchange Commission charged him for causing violations of the auditor independence […]

Deloitte CEO Prefers Traditional Photo Op Over Selfie

As we've established, Deloitte CEO Joe Echevarria was setting trends in the realm of cool long ago. It's probably not surprising then that when a photo opportunity is presented to him, he prefers someone else hold the camera:  A standing ovation! And here we are with Joe E. In our midst. #EllenGabriel Fellows pic.twitter.com/bCmCoqIQs0 — […]

Deloitte Is Having Its Own Cesar Chavez Moment In San Francisco

As shared by our friends at Sqrl: "Received this today from a friend in SF. Everybody who was asked to join the D&T class action lawsuit say heeeeey!"

Ex-Wife of Art Shamsky Back in Court to Sue Deloitte for Sexual Harassment

A lawsuit was quietly filed in New York on Tuesday, naming Deloitte and Big D Talent Director Louis Bastone as defendants. The charge? Sexual harassment. Well, sexual harassment and severe work-related cockblocking.

Does Your Future of Work Include Wearing Wearables?

Perhaps you've heard the story of a troll young lady who calls herself a social media consultant caught between a punk and a hard place at a San Francisco bar with Google Glass on her face. Perhaps you read Jody Padar's story on Glass and accounting firms. Now we have a piece published on Deloitte's […]

Communicating Purpose Key to Higher Employee Engagement, Says Ironic Deloitte Study

Let's discuss: Every company, at some level, has a purpose. How well you are able to communicate yours internally could have a major effect on your employees' engagement levels. That's one of the more striking findings from a new survey from Deloitte. To put it in terms of numbers, 73 percent of employees who say […]

Here’s How This Deloitte Consultant Gets Away With Working 3 Days a Week

Step 1: Get job at DeloitteStep 2: Have babyStep 3: ????Step 4: PROFIT!!! Andrea Garry has been with Deloitte for six years. She has a 3 year old and currently works 30 hours a week Monday through Wednesday. How does she do it? EASY: When I first started my career at Deloitte, someone said to […]

Deloitte Declares Weekends Are Not For Working, Unless You Are Working

All bets are off if you are actually working on the weekend but if you’re sitting at home binge-watching Netflix and trying to recall the names of those tiny humans who call you Mommy or Daddy, Deloitte wants you to put down the “PDA” and focus on the “life” in your “work-life” balance.

Deloitte Exec Gets Six-Week Vacation Thanks to Wife’s Heavy Foot, Russian Frivolity

I don't know about you all, but I'm enjoying all this tension with Russia. I like my Russia loud, loaded and resentful of America. Bring on Cold War 2.0, I say!  Of course there are drawbacks to strained relations with the Russkies. Like deportations! Jason Corcoran and Henry Meyer of Bloomberg report that 1,000+ executives from […]

Tweeting a Lot About Audit Stuff Can Get You a Job at Deloitte

Ed. note: in case you are too lazy to click over and/or incapable of using professional skepticism, it's the Onion, guys. Are you desperate to land a Big 4 gig? You should probably start hashtagging your financial analysis: NEW YORK—Citing his rapidly growing social media presence and prolific, insightful takes on generally accepted accounting practices, […]

Deloitte Client and Trading Firm Wants to Go Public, Admits To Being Awful at Accounting

Anyone who has ever struggled through Intermediate or scored two consecutive 74s on FAR can tell you accounting is hard, man. But when you're in the financial business and hoping to go public, there is a minimum expectation that you at least have some idea what you're doing before you invite the auditors over to […]

This Deloitte Employee Doesn’t Want to Hear About How Much Your Landlord Sucks

I'm sure we've all dealt with our fair share of terrible landlords — mine, for example, don't even salt our sidewalk in winter and seem determined to put the loudest, most obnoxious idiots possible in the unit next to me — but this Deloitte consultant pretty much wins in the worst landlord department. What would […]

Going Concern Presents: The Many Faces of Barry Salzberg

When it comes to Big 4 hotshots, we try not to play favorites (although my inappropriate sexual dreams about Big 4 hotshots definitely play favorites, my favorite being BoMo because BoMo HELLO) but the other day, I was Google Image searching for a good picture of Barry Salzberg when I realized the guy makes some […]

The SEC and Deloitte Are Cool on That Whole Longtop Thing Now, Guys

In the ongoing battle to get their paws on Chinese workpapers, one battle seems to be won… er, solved? I don't know what you'd call this, exactly, but as long as the SEC has the "substantial volume of documents" it has been asking for all this time, then I guess everything is cool (for now): […]

Don’t Worry Everyone, Deloitte Totally Has This Future of Audits Thing Down

Exhibit A: Deloitte works w/ global regulators to shape policy and standards to help develop audit of the future #GR2013 http://t.co/3oZLBxB7kc — Deloitte (@Deloitte) January 6, 2014   This is courtesy the Big 4 firm that brought you Parmalat, Bear Stearns, MG Rover, Taylor, Bean & Whitaker… you get the point. But hey, shit happens […]

Deloitte Dropout and Self-Professed Hippie Has Created a Tool To Track Your Entire Pointless Life

A recovering Green Dotter who didn't fit in with Big 4 culture for reasons which shall become evident momentarily has created a tool that basically allows you to be your very own personal NSA: A decade ago, [Joe] Zacyck was working for Deloitte and felt out of place. A self-described “hippie” who “made my own […]

There’s a Hidden Deloitte Auditor in the Airport Cell Phone Crasher Video Making the Rounds

A tipster alerted us to the fact that there is a Deloitte auditor hiding in the "Cell Phone Crashing at the Airport" video that you've probably seen shared on your Facebook newsfeed no less than, what, 50 times today? See if you can spot her. Inevitably, one of you is going to be like "OMG!!1!!! […]

One Deloitte Office Wants Staff To Have a Restful Holiday With Friends, Family, and the Client

We're feeling a strong sense of bitterness coming from the tip box today: I'm an audit senior at Deloitte & Touche and wanted to send along this lovely E-mail every Audit staff member [in my office] received this afternoon.  Note that almost everyone has 10-20 learnings due Jan 4th that we were told to book […]

Deloitte Associate Exercises Powers of Persuasion; Scores Firm-Subsidized Xbox One

Apparently, an audit assistant at Deloitte has figured out a way for the firm to reimburse at least part of the cost of a new Xbox One under the guise of using it for fitness purposes. Let's watch him work his magic, starting with the first email he sent regarding the firm's subsidy program: From: […]

“How” Does This Deloitte Consulting Graphic Make You Feel?

Don't hold back. I'm pretty sure I made better gradient circles in CorelDRAW 6 when I was working at a sign shop in high school but that's just me.

Let’s All Buzz About Deloitte’s Fabled Green Carpet At Once

Wait, what? Lots of buzz about the fabled green carpet at our opening plenary — Life at Deloitte (@lifeatdeloitte) November 4, 2013 We can assume they are rolling out the green carpet in Orlando for a new senior manager training based on earlier tweets but who the hell knows based on this cryptic nonsense. More […]

Is Deloitte Ripping Off Poor Countries in Africa With This “Tax Strategy”?

There is a single guy going off about this Observer piece on Deloitte's Facebook page, and that's between all the randos cussing the D out for unleashing janky software on certain states' unemployed. It's not a good time for Deloitte, that's for sure: A global consultancy giant has been accused of advising big business, including […]

Let’s Discuss This Sentence From the Out & Equal Summit

This is happening right now in Minneapolis and of course the best we can do is get caught up through the Life at Deloitte Twitter account: "In order to retain top talent, an organization must create an environment where everyone can be themselves" @christie_smith2 #oesummit2013 — Life at Deloitte (@lifeatdeloitte) October 30, 2013 The quote […]

The PCAOB’s Disciplinary Action Against Deloitte Is the Latest Embarrassment for the Auditing Profession

Late yesterday we learned about the latest wrist slap coming from the PCAOB for an audit firm. Deloitte was fined $2 million for allowing a suspended partner, Christopher Anderson, "to become an 'associated person' of Deloitte during the period of the suspension."  I could go on but it's quite simple: there's nothing to like about this […]

Deloitte Fined $2M for Allowing Suspended Audit Partner to Keep on Auditing

Accounting giant Deloitte & Touche will pay a $2 million penalty to settle civil charges that it allowed a suspended auditor to continue working in the firm's public company audit practice, the U.S. audit watchdog said Tuesday. The Public Company Accounting Oversight Board, the body that polices auditors, said the fine matches a record penalty imposed […]

Accounting Student Whose Awkward Email Made the Rounds at Big 4 Firms Makes Fitting Retaliatory Video

Though it is never our intention, there have been a few times when news published on Going Concern has a life-shattering effect for some people. You know, like that weirdo who was filming coworkers in the bathroom stall next to him and young people stressing about retirement. Heck, even I suffer consequences from being associated […]

Life at Deloitte Means Not Getting Salty Over Lost Opportunities

The moment you realize you're too late… #DeloitteUProblems pic.twitter.com/yrfv1t8b3M — Life at Deloitte (@lifeatdeloitte) October 8, 2013

Deloitte Satisfied with Size of Check It’ll Cut to Settle Taylor Bean & Whitaker Lawsuit

The Green Dot blinks: Breaking: Attorney Steven Thomas says lawsuit by Taylor Bean & Whitaker bk trustee vs Deloitte settled "mutual satisfaction of parties". — Francine McKenna (@retheauditors) October 3, 2013 I've confirmed Francine's account with Mr. Thomas. Deloitte has not responded to our email requesting for comment. I spoke to Steven Thomas a few […]

Deloitte Is the Biggest Accounting Firm in the World Again (No Thanks to Its Audit Business)

If you recall, Chez Salzberg put up a good number, $32.4 billion in global revenues to be precise. PwC, as we mentioned this morning, came in at $32.1 billion so yes, that puts Deloitte on top of the Big 4 heap again after it's one-year wonder back in FY10.  In such a tight race, every […]

Deloitte Study: Accountants Don’t Have Fire in Their Bellies

Our AWEB colleague Jason Bramwell has the earth shattering results of Deloitte's Unlocking the Passion of the Explorer: In fall 2012, the Deloitte Center for the Edge surveyed approximately 3,000 full-time US workers who work more than thirty hours per week from fifteen industries and across various job levels for its Unlocking the Passion of the Explorer […]

Life at Deloitte Can Result in the Occasional Occupational Hazard

Smoking in the stairwell, again? Yup, been out of the office too long…locked in the stairs bc I forgot my badge on my desk #helpme — Life at Deloitte (@lifeatdeloitte) September 18, 2013

Ex-Deloitte Partner Learns That Procrastination Has Its Consequences

All humans procrastinate from time to time. Whether it's putting off washing the car or feeding the kids, we simply can't get to everything. I mean, who can? As indentured servants to the capital markets, you are all too familiar with this dilemma. The to-do list grows long quite quickly and it's difficult to prioritize. […]

ICYMI: Deloitte’s ‘Uncovering’ Study Uncovered More Than Bros Not Being Bros

Apparently the Life at Deloitte Twitter account has been busy tweeting other people's links to the Deloitte study we wrote about earlier this week, but of course no Going Concern love. We're going to assume this is due to our unruly comment section and not at all a reflection on our journalistic integrity or total […]

Deloitte Study: Lots of Straight White Guys Trying Not To Be Such Straight White Guys at Work

Diversity, as you all know, is critical to the success of any major company's efforts to appear as though they care about something other than making money. You might hear something like, "We celebrate diversity at our firm because it's the right thing to do, yada yada yada, but it's also good for business." Okay, […]

This Intern Captured “Your Future at Deloitte” Better Than Anyone

Apparently the Deloitte Luxembourg summer interns had a "tie photo contest" (yes, as in neckties) and of all the entries, we have to say this young lady NAILED IT. Unfortunately, she did not win but please, Deloitte, give this person an offer now. Clearly she is well-prepared for a life in public accounting.

Here’s Your Open Thread for Deloitte Compensation Discussions (2013)

Back in late June, someone in Deloitte Tax was feeling optimistic enough about this compensation to share their thoughts with us. Now it's mid-August and someone's anxiety has gotten the best of them:

Deloitte UK Boss Not Sure What You Were Expecting From That RBS Audit

Deloitte UK CEO David Sproul has been all over the British press for his remarks that politicians are hurting the country's economy by "trying to force companies to pay their fair share of tax." While it's true that politicians have an uncanny knack for getting in the way of all kinds of things, it's also […]

Deloitte University Opens an Austin Campus (or Something)

Your new Master of Science in Business Analytics degree is proudly brought to you by Deloitte: Deloitte has been announced as a founding sponsor for the new Master of Science (MS) in Business Analytics program at the McCombs School of Business at The University of Texas (UT) at Austin. Along with other corporate sponsors, Deloitte […]

Deloitte’s Ability to Recruit Talent Not Affected By New York Ban Because, You Know, These Things Happen

Deloitte plans to hire about a gajillion people this year. If you don't believe me, just ask them! Even if the humblebragging gets a little old, jobs = good, so we (the royal kind) should all be grateful that the likes of Deloitte, EY, et al. are trying to solve the unemployment problem all by themselves. […]

The Guy Tweeting From Life at Deloitte This Week Might Need a Cold, Post-Workout Kool Aid

As most of you already know, the Life at Deloitte Twitter account is a great source of G-rated PR fluff allegedly written by real Green Dotters. And this week's winner is Steve Nading, a tax senior in Chicago. Now, unless he's traveling in California for the week – doubtful, since he tweeted "Good morning from […]

Deloitte Interns Wasting Perfectly Good Graffiti Wall

I realize that we won't find the next Banksy in the 2013 Deloitte intern class, but come on, you guys. Maybe print out some of your Excel art and stick that up there. Something. Of course, not everyone can be at the conference, so if you have a message you'd like to post, you may […]

Promotion/Comp Watch ’13: Optimism in Deloitte Tax

I just flew in from Las Vegas and boy, are my arms tired. Thanks for your patience. Your reward is the latest chatter on the promotion/compensation watch from Deloitte Tax: Deloitte Tax in Chicago let its TCII's know who is going to be promoted to senior, so I'm assuming other individuals getting promoted to manager, […]

Another One of Deloitte’s Former Chinese Clients Has Been Charged with Fraud

When fraud allegations first arose in 2011 against China MediaExpress, CEO Zheng Cheng countered with confidence, telling shareholders that everything was tip-top and the company had a 'reputable and well-known' audit firm behind them. Of course, later that firm — Deloitte — resigned, along with the CFO.  I suppose when you're in a situation like […]

New York Puts Deloitte in Time-out Over Standard Chartered

Remember last summer when Deloitte got itself wrapped up in a big international money laundering scandal? It was pretty exciting international intrigue-y stuff! The New York Department of Financial Services fined Standard Chartered bank $340 million last August for helping Iran move money around and now Cuomo & Co. have gotten around to holding Deloitte responsible […]

Here’s an Unconfirmed Story of an Audit Associate Dropping Out of Deloitte University After Getting a Better Offer

We've all heard the urban legends of the guy from another market who threw his laptop at a partner and stormed out in a moment more epic than the "fuck you" scene from Half Baked but very rarely do we actually get to witness these moments personally (not counting all the times I've drunkenly cussed […]

Deloitte Is the Audit Firm That Has Had the Most Trouble in China… By Far

Cruising around el Twittero this morning, we came across something interesting shared by Francine McKenna: Which auditor has most China fraud problems? Deloitte by a landslide. RT @chinajinrong: @retheauditors tradingfloor.com/posts/china-fi… — Francine McKenna (@retheauditors) May 29, 2013 This post by Fredrik Oqvist, founder of China RAI, has a table that shows which audit firms have had […]

Deloitte’s 2012 PCAOB Inspection Report Shows That the Firm Is Less Awful at Auditing Than It Used to Be

The PCAOB news is not letting up. Today, the Board released the 2012 inspection report for Deloitte. Considering the turnaround time in years past, this is pretty fast. The 2011 report was issued last December. If you count yourself as one of those people who enjoy A) reading these reports and B) quality auditing, then you will […]

Deloitte Suggests SEC Call the PCAOB If It Wants Those Longtop Documents

Last Friday, the PCAOB announced it had reached Memorandum of Understanding on Enforcement Cooperation with Chinese Regulators. While not a great deal for the Board, most people agreed that, at the very least, it's good for formally asking the Chinese, "Pretty please with sugar on top, may we have a peek at these documents?" Which […]

Ernst & Young Latest Big 4 Firm to Have Part II of PCAOB Inspection Report Released

Okay, remind me — there's a saying about "three" and "trend" or "pattern" or something? Forget it, not important. What is important — at least we've made the argument that it is — is that the PCAOB released Part II of Ernst & Young's 2009 inspection report. That makes three out of four Big 4 […]

Joe Echevarria Was a Hipster Before It Was Cool

Before he was CEO of Deloitte, talking about creating thousands of jobs, talking to both current and ex-Presidents, and having 1%er problems, Joe Echevarria admits that he had some "rough edges." He group grew up in the Bronx, attended the University of Miami (aka Suntan U.) and didn't have the personal hygiene and fashion sense […]

Deloitte CEO Joe Echevarria Doesn’t Want to Hear About the Troubles You’ve Had Selling *Your* House

As you may recall, after Joe Echevarria became CEO of Deloitte in 2011, we learned that his house in Westchester was up for grabs with an asking price of $2.8 million. The 6,000 square-foot spread had hit the market in March of that year listed at $3 mil, so you can safely assume that Joe and his wife Ana were anxious to move the thing.

Deloitte Employees Are Reminded to Take Annual Review Time Seriously

Since the majority of the twelveteenth thousand Deloitte employees are not on the Twitter, including Barry Salzberg, we’d like to help get the word out:

Judge: Deloitte Can Handle Two Chinese-related Court Cases Just Fine

Deloitte Touche Tohmatsu CPA Ltd. lost a bid to delay a lawsuit brought by the U.S. Securities and Exchange Commission seeking documents in an investigation of the auditor’s former client Longtop Financial Technologies Ltd. U.S. District Judge Gladys Kessler in Washington today rejected Shanghai-based Deloitte’s argument that the case should be put on hold while an […]

Deloitte Employees Understandably Jumpy After Receiving ‘My Compliance Violations’ Email

Something from the mailbag this morning: Wanna see 60,000+ employees freak-out for a hot second and halt productivity for a bit , send them a firm wide e-mail with the below subject… Imagine, if you dare, being a Deloitte audit professional and receiving an email with the following: From: Ethics & Compliance Monitoring Sent: Thursday, April […]

You Can Now Major in Diversity at Deloitte University

Unfortunately, there's no indication that the culinary secrets will be shared any time soon: Representatives from Fortune 500 companies, government, non-profits and academia examined the evolution of inclusive workplaces at the recent launch of the Deloitte University (DU) Leadership Center for Inclusion.  The more than 250 attendees discussed a wide range of inclusion issues including […]

Chimera Seems to Have Enjoyed Firing Deloitte a Little More the Second Time Around

If you've read anything recent about Chimera Investment Corp., you're no doubt glad that you don't have any part in it. Tony Catanatch's post from last week has more than enough to most auditors want to grit their teeth into dust: Here is a company that has neither filed a quarterly report since November 18, 2011 […]

ICYMI: Deloitte Pays the Wall Street Journal to Blog, or Something

Who knew?! I have to admit that I wasn't really paying attention, but then again, I don't really cruise the WSJ's paywalled C-suite pages that are impervious to the Google-search-the headline-for-total-access trick. But yes! Deloitte has had an exclusive deal to "sponsor a regular stream of content" at CFO Journal and CIO Journal, for some time and it's all […]

Brisket, Blueberries Some of the Best Fare at Deloitte University: Sources

Back in 2011, Deloitte swung open the doors on a 107-acre, $300 million spectacle in Westlake, Texas known as Deloitte University; its centerpiece being a 700,000 square-foot building that has thirty-five classrooms, thirty-six "team" rooms, a  ballroom, an amphitheater that seats 176 people, 800 guest rooms, three restaurants, and a state-of-the art fitness center. It's perks like "The DU"1 that make […]

Here’s Why Releasing Part II of the PCAOB Inspection Reports Is Important

I know what a lot of you are thinking — "The PCOAB is a bunch of couldn't-hack-it-in-public know-nothings that like nothing more than making hard-working auditors' lives a living hell. And, oh, Part II doesn't mean jack squat." FANTASTIC! Then you won't mind that I'm going to spend the next few hundred words telling you […]

There’s No Way Someone at Deloitte Leaked Those Carolina Panthers Financial Statements

Yesterday, Tommy Craggs at Deadspin scooped more sports franchise financial statements, this time those of the Carolina Panthers. As usual, it's great insight into how sports teams are shrewdly run businesses1. Just like any financial statement report, the good stuff is in the notes and Craggs dissects the more interesting points. If you're not up […]

PwC and Deloitte Probably Don’t Care That They Lost So Many Audit Clients

One possible alternative title for Accounting Today's "scorecard for new SEC audit clients" would be "Jesus, PwC and Deloitte Lost a Lot of Audit Clients Last Year." I'll go out on a limb and say that it probably didn't even make the short list. AT went with "E&Y, KPMG Top 2012 for Audit Client Wins" which is […]

God, Deloitte Is Still Humblebragging About Its Hiring Numbers

We've grown accustomed to Big 4 people dropping huge hiring numbers in order to get oooohs and ahhhhhs out of media people and Joe Echevarria was on Bloomberg TV today doing more of the same: Sara Eisen: Are you picking up jobs from Wall Street as Wall Street sheds and shrinks? Joe E.: Absolutely. We're […]

Oh Look, Deloitte Has More Trouble Thanks to a Chinese Audit Client

Just when you thought Deloitte's China rash had gone into remission, some investors come along who don't think too highly of the audit performed by D to the T. In this particular case, the investors are a group of investment funds including Columbia Pacific Opportunity Fund LP and Fir Tree Value Master Fund LP who, according […]

Deloitte Reminds Its Auditors Professional Skepticism Is Their *Real* One True Love

One GC reader is not impressed by this expression of love today: "At Deloitte, this is what the people in the Central region received today as their Valentines Day." We are still waiting for a copy of the "bizarre email that intersects Valentines Day and audit quality" we hear was sent out along with these […]

Big 4 “Refer a Friend, Get a Prize” Programs Increasingly Popular

The New York Times reports that both Ernst & Young and Deloitte are among the firms that trust its own people to find the best and brightest experienced hires because it "[saves] time and money" even though  "[lengthens] the odds for job seekers without connections, especially among the long-term unemployed." That's a bit of a […]

Big 4 Firms Doing Their Part to Keep the World Economic Forum a Giant Sausage Fest

In case you weren't aware, the World Economic Forum is an annual ego-strokefest held in Davos, Switzerland. It brings together the leaders of business and a whole scrum of other people who are willing to plunk down a metric asston of money to hobnob with other people that are willing to plunk down a metric asston […]

ICYMI: PwC and BDO Both Passed Their AICPA Peer Reviews Just Fine

Remember how Deloitte's AICPA Peer Review finding of "pass with deficiency" was one of the lowliest of low points for the year in auditing? Sure you do. At the time, we learned from the AICPA's James Brackens that from 2008 to 2010, only 8% of the audit firms that participated in the peer review had […]

Deloitte Is Still Defending Its Independent Foreclosure Review Work

Remember last week when the New York Times published a report that quoted one Deloitte employee who got a lot of reading done while working on JP Morgan Chase's Independent Foreclosure Review?  Deloitte was not impressed. Although a Huffington Post report from earlier this week has quoted a source who had their own twist on the […]

Deloitte Finally Gets Some Good Exposure

In case you missed it, January 13, 2013 was the 12th Annual No Pants Subway Ride. This guy's Deloitte backpack and striped manties did not miss it:

Deloitte Resents the Depiction of Its Independent Review Foreclosure Work as “Story Time”

Deloitte, the consulting firm hired to examine foreclosures for JPMorgan Chase, brought in reviewers to look at the documents before the examination procedures were ironed out. The result: Employees sat around with no work for more than a month while collecting a paycheck. “We would just read our books,” one of the reviewers said. “We strongly […]

Big 4 Revenue Bigger Than Ever in 2012

The website Big4.com likes to put out an analysis of the Big 4 firms' revenues every year and we're pretty grateful because we sure as hell don't want to do it. That said, it's largely just a press release for all the firms to remind everyone how much they're crushing it. And although Big4.com "believes […]

Will the Foreclosure Settlement Result in Collateral Damage at the Big 4?

Earlier today, a settlement was reached between federal regulators, led by the Office of the Comptroller of the Currency and the Federal Reserve, and ten banks over foreclosure abuses. Over the past week or so, the New York Times has been reporting that a settlement was expected, imminent and today it was announced that the […]

PwC Poaches a KPMG Partner and Issues a Press Release, Part VIII

An alternative title for this post would be "PwC Poaches a KPMG Partner and a Deloitte Partner and Issues a Press Release, Part I." John Tantillo and Farah Faruqui are proud new partners in PwC's Risk Assurance Services practice; they both specialize in internal audit. Tantillo spent 27 years at KPMG prior to trading in for […]

Deloitte Hopes To Make Training As Fun As Call of Duty

If you're anything like me, sometimes after a long day of slaving away for the man, your first thought is to pop a beer, kick off your shoes and cap some mofos in your favorite violent video game. I mean the whole reason some of us grow up is to be able to play the […]

Deloitte Rewards Auditors for Job Well Done with Professional Skepticism Homework

On December 21st, long after most people had given up on the world coming to an end and just about the time everyone on the east coast was about to check out for the rest of 2012, the PCAOB conveniently released the 2011 inspection reports for Deloitte, Grant Thornton, and Ernst & Young. The timing […]

Here Are Five of the Lowliest Lowlights in Auditing from 2012

You have to admit it — auditing is a rough gig. You're expected to meet expectations of both regulators and clients, all the while, keeping enough employees on hand so the job can actually get done in a reasonable amount of time. Oh! Then there are the investors; they fit in there somewhere (or so […]

The PCAOB Has Conveniently Released 2011 Inspection Reports For Deloitte, Grant Thornton and Ernst & Young the Friday Before Christmas

Oh I bet you guys think you're slick for this one! Thanks so much for ruining my Doomsday. So here's what we've got. Let's start with Deloitte: The PCAOB identified a few particular deficiencies it didn't like: The inspection team considered certain of the deficiencies that it observed to be audit failures. Specifically, certain of […]

Report: Working For Deloitte Makes You More Special Than Getting Into Harvard

Oh man. We've got another shill piece littering up the hack media today, this one brought to you by the fine folks at AOL so you know it's going to be good: Deloitte LLP, a global professional services firm frequently on the Best Companies To Work At lists, is no exception. The company, which employs […]

Deloitte Intern Candidate Just Smoked the Competition’s Thoughtful Thank You Emails

Kiss that Green Dot Internship good-bye, you inconsiderate beasts. Love it…I just received a handwritten thank you note from an intern candidate I took to lunch last week. Those will NEVER go out of style! — Life at Deloitte (@lifeatdeloitte) November 30, 2012 Better go brush up on your Judith Martin, rubes. [via @LifeatDeloitte]

KPMG Says Meg Whitman Doesn’t Know What She’s Talking About

Earlier today we learned that the rest of the Big 4 joined in PwC's November to remember, by getting named in mega lawsuits. Good times all around. HP investors are suing, among others, KPMG for its part in allegedly missing the "accounting improprieties" that were at HP acquisition Autonomy. When HP CEO Meg Whitman had […]

Mike Lynch Would Like HP to Show Their Work

Last week, when HP announced that $5 billion of its $8.8 billion write-down was due to "serious accounting improprieties, misrepresentation and disclosure failures" at Autonomy, a lot of people were asking questions. How do the numbers work? Is HP taking a bath? Who's this Brand X accounting firm that Meg Whitman doesn't think too highly […]

Deloitte Didn’t Know Anything About These Accounting Improprieties You Speak Of

Remember what Meg said, "“The board relied on audited financials — audited by Deloitte — not Brand X accounting firm but Deloitte.” Via the New York Times: Deloitte notes the allegations made yesterday by Hewlett Packard (HP) that ‘some former members of Autonomy’s management team used serious accounting improprieties, disclosure failures and outright misrepresentations to inflate […]

Let’s Discuss: Auditors and The Responsibility to Detect Fraud

When I finally got around to writing about the HP/Autonomy finger pointing party yesterday, the topic of fraud detection by auditors came up as it often does in these scenarios. More specifically, the statement that "audits are NOT designed to detect fraud."   A friend of Going Concern emailed me later in the day with […]

This HP/Autonomy “Accounting Improprieties” Thing Hit the Big 4 Superfecta and Other Things We Learned Today

As luck would have it, we don't get to coast this Thanksgiving week as HP had to come along and screw it all up by announcing a $8.8 billion write-down, $5 billion of which is described as "serious accounting improprieties, misrepresentation and disclosure failures" at software company Autonomy, who HP acquired back in 2011. And where […]

Insider Trading Cost Tom Flanagan a Lot More Than 21 Months of Freedom

Late on Friday, word came down that former Deloitte vice chairman Tom Flanagan was sentenced to 21 months in prison for his insider trading activities. People hate it when big shots use their status to trade on information the rest of us don't have access to, but gears grind into dust when people like Flanagan […]

Recruiting Season: Ascending to Public Accounting Royalty; Choosing Between 3 of the Big 4; Doomed to Depression?

Welcome to the latest edition of Recruiting Advice: Take it or Go Screw Yourself. Have a question about recruiting season? Email us at advice@goingconcern.com and put "Recruiting Season Questions" in the subject line. One programming note – for those of you who are on the hunt for full-time offers this year, be sure to email […]

Deloitte Will Always Be an Audit Firm at Heart, You Guys

Last week, Deloitte announced that its most recent fiscal year was pret-tay, pret-tay, pret-tay good. $31.3 billion is nothing to sneeze at and the consulting and financial advisory businesses are leading the charge, as the Economist notes: In fiscal 2012 Deloitte increased its revenues from consulting by 13.5% and from financial advisory by 15%—compared with just […]

And Now, Here Are Deloitte Chargeable Hour Goals (Assurance)

Following up on the Ernst & Young chargeability goals we published earlier this week, now we bring you Deloitte's goals for "2012" sent to us, second-hand, from a trusted source: Staff – minimum of 1,900 Manager – 1,700 Senior Manager – 1,600   However, after farming the comments on the E&Y post, here are some […]

Let’s Compare the Big Four Accounting Firms to the Four Houses in Harry Potter

Career conundrum got you down? Want someone to tell you how to spend your bonus? Need gift ideas for your secret workplace lover? Email us the questions that burn deep in your loins.  Do you think that the Big 4 are comparable to the 4 houses in Harry Potter?   Deloitte: Griffindor [sic] PWC: Slytherin […]

Deloitte Campus Recruits to Imagine Olympians Naked While Listening to Their Stories of Inspiration

Yes, Deloitte is counting on college students being impressed with stories of determination, hope, competition, blah blah blah while gawking at the Olympic quality bods of Abby Wambach, Cullen Jones, Mariel Zagunis, Jonathan Horton, and April Holmes. And as long at they don't have any of them say something as awkward as Apolo Ohno's quote in that […]

Vault Ranking: Big 4 Firms Keep Things Respectable-ish Among Consulting Employers

No, they aren't Bain, Boston, Booz, or McKinsey but the Big 4, especially Deloitte and PwC, manage to hold their own as an employer of consulting professionals. That's according to the latest pecking order out of Vault, anyway. Here's the top ten for your disputing pleasure: 1. Bain & Co.2. McKinsey3. Boston Consulting4. Booz & […]