AMC Entertainment Holdings put out a casting call for a new external auditor, and EY got the role. Kansas City Business Journal reported: AMC Entertainment Holdings Inc. will switch its accounting firm at the end of the year. The Leawood-based theater chain picked Ernst & Young, replacing KPMG LLP. AMC paid KPMG more than $12.7 million in audit, audit-related […]
This week, Ernst & Young and PwC both released revenue numbers for their most recent fiscal years. Along with Deloitte, who announced their numbers in mid-September, all three firms saw double-digit increases in their advisory/consulting (YEAH, I SAID "CONSULTING") businesses with more modest growth in tax and assurance. KPMG's fiscal year just ended on Sunday, so if […]
Not sure how we missed this story but thanks to the random commenter who brought it to our attention. New KPMG Global Chairman Michael Andrew was recently interviewed by The Australian and it sounds like KPMG had a pretty kickass fiscal 2011.
We’re still waiting for the official revenue numbers (I’m guessing they’ll be out next week) but Drew kinda spilled the beans already:
New KPMG global chairman Michael Andrew revealed to The Weekend Australian yesterday that the company had recorded a 10.1 per cent increase in revenue in the past financial year, to $22.7 billion. The numbers are due to be released officially later this month.
“If we had not had the Japanese earthquake, I suspect we would have gone past Ernst & Young. Japan is a good market for us. We had really good growth in the Americas and really good growth in tax,” he said yesterday.
FUCKING JAPAN AND YOUR EPIC NATURAL DISASTER! You just cost one of the premier professional services firms on EARTH the chance to leave a rival in the dust. Since there was enormous death and destruction, I guess everyone at the firm will let this go but they’re trying really hard not to throw out some pro forma numbers just for the sake of argument. ANYWAY, for those of you scoring at home, the $22.7 bil puts the House of Klynveld slightly behind E&Y who racked up $22.9 billion for FY ’11. It will also make for the second straight year of a bumper crop of Omaha Steaks for the employees at the firm.
But despite earthquakes and actual hard numbers, Mike is calling it like he sees it:
“We are basically equal No 3. There is still a big gap to PwC and Deloitte, which have been buying large consulting practices in the systems implementation area.”
In other words, if all things were equal, KPMG would probably be the largest firm. They’re just keeping their heads about it.
KPMG grows to match rival Ernst & Young [The Australian]
Recruiting for the talent amongst the Big 4 is competitive. This is known. What isn’t widely known are all the tactics in this competitive game of catch the accountant. In the past, we have seen direct solicitation by an E&Y recruiter which may be an effective method but it may be too abrasive for many within in the business who value propriety over the win-at-all-costs attitude.
Now comes news of a more subtle approach from KPMG, courtesy of an E&Y tipster who was searching for the firm’s career website:
While searching for the link to my firm’s career website I stumbled upon a pretty awesome ad (in a “ohhhh no you didn’t!” sort of way).
Since we’re fairly unfamiliar (read: completely unfamiliar) with Google’s method to the madness, we can only speculate how this little link found its way to the very top of Google search of “ey careers” but it does say “Ad,” so make of it what you will. Anyhoo, just for fun, we did our own quick Google Search of “ey careers” and got this:
So, it’s in the margin for us as opposed at the very top. But it’s still prominently placed on the search page and it’s also pretty hilarious that the hyperlink, “Ernst & Young Opportunities” goes directly to a KPMG URL (yes, it’s clearly disclosed by the Jobs.KPMGCareers.com at the bottom but who pays attention to that?). Perhaps our tendency to make mountains out of molehills is getting the best of us here but at the very least, this is an exciting twist on Sneaky
This marks the time of year that your firms ask you to give back to your community in various ways. The most common way that we’re aware of is to contribute to your firm’s respective United Way Campaign. This push usually involves numerous emails and maybe even a little dog and pony show where one partner essentially guilt-trips you into giving to the charity of the firm’s choosing rather than your own.
The Big 4 firms are quite competitive in their fund-raising efforts and a tipster had some thoughts on the tally in the Atlanta office of Ernst & Young (photo after the jump).
[A]pparently EY Atlanta doesn’t believe that KPMG exists (or is considered their competition)
Not to mention that these progress indicators are oddly phallic-looking…
It’s also worth calling attention to E&Y’s abysmal phallic filling performance compared to Deloitte and PwC. Our tipster’s points are duly noted and we’ve concluded that it’s either an obvious show of disrespect by E&Y Peachtown aimed right at KPMG OR the House of Klynveld happens to be blowing everyone out of the water and the Atlanta brass is saving everyone the embarrassment.
Knowing what we know about KPMG employees’ enthusiasm for the United Way Campaign, the latter scenario seems unlikely. Other theories and reactions are welcome at this time.