KPMG

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Recently Axed KPMG South Africa Employee Slams Firm for Mismanagement, Lying

You may have seen earlier this week that KPMG South Africa is planning to lay off 400 workers and close some regional offices, as the embattled firm tries to save face following the Gupta and VBS Mutual Bank scandals. If you haven’t been paying attention, here’s a nice synopsis of what’s going on, via Reuters: […]

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Wells Fargo Not Sick of Bad Press Yet

Oh, Wells. Buddy. What’s going on? Can’t seem to keep your nose clean. Last week heralded another splashy headline in the WSJ: Wells Fargo Employees Altered Information on Business Customers’ Documents Even we’re getting sick of it! This time, WSJ reported that employees in the wholesale subunit cut corners with data collection — including personal […]

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A Massive Scandal, the Likes of Which the Accounting Profession Had Never Seen, Got KPMG to Consider Outside Directors

In an effusive, buzzy word salad published in Accounting Today, KPMG Chairman and CEO Lynne Doughtie announced that the firm would be adding independent directors to its board. Why, might you ask? I’ll let Lynne tell you unabated: In today’s complex and fast-moving global business environment, successful organizations regularly reassess their mission and responsibilities to […]

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KPMG South Africa Calls in Reinforcements, Is Dumpster Fire

Uh oh: KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals. Let me jump in here to say that I think I’d make a fine accounting firm troubleshooter. A Big 4 Mr. […]

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KPMG Master’s Degree Program Admits 135 into Indentured Service in 2018

As a Big 4 alumna, when I saw the KPMG master’s degree program, I immediately thought, “What’s the catch?” But before we get to the catch, let’s look at the program itself a little more. The KPMG Master’s Degree Program Per Accounting Today, the cohort of 135 program participants for the 2018-2019 start class will […]

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Foreign Affiliates of Big Audit Firms Screwed Up Some Stuff

The Securities and Exchange Commission fined foreign affiliates of BDO, Deloitte, and KPMG for skirting oversight of the PCAOB. Here’s the skinny: According to the SEC’s orders, the Zimbabwe affiliates of Deloitte & Touche and KPMG improperly audited the majority of assets and revenues of a publicly traded company without registering with the PCAOB. The […]

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KPMG Employees Seeking Help with Audit Software Might End Up With Phone Sex Instead

One of the best things about working at a Big 4 firm is that for virtually every problem you encounter, you can dial up an internal hotline and get some help. Computer acting up? There’s a hotline. Forget the basic accounting equation? There’s a hotline. Partners passing along illegal information about PCAOB inspection plans? Um, […]

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Report: Ambac Was One of the KPMG Clients That Got a Second Peek Thanks to Stolen PCAOB Info

Francine McKenna did some expert sleuthing and reports at MarketWatch that Ambac Financial Group was one of the unnamed issuers in the indictment of former KPMG employees and one former PCAOB inspector. There were enough clues to piece together that “Issuer-2” was Ambac, one of the companies that were allegedly subject to a re-review by […]

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What Do We Think Is Going Through KPMG CEO Lynne Doughtie’s Mind During This Interview?

If you’re a Big 4 CEO, part of your job includes bopping around lavish business events like the World Economic Forum. KPMG U.S. CEO Lynne Doughtie is no exception, but given this week’s events, you can’t help but wonder if she’s doing so with a raging fire atop her head. Not that you would know […]

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All the Gory Details From the Indictment of Former KPMG Partners

If you’re not one of the six accountants who was criminally or civilly charged today, then you’re having a good Monday. And if you’re still not convinced, let’s peruse the details from the criminal indictment so you can feel better about yourself. The allegations paint a pretty sad picture of some prominent audit professionals at […]

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Former KPMG Employees Learn That Using Confidential PCAOB Inspection Info Has Its Drawbacks

Six former employees of KPMG have been arrested and charged “with conspiring to defraud securities regulators and misuse of confidential auditing information.” These charges stem from the leak of confidential PCAOB inspection information that we learned about last year. The Securities and Exchange Commission also filed civil charges in a parallel action. The 54-page indictment lists […]

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Reminder: KPMG Fired a Bunch of People for Mishandling PCAOB Inspections Details They Weren’t Supposed to Have

KPMG released its global revenue results today and its the standard self-congratulatory Big 4 flimflam that we love to hate around here. The Wall Street Journal and Financial Times both covered the results in earnest; the Journal noted that KPMG’s growth lagged its BIG peers, while the FT mentioned a couple of the firm’s “huge […]

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South African Central Banker Not Hitting the Panic Button Re: KPMG

Despite the firm losing clients left and right up to and including today, one guy remains chill: Addressing a monetary policy forum public meeting in Cape Town, deputy governor Kuben Naidoo said the troubles at KPMG, which audits several South African banks and lost a number of local clients recently, will not pose a financial […]

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Here’s Your Open Thread for KPMG Compensation Discussions (2017)

KPMG celebrated its new year on Sunday, which means compensation discussions are starting. We’ve received several tips in recent days, and a couple of them not expecting much: Firm is pushing out information that results have been disappointing, overall seeing raises and [variable comp] substantially lower than in prior years. And: I was already told […]

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KPMG CEO Lynne Doughtie Knows Your Golf Game Sucks

Here’s another insufferable profile of a Big 4 executive that we dutifully read on your behalf. This one features KPMG CEO Lynne Doughtie and, sure, go ahead and read it if you have nothing better to do. She has a nice story; believe it or not, she “loved being an auditor”; she wanted to become […]

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Accounting News Roundup: KPMG and South Africa; More Occupational Hazards | 09.20.17

KPMG and South Africa Earlier this summer, Ukraine gave PwC the boot over some bad auditing. It was a humiliating moment but by no means a major blow to the firm as the inability to conduct business in Ukraine will not severely hamper PwC’s business. KPMG is facing similar threats of expulsion from South Africa, […]

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KPMG Settles With SEC Over a Giant Failure of an Audit

KPMG has settled SEC charges for $6.2 million due to a shoddy audit of an oil and gas company. The partner in charge of the job, John Riordan, also settled to charges, agreeing to a $25,000 fine and a suspension to practice before the SEC. He can re-apply in two years. KPMG did not admit […]

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Recruit Shuns KPMG for a Football Team, Surprising No One

Hell hath no fury like an accounting firm shunned, the old saying goes. Except that’s not an old saying, it’s something silly I just made up. Anyway, we stumbled across this article about a recently graduated Texas A&M football player, Connor McQueen, who is opting for a job on the team’s coaching staff rather than […]

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Would You Rather: Volunteer at the KPMG Women’s PGA Championship or Work at KPMG?

At first glance, the headline may sound like a silly question but hear me out! Deadspin’s Samer Kalaf pointed out that volunteers for the KPMG Women’s PGA Championship must pay $130 for the privilege for whatever it is volunteers at a major golf tournament do. Here are the details from the tournament website: If you […]

KPMG Breaks Ground on “Don’t Mishandle Leaked Info, Or Else” Training Center

I’m sure future visitors to KPMG’s now-under-construction training center will learn things aside from the fact that not turning over leaked PCAOB info in a timely manner is a bad career move, but it is an old lesson that recently became important again. Anyway, here’s your Twitter photo op: Breaking ground at KPMG’s #learning, development […]

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Accounting News Roundup: KPMG and Wells Fargo; Pass-through Tax Rates | 04.26.17

A different giant rabbit. KPMG and Wells Fargo As if KPMG hasn’t had a rough enough month already, that Wells Fargo stink is not washing off: Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo’s books during the time […]

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Big 4 Audit Quality Hiding in Plain Sight: Restatement Mentions in PCAOB Reports

For the last several years, one very interesting audit quality metric has not been widely reported in the media, and the largest audit firms barely mention it. It has been hiding in plain sight and could be a useful data point to audit committees or investors that are trying to understand the quality of audits. […]

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Let’s Revel in These Bitter 1-Star Reviews of Accounting Firms

I mentioned the Vault Accounting 50 yesterday, and even though we don’t pore over the listings like we used to, there’s still one part of them that we haven’t tired of yet: bitter 1-star reviews of accounting firms. So yes, I dug through the 1-star reviews of a few dozen accounting firms for an hour […]

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Let’s Play a Game of ‘Who Would Win in a Fight’ Accounting Edition

As you may have heard, busy season is over for many miserable accountants across the country. If you failed to get that memo, it’s time to avert your eyes from that spreadsheet and get some sleep, you’re obviously brain-dead and completely disconnected from the real world. Sorry. Rather than wallow in busy season gone by, […]

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Accounting News Roundup: When Good KPMG Auditors Go Bad and Brazen Tax Scams | 04.17.17

It’s hard to watch when auditors make bad decisions. When good auditors go bad The Wall Street Journal published a profile of Scott Marcello over the weekend, the now former Vice Chair of Audit for KPMG who was fired for his role in a ring of employees who received a leak of confidential information from […]

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Accounting News Roundup: Bad Press for KPMG and Revolving Doors | 04.14.17

Bad press for KPMG Last month we noted how PwC had become the Big 4 firm of ridicule and abuse after a series of bad publicity. We all knew that one day another firm would take PwC’s place on the dunk tank and, yes, as you might’ve guessed, that firm is KPMG. And it was […]

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Six KPMG Employees Fired After Leak of PCAOB Inspection Info

Updates to report that individuals were terminated appear throughout. Welp, this looks bad. The Wall Street Journal reports that six KPMG employees, including four partners and the firm’s head of audit, have been fired after a PCAOB employee leaked confidential inspection details to the firm. The departing KPMG employees include four partners and Scott Marcello, […]

kpmg auditors pcaob partners conspiracy

Accounting News Roundup: Corporate Taxes and KPMG’s Next Global Chairman | 03.09.17

Corporate taxes As you probably heard, heavy-equipment manufacturer Caterpillar had an unexpected visit from federal agents last week. Investigators from three different agencies showed up at the company’s headquarters in Peoria, Illinois to seize files, computers and whatnot and apparently this is not a common occurrence: “It’s not unusual to go in and do a […]

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KPMG Chicago’s Hiring Picking Up (Just Not for Auditors)

Claire Bushey reports in Crain’s that KPMG Chicago plans to hire 500 people over the next 3 years after hiring 500 people over the past 5. In my vivid imagination, Rahm Emanuel told them, “Quit fucking sandbagging.” In any case, the House of Klynveld’s growth doesn’t match a couple of its local Big 4 peers: […]

KPMG Officially Chooses Orlando for Its Mega Training Center

The 2nd bluest Big 4 firm is now also the 2nd Big 4 firm to commit to a gargantuan ‎training facility. KPMG announced today that it would be building "a state-of-the art learning, development, and innovation facility to further enhance the world-class training capabilities it offers to its partners and professionals," in Orlando's Lake Nona […]

KPMG Planning a Training Center That Will Surpass Deloitte University in Ridiculousness

Here's a report out of the Orlando Sentinel that KPMG is considering Orlando as a site for a mega training facility and conference center. The location isn't so much of interest as is the fact that KPMG is planning a $430 million, 800,000 square-foot campus. If you're wondering if that's bigger than Deloitte University, the […]

Elizabeth Warren Has Questions for KPMG Re: Wells Fargo

Last month we wondered aloud if KPMG would get dragged into this Wells Fargo kerfuffle. It took awhile, but it appears that Massachusetts Senator Elizabeth Warren has some fire leftover from her roasting of former Wells Fargo CEO John Stumpf for the bank's auditor, KPMG:

Are Big 4 Firms Getting Stingy?

The benefits to working for a Big 4 firm can be embarrassing sometimes. It’s just not things like weeks of PTO that you’ll never use or pet insurance, but also the day-to-day perks that come along with carrying the water for a behemoth professional services firm.

Here’s Your Open Thread for KPMG Compensation Discussions (2016)

Now that it’s fall, many public accounting professionals have been rewarded for all the hard work they put in last year. Some people are happy, some people are sad and everyone is still thinking, “I don’t get paid enough for this shit.”

Brace Yourself for the #AuditorProud Social Media Blitz

Ding. Ding. Are you ready for Round 2? It’s the second annual #AuditorProud day. Hey, wait a second. Wasn’t it in December last year? Actually, yes. At least we know now that the folks over at the Center for Audit Quality took a haphazard approach when selecting the day and it’s totally random. But hey, […]

Will KPMG Join Wells Fargo in its Walk of Shame?

In 2011, Going Concern speculated about potential issues with internal controls at Wells Fargo that prompted the then CFO, Howard Atkins, to abandon ship. Just a little foreshadowing of what is happening to good ol’ Wells this month. If you haven’t been following the news, here’s the scoop: Over the last 5 years a handful […]

Accounting News Roundup: KPMG’s Blockchain Services and Happy September 15th | 09.15.16

Blockchain Last year, KPMG announced a "strategic alliance" with Microsoft, one of the many instances of a mega professional services firm teaming up with a mega technology company. Today we learn that strategic alliance will now include blockchain things: Global accounting firm KPMG yesterday launched a suite of tools designed to help banks and other […]

KPMG Drops an Annoying, Dysfunctional, Possibly Corrupt Client

An editorial from the Orlando Sun-Sentinel has some wonderful details about the fallout between KPMG and Broward Health, one of the largest health systems in the country. Broward announced on Monday that KPMG was resigning as auditor. This came about, according to the Broward chairman, due to a misunderstanding: In a Friday letter to the […]

KPMG UK Succumbs to Millennials’ Bellyaching on Slow Recruitment Process

Millennials detest many things. This list of things would include: slow wifi signals; conventional produce, talking on the phone, check books, high fructose corn syrup, cars, shopping in a physical store, albums, coal, gluten, movies that don't stream on Netflix, being called a Millennial, and Millennial stereotypes, just to name a few. But perhaps one […]

SEC Accuses KPMG Partner, Two Others With Insider Trading

Thomas Avent, KPMG's Southeast region partner-in-charge of mergers and acquisitions is in a bit of trouble. The Securities and Exchange Commission filed a lawsuit against Avent, his stockbroker Raymond Pirrello and Pirrello's friend, Lawrence Penna of insider trading. The allegations are simple enough: Avent had access to material, non-public information through his KPMG's work of […]

Swiss Regulator Investigating Whether KPMG’s Audit of FIFA Is Worth Investigating

Well, this is something? Switzerland's Federal Audit Oversight Authority ("FAOA") will be kicking the tires on KPMG's audit of corruption factory/sports organization FIFA. "The FAOA is monitoring developments related to FIFA, and has selected for evaluation aspects of KPMG's work in connection with the auditing of the financial statements of FIFA," the FAOA, which helps […]

KPMG to Keep Phil Mickelson in Hats for Foreseeable Future

KPMG is standing by their golfing man. In the aftermath of the news that Phil Mickelson was named as a relief defendant in the SEC's civil lawsuit against famed gambler William "Billy" Walters and Dean Foods chairman Thomas Davis, all of Phil's corporate sponsors are hanging in there. Most notably for our purposes, KPMG issued […]

A Thing We Desperately Wish Were Real: A Photo of Phil Mickelson and Ex-KPMG Partner Scott London Yukking It Up

Texas A&M professor Mike Shaub put the idea in our heads and now we can't get it out: Waiting for the photo of Scott London and Phil Mickelson laughing at a firm event in T minus 5, 4, 3…. And it will be totally irrelevant. — Mike Shaub (@mikeshaub) May 19, 2016 Irrelevant or not, […]

KPMG’s PCAOB Inspection Report Is Out and It’s Not Good

Oh boy, KPMG's PCAOB inspection report is finally out. Michael Rapoport at the Wall Street Journal has the lowdown:

Hiring Watch ’15: KPMG ‘Lou Wants You

KPMG plans to hire 175 IT professionals in St. Louis. The positions "will range from entry level to management, will be part of KPMG’s national technology organization." So if you know anyone looking for an internal IT job, with an accounting firm, who wants to live in St. Louis, then I guess you should let […]

Here’s Your Open Thread for KPMG Compensation Discussions (2015)

Aka: KPMG Kompensation Konversations or KKK for short.

KPMG ‘Members Only’ Club’s Sole Drawback Is That You Might End Up Talking to an Accountant

Whether you're a captain of industry, a titan of finance or a scion of a mysterious fortune, an appropriate venue in which to conduct business is crucial. Having coffee at a Starbucks with a bathroom queue snaking around you isn't just distracting, it's undignified! The always-eager-to-please capital market servants at KPMG are sensitive to this […]

KPMG Gives Employees Enough Ice Cream to Last Them a Week

Ice cream is the best. If you don't enjoy a cone now and then, you have no soul. Sure, 90% of the companies that produce it don't follow the rules that would prevent foodborne illnesses, but it's ice cream! If we can't enjoy ice cream, then the terrorists have won. Oh, and don't bitch to […]

Take It Easy, KPMG Didn’t Pass GAAS in Its Audit of FIFA

Everybody leave KPMG the fuck alone. Sure the Department of Justice busted FIFA for taking more than $150 million in bribes and kickbacks after KPMG gave them 16 consecutive years of unqualified opinions. But KPMG’s hands are clean. That’s my unqualified opinion.   It’s clear that FIFA was a shitty client full of shitty people. […]

Lawyer: KPMG Not Much of a Keeper in FIFA Scandal

Francine McKenna gets in on KPMG’s flop as FIFA auditor today, and Jerry Silk, a lawyer who has represented investors in lawsuits against Big 4 firms, suggests that the firm may have been ball watching:  “With all the prior allegations of corruption and bribery leveled against FIFA and some of its member associations over the […]

Did KPMG Flop as FIFA’s Auditor?

The FIFA scandal is increasingly ridiculous as was so deftly shown by John Oliver last night. But now a Big 4 firm appears to be caught in the tentacles of it, which further demonstrates its depth and reach. A tipster dropped us a link to very interesting post from Matt Scott, a journalist who has […]

How’s KPMG’s Early Career Investment Bonus Program Working Out?

This month we've received a couple of tips wondering about the KPMG Early Career Incentive Bonus, something we initially covered way back in 2011. We also did a follow-up in 2013 when the first payouts were made.   For those with foggy memories, here's how it works: If you are a current CSD senior associate with […]

#FBF: The Time Bernie Madoff’s CFO Fooled a KPMG Auditor With a Refrigerated Trade Ledger

The Madoff scandal crept back into the news recently, as Frank DiPascali, a key figure in the both the Ponzi scheme and the trial his of former associates, died of lung cancer last week. Since speaking ill of the dead is typically frowned upon, it makes sense to pick on an auditor instead.  Lucky for […]

Allegations Against KPMG Exec Make Him a Contender for Worst Boyfriend of the Year

Quoting our tipster, "Wow. Just wow." The New York Post has the scoop: A TV meteorologist claims her millionaire ex-boyfriend forced her to abort their baby — and choked her while she was recovering from the procedure, Manhattan court papers show.   “I will kill you and our unborn child if you don’t have an […]

Ex-KPMG Partner Convicted of Insider of Trading Will Hit the Streets This Summer

Courtesy of James Ulvog, we learn that Scott London, convicted passer of material non-public information to a golf (former) buddy, is laying his head somewhere new: The Bureau of Prisons inmate locator shows that Scott London is currently under supervision of the Long Beach Residential Reentry Management office. His scheduled release date still shows at […]

What Should Lynne Doughtie Do First as KPMG’s CEO?

As you know, KPMG has elected Lynne Doughtie as its next Chairman CEO, the first woman to lead the firm.  She is only the second woman to lead a Big 4 accounting firm, the first being Cathy Engelbert, who took the helm at Deloitte just last month. SO! This is all very exciting. LD will […]

KPMG Saves Employee’s Bowling Career

Not kidding! This will be one of the weirdest headlines you'll read today: “Without KPMG’s support, I could possibly have ended my bowling career.” Jasmine Yeong-Nathan won the AMF World Cup in 2008, was Singapore's Sportswoman of the Year in 2009, has been that country's woman's national bowling champion twice ('09 and '14).   But like all […]

Plaintiff Who Filed Gender Discrimination Suit Responds to KPMG’s Women’s Leadership Campaign

Back in 2011, a former KPMG Senior Manager named Donna Kassman filed a $350 million class action lawsuit against the firm alleging "relentless gender discrimination and harassment." In addition, she claimed that despite speaking up, "the Company had no interest in remedying the situation." Since the story broke, we've followed developments including that 9,000 women […]

#TBT: The Failed Merger of Ernst & Young and KPMG

In the late 1990s there were 6 major accounting firms serving our capital markets with gusto. Then, in September 1997 the firms of Price Waterhouse and Coopers & Lybrand — #4 and #6 respectively — announced they would merge, creating the largest and integritiest firm in the world.  Not to be outdone, #2 Ernst & Young […]

Does KPMG Even Meme, Bro?

Apparently! From Fortune: As the stereotype goes, accountants are a species of professional often seen as spiritless human calculators—and not as indispensable visionaries. “‘Taxes must be boring.’ I get that all the time,” says Kirt Bocox, senior tax manager at KPMG, one of the firm’s many employees who dispute—indeed refute—that pre-conception. “People get the stereotype […]

KPMG Concerned Employees Can’t Resist Banging One Another

According to a tipster, KPMG distributed this the other day, because apparently sleeping with your coworkers is a serious problem over there.

Just How Many People Did KPMG Recruit This Year Anyway?

KPMG just proudly declared they've welcomed a record 54,000 Klynveldians into the Church of KPMG in FY14, 18,000 of those new graduates. That's a pretty big number. Just how big? Well, let's put it into perspective. The Pimbwe of Tanzania The entire population of the Pimbwe people, who call Sub-Saharan Africa home, is 54,000, according […]

Comp Watch ’14: KPMG Variable Comp is Out and Some Folks Aren’t Pleased

This just arrived in our inbox this morning, let's skip the formalities and get right to it: FY15 variable comp ranges for us behind-the-scenes slaves were announced today, 12/11. Who are they kidding? Don't they realize nearly everyone at Manager and below gets a 3 rating no matter how much they do, how much they […]

Which Big 4 Accounting Firms Offer the Best Perks for Parents of Adoptive Children?

The last time we dared to bring up the controversial topic of paternity leave, someone suggested breeding is great and all but what about the adoptive parents out there? "Many of you will be dads one day" And what about us who are gay? And for the dumbass who is going to ask – most […]

KPMG Gives the Department of Homeland Security a Clean Audit Opinion Because of Course They Did

Now, we won't go so far as to imply that KPMG auditors preferred not to end up on the Do Not Fly List (might make their job a bit tough were that to happen), but we will say does anyone want to be the firm that gives Homeland Security a qualified opinion? The description in […]

KPMG Wants You to Think About Why Women are Paid Less Than Men

In 2013, among full-time, year-round workers, women made 78 percent of what men were paid. We knew this. What we didn't know, however, is that KPMG wants us to think about why women are paid less than men. From economia: Speaking today Ingrid Waterfield, director of KPMG’s people powered performance practice, said it was crucial […]

PCAOB Inspection Report Hands KPMG Its AS5

Oh, man. The last remaining Big 4 inspection report of 2013 was released by the PCAOB today and we are proud to be the first to tell you, KPMG did not come in last as the haters might have expected. For two of the 50 audits inspected, KPMG was not the primary auditor but just […]

Some Current and Former Ladies of KPMG Can Expect Extra Special Mail Very Soon

If you're interested in keeping up with Kassman, et al. v. KPMG, the lawsuit alleging pay discrimination against current and former KPMG employees, this press release has some items of note: Today, approximately 9,000 women who work or worked at KPMG between October 2008 and the present should begin receiving in their mailboxes a Court-ordered […]

KPMG Is Looking for Volunteers to Receive More Thorough Audits

Yes, you read that correctly. After all, in changing the value of audits, KPMG doesn't want to force anyone to do it because that just wouldn't be cool. In a piece written for economia, Tony Cates, UK head of audit at KPMG writes: Earlier this year we field tested an innovative form of report that […]

KPMG Offering Expanded Audit Reports Because Regular Audit Reports are Useless

As part of its campaign to restore trust in audit in the wake of the financial crisis, the firm experimented with increasing the amount of useful information provided in the new long-form audit report, way beyond the minimum regulatory requirements. As well as reporting on the risks and the auditors’ response to them, KPMG also […]

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

We have held off on this one as long as we can, but some of you are anxious to get the results from our Compensation Survey and the only thing holding us up is this here compensation discussion. So let's get to it! Since compensation season kicked off, we've learned that accounting firms are having […]

Starry-Eyed Graduates in the UK Choose PwC As Britain’s Most Prestigious Employer

Another day, another ranking. Today's list comes courtesy The Times. For the sixteenth time, the Times has whipped up a list of the Top 100 Graduate Employers. By asking 18,336 graduates who left UK university in 2014"Which employer do you think offers the best opportunities for graduates?" the paper has awarded PwC with the top […]

KPMG’s Re-Audit of Ventas Teaches Us Boning Doesn’t Necessarily Ruin an Audit

Colin buried this in ANR this morning: Health-care real-estate investment trust Ventas Inc. ( VTR ) said a re-audit didn't result in any changes to its financial statements. KPMG LLP audited Ventas's 2012 and 2013 figures after Ventas said in July that it dismissed Ernst & Young "as a result of an inappropriate personal relationship" […]

KPMG Scores a Major Victory in the War Against Overtime

This just in, your dreams of collecting overtime for all your hard work have been summarily crushed in appeals court. We've been following Pippins v. KPMG for quite some time, as its outcome could have been a real game changer for everyone. Well, too bad, the game shall hereby remain the same. The idea, in […]

KPMG Exec: If the Public Knew How the Audit Sausage Was Made, They’d Appreciate the Taste a Little More

"I can understand why the public at large might feel let down. In hindsight, it is tempting to wonder why auditors were not more alert to a possible financial crisis. If the diligence and expertise that underpin audit reports were more visible, public views of the profession would be far more favorable." – Isabelle Allen, […]

Guy Leaves KPMG, Can’t Resist the Urge to Write a Sappy Farewell Email

There are basically three types of farewell emails: rambing, angry, expletive-littered rants (also called the Bridge Burner — a GC favorite) clever bro fist goodbyes that read like press releases dry, try too hard missives written like whatever you wrote in your best friend's yearbook the year you both graduated and went off to college […]

KPMG Congratulates KPMG On the Rothstein Kass Acquisition

Becoming number one in the hedge fund space wouldn't be an impressive achievement without a masturbatory press release celebrating it. KPMG delivers! KPMG LLP, the U.S. audit, tax and advisory firm, has completed its acquisition of certain assets of Rothstein Kass and the admission of most of the former Rothstein Kass principals and employees. The […]

Scott London Talks About Relationships, Rolex Watches and How He Hates that Parking Lot Picture

ICYMI, MarketWatch interviewed Scott London the other day — which I suppose was a good idea since interviews might get a bit more difficult after London heads off to prison to serve his 14 month sentence next month. In the interview, London comes off as approachably remourseful, almost like a grandma apologizing to her heirs […]

Here’s Your Open Thread for Omaha Steaks at KPMG

This is a really exciting time of year for some people at KPMG, if for no other reason than FREE MEAT. Yes, it's Omaha Steaks time again. Says one tipster: Surprised I haven't seen a post about this yet- my Omaha Steaks arrived today thanks to the house of Klynveld. Weiners, steaks, chicken and burgers […]

Another Family Office Group Flees Rothstein Kass After the KPMG Acquisition

Do we have a trend here? Perhaps. The founders of JDJ Resources Corporation have left Rothstein Kass Family Office Group to launch JDJ Family Office Services. Boston-based JDJ Family Office Services, which provides administrative multi-family office and personal CFO services to high net worth individuals and families, will retain its entire 21-person staff and continue […]

KPMG Leads the Way in Telling Interns What Not to Wear

KPMG loves to give its interns a hand when it comes to dress, handing out gift cards and goodies at summer and winter intern training to give them a head start on their business caj wardrobe. The winter intern situation got a little awkward this year when KPMG decided the ladies needed camisoles while the […]

Rothstein Kass Refugees Are Starting Fresh After the KPMG Acquisition

We heard a lot of chatter in the comment section after we first started reporting on KPMG acquiring Rothstein Kass, but one theme was pretty obvious: those who wanted to stay at RK were worried about the impact of a merger and wondering if they should leave now or wait it out. One Rothstein Kass […]

Steve Kass Insists He Meant It When He Said Rothstein Kass Wasn’t For Sale

When we first started hearing rumors of a Rothstein Kass KPMG merger in February, one of the items we were sent along with tips that an acquisition would be forthcoming was a letter from RK CEO Steve Kass that went out to staff in July of 2013. A highlight:

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 […]

KPMG Plans to Stand By Their Man Phil Mickelson

Our buddy and fellow accounting enthusiast Michael Rapoport shared the good news via Wall Street Journal last night: KPMG LLP indicated Monday it continues to support golfer Phil Mickelson, with whom the accounting firm has a long-running sponsorship agreement. In a statement, KPMG said, “We have had a very strong relationship with Phil for a […]

Phil Mickelson (But Not His KPMG Blue Hat) Is Now Embroiled In a Possible Insider Trading Scandal

First the official news of a Rothstein Kass/KPMG merger hits when I'm wandering the wilderness of a Richmond Civil War POW camp on a workout last night and now this. Can you people just keep your scandals to regular work hours? YEESH. We get this from the NYT tonight: The divergent lives of a championship […]

Oh Look, KPMG Is Acquiring Rothstein Kass

Well, what have we here? It's an article from the Journal's man on the accounting beat, Michael Rapoport: KPMG LLP is going long on the market for hedge-fund services. The New York accounting firm on Thursday agreed to buy Rothstein Kass, a New Jersey firm that caters to hedge funds and other alternative investment firms. As you […]

KPMG Is Holding a Live Facebook Chat on Branding Tonight

Personal branding, not the kind cows get with a hot poker on their round steak. Here are the details: How will YOU stand out? Branding yourself is a great way to discover things that make you who you are, develop key messages about your strengths and abilities, create a consistent look and voice, and market […]

This One Chart Tells You Everything You Need to Know About a Rothstein Kass Acquisition

From the first moment the Rothstein Kass KPMG rumors started circling the bowl, it was pretty clear that RK's golden child is its hedge fund practice. Surely KPMG wasn't interested in the deal just so they could acquire Rothstein Kass' novelty cell phone stand named Trusty. Well, Audit Analytics put things in handy chart form […]

The Rothstein Kass/KPMG Merger Is Most Definitely On and Happening Soon, Says This

Hedge Fund Alert is subscription only so we don't have much but we do have this: After months of rumors, big-four accounting firm KPMG has reached an agreement to acquire Rothstein Kass — a deal that will make KPMG one of the top three hedge fund auditors. The deal could be announced within a week […]

Now Kids Interested in an Accounting Career Can Get a Virtual Tour of KPMG

All my life, I've wanted to be a writer. There was never any question — although my guidance counselor questioned my plan to publish sci-fi novels before the age of 21 and retire rich on some Central American beach — so I treated most of our Career Days like a joke (much like I treated […]

Scott London Sentenced to 14 Months in the Can and a $100k Fine

Let this serve as a reminder of what can happen when you meet shady looking dudes in a Starbucks parking lot.

This Poor Guy Is More Bummed Than Anyone at KPMG About Billion Dollar Brackets

Remember when KPMG reminded its employees that they — and their immediate families/baby mamas/dogs — were ineligible to participate in the Yahoo/Quicken Loans Billion Dollar Bracket Challenge because KPMG was serving as "independent observer" to the contest? And remember how angry that made you if it affected you? Deadspin has the story of a guy […]

Who Needs a CFO When You Have an Ex-KPMGer Running the Show?

Colin already got to this L&L Energy LOLery in ANR but in case you missed it, here's just a teaser from the SEC: The SEC’s Enforcement Division alleges that L&L Energy Inc., which has all of its operations in China and Taiwan, created the false appearance that the company had a professional management team in […]

(UPDATE) Some KPMGers and Their Kin a Tad Outraged They’re Missing Out on a Billion Dollars

We've put out a call for a copy of the email, which appears to be internal (hey, maybe YOU can share with the class), but until then, let's take a look at what has Klynveldians all worked up this time: WTF!! KPMG employees cannot enter in the Billion Dollar Bracket Challenge 🙁 "Quicken Loans has […]

KPMG Was Never Out of the Consulting Business, FYI

As we all know, the period of time circa 2001-2002 were not the best of times for the ol' auditing firms. Accounting scandals were aplenty, Arthur Andersen went down for the dirt nap and Heineken even got a holiday commercial out of it. And of course, we got Sarbanes-Oxley. A big sticking point from those […]

John Veihmeyer Not at All Ashamed to Talk Scott London to Business Students

Too bad I didn't hear about this sooner or I totally would have tried to crash this party. Freshly christened KPMG Global Chairman and still KPMG US CEO and Chairman John Veihmeyer schooled the kids at University of Richmond’s Robins School of Business this week, and he wasn't at all afraid to say the L […]

According to This, a Bunch of Folks at Rothstein Kass Are Hitting the Pavement

Well, this is an interesting twist to the Rothstein Kass KPMG merger drama. We're glad to see our friends at Accounting Today getting on this: For the last few weeks the accounting profession’s rumor mill has been buzzing with stories that Rothstein Kass is about to be acquired by KPMG. Is this all just a […]