Partners

Compensation Watch ’19: Partners Are Down with IPP

I got an email the other day about the latest Rosenberg MAP Survey being available for purchase, and because I don’t have an extra $500 laying around (and neither do The Powers That Be at Accountingfly), I went looking for highlights from this year’s survey instead. And I stumbled upon some updated info about income […]

Ex-PCAOBer Jeffrey Wada Gets Prison Time For Being a Blabbermouth In KPMG Scheme

Being passed up for a promotion can cause a person to do really dumb things in a fit of anger. For now-former PCAOB inspections leader Jeffrey Wada, the really dumb thing he did was illegally tip off executives at KPMG—not once but twice—about which KPMG audits the PCAOB would be reviewing so the firm could […]

Layoff Watch ’19: Grant Thornton U.K. Cuts Reach the Partnership Level

Let’s face it, 2019 hasn’t been the best year for the Queen’s Grant Thornton, and neither was 2018. Let’s recap: 2018 Stopped bidding for new audit work at the largest U.K. companies. Patisserie Valerie accounting fraud; Grant Thornton was the auditor and is under investigation by the Finanical Reporting Council. Fined £3 million by the […]

Promotion Watch ’19: Moss Adams Admits 28 New Partners

More than two dozen of Moss Adams’s finest got a Golden Ticket from the accounting firm’s very own Willy Wonka, Chairman and CEO Chris Schmidt, on Oct. 1. While we’re not sure if the new partner class of 2019 is the largest in the firm’s 106-year history, it is the biggest since 2014: 2018: 21 […]

Promotion Watch ’19: RSM Adds 80 New Partners and Principals

Whoa, the newest crop of partners and principals might be the largest ever at R to the S to the M. The good news was shared via Twitter on Oct. 1. AND THERE ARE FUN FACTS! Let's give it up for our 80 newest partners and principals! 🎊🎉 https://t.co/CEF9Uo7kDy pic.twitter.com/vKD78mYRyN — RSM US LLP (@RSMUSLLP) […]

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Another One of the ‘KPMG 5’ Has Pleaded Guilty In PCAOB Scheme

David Britt is the latest former KPMG partner who has admitted guilt for participating in a scheme to steal confidential audit inspection information from the PCAOB. Britt, 56, who was a co-leader of KPMG’s Banking and Capital Markets Group, pleaded guilty to one count of conspiracy to commit wire fraud on Oct. 3. His trial […]

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Promotion Watch ’19: BDO Admits 48 New Partners

Wayne Berson is letting 48 lucky guys and gals join the club, in what is one of the largest new partner classes in BDO USA’s history. Says Wayne-o: “We are proud to welcome the largest class of partners at BDO in more than 20 years,” said Wayne Berson, CEO of BDO USA. “Each of our […]

Promotion Watch ’19: Let’s Congratulate Deloitte’s 386 New PPMDs for FY 2020

It’s been quite a while since we’ve done a post on new partner promotions at Deloitte, so we wanted to give some kudos to not only the 65 new partners in the class of 2020, but also the 236 managing directors and 85 principals who were recognized by Ucuzoglu & Co. for a job well […]

Ex-KPMG Partner David Middendorf Was Spared a Lengthy Prison Sentence

A second member of the “KPMG 5” will serve jail time for his involvement in an information-stealing scheme to cheat the PCAOB inspection process. David Middendorf, former national managing partner for audit quality and professional practice at KPMG, was sentenced this morning in Manhattan federal court to one year and one day in federal prison, […]

Ex-KPMG Partner’s Request to Have His Wire Fraud Conviction Thrown Out Gets Shot Down, Crashes, Burns

Welp, so much for that. David Middendorf, former national managing partner for audit quality and professional practice at KPMG, is scheduled to be sentenced in Manhattan federal court tomorrow, according to Law360, for his role in an information-stealing scheme in which PCAOB insiders fed KPMG executives secret plans on which of the Big 4 firm’s […]

KPMG U.K.’s WhatsApp Fiasco Claims Two More Partners

Let’s take a look and see how things are going in KPMG U.K.’s financial services consulting business now that two more partners are leaving the firm after their boss was fired last month over messages he apparently sent on WhatsApp: The KPMG financial services consulting practice is now “a bit of a disaster zone,” a […]

Ex-KPMG U.K. Partners Start Consulting Firm Devoid of Any Big 4 Bullsh*t

Remember Maggie Brereton and Ina Kjaer, the two KPMG U.K. partners who quit earlier this year because the firm protected a male partner who was accused of being a bully? Well, the two women have launched their own consulting firm that they say will be everything the Big 4 is not. The name of their […]

Promotion Watch ’19: Marcum Adds 16 New Partners

While Major League Baseball teams expanded their rosters on Sept. 1, Marcum expanded its partner roster on Sunday, calling up 16 men and women to the big leagues. This year’s new partner class is by far the firm’s largest since 2010. The only one that comes close is 2017’s 13 promotions. Let’s take a look […]

Promotion Watch ’19: Grant Thornton Admits 42 New Partners and Principals

The last month hasn’t been the greatest for Grant Thornton, as the firm gave pink slips to 230 professionals and 40 PPMDs, approximately 3.5% of its workforce, at the end of July. So GT’s leadership probably wanted to wait until the dust settled before they announced that interim CEO Brad Preber had recently handed out […]

WhatsApp, KPMG? U.K. Partner Given the Heave-Ho Over Messages He Sent

More hijinks going on at KPMG U.K., as reported yesterday by the Financial Times: KPMG has forced out the head of one of its core businesses in Britain after an investigation into his conduct involving messages sent on WhatsApp. Tim Howarth, head of financial services consulting at KPMG, is the third senior partner to be […]

Ex-KPMG Executive Director Who Was Major Player In PCAOB Cheating Scandal Sentenced to Eight Months In Jail

The first prison sentence was handed out today in Manhattan federal court to one of the five former KPMG executives indicted in a scheme to steal confidential audit inspection information from the PCAOB. Cynthia Holder, a former PCAOB inspections leader who later worked as an executive director at KPMG, was sentenced to eight months in […]

What Price Wrong-Doing? Sanctions Against KPMG Are Complicated

“Sell in May and go away” was an investors’ adage invoked as vacation strategy in a more genteel era. Returns in the summer were said to lag the rest of the year—and in any event, that’s how brokers justified their holiday cottages on the eastern seaboard. This year the maxim has twice failed my attempt […]

Promotion Watch ’19: EY Admits 733 New Partners Worldwide

Because July 1 kicks off a new fiscal year at EY, we figured a new partners announcement would be forthcoming. And it came today, via the new leader of the Black and Yellow, Carmine Di Sibio: Our Global Chairman and CEO, Carmine Di Sibio congratulates our new partners around the world. Their contributions have helped […]

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KPMG U.K. Doesn’t Really Care If You Don’t Like How It Handled Complaints Against Partner Accused of Bullying

We were so busy trying to wrap our heads around the $50 million fine the SEC gave KPMG last week for its auditors’ involvement in two separate scandals and which of the two might be more damaging to the firm’s reputation that we missed a new article about the bullying allegations made against KPMG U.K. […]

SEC Says $50 Million Fine For KPMG Is ‘Significant’ and ‘Appropriate’ For All That Cheating Going On

The SEC made official today the news that Dave Michaels of the Wall Street Journal broke late last week, announcing that KPMG will pay $50 million to settle allegations that former partners “stole the test” by using confidential information that was being fed to them by a PCAOB insider to improve the firm’s performance on […]

$50 Million Fine SEC Is Reportedly Giving KPMG Over PCAOB Scandal Isn’t Big Enough

Dave Michaels of the Wall Street Journal broke some huge news late last night about a huge fine the SEC could levy against KPMG later this month because of several former partners’ involvement in one of the biggest U.S. accounting scandals in recent years—stealing secret audit inspection information from the PCAOB. KPMG LLP is preparing […]

Here’s More Proof That KPMG U.K. Totally F*cked Up the Way It Handled Bullying Allegations Against Partner

The Financial Times reported today that three—THREE—senior executives at KPMG U.K. were aware of and ignored concerns from staff as early as 2017 alleging senior partner Sanjay Thakkar was acting like a bully before they finally got around to launching an investigation about the complaints last October. KPMG employees approached the firm’s UK managing partner Philip […]

KPMG U.K. Partner Accused of Being a Bully Decides He Probably Shouldn’t Be a Partner Anymore

Remember that KPMG U.K. male senior partner we told you about last week, the one who was accused of being a bully and was found by the firm to have acted like a jerk but not a bully when he was probably acting like a bully, and then two well-respected female partners quit in protest? […]

Promotion Watch ’19: PwC Admits 249 New Partners and Principals

The most prestigiest firm in all the land unveiled its 2019 class of new partners and principals on May 31, and it’s another big one: I am thrilled to welcome 249 new partners to our @PwCUS family! These leaders have led by example and I'm excited to see what the future holds for them and […]

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Two KPMG U.K. Female Partners Had Enough Of Working At a Firm That Protected An Alleged Bully

Last December we learned that the Big 4 firms across the pond sacked nearly 40 partners (probably all men, although we don’t know for sure) within the past four years for inappropriate conduct, such as sexual harassment and bullying, seven of whom had worked at KPMG. But KPMG evidently sided with a male partner who […]

Ex-KPMG Partner David Middendorf Believes He’s Been Done Wrong, Wants a Crack At a New Trial

Don’t get out those orange prison jumpsuits just yet for former KPMG partner David Middendorf and former PCAOB inspections leader Jeffrey Wada. The two men are asking a Manhattan federal court to throw out their wire fraud convictions or grant them a new trial, saying the government didn’t provide enough evidence to support the guilty […]

Ex-KPMG Executive Director’s Sentencing Put Off Until June

We won’t know until June at the earliest how much prison time former KPMG executive director Cynthia Holder will get for her involvement in a scheme to steal confidential audit inspection information from the Public Company Accounting Oversight Board. Holder was supposed to be sentenced in Manhattan federal court on April 5, but her sentencing […]

Ex-KPMG Partner’s Fraud Trial: David Middendorf and Jeffrey Wada GUILTY!

A Manhattan jury on Monday convicted former KPMG partner David Middendorf and former Public Company Accounting Oversight Board staffer Jeffrey Wada for their roles in one of the biggest accounting scandals in recent years. Law360 court reporter Jack Newsham broke the news on Twitter earlier this afternoon: BREAK – Middendorf, Wada convicted on all but […]

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KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Parts I and II

We here at GC HQ love a good poaching, especially when it involves two of the top six firms in the U.S. So we were happy to see this press release from KPMG come across our virtual desk this morning: Mark Rems has joined KPMG LLP, the audit, tax and advisory firm, as a principal […]

Ex-KPMG Partner’s Fraud Trial: David Middendorf Takes the Stand

Law360 court reporter Jack Newsham wrote on Feb. 28 that it could happen this week, and he was right: Former KPMG partner David Middendorf took the stand this afternoon to testify in his own defense. MIDDENDORF TAKES THE STAND — Jack Newsham (@TheNewsHam) March 4, 2019 Authorities have said that Middendorf and four of his […]

Ex-KPMG Partner’s Fraud Trial: What David Middendorf Allegedly Said Once the Scheme Started to Unravel

OK guys, things are starting to get good in the David Middendorf trial. We now know the identity of “Partner-5”—the person at KPMG who allegedly blew the whistle on the information-stealing scheme that five KPMG executives and one Public Company Accounting Oversight Board employee were involved in to help KPMG know ahead of time which […]

Ex-KPMG Partner’s Fraud Trial: Brian Sweet Takes the Stand

The trial of ex-KPMG partner David Middendorf keeps rolling along, as prosecutors on Feb. 19 called on one of the major players in the scheme to steal secret audit inspection information from the Public Company Accounting Oversight Board to testify against Middendorf. Brian Sweet, a former associate director at the PCAOB who later became a […]

Ex-KPMG Partner’s Fraud Trial: Opening Arguments

A jury heard opening arguments in a Manhattan courtroom on Feb. 12 in the trial of a former high-ranking audit partner at KPMG who was charged with conspiracy and wire fraud for his role in a scheme to cheat the Public Company Accounting Oversight Board inspection process. David Middendorf and co-defendant Jeffrey Wada, a former […]

Crowe Admits 24 New Partners and Principals

No, the amount of new partners and principals elected by Crowe LLP wasn’t 26—the number worn by former Nashville Predators rugged left winger Phil Crowe. But the firm will be giving 24 professionals a seat at the big kids’ table come April 1, 2019. The 2018 new partner and principal class at the top 10 […]

Plante Moran Adds 15 New Partners

Promotion Watch has landed in the Detroit ’burbs, where 15 men and women at top 15 firm Plante Moran have received their partner badges. Plante Moran’s partnership classes have gone up and down in numbers in recent years, kind of like Going Concern’s page views: 2018: 15 2017: 21 2016: 13 2015: 16 Much like […]

Moss Adams Admits 21 New Partners

When it comes to new partner promotions, Going Concern has never given much love to Moss Adams. But that ends today! Earlier this month, the top 15 firm, based in Seattle, gave 21 men and women keys to the partnership. This year’s class is rather large by Moss Adams standards: 2018: 21 2017: 14 2016: […]

RSM US Adds 68 New Partners and Principals

Oct. 1 was a big day for the denizens of RSM US, as 68 new partners and principals were released into the wild. RSM is pleased to announce our 68 newest partners and principals! https://t.co/seOK5zui4F pic.twitter.com/YqsSwVGjiA — RSM US LLP (@RSMUSLLP) October 1, 2018 This year’s class of new partners and principals at the firm […]

Ex-EY Partner to CEO Mark Weinberger: ‘Let’s Make EY a Better Place to Work for Women’

In a Sept. 26 letter to EY Global Chairman and CEO Mark Weinberger, former partner Karen Ward, who filed a sexual harassment, gender discrimination, and retaliation complaint against the firm earlier this week, invited the firm’s leadership and board of directors to meet with her to “discuss my experiences at EY and additional ways in […]

Another Former EY Partner Has Filed a Sexual Harassment Complaint Against the Firm

[Updated on Sept. 25 with allegations from the complaint, full statement from EY, and full statement from attorney Michael Willemin.] A former female partner at EY filed a complaint with the Equal Employment Opportunity Commission on Sept. 24, accusing the firm of sexual harassment, gender discrimination, and retaliation. This is the second such complaint filed […]

CONFIRMED: Public Accounting Firm Partners Are Filthy Rich

Hear that squeaky, rattling sound? That’s a partner pushing a wheelbarrow full of cash through the hallways of your firm. Accounting Today has some highlights from the latest Rosenberg MAP Survey, which includes this tidbit: This year, the survey found that income per partner increased to $441,000, or 3 percent higher than last year. However, […]

Deloitte Australia Is Going to Allow Partners to Work There Until They Become Old Geezers

We’re just chock full of news about Deloitte Australia today. Earlier on, Adrienne poked fun at the firm’s ridiculous career break program. Then we come to find out that Deloitte is going to allow its partners to work there until they are frail and barely breathing—as long as they are making a meaningful contribution to […]

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Grant Thornton Admits 32 New Partners and Principals

This just in from the Purple Rose of Chicago: Grant Thornton LLP has admitted 32 new partners and principals, and promoted 29 to managing director, effective today. Specifically, 20 new partners and 12 new principals are members of the class of 2018. Here’s how this year’s numbers compare to previous years’ new partner/principal promotions at […]

EY Promotes 747 New Partners Worldwide

We here at Going Concern have been anxiously awaiting the new EY partners announcement, and it finally came today. The 747 new partners worldwide in the class of 2018 is the most in three years. So, I suppose fireworks were in order: Today we're proud to celebrate our 747 diverse new partners around the world […]

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Deloitte ‘Betrayed Me,’ Alleged Sexual Assault Victim Told CEO in Email

A former Deloitte Bermuda staffer who has accused a senior partner in the Big 4 firm’s New York office of sexual assault emailed Deloitte LLP CEO Cathy Engelbert in 2017 about the alleged attack and said the firm “betrayed me,” according to a July 9 NBC News report. The senior partner has not been charged […]

Report: Ex-Deloitte Bermuda Staffer Accuses U.S. Partner of Sexual Assault

The Australian Financial Review reported on July 3 that a woman who used to work in Deloitte’s Bermuda office has accused a male senior partner from the Big 4 firm’s New York office of sexual assault in a Bermuda hotel room in August 2015. The woman, who did not want to be identified in the […]

Baker Tilly Admits 11 New Partners

Apologies for this slipping through the cracks, but earlier this month, Baker Tilly Virchow Krause announced it was bringing 11 new partners onboard. The new partners—four ladies and seven gentlemen—officially got their stripes on June 1. Since 2013, Baker Tilly has admitted an average of about 11 partners a year, so this year’s class is […]

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PwC Admits 233 New Partners and Principals in the U.S.

A tipster (Caleb) let me know that PwC released its list of new 2018 partners and principals across the United States and Mexico on June 1. This year’s crop totals 233, which surpasses the 212 who joined the ranks of partner or principal in 2017. In comparison, there were 226 in the 2016 class, 201 […]

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BDO USA Admits 37 New Partners

Caleb sure picked a bad time to start a new job. New partner announcement season was one of his most favorite times of the year. I’m sure he’s celebrating the start of this season from afar. Today, BDO USA announced that 37 new partners will be admitted to the partnership, effective July 1. The 2018 […]

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If EY Treats a Partner Who Reports Sexual Misconduct Like This, What Hope Do Other Employees Have?

Update in the 18th paragraph includes an additional statement from Ernst & Young. One of the more shocking details from the sexual harassment complaint against Ernst & Young is that even though the victim, Jessica Casucci, was a partner, other partners and senior officials in the firm either did nothing or took action to protect […]

Former PwC Partner Suing Firm After Getting Fired for Groping a Co-worker Who He Can’t Remember Groping But Knows He Didn’t Grope

Let’s say you’re a professional businessperson and you’re at a work event. Let’s also say that you and your colleagues are wearing costumes. And let’s also say that there’s plenty of alcohol and some people are overserved and you are one of these overserved persons. At some point in this scenario, while you’re deep in your […]

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What to Do if You Find Yourself Reverse Mentoring a Public Accounting Partner

It’s no secret that public accounting churns and burns its employees. Burnout is a cost of doing business. The result is fewer people embark on the partner track and those who become partners plan on staying put. I’d say most of those partners are crossing their fingers that the gravy train keeps chugging along from […]

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To Partner or Not to Partner: That Is the Senior Manager’s Question

A while back, a Big 4 senior manager reached out to share his plight. In short, this person told us making partner in a big firm is nothing but a game; tn this person’s words, “[There’s a] Game of Thrones-esque BS that goes on in the firm as people try to jockey to be promoted […]

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The Number of Women Partners in Accounting Firms Is Still Abysmal

Earlier this month, the AICPA Women’s Initiatives Executive Committee (WIEC) issued its second CPA Firm Gender Study and its findings are not encouraging. The survey found that partnership on average remains overwhelmingly male. The current survey shows little change from studies done in years past, which have typically found less than one-quarter of the partnership […]

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Grant Thornton Admits 39 New Partners and Principals

Who are the new Grant Thornton partners? Glad you asked. The firm announced them earlier today along with new principals and managing directors, as is customary for the Purple Rose of Chicago. If you like to parse these things out, then it breaks down as: 27 partners, 12 principals and 28 managing directors. In the […]

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Accounting Firm Partners Impressed by Millennials Not Acting Millennialish

Sure, these millennials look like they aren’t doing anything. But these are just stock photos. They aren’t real life. In this column at CPA Practice Advisor, accounting firm consultant Marc Rosenberg writes about putting a bunch of partners into a room with a couple of millennial accountants and hilarity ensues when they all break out […]

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The Number of Female Audit Partners Is Terrible

A new study shows that women are drastically underrepresented as audit firm partners, averaging only around 16 percent for audit partners with U.S. audit clients. In some cities such as Washington, D.C. and San Jose, California, the percentage of female partners was around 10 percent. Yikes. The Big 4 firms performed a little better than […]

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EY Promotes 669 New Partners Worldwide; Numbers Down for Second Year in a Row

Yeah, it’s the old logo, but I’m sure the firm prefers it to shirtless dudes. Sorry, it seems I’m a bit slow to the new EY partner news. Here’s Mark Weinberger on Sunday: We are committed to developing and strengthening our pipeline of diverse leadership. #BetterWorkingWorld pic.twitter.com/rwui5G0Nvc — Mark Weinberger (@Mark_Weinberger) July 10, 2017 There’s […]

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BDO Admits 36 New Partners

Congratulations to the 36 very good boys and girls who can count themselves among the flock of BDO’s chosen ones. Okay, maybe that’s a touch extravagant for a BDO partner, but that does not diminish the achievement. This year’s class is a smidgen smaller compared to last year’s 39, but it’s still a large class […]

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PwC Admits 212 New Partners and Principals in U.S.

I think this year’s new PwC partners should feel extra special on their day of recognition because it also happens to be National Doughnut Day. Even if you NEVER eat doughnuts, I think you can forgo discipline for the day the world learns that you’ve become a partner at PwC. This marks the second year […]

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Here’s Some BDO Partners Getting Pied in the Face

As far as good ol’ fashioned comedy bits go, a pie to the face still holds up well. It won’t get the biggest laugh, but it sure is satisfying to watch. Someone at BDO knew this and put it to work by incorporating it into their campaign to raise donations for National Red Nose Day. […]

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Accounting Firm Partners Everywhere Managing Expectations at Home

CPAs’ cats everywhere are all like… It’s been a wild week in the tax world, even if it’s mostly been bluster. Talk of tax cuts has corporate executives, rich people, and sitting U.S. Presidents all hot and bothered. But it probably has a lot of accounting firm partners fantasizing too, not only because they’re dreaming […]

Grant Thornton Admits 47 New Partners and Principals

Grant Thornton announced its new partner class yesterday and while this year's group was slightly smaller than last year's class of 50, it's still far larger from those in recent years. There were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Here's the newly […]

Sponsored: At Armanino, Pursuing a Niche Results in More Than Just Making Partner

This is sponsored content brought to you by Armanino, an Accountingfly Firm Partner. In January 2016, Jason Gilbert became a partner at California-based Armanino LLP, 10 years after walking in the door as a 24-year-old staff accountant.  His rise took the usual hard work and talent, but he clinched the partnership spot by getting creative―and […]

BDO Admits 39 New Partners

Oh look, we have more new partner news. BDO actually made this announcement a few weeks ago, but no matter, the new partners officially got their stripes on July 1. The 2016 class of 39 marks the seventh straight year of growth. There were 30 new partners in 2015, 24 in 2014, 16 in '13, […]

EY Admits 714 New Partners Worldwide

It’s a new fiscal year in the EY universe which means a new partner class. Here’s a tweet and a video:

Close to Partner, But Having Second Thoughts

PwC announced its new partner class last week and it's a reminder that becoming partner in accounting firm is an impressive career milestone. Yes, despite a ton of opportunities to find meaningful, less soul-sucking work elsewhere, a few of you reading these words right now will become partners and live to tell about it (at […]

PwC US Admits 226 New Partners and Principals

For the last several years, we've enjoyed announcing the new PwC partners in these pages. We've always managed to spoil the surprise but this year, it seems that the firm has beat us to the punch, rolling out the 2016 class on their website along with headshots, market, home office and line of service. We […]

Partner Names: Coming to an Audit Near You in 2017

After nearly seven years since the first concept release, the SEC approved the PCAOB's rules for disclosing the names of audit engagement partners and other participating firms. You can read the entire SEC order if you find the securities regulation apparatus fascinating. Personally, I think it's interesting that another round of comments is allowed prior […]

PwC Selects Tim Ryan as New US Chairman

And because this is 2016, he tweeted it: Tremendously honored and humbled by the opportunity to lead this extraordinary firm. https://t.co/2zsrOwANYd #PwC — Tim Ryan (@Timothy_F_Ryan) April 12, 2016 Ryan replaces Bob Moritz who's going on to be PwC's global chairman. They both assume their new roles on July 1. I have to say, I'm […]

Auto Supplies, a Condescending Partner and Chick-fil-A: An Inventory Count Horror Story

What is the worst inventory observation you’ve ever done? My coworker once counted grain and had to scale the enormous storage vat and look down into it. That wouldn’t work for me. I harbor a pathological fear of falling into one of those things, suffocating among the wheat shafts, and winding up ground into a box of breakfast cereal. (I had a damaged childhood, okay?)

Let’s Discuss: Non-Equity Partners in Accounting Firms

If you have career aspirations to be a partner at an accounting firm, achieving the status of a "non-equity partner" might not be what you had in mind. The whole point of being a partner, I think, is the opportunity to have some skin in the game. Yes, you also have a say on how […]

Here’s Another Lousy Stat on the Number of Women Partners in Accounting Firms

In case you needed another crummy datapoint to help illustrate the gender disparity at the partner level in the accounting profession, this finding from the AICPA's Women’s Initiatives Executive Committee CPA Firm Gender Survey should do the trick: Many firms have non-equity partner tracks that don’t include ownership in the practice. The WIEC survey found […]

Yep, Almost All Accounting Firm Partners Are Still White Guys

The other day we mentioned the AICPA Trends report, specifically, the growing number of accounting graduates and the talent shortage at small CPA firms. Oh! And fewer people are sitting for the CPA exam, that too. If you're just joining us, hop over there to join the discussion. Today, we'll cover something that really isn't […]

Grant Thornton Admits 50 New Partners

Grant Thornton deified 50 new partners on August 1st, according to a firm press release. This year's class size dwarfs those from recent years; there were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Purple Rose of Chicago CEO Mike McGuire heaps on the […]

The Monthly Close: PwC Partners Drink the Blood of the Proletariat

Another month, another set of closing jokes. Here's what Greg Kyte & Co. covered for the May close:  The 2015 PwC partner class That time Bernie Madoff's CFO stuck a phony ledger in the refrigerator Insecure millionaires Grant Thornton's audit of the Marine Corps A CPA tattoo. More Monthly Close:April '15: The Monthly Close: That […]

EY Admits 753 New Partners Worldwide

It's New Year's Day in the EY universe which means a new partner class. The firm dropped the news on their site earlier today: EY today announced the promotion of 753 of its people to partner, its largest increase since 2008 and a 12% increase over 2014. This year, EY added a record number of […]

PwC Walks a Fine Line Between Its People and Clients on Same-Sex Marriage

Maybe you heard, but the Supreme Court ruled on Friday that same-sex couples would be allowed to marry in all 50 states. It was an enormous victory for civil rights and serves as a reminder that America can still get something right. In their quest to be the diversitiest and inclusiviest, the Big 4 have […]

BDO Admits 30 New Partners

Effective July 1, 30 new partners will get a seat at BDO's adult table. This class is the largest since we've been covering the firm's partner promotions. There were 24 in 2014, 16 in '13, 15 in '12, 13 in '11, and 5 in '10. I count 7 women on this list and, oddly, everyone […]

Here’s the PwC Partner Class of 2015

Well, this is exciting. The list of new PwC partners fell into our lap earlier today and now we're sharing it with you. They all officially join the partnership on July 1, the firm's New Year's Day. There are 201 partners in the 2015 class, one of the largest ever. The firm named 180 last […]

SEC Didn’t Appreciate McGladrey Partner’s Lack of Attention to Detail

Here's a story of hedge fund of fund guys doing hedge fund of fund guy things — onshore fund, offshore fund, master fund, an investment advisor, along with a couple other affiliated companies — and not being very good at some of the finer points: An SEC investigation found that Alpha Titans LLC, its principal […]

This One Chart Tells You Everything You Need to Know About Diversity in the Accounting Profession

So, we're working on a somewhat involved piece — which we'll debut later in the month — on diversity and socioeconomic barriers to the profession. In our research, we turned to the 2013 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report, which is chock-full of all kinds of […]

Let’s Catch This PwC Partner Up on the Fun Stuff She Missed Over the Last 20 Years

At least she did not miss out on the iconic 1992 film Encino Man.

Here’s The Real Reason Mid-Tier Firms Are Merger Mad

As we know, BDO and McGladrey have both been on a very busy acquisition streak lately. BDO picked up one of Ohio's biggest firms with SS&G and then grabbed UHY's Texas practice. McGladrey, meanwhile, gobbled up sub 100 firm Cole + Reed out of Oklahoma. We're talking apples and oranges when it comes to size, […]

Just How Big a Share of EY’s Revenue Do Partners Get Anyway?

EY recently reported global combined revenue of $27.7 billion, or approximately eleventy bazillion in OMGdollars. Just how much of that do partners see? Unfortunately, we don't have US numbers, so UK numbers will have to do: Partners in the UK firm will receive an average £727,000 share in profits, an increase of 12% on last […]

Groundbreaking Study Discovers Big 4 Partners Tend to Be Hardworking, Male, and White

What makes a Big 4 partner? Chris Carter, Crawford Spence and Claire Dambrin (academics, natch) set out to find that answer, looking specifically at partners in Canada, France and the UK. You will not be surprised by the results. First, they discovered that only about 2-3% of those who start out at Big 4 make […]

Promotion Watch ’14: EY Americas Admits 295 New Partners

Not to be outdone by PwC’s addition of 180 partners the other day, EY has internally announced the admission of 295 new partners, 170 new executive directors and 31 new directors. Dang, son, slow it down over there.

The email that went out to EYers was standard congratulations, we are so excited, exclamation point exclamation point blah blah:

Promotion Watch ’14: PwC Admits 180 New Partners

It must be that time of year, as the smell of fresh partners is in the air! First, BDO announced 24 new partners and now, we've got our hands on the list of all 180 new partners that were admitted today at PwC, effective July 1. You will note PwC is nothing but timely, as […]

Promotion Watch ’14: BDO Admits 24 New Partners

This just in from the BDO camp, 24 new partners have been admitted to the partnership effective July 1st; seventeen in assurance, six in tax and one from the national office. “I want to welcome each of these highly accomplished individuals to the BDO USA partnership,” said Wayne Berson, CEO of BDO USA.  “As a […]

As Luck Would Have It, Big 4 Partners are Pretty Much Just Like You

This kind of goes with the article we shared last week, which quoted one Jacob Soll as saying accounting as a profession has been de-elited and made Midwestern (which is another say of saying pedestrian and not all that special). Side note but you will be happy to know Jacob reached out to us, tried […]

10 People Not Cut Out to Be Partner

The following comes from CPA Trendlines: QUESTION: My partner seems to always be out of sync with me, but my biggest pet peeve is that he never does what he says he will do.  Do you have any suggestions? Respondent Ed Mendlowitz goes on to identify 8 types of people who are not cut out […]

What Is It With Big 4 Hot Shots and Their Politics?

Alright, we need to sage this joint out a little bit. I'm posting the following reader question not to start another monkey dung-throwing match in the comment section but to spark a real discussion about this matter. I have some theories but let's get to the question first: I've been working for one of the […]

PwC Partner Who Built a Career Out of Making Ireland a Tax Haven Could Fix Everything Over Lunch, FYI

Over at Bloomberg, Jesse Drucker has a lengthy profile of PwC Partner Feargal O'Rourke, the head of the firm's tax practice in Ireland. As you know, Ireland figures quite prominently into tax planning strategies for companies like Google, Facebook, Twitter, Microsoft, Apple and untold others who solemnly swear that they're in full compliance with the tax law.  […]

Reminder: Insider Trading Turned Out Badly for Ex-KPMG Partner Scott London

UPDATE: See update below regarding sentencing timing. It's been quite awhile since we've been on the Scott London beat, but something interesting was brought to our attention late last week that's worth sharing. In a court filing from last month, London's attorney Harland Braun laid out the arguments against a Presentence Report by the United States […]

Ex-EY Partner Not Getting His Day in Supreme Court

Robert Coplan, one of three former EY partners who were convicted of selling illegal tax shelters that cost the government $2 billion, has had his case rejected by Supreme Court. Coplan's conviction was upheld last November by the U.S. Court of Appeals in New York and he was hoping to challenge one count in front […]

Promotion Watch ’13: McGladrey Names 35 New Partners/Principals

Yesterday was a big day for the gang at Mickey G's as new partners and principals were annointed: McGladrey Promotes 35 to Partner/Principal – http://t.co/fwD7t6eMZu — McGladrey (@McGladrey) October 1, 2013 The 35 is 11 more than last year's partner class of 24.  And because it's a firm of the little guy/gal, the non-partners got […]

Comp Watch: Public Accounting Partners and Their Buckets of Money

This is per Accounting Today by way of the Rosenberg Survey: Income per equity partner at the nation’s CPA firms jumped 5.5 percent in 2012, climbing to $386,000, according to the recently released 2013 Rosenberg MAP Survey. If you have an extra $450 sitting around gathering dust, you can pick up your own copy of […]

PwC Partner Offers Perfectly Good Explanation for Driving Like a Maniac

The following story out of Europe reads more like an SAT question about two trains approaching a station from different directions at different speeds than a tale of a speeding partner who apparently suffers from one of the most first worldly first world problems in history: Colin Brereton, 53, was clocked speeding at 94mph as […]

Partners Hate Nothing More Than Employees Skipping Training Because They’re Working, Nursing a Hangover

Here's an interesting email that was forwarded to us late last week. It's from a peeved partner and we've removed the particulars since the message strikes us as universal among larger public accounting firms.     From: [Regional Partner In Charge of Assurance]   To: [Whomever it may concern] Cc: [Office] Leadership Team Subject: Respect […]

Ex-Grant Thornton Partner Sorry for Taking $4 Million That Wasn’t His

Craig Haber, who, after being a partner at Grant Thornton for 11 years, started helping himself to client fees, admitted today that what he did was wrong and he's sure sorry about the whole thing:   Craig Haber, who prosecutors said diverted money to his own bank accounts between 2004 and 2012, pleaded guilty to […]

McGladrey and Dave Scudder Can’t Quit Each Other

The man who once led McGladrey as its managing partner, Dave Scudder, is now returning to the firm he once led, McGladrey, as…well, not managing partner. It's a…well, here, read the Mickey G's press release: McGladrey LLP, the nation's leading provider of assurance, tax and consulting services focused on the middle market, recently launched a […]