December 10, 2018

Partners

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 […]

reverse mentoring public accounting

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 […]

millennials accounting firms

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 […]

BDO new partners

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 […]

BDO new partners

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 […]

Here’s a List of Grant Thornton’s Newest Partners

Stephen Chipman has bestowed 30 purple roses, saying, "Our partners and principals have demonstrated great value to our dynamic clients and to our firm through their technical expertise and passionate leadership." There's also 20 new managing director,s however they merely, "[help] our partners execute the firm's strategy." Sounds like a slap in the face. I […]

Hey Look, BDO Had Another Decent Year

If Bravo Delta Oscar's announcement of its 2013 fiscal year revenues are any indication, we're going to see big revenue numbers from accounting firms this year: BDO USA, LLP, one of the nation's leading professional service organizations, today announced revenue for the fiscal year ended June 30, 2013 was $683 million, a 10.5 percent increase […]

Grant Thornton Audit Partners Might Want to Read Those Opinions Just a Bit Closer

Call this is a GT service announcement (or something). A tipster informed us a little while ago that there were a couple of Purple Rose of Chicago audit opinions floating around that have an unfortunate typo. Titan International and Gentherm, Inc. filed 10-Ks in 2013 with Grant Thornton's name spelled wrong on the opinion – spelling it […]

Promotion Watch ’13: BDO Admits 16 New Partners

For one reason or another, Bravo Delta Oscar announced their new partnership class late on Wednesday, so virtually everyone missed that news. Now that everyone has returned from their epic four day BBQ-beer-blowing off digits bender, we will present to you the 16 new BDO partners: Brandy Arbuthnot (Dallas – Tax) Matthew Cromwell (Bethesda – […]

AICPA Asks EEOC to, Respectfully, BTFO of Big 4’s Mandatory Retirement Policies

Although the Wall Street Journal Editorial Page made it abundantly clear that the Equal Employment Opportunity Commission was way off, giving PwC and other large accounting firms a hard time for their mandatory retirement age policies, the AICPA thought it would be prudent to make its thoughts on the matter known:  In a letter to members […]

Those Twelve ParenteBeard Partners That Quit to Join BDO Took Some of Their Friends Along

This is quite the impressive move by Bravo Delta Oscar. The firm issued this press release earlier today: BDO USA, LLP, one of the nation’s leading professional service organizations, today announced an expansion of its financial institutions practice through the addition of 12 partners and as many as 97 employees formerly with the banking practice […]

Ernst & Young Hired Some People

We like to call attention the competitive poaching that goes on behalf of accounting firms because they do such a good job of bombarding the world with that knowledge. It probably got started when we noticed that PwC was using KPMG as its farm teambut more so lately, we've noticed that Ernst & Young aggressively shouting about all the BSDs that are joining the Black and Yellow. 

What’s in a (Big 4 Partner’s) Name? Maybe a Lot

On Friday, Francine McKenna provided a perfect example of what investors could learn about the audit partners for public companies should the PCAOB start requiring the naming of names.  Francine, through her sources, was able to confirm that Linda McGowan was the partner for MF Global — something widely known amongst regulators, and lawyers involved […]

A Dozen ParenteBeard Partners Have Up and Quit; Probably Joining BDO

Joe DiStefano has nice scoop over at PhillyDeals about twelve ParenteBeard partners packing it in — sounds like it was unexpected — and taking their services over to Bravo Delta Oscar: According to industry sources, Richard T. Farrell from the firm's Philadelphia office, Alan Molin from its Clark, New Jersey office, and other audit partners […]

Note: Condescending Negotiation Tactics Are Not Well Received By PwC

Never one to shy away from an opportunity to condemn the actions of any government agency, the Wall Street Journal Opinion Page came to a rousing defense of PwC, who is taking a bit of heat from the Equal Employment Opportunity Commission over their mandatory retirement age. The story starts in May 2010, when the […]

(UPDATE) Promotion Watch ’13: New PwC Partners

~ UPDATE: Full list of new partners included on third page.   Partner promotion season is hitting its stride, people. After learning of Ernst & Young’s new class in the Americas last week, we’re happy to report that PwC’s class was announced internally on Friday, with public announcements being left up to the local offices. […]

Promotion Watch ’13: Here’s the Ernst & Young Americas Partner Class for 2013

Welcome back, capital market servants. Hopefully you achieved some combination of suntan/burn, hangover, and meat sweats this past weekend.    Speaking of achievement! Last week while we were all distracted by Memorial Weekend daydreams, Ernst & Young announced their 2013 Partner, Principal, Executive Director, and Director (aka "PPEDD") class for the Americas (this includes North […]

Blind Item: Which Firm Is So Committed to Work-Life Balance It Brought a Partner to Tears?

Taking a break from KPMGate/LondonFalling for sec — here's a blind item for your Thursday afternoon that came to us via text message: [Major accounting firm] Tax Partner starts crying when anouncing firm's commitment to work-life balance b/c she convinced sr. to stay There are lots of things that can happen at work that could […]

PwC Has Rally Caps on After PCAOB’s Expanded Reports

Yesterday afternoon, right about the time I couldn't read another word about PwC's love of CAKE, this tip came through at approximately 7 pm ET: Tim Ryan just finished up an "emergency" call with all partners and managers about this. Call began at 5:30 EST.  Mr. Ryan, as we noted this morning, was quoted in Floyd […]

An Ex-Grant Thornton Partner Has Been Charged with Embezzling $4 Million

Here's an interesting story about a fella by the name of Craig Haber. Craig became a partner at Grant Thornton in 1993. Around 2004, Craig decided to start helping himself to client fees that rightfully belonged to GT. This went on for a while. Approximately $4 million in fees from 2004 to 2012, to be […]

Sixteen McGladrey Partners Get to Update Their LinkedIn Profiles with Fancy New Titles

These are your new McGladrey National Industry Leaders:  Alternative Energy – Dustin Petersen (Des Moines, IA) Business and Professional Services – Barry Rosenthal (Chicago) Consumer Products – Carol Lapidus (New York) Federal Government – Mark Waterman (Vienna, VA) Financial Institutions – Jeff Baker (Des Moines, IA) Financial Services – John Hague (Chicago) Gaming – Keith Stoneburner […]

Grant Thornton Partner Asked to Take a Seat

GT partners have elected Dave Wedding as the next Chairman of the firm's board. He was also recently appointed OMP of the Purple Rose of Chicago: Carolinas practice. As a native of Charlotte, part of his appeal, undoubtedly, was his charming North Carolina accent.* This should match Stephen Chipman's charming English accent quite nicely. Leadership […]

Things Looking Up for Two Ex-Ernst & Young Tax Evasion Specialists; Two Others, Not So Much

For former Ernst & Young lawyers Richard Shapiro and Martin Nissenbaum, things couldn't get much better than a panel of judges overturning the convictions for your roles in selling illegal tax shelters. Their pals Robert Coplan and Brian Vaughn weren't so lucky, however: A three-judge panel of the U.S. Court of Appeals in New York ruled […]

PwC Decides It Likes This Dennis Nally Fella

PwC International chairman Dennis Nally will remain in that position for another three years since he's done such a bang-up job for the past three. At least that's what the Oscar™ partner says: In announcing Mr Nally's reappointment, Brad Oltmanns, the Governance Board Chairman of PricewaterhouseCoopers International, said: "Dennis Nally has done a tremendous job […]

PwC Is Missing a Huge Opportunity to Market Its IRS Resolution Services

Tax Masters. JK Harris. The Tax Lady. Their late-night commercials have all, at one time or another, pierced through the blood-shot eyes of insomniacs across the nation, ensuring that the sleepless masses are treated fairly and with respect during their IRS resolution. Unfortunately, they have all been killed off in some fashion or another. But […]

Layoffs Watch ’12: Mazars

The firm regrets to inform five percent of their employees, including "a limited number of partners," that they will soon have a lot of free time on their hands: Mazars could make up to 5% of its workforce redundant, as it begins a consultation process across the firm. Accountancy Age has learned staff were informed this week […]

Compensation Watch ’12: Public Accounting Partners

The AICPA asked around and it turns out that most CPA firms across the country have a seen an increase in fees in the last couple years. That's good! Consequently, partners are doing a little better than they were just two years ago. That's good! So good, in fact, that everyone at the adult table […]

Promotion Watch ’12: McGladrey Announces Partner/Principal Class

Twenty-four lucky lads (18) and ladies (6) got seats at the big table as partners or principals on October 1. Joe Adams is busting: “Each of our new partners and principals demonstrates McGladrey’s values of respect, integrity, teamwork, excellence and stewardship in their interactions with our clients and with one another,” said Joe Adams, managing […]

How To Make Partner In Five Easy Steps (or Don’t Give Up Now, Many Partners Are Going To Die Soon)

At the end of last month the CPA Consultants' Alliance released a white paper on succession planning and leadership. Okay, it was mostly about leadership; succession planning was thrown in there to scare old people into reading it. Succession planning has gotten boring. It's been everywhere in the accounting press for years. A boomer can't […]

Promotion Watch ’12: Moss Adams Is the Least Bad at Admitting Women as Partners

After naming a new Boss of Moss one week ago today, we just learned that thirteen new mini-Mosses will be admitted to the partnership effective October 1. I'll dispense with the platitude quotes and get right to the names: Tracy Paglia, Stockton, CA  Jessica Cluzeau, Los Angeles, CA  Francis Tam, Los Angeles, CAMark Woodward, Los […]

Today’s Groupon: A Chief Accounting Officer Courtesy of KPMG

Chronically accounting challenged coupon* carrier, Groupon, has found a new Chief Accounting Officer and they've followed the methodology most notably employed by PwC – poaching a KPMG partner: Groupon Inc said on Monday it appointed Brian Stevens chief accounting officer as the online daily deal company grapples with a string of accounting controversies. Stevens will step […]

Reminder to PwC Partners: The Firm Won’t Be Considering Your Deadbeat Relatives for a Job

As fall approaches, Big 4 recruiting for next year's crop of capital market servants will shift into high gear. This means lots of handshakes at catered events where students will make small talk, laugh awkwardly, and feign listening in order to land that all-important first job. There's a lot of preparation involved for these students […]

Promotion Watch ’12: Deloitte Partners and Principals

Yes, 162 lucky boys and girls have earned their partner badges, according to an email that a tipster sent us. It's a crowning achievement after many long nights, arguments with spouse, and New Year's resolutions to shed the weight gained last busy season. Memo to ambitious youngsters: this is what it takes. Here are some […]

This Story of a Deloitte Partner’s Suicide is Really Tragic

Deloitte partner Daniel Pirron's suicide is terrible. Anyone that has had to cope with a loved one taking his or her own life knows the helpless feeling you have in the aftermath of such a tragedy. If someone at your company committs suicide, the emotional level is obviously different but it is no less shocking regardless […]

Promotion Watch ’12: Crowe Horwath

Nine new partners and seven new directors have seats at the adult able, according to a firm press release. Here's your new partner class: Stephen Bedell, Tax (Columbus, Ohio) Rebecca Hurt, Tax (Knoxville, Tenn.) John Kelleher, Tax (Oak Brook, Ill.) Bart Kimmel, Risk Consulting (Los Angeles, Calif.) Troy La Huis, Risk Consulting (Grand Rapids, Mich.) […]

How to Manage Up and Keep Your Bosses Happy (Well, Most of Them)

Don't wanna work? Just wanna to bang on a drum all day? Okay, but the noise may result in you being escorted out by security. Best to ask us about something that's been bugging you. Shoot us an email and we'll keep you out of trouble. Hi, this isn't a tip but can you do […]

Former Deloitte Partner Thomas Flanagan Pleads Guilty to Insider Trading

You know, if ol' Tom ends up doing some hard time, I know of someone who might be able to recommend a rigorous exercise regimen that will keep him busy while he's inside: Federal prosecutors recommended a prison term of at least 37 months for Thomas Flanagan, 64. Flanagan was a partner for more than […]

What’s the Key to Making Partner at a Public Accounting Firm?

For some capital market servants the number one goal in their careers, the crown jewel, the ultimate feather in the cap, the most memorable notch on the bedpost, is being admitted to the partnership of his/her public accounting firm. It's an accomplishment that takes commitment, perseverance, hard work, dumb luck, brown nosing, corporate politicking, very […]

Did an Ernst & Young Partner Get Demoted for His Anti-Facial Hair Stance?

In the past week, we have received several tips about an Ernst & Young OMP who was recently demoted to a less-BSD position. While that's the reality, we're certain that any internal messaging took quite a different tone with the partner in question ("PIQ") "transitioning to a client facing role" or some other euphemism for […]