I'm sure you've been wondering if PwC was going to revive its #BallotBriefcase gimmick for this year's Oscars and sure enough, it's getting passed around like a joint at a Dead show. Here's partner Brian Cullinan (aka Matt Damon) explaining the process: Excited for the #Oscars? @PwC_LLP showed us the #BallotBriefcase, which contains the names […]
Well, this is something. PwC is hiring General Electric’s tax department: Excited to announce that we will be onboarding @generalelectric’s world-class #tax team to the PwC team. Read more: https://t.co/lejO2qFSbe pic.twitter.com/Agw2elGq72 — PwC LLP (@PwC_LLP) January 12, 2017 Yes, PwC is excited about it. Here’s a press release. Here’s a Medium post from Vice Chairman […]
PwC loves millennials. There are countless examples to prove this. Bob Moritz sticks up for them in public. Tim Ryan has them over for Thanksgiving so they can avoid their families. They help them pay off student loans. They respect (but do not condone) stylish holes. They (allegedly!) discriminate against the olds. They do all […]
PwC is settling the lawsuit brought by the bankruptcy trustee of mortgage behemoth Taylor, Bean & Whitaker, putting speculation to rest that a verdict in the $5.5 billion lawsuit for the plaintiff could be the beginning of the end for the firm.
My sole evidence for this claim is a tweet, obviously: Another Earth could be circling the star right next door to us! https://t.co/LAI0ODVsiI#ThursdayThought — Tim Ryan (@Timothy_F_Ryan) August 25, 2016 The New York Times article is worth a read if you're into that sort of thing. I happen to be, and my hunch is that […]
This is from last week, but it's still worthy of a mention since we don't get the deluge of long-winded, self-absorbed farewell emails like we used to. The Daily Mail reports that Oliver Alcock didn't take to life as a professional at PwC too well. He found the work boring and was relieved when he […]
Starting Monday, PwC will go trial in Florida over a financial crisis-era case. The plaintiff is the bankruptcy trustee for Taylor Bean and Whitaker Mortgage Corp, who is seeking $5.5 billion in damages, claiming that "PwC was negligent in not detecting a massive fraud scheme that brought down Taylor Bean and helped trigger the 2009 […]
Here's a doozy. The Pittsburgh Post-Gazette reports that PPG Industries may sell its flat glass business to Mexico-based Vitro, SAB de C.V. This according to "a document obtained by" the paper: A PPG spokesman this afternoon declined to comment on a possible sale, which is mentioned in an undated reference contained in a draft copy […]
June marks the beginning of compensation season and, as usual, we'll start with PwC. Will all the blood, sweat, tears and paper cuts you've endured for the last 12 months be worth it? Will the anticipation of reaching the salary figure you've fixated on for the past year become a reality? Will disappointment follow in […]
Over the last week we've reported a lot on the haps inside PwC. There has been news of partner promotions, a straight talk committee and Tim Ryan's new casual wardrobe. This is all to be expected with the changes in leadership. Bob Moritz is moving up to the global chairmanship and he's taking a lot […]
As we've witnessed, several accounting firms have granted their employees the privilege of wearing jeans to work. And if your firm hasn't jumped on the denim bandwagon by now, you probably feel like your dress code is something straight out of Mad Men. Now banks are taking a hint. On Friday, the Wall Street Journal […]
Yesterday in the roundup, we learned about PwC's new leadership team in the US. It consists of 20 (!) people, led by Tim Ryan who announced the news in a LinkedIn post. The post is obviously scrubbed for an external audience, which is why it's fun that a source dropped us the internal email from […]
Last week, someone posted an Open Item requesting opinions about PwC's new dress code. Then yesterday a tipster dropped us a note about it and provided some visual evidence. It confirms the text posted from last week and gives us some further context: I love that someone at PwC insisted on italic type for stylish. […]
Independence: its complicated. Except it isn’t, really. Audits firms are conflicted because they’re paid by the organizations who they’re supposed to be independent of audit clients. Most people, I think, know this yet choose to ignore it. Fine.
Bloomberg reported yesterday that one of the ex-PwC employees responsible for LuxLeaks "was actually looking for training documents when he stumbled upon the files." That sounds less like a “quirk” and more like some idiot naming a folder: “HOW TO: MASSIVE INTERNATIONAL TAX AVOIDANCE.”
Hey gang, remember a couple years ago when PwC acquired Booz & Company? Remember how we all hoped the new firm would be named something fun like Boozerhouse or BoozeCoop or Company? Remember how they went with Strategy& and no one got it and it harkened everyone back to Monday and we all had a […]
Ed. note: Warning, there's some offensive language contained in this post.
Today in potential career limiting moves, we have a prospective PwC intern being accused of creating a bunch of “sock puppet” Twitter accounts to hurl bigoted tweets at high school football recruits.
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 […]
You may have heard that it's a presidential election year. And perhaps you've heard that one of the candidates is a carnival barker that spray tans with Krylon Pumpkin Orange. And maybe you've even heard that said carnival barker has not released his tax returns for public consumption despite decades of precedent. It's all good […]
In case you hadn't heard, the nominees for this year's Academy Awards in the acting categories are even less diverse than the accounting profession. That's quite an accomplishment! I'll bet the Academy members wish they could blame PwC for this, but alas, the firm has been tabulating the ballots far too long; throwing them under […]
Ugh, this is awful: Any killing would likely have rattled the residents of Scarsdale, which hadn’t seen a homicide in nearly four decades. But the death of New York City pediatrician Robin Goldman was especially shocking for this Westchester County community because of the suspect: her husband, accounting firm partner Julius “Jules” Reich. “People say […]
These days, you hear more and more about people juggling multiple projects at once. You know, a day job, the moonlighting gig, a passion project, the "I was just fucking around and it became a thing"1 thing, among others. You would think that accounting firms, known for working people so hard that it renders them […]
So here's a thing that is happening tomorrow: Use #AuditorProud & #PwC on Thursday to share your pride in the #accounting profession! pic.twitter.com/kp6M4TwozG — Bob Moritz (@Bob_Moritz) December 8, 2015 This whole thing is being spearheaded by the Center for Audit Quality who put out a fact sheet for anyone who's not familiar with how […]
How big? According to PwC's legal services leader in Australia and Asia, a top 20 in the world will do: Tony O’Malley, Australia and Asia Pacific legal services leader, told AccountantsDaily the firm has clear global aspirations to establish itself as a top 20 international law firm. The firm’s legal growth strategy, implemented over the […]
Auditing is a big deal in the accounting world, especially at Big 4 firms. While consulting and advisory services threaten to eclipse assurance as their chief revenue source, the fact remains that auditing remains the primary revenue stream for three of the Big 4 firms and serves as the foundation for all their reputations. But […]
PwC chairman and senior partner Bob Moritz spoke at the Detroit Economic Club yesterday and his message was simple: stop hating on Millennials. Sure, some of them might appear to be shiftless narcissists wielding selfie sticks while texting and driving, but maybe it's because you've been judging them from a distance: “If you engage your […]
Well, we better talk about this PwC loan assistance thing, hadn't we? For starters, it's a pretty unique perk. The Washington Post reports that only 3% of companies offer loan repayment, citing a survey from the Society for Human Resource Management. It's typically used to attract a particular type of employee such as teachers or […]
There's nothing else to really say here other than the guy in the black fleece seems to be enjoying this a little too much while his pal looks unsure about the whole thing. This video is from March but hopefully the guy with the magic noogies is still around. He could do wonders for anyone […]
28 teams down to the final 2. #PwC Championship #Basketball game is tomorrow at Madison Square Garden! @TheGarden — Tim Ryan (@Timothy_F_Ryan) September 1, 2015 UPDATE : The victors look decent enough to take on the Knicks. Congrats to the #PwC Assurance team – the official PwC basketball champs! @TheGarden pic.twitter.com/vPf48zSlWA — PwC LLP (@PwC_LLP) September […]
Promontory Financial, after threatening to sue New York's Department of Financial Services, agreed to settle with the regulator over its actions in representing Standard Chartered Bank today. The firm will pay a $15 million fine and forgo consulting gigs with New York banks for six months. Contrast that with the deals PwC and Deloitte got: […]
As we all know, Millennials mystify their older, non-Millennial co-workers. Their common refrain of questions range from, "Why are Millennials entitled?" to "Why do Millennials need constant feedback?" to "Why do Millennials want to work at a Parisian coffee shop 3 days a week?" to "What's with all the sexting?" Despite the confusion, employers still […]
Recently, the Department of Justice narced out PwC to the AICPA’s Professional Ethics Division for acts discreditable to the profession.1 The DOJ claims that PwC did not follow the standards and provisions required for federal audits during its 2011 audit of Big Brothers Big Sisters of America (BBBSA), and not following audit standards constitutes an […]
The PCAOB, bless their hearts, released a forgettable inspection report from PwC today. The deficiency rate, 29%, is still in the range we're used to, but was lower than last year, so that's something. Michael Rapoport reports that this deficiency rate is better than EY's (36%) but not as good as Deloitte's (21%) and that […]
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 […]
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 […]
A tipster wrote us earlier today: FYI, the wage settlement checks arrived. […] All of these years of waiting has led to me being paid pennies on the dollar… Yet again PwC finds a way to stick it to me. And we've seen the check! We agreed to not publish it to protect our tipster's […]
Oh, look, it's mid-June. Busy season is over and compensation season is here. Yes, it's time to find out which of you have been justly rewarded for your efforts and which of you are feeling like an untipped bathroom attendant. PwC is always the pacesetter in comp discussion season and we appreciate their consistency, as […]
If you need a good laugh today, I invite you to read this post from WND about how the Clinton Foundation's financial troubles could bring down PwC. It's a hoot. A respected Wall Street analyst who has been investigating the Clinton Foundation’s finances alleges the “Big Four” accounting firm PricewaterhouseCoopers was a willing participant in […]
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 […]
Looking forward to engaging with my #PwC colleagues in Philly today at our Town Hall meeting at 2 pm EDT! #pwcphilly — Bob Moritz (@Bob_Moritz) May 14, 2015 Also, there seems to be a welcome committee of sorts: Excited to be with the great people of @PhilaPwC for our national "town hall" with @Bob_Moritz #pwcphilly […]
Jump for joy, it's time for the Vault Accounting 50, people.
If you're not up-to-date on your accounting profession rankings, this is the one that curates feedback from accounting professionals on accounting firms in a variety of areas including prestige, culture, empty work/life balance initiatives, tchotchkes, CEO sex appeal, etc. They have a full breakdown of the Vault Accounting 50 secret sauce if you're into that sort of thing.
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Dennis Nally, Chairman of PricewaterhouseCoopers International Limited. The parties looked at the issues of rendering information and consultancy services to Gazprom in various sectors of business development. Special consideration was given to applying advanced IT solutions to improve […]
An addendum to the Bloomberg article on the Satyam executives' sentencing we linked to earlier: the former PwC partners involved, S. Gopalakrishnan and Srinivas Talluri, were in the group of ten that were found guilty and sentenced to 7 years in prison as well. PwC is a little sad about this outcome: "As we have said many […]
Last October we learned that a PwC fired an employee named Canal O'Rourke for violating the firm's "ethics standards." This violation came about after O'Rourke became understandably agitated over his Comcast bill and the company's failure to rectify the situation. BEEN THERE. At some point, Mr. O'Rourke reached Comcast's Chief Accounting Officer, Larry Salva. O'Rourke started […]
All that work Dave Camp put into his tax reform plan did not go unnoticed. Oh sure, human carrot John Boehner didn't get too excited about it, but PwC was impressed enough that they hired Camp as a senior policy advisor in their Washington National Tax Services practice. Here are Bob Moritz and Mark Mendola saying […]
Another day, another study, and this time it's yet again one of accounting firms' favorite target: the misunderstood Millennial. And female ones at that, oh boy! I bet this research is going to be compelling and fascinating and show us so much we don't already know about this misunderstood yet massive chunk of the workforce. […]
We love a good Florida Man story around here. And today, that man just happens to work at PwC. Exciting! David Clarke became a principal at the firm when PwC acquired his digital consultancy BGT in 2013. So, obviously, he didn't come up in the firm because if there's one thing these firms drill into you, […]
If you guessed, "A kid doctor needed help with his taxes," you would be wrong. No turning back: Dropped off my official #Oscars predictions to the two people in charge of the ballots at @pwc_llp. pic.twitter.com/WXawVsDcbu — Neil Patrick Harris (@ActuallyNPH) February 19, 2015
We’ve been following Campbell v. PricewaterhouseCoopers for a long time so it’s kinda sad to see it come to a whimpering end.
Caterpillar, maker of enormous sandbox toys, has received some unfun news. After poking around some old tax returns, the IRS has proposed that the company pay tax increases and penalties of $1 billion. They plan to "vigorously contest" the findings in the appeals process. This all began with some international transactions, designed by PwC, that got […]
Did you know? Harold Brewster was 1st #PwC balloting leader 1935-41 (seated, left) http://t.co/vXVGPTRFPk #Oscars pic.twitter.com/IH3bmd8A52 — PwC Industry/Geo PR (@PwCIndustryPR) February 12, 2015
Whelp, better get the trophies, as this is without a doubt the worst anecdote ever: Heat-tested in Texas. Here’s a great story about the importance of being agile and learning all you can from the opportunities you’re presented with. Early in her career, one of my partners at PwC was assigned to our Houston office. […]
At least she did not miss out on the iconic 1992 film Encino Man.
With the holidays fast approaching, what better way to celebrate the season than with a humblebragging press release about how you will be doing the right thing and giving your people a little much-needed time off: PwC is shutting down the firm between Christmas and the new year. Our gift of guilt-free downtime is more […]
Has anyone seen that picture of Bill Gates going around Facebook that says he'll give a bunch of money to every dipshit who shares it? Yeah, it's fake. It's actually based on a piece of paper he held up for his Reddit AMA and of course the Internet jumped all over that and Photoshopped different […]
As I said on Facebook, pics or it didn't happen, bro. While we're waiting for photo evidence that Olinto was, in fact, in attendance at PwC's holiday party, let's take this opportunity to remind everyone that we'd love to hear how your holiday events are going. Did your firm go all out or did they […]
Like Yelp, reviews on Glassdoor can be either highly informative or terribly useless. No matter what is said, it’s usually in the best interest of TPTB to ignore the negative reviews and move on, knowing in their hearts that you can’t please all the people all the time.
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 […]
Remember, kids, to check your independence at the door: Logitech International (LOGI) (SIX: LOGN) (Nasdaq: LOGI) today announced a delay in the filing of its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2014. As previously disclosed, Logitechs Audit Committee, with the assistance of independent advisors, conducted an independent investigation of certain […]
Share it with the kids! Is it me or does the accountant bear a striking resemblance to Bob Moritz? I'm sure it's just a coincidence. [YouTube, Earlier]
There's nothing quite like an enormous international corporate tax scheme, am I right? Sure, there are no shoot-outs or car chases, but that's the beauty of it — it's a heist that's not technically a heist and the villains aren't sociopaths, they're just bureaucrats and accountants with families and paychecks just doing their day […]
Today at Dell World, Dell and Deloitte announced a set of solutions focused on solving two specific technology challenges: helping companies better manage, scale and secure their IT infrastructure to enable effective customer experiences, and delivering improved patient outcomes in healthcare through better use of transformational technology and automation. The two industry leaders intend to […]
Rejoice, PwCers, you all are joining the late 20th century!
For five years, Mitan Sachdev worked in risk assurance for PwC across the pond, conducting control assessments and other such excitement. Like most of you, he dreamed of a better life, so one day he just up and quit. What was his plan for LAP (Life After PwC)? Industry? Government? Nope. Falafel. Bloomberg has the […]
Conal O'Rourke will not go quietly into that dark night without a fight, folks, he just wants you to know that. In case Comcast wasn't aware of that fact, he has filed a lawsuit. Gawker has the story: Conal O'Rourke is going after Comcast and its controller, Lawrence Salva, for defamation, and arguing the company […]
Back in BoMo’s day, you didn’t ask questions.
Here's the latest from the Comcast/PwC dogpile on Conal O'Rourke — Charlie Herrin, Senior Vice President, Customer Experience at Comcast wrote a brief blog post today apologizing to him: What happened with Mr. O’Rourke's service is completely unacceptable. Despite our attempts to address Mr. O’Rourke’s issues, we simply dropped the ball and did not make […]
Well, this video has one thing going for it, in that it isn't nearly as awkward as Deloitte's cringeworthy Homo Deloittus. Note we said "nearly." The soft voices remind me of the soon-to-be-abandoned young girls of MTV's 16 and Pregnant, who speak softly for fear they might scare away their irresponsible baby daddies (who are […]
A good majority of you do your time in public accounting, leave quietly, and go on with your lives. But a few of you cling to screenshots of your past life, so you never forget just how awful those long, tedious days were. In the case of the following evidence of managerial douchebaggery, it appears […]
In typical accounting firm fashion, PwC chairman Dennis Nally is finally getting around to doing the ice bucket challenge now that almost everyone has forgotten about the ice bucket challenge. He's a busy guy so it's understandable if he's had better things to do over the last several weeks. What's with the awkward hand-wringing? This […]
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 […]
Note to the uninitiated: don't think you're going to get away with what this lady gets away with, that just isn't how the world works. In Great Expectations: Millennials, Motherhood and Money on U.S. News, we meet Kristin Selvaggio, a senior associate at PwC with an interesting side business that doesn't involve doing tax returns […]
Last we checked in on the ongoing MF Global v PwC drama that is currently working its way through the U.S. District Court, Southern District New York, Judge Marrero took a long piss all over PwC's in pari delicto excuse. In his decision today, Judge Marrero held: “It is plausible to conclude that PwC’s accounting […]
Yesterday, we saw quite a bit of coverage on New York's Department of Financial Services throwing the book — albeit a comic book — at PwC for writing a mealy-mouthed report on Bank of Tokyo-Mitsubishi's violation of anti-money laundering laws. The firm's regulatory advisory unit will cough up $25 million and will forgo any new […]
A Fortune feature just declared what we already know: The work-life balance movement for men is coming.
Note this happened over the pond. Things might be different over here, but probably not.
For those of you who don't know, hoteling is a fancy word for working like some kind of homeless drifter. In other words, you function unfettered by the pesky material chains of deskhood and experience the freedom of rotating workspace in neat 24 hour increments. And PwC's San Jose office is leading the trend. Here's […]
The article we're talking about today is entitled "PwC report predicts death of nine-to-five" but that's not exactly what PwC predicted: The traditional nine-to-five office environment could soon become a thing of the past according to a new report by PwC: ‘The future of work: A journey to 2022’. The research reveals that only 14% […]
A special program developed by employees at the accounting firm PricewaterhouseCoopers LLP and the nonprofit Diversity Awareness Partnership is teaching youngsters that careers in finance are not strictly for geeks whose work attire consists of starched white shirts and pocket protectors loaded with No. 2 pencils. The EXPLORE Career Immersion program in accounting began two […]
They say those who cannot remember the past are condemned to repeat it. For accounting firms, it's more like condemned only if the regulators catch on. As we all know, the trend toward combining audit, tax, and consulting services was totes kosher up until the E-word happened, when consultauditors went scattering like cockroaches in the […]
Well, if that won't light the rumor mill on fire, I don't know what will. Let's see the press release: NQ Mobile (NYSE: NQ), a leading global provider of mobile Internet services, today announced that it has engaged Marcum Bernstein Pinchuk LLP (MBP) as its independent Registered Public Accountant. The Company's Audit Committee has dismissed […]
PwC was recently dealt a blow when U.S. District Judge Victor Marrero stated: “[u]nder PwC’s reasoning, the in pari delicto doctrine would insulate an auditor from liability whenever a company pursues a failed investment strategy after receiving wrongful advice from an accountant. Such a broad reading of the doctrine would effectively put an end to […]
The part you need to know about District Judge Marrero's decision in MF Global v PwC yesterday: Judge Victor Marrero held: “[u]nder PwC’s reasoning, the in pari delicto doctrine would insulate an auditor from liability whenever a company pursues a failed investment strategy after receiving wrongful advice from an accountant. Such a broad reading of […]
Let this case serve as a lesson to all partners in charge: if you don't do good audits, you will be bankrupted and sent to prison for criminally negligent auditing. Oh wait, no you won't. Carry on: The Public Company Accounting Oversight Board today announced a settled disciplinary order against Randall A. Stone, CPA, of […]
Rejoice, people, PCAOB Inspection Report season continues! From PwC's fresh off the presses 2013 inspection report: The 2013 inspection of the Firm included reviews of portions of 57 audits performed by the Firm and reviews of the Firm's audit work on two other issuer audit engagements in which the Firm played a role but was […]
As the multibillion-dollar scheme led by Tom Petters approaches its sixth anniversary, the meter is still running for the lawyers and accountants sorting through the corporate empire created by the former Wayzata businessman, and the array of creditors and investors who did business with him. More than $83 million has been paid to the lawyers […]
Perhaps it is not a coincidence that the bro who abandoned his Deloitte bros for KPMG and the following bro from PwC both work in the Washington Metro; sports-themed farewells may officially be a thing now. Whether or not it's a trend, it sure beats past farewell emails we've seen that go on for days […]
PwC has the cattle prod out to encourage ambitious assurance staff associates with some experience to skip the three year path to senior and take advantage of mid-year promotions. Let's check out the email that went around: While we continue to anticipate staff who are progressing as expected will be on a 3 year course […]
ICYMI, PwC US Chairman Bob Moritz was in Washington today talking about flexibility and diversity and the importance of trustworthy fonts in autumnal color schemes at the White House Summit on Working Families (I made that last one up, obvs). On his panel, this happened: Bob Moritz, chairman of PriceWaterhouseCoopers: when we switched to unlimited […]
Over the last 24 hours, we have been bombarded with tips that PwC comp discussions are happening. Historically, PwC has been first to kick off comp talks and it appears that's the case this year as we've yet to hear about any discussions at other firms. Let's head to the tip box and see what […]
Chances are you've already seen this photo floating around, perhaps your aunt shared it on Facebook and all her friends piled on with varying opinions from "that's immoral" to "well if I pay that much to live in a nice building, I expect there not to be urine-stained vagrants sleeping in the entryway." OUTRAGE! I […]
The Project 28-40 report is a study of 25,000 people (23,000 of those women) by Opportunity Now and PwC that looks at the obstacles facing professional women in the UK. The report itself is nothing groundbreaking, however it is courtesy of said report that we are given this gem: A perceptions gap between women and […]
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 […]