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Friday Footnotes: EY Partners Are Split on the Split; PCAOB Further Annoys Auditors; Recruiting Events Are Back! | 3.31.23

Going Concern

Big 4 EY Fails to Reach Deal on Split [ Wall Street Journal ] The unexpected revolt that has upended the planned breakup of accounting firm Ernst & Young is being driven by two longtime U.S. auditors who believe their part of the firm could end up weakened by a deal. People did not enjoy that.

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Our Obsession with Hours Is Destroying the Accounting Profession

CPA Practice

A talent shortage is affecting accounting firms across the demographic spectrum. Each year fewer accountants enter the profession while more CPAs near retirement. According to the Association of International Certified Professional Accountants, the number of U.S.

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Friday Footnotes: Firms Get a Jump on Hiring; RTO Firms Outsourcing ?; BDO Settles 401(k) Suit | 12.22.23

Going Concern

Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. million) in damages from accounting firm EY for its role in auditing the books of Wirecard before its collapse in 2020, a shareholder group said. Don’t hesitate to reach out.

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Friday Footnotes: PwC’s Head of Reputation Quits; KPMG’s New Commercial; EY Split Still on the Menu | 6.9.23

Going Concern

PwC’s tax scandal victims pile up [ Australian Financial Review ] It was Wednesday evening when the full cost of PwC Australia’s position began to dawn on the firm’s senior employees – the kernel of true believers on the brink of realising their life ambition to become partners at Australia’s biggest accounting firm.

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ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

Accountants who can best work with ChatGPT will thrive, those who don’t will ultimately be out of a job. It isn’t just another game, it’s a different sport. It will also allow them to go after smaller clients and those with simple business models currently being audited or tax advised by small and medium-sized firms.

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Friday Footnotes: Consulting Gets Bumpy for New Hires; Cities Sans Accountants; PCAOB Priorities | 4.21.23

Going Concern

. “silent layoffs”) are on the menu B4 Layoffs – USA by u/additional_cats in Big4 KPMG is diversifying its partner rank through sponsorships and succession planning [ Fortune ] Partners are among the most senior-level roles at accounting firms and some of the highest paid. KPMG faces $1.4-billion

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

Audit Comments Raise Concerns About PCAOB’s Proposal To Expand the Scope of Audits and the Role of Auditors [ JD Supra ] In June 2023, the Public Company Accounting Oversight Board (PCAOB) proposed sweeping amendments to its auditing standards. Nelson & Nelson CPAs is the oldest existing accounting firm established in South Dakota.

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