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Friday Footnotes: RTO Isn’t Going So Great; KPMG Wins Something; What Auditors? | 5.19.23

Going Concern

GC ] Benjamin Wann, CMA, CSCA, MBA, PMP, CPA wrote a little something about the thing we all love to hate. While KPMG gained more clients than it lost, Ernst and Young LLP was the only member of the Big Four accounting firms to post positive net new audit fee gains for all of 2022, according to Audit Analytics. or Singapore.

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PwC: Next Auditing Giant To Overhaul Business

PYMNTS

auditing giant to overhaul operations amid growing regulatory scrutiny on the industry. PwC is reportedly planning to ramp up its auditing operations by hiring 500 more auditors across the U.K., The company will also deploy a digital audit team, strengthen training operations and review existing clients. ”

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UK Moves To Split Audit And Consulting Profits At Big Four

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The Big Four accounting firms will have to put their United Kingdom auditing and consulting practices in separate business units by 2024, but may keep them within the same parent companies, under regulations announced today by the Financial Reporting Council. The measures by the U.K.’s

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Armanino’s Former Crypto Team Has Left and Formed Their Own Shop, Allegedly

Going Concern

As a reminder, here’s what happened in December : Armanino is ending its crypto audit practice and dropping clients, two sources familiar with the matter say. after performing the exchange’s audit last year. Armanino has said it stands by its 2020 and 2021 audits of FTX US. affiliate of Sam Bankman-Fried’s FTX exchange.

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UK Auditing Market Pressure Grows With Parliamentary Probe

PYMNTS

Parliament will commence an inquiry into the nation’s corporate auditing market, which is currently dominated by the Big Four accounting firms Deloitte, PwC, EY and KPMG, adding new pressure on an industry already being probed by other policymakers. Reports in Reuters on Sunday (November 11) said the U.K.

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Letters to the Editor: CPAs Give Their Perspectives on Why No One Wants to Be an Accountant Anymore

Going Concern

Hi, I am a CPA & CMA- I find that being an older student ( accounting at 32 bc SEC audit of company left me without real estate leasing job) I have struggled to find a good fit. Starting I couldn’t take the kind of paycut to be a entry level field auditor or tax. Accounting is miserable.

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No Breakup For UK’s Big Four Accountancy Firms

PYMNTS

.’s Big Four accountancy firms — KPMG , PwC , EY and Deloitte — have escaped a forced breakup from the Competition and Markets Authority (CMA), The Guardia n reported on Tuesday (Dec. The CMA said the proposal would spur competition in the market, and allow smaller auditing and accounting companies to obtain greater market share.