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When accounting goes unaccounted for
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138 Posts
Guy Compares the IRS to Barnes & Noble

“The IRS destroying data for an estimated 30 million filers in March 2021 is appalling. This will create massive chaos for taxpayers in terms of filing time and refunds. The fact that the IRS is a business that operates in the dark ages in terms of technology further compounds the taxpayer’s burden. They act like […]

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Guy Compares the IRS to Barnes & Noble
RIP Norah Bruther, EY Senior Associate Who Was Killed By Alleged Drunk Driver

Funeral services were held this past weekend for 23-year-old Norah Bruther, an EY assurance senior associate from New Jersey who was struck and killed by a vehicle on May 7 while on vacation in Arizona. NJ.com reported: Norah Bruther was hit by a car around 1:30 a.m. Saturday while trying to cross Camelback Road near […]

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RIP Norah Bruther, EY Senior Associate Who Was Killed By Alleged Drunk Driver
Former Deloitte CEO Is a Big Fan of ‘Smors’

No, Cathy Engelbert isn’t talking about the delicious summertime treat. She’s talking about “small moments of recovery.” “I learned this at Deloitte because when you’re running a firm of that size, you have to find time. We dubbed them smors. My EA used to put them on my calendar: Small moments of recovery. You need moments during […]

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Former Deloitte CEO Is a Big Fan of ‘Smors’
Friday Footnotes: KPMG’s Idea of a Fun Summer; IRS Eats Their Homework; Downsized GT Downsizes | 5.13.22

Junior KPMG auditor ‘should not lose his home’ for misleading regulator, says tribunal [Financial Times] A former junior KPMG auditor should not receive a fine so large it could force him to sell his matrimonial home, a tribunal has said. The UK accounting regulator asked the industry tribunal to fine Pratik Paw £50,000 and ban […]

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Friday Footnotes: KPMG’s Idea of a Fun Summer; IRS Eats Their Homework; Downsized GT Downsizes | 5.13.22
If the AICPA Offers You a Career In Accounting, Just Say No

With the AICPA making filling the CPA pipeline one of their 2022 primary strategic initiatives (see page 11 of the 2021 AICPA Trends report for the full list of pipeline-filling activities they will be going hard on this year), I thought now might be a good time to dust off the ol’ 1980s D.A.R.E. programming […]

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KPMG UK Somehow Won’t Be Getting a Record Fine From the Financial Reporting Council For Carillion Mess

I’m not a betting man, and that’s a good thing because, while not official yet, I would have bet my house on KPMG UK being fined more than £15 million for the whole Carillion audit fiasco. The Financial Times reported this afternoon: KPMG is set to be hit with its biggest-ever fine in the UK […]

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KPMG UK Somehow Won’t Be Getting a Record Fine From the Financial Reporting Council For Carillion Mess
Citrin Cooperman Got Sent to Their Room By the PCAOB For Broker-Dealer Audit Screw-Ups

After doing a quick Google search, it looks like the PCAOB hasn’t punished a public accounting firm for failures in its audits of brokers and dealers since 2016. But top 25 firm Citrin Cooperman broke that drought yesterday after being fined $200,000 by a disappointed PCAOB for violating standards related to broker-dealer audits. And three […]

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Citrin Cooperman Got Sent to Their Room By the PCAOB For Broker-Dealer Audit Screw-Ups
6 Rules of Audit Room Etiquette

As workers return to the office, many auditors find themselves visiting client sites for the first time. Given the two-year in-person hiatus we’ve all just been through, even first-year seniors don’t know how to approach audit room protocols. So here are some key rules you should follow in the audit room whenever you do go […]

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6 Rules of Audit Room Etiquette
What a Sh*tty Way to Find Out You’ve Been Laid Off

Getting laid off sucks. It has happened to me twice in the past 23 years. I’ve also been fired once for poor performance, but unlike the two times I was laid off, I knew exactly when I was being fired. I hated my job, I hated my boss (I was her only employee and she […]

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What a Sh*tty Way to Find Out You’ve Been Laid Off
Accountants Didn’t Wind Up In Court As Often In 2021

While there were plenty of accountants who behaved badly in 2021, the accounting profession as a whole was fairly well-behaved and competent last year, according to a new report from Cornerstone Research. Good job, everyone. From the report, Accounting Class Action Filings and Settlements – 2021 Review and Analysis: Reversing a three year trend, the […]

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Accountants Didn’t Wind Up In Court As Often In 2021
If You Are Young, Male, and Taking the CPA Exam We Have Some Good News For You

As any boomer who came of age in a time when slapping your female colleague’s backside was not only allowed but encouraged will tell you, guys are down hard these days. “Red pill” forums engage in endless debate about the plight of the modern man and some of these gents believe equality is a finite […]

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If You Are Young, Male, and Taking the CPA Exam We Have Some Good News For You
Things Are Getting Spicy Between PwC UK Employees and Lord Sugar

After being called “lazy gits” in a tweet last Friday by British businessman, entrepreneur, and TV show host Lord Alan Sugar, who reacted negatively to PwC UK announcing that it would allow employees to take Friday afternoons off from June to the end of August, we were curious to see if any PwCers across the […]

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Compensation Watch ’22: Big 4 Firm With the Most Negative Publicity In the U.K. Tries to Change All That By Giving Staff Raises of At Least £2,000

If you’re a regular visitor to this website, it shouldn’t be too hard to figure out which Big 4 firm we’re referring to: Carillion, loads of fines from the Financial Reporting Council, chairman’s rant leads to his resignation, Carillion, “unacceptable” bank audits, partners who are bullies, lawsuits, and layoffs. And did we mention Carillion? Yes, […]

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Back In My Day, Accountants Had to Walk Uphill Both Ways In the Hot Sun to Get to Work, Says Crotchety Old British Guy

British businessman, entrepreneur, and media person Lord Alan Sugar thinks employees of the Queen’s PwC are a bunch of “lazy gits [that] make me sick” for being allowed to take Friday afternoons off this summer. This is a bloody joke. The lazy gits make me sick. Call me old fashioned but all this work from […]

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Friday Footnotes: Firms on India Hiring Spree; PCAOB Heads Overseas; PwC Lets You See Your Family This Summer | 5.6.22

Mesa grandma, 25-year-old accountant share love of Phoenix Suns [Arizona’s Family] JoAnne Ralph and Ben Barchilon have a special bond, and it all started with their love of the Phoenix Suns. “It’s just wonderful to have another grandson,” said Ralph. “It upsets my granddaughter because she says ‘I’m not sharing you!’ And I said, yes […]

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In the Trenches: My Three Least Favorite Audit Rooms

Audit rooms come in all shapes and sizes—usually small, often windowless, sometimes with chairs you can actually sit on, and almost always as far away from the finance/accounting department as possible. After eight years in public accounting, I have loads of unforgettable audit room experiences. Here are just a few. The hostile work environment This […]

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Are Auditors Becoming as Hard to Find as a PS5?

Alternate title: If You Are an Accounting Student, Expect to End Up in Audit When You Graduate Ever since early 2020 we have been forced to learn how to go without, not always an easy task in our always-connected, on-demand, two-day-delivery world. I don’t know about you but if I have to wait longer than […]

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CPAs: Make Direct Indexing Your Estate Planning Secret Weapon

Traditionally, the role of accounting professionals in estate planning has been tertiary at best, with clients consulting CPAs only on the tax implications of select decisions—or simply leaving them out of the process altogether.  As you’re certainly sick of hearing by now, however, today’s most successful CPAs are taking on more advisory functions, with one […]

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Marcum Gives Employees the ‘Gift’ of Summer Hours on Fridays

During a town hall meeting on Tuesday in which the marriage between Marcum and Friedman was confirmed internally before the official press release was slapped on Marcum’s website in the afternoon, Marcum Chairman and CEO Jeff Weiner announced that it’s almost time for all those busy season morale-boosting pizza parties to be replaced by new […]

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Shape Up With This Five-Step Plan For Finance Department Fitness

Feeling a bit pudgy these days? You’re not alone. In one recent survey by WebMD, 54% of respondents reported having gained weight due to Coronavirus lockdowns. It makes sense; people were not going to the gym, many were subsisting on takeout (OK, basically all of us), and we weren’t getting in the daily steps one […]

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PSA: Telling Prometric Proctors To Go F*ck Themselves Will Probably Get You Kicked Out of the CPA Exam

Last week I wrote about the current Prometric mask rule as of May 2022 which in essence says you don’t have to wear a mask at the testing center but you can if you want to. This distinction is important as Prometric has always been a bit of the TSA on steroids when it comes […]

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The Fortune 100 Best Companies to Work For: Crowe #67 (2022)

We’ve finally reached the end of our coverage of the 2022 Fortune BCTWF with Crowe at No. 67. After making the BCTWF for the very first time in 2018 and staying on the list for 2019 and 2020, Crowe fell out of the top 100 in 2021. We speculated at the time it might have […]

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In KPMG Australia Cheating Scandal, Apparently Cheaters *Do* Win

From Australian Financial Review: Chartered Accountants ANZ has belatedly ruled that only 12 of the 422 members from big four consulting firm KPMG who took part in systemic exam cheating will be put through the professional body’s individual disciplinary process. The body’s disciplinary committee ruled that the “activities undertaken” by 410 KPMG CA ANZ members […]

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Friday Footnotes: EY and KPMG This Week’s Big 4 Lawsuits; Eliminate Accounting Majors?; Auditors Fire Messy Municipal | 4.29.22

New Deloitte report: working women face alarmingly high levels of burnout despite shifting work arrangements, rise in hybrid working [PR Newswire] Widespread burnout and lack of flexible work continues to hinder progress in supporting working women, according to the latest Deloitte report, “Women @ Work 2022: A Global Outlook” released today. The research reveals that […]

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Let’s Mesh Other Business Buzzwords to Form the Next Big Accounting Firm Name

First off, I want to thank those of you who reached out to us on Wednesday about Forvis being the new name of the combined BKD/DHG firm. I’ve been sick with COVID since early Wednesday morning and haven’t cracked open my laptop until now. I still feel like crap but OK enough to do this […]

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As of May 1 You Are No Longer Required to Wear a Mask at Prometric But You Still Can If You Want To

May 1 marks the two year anniversary of Prometric reopening its testing centers to CPA candidates after shuttering every single American test site in March 2020 due to… you know what I don’t need to type all this out, you know why they were closed. While the nail techs waited anxiously for Prometric to reopen […]

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As of May 1 You Are No Longer Required to Wear a Mask at Prometric But You Still Can If You Want To

May 1 marks the two year anniversary of Prometric reopening its testing centers to CPA candidates after shuttering every single American test site in March 2020 due to… you know what I don’t need to type all this out, you know why they were closed. While the nail techs waited anxiously for Prometric to reopen […]

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Rumor Mill: Two Top 35 Accounting Firms (One In the Top 15) Are In Merger Talks

Coming on the heels of a mega-merger in mid-February when top 20 public accounting firms BKD and Dixon Hughes Goodman (DHG) announced their nuptials, which when finalized will create a new yet-to-be-named top 10 firm, we are hearing that one of the 15 largest firms in the U.S. is in the talking stage of their […]

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Let’s Say Theoretically You Crap Your Pants Your First Week at a Big 4 Firm, What Should You Do?

Saw this on r/big4 over the weekend and while it’s obviously completely made up (despite being posted on the internet where absolutely nothing is fake ever), much like an account man getting his foot run over by a riding lawnmower by a secretary at an advertising firm, surely this has happened somewhere at a Big […]

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