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As mentioned in this week’s news brief, the Institute of CharteredAccountants in England and Wales (ICAEW) put together a snazzy little report on the state of mid-tier firms based on a survey of managing partners. This is gonna be long and there’s no TLDR. Get over it. So this is interesting.
PwC is facing legal action claiming the accountancyfirm is liable for the alleged rape of a graduate employee following after-work drinks. Auditors are required to include a going-concern warning if they believe there is a risk that the company may go bankrupt, rather than making a prediction that it will.
Publications around the world continue to discuss the tragic sudden death of a young auditor at EY India and dirt keeps making its way to the surface. AICPA is not looking out for accountants here in USA and their actions show they are in beds with US firms to get cheap labor. Never had an accounting class in her life.
All this time we thought it was going to be robots that take accounting jobs, it was Indians all along. Oh and reminder: the Institute of CharteredAccountants of India (ICAI) is working on a plan to consolidate India’s 96,000 little accountancyfirms into mega-firms that they think could compete with Big 4 on the global stage.
Brian Yujuico has been named vice president and senior chief auditor at AuditClub, the Audit Service Center and creator of the innovative auditors-as-a-service model. In this newly created role, Yujuico, a Certified Public Accountant, will oversee day-to-day activities of the growing team of chief auditors, crew and cadets.
The local news in Cincinnati covered this strategic move : One of Greater Cincinnati’s largest accountingfirms is being acquired by an Indianapolis company. Blue Ash-based tax, advisory and audit firm Cassady Schiller CPAs & Advisors will become part of Katz, Sapper & Miller in a transaction that will be completed May 31.
From The Times : “ Graduate jobs slashed as accountings big four feel the squeeze “ The big four accountingfirms have slashed graduate jobs and shed thousands of staff outside of official redundancy rounds, as they cut costs in the face of a prolonged downturn for professional services. billion in assets.
Big 4 Big Four Reshape Consulting Workforce, Strategy With Rare Layoffs [ Bloomberg Tax ] The Big Four accountingfirms have leaned into their tech advisory work and data analytics services—areas ripe for revenue growth—as interest rates and the artificial intelligence boom reshaped demand for consulting services.
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