KPMG receives huge fine in UK
KPMG received a 13 million pound fine in the UK over work they performed for Starlight. Reportedly there was some collusion between KPMG partners and a private equity firm to force Starlight into insolvency so that the private equity firm could buy Starlight on the cheap.
KPMG releases financial results in Australia
KPMG had a record year in Australia with $2.02 billion in revenue. This grew from 1.9 billion in the prior year despite covid 19.
The other big news is that partners increased their pay by 17%.
EY Expands Partnership With Microsoft
EY announced an expansion of their existing partnership with Microsoft. All the big 4 have some sort of partnership with Microsoft to pitch their products to big 4 clients.
This additional partnership will focus on back office automation. EY sees this market as a $15 billion market.
EY Accelerator Program
EY has announced that they will be helping candidates in the U.S. get enough credits to sit for the CPA exam. Most business schools only offer 120 hours for an accounting degree. EY wants to bridge the gap for students who need additionally credits. They also want to make it more affordable.