The Guardian featured an opinion piece criticizing the big 4 this past weekend on June 3. They were mainly criticizing PwC, but they also threw some shots at the other firms. They started out with mentioning the size of the big 4 and how much revenue they make. They also mentioned how much revenue
2023 has proven to be a tough year economically for many companies. There has been a huge lift in the tech market related to AI however other industries have suffered. Consulting is one of those industries and that is why the big 4 accounting firms have started to lay people off. Most of their
Grant Thornton has announced that they will be laying off 300 people in the United States. This is about 3% of the US workforce. Grant Thornton is based in Chicago Illinois. KPMG and EY have already said that they will also have layoffs. EY said that they will lay off about 3,000 people in
PwC leaked the inner working of the Australia Tax Office over a number of years. That leak was uncovered in 2023. This leak occurred in 2023 by a PwC partner named Peter Collins. How did Peter receive this information? He was helping the Australian government design better tax laws. On its face this isn’t
Pwc employees forced back to the office in 2023 Tim Ryan held a webcast in the first week of may 2023 to let employees know that they would have to start working from the office again. People have to remember that the covid-19 pandemic created a whole work from home culture. Many high level
Earlier this week, on April 11, it was announced that EY was putting the brakes on their breakup plan. Carmine Di Sibio was certain that the plan would go forward. He reiterated that the plan would move forward despite earlier warnings that it would not. Now it is confirmed that the deal, as it
EY has been banned from some audits in Germany as of April 2023 as a result of the Wirecard audit. Wirecard went under in 2020 and EY faced plenty of scrutiny after the audit of the 2016 to 2018 years. Now they've been fined over $500,000 in Germany and they've been banned from auditing
EY is in the news again regarding their proposed break up. It has been reported by multiple news organizations that partners are infighting over terms. Many publications are blaming Julie Boland who will head the audit branch of EY after the break up. They cite a webcast with partners where she said that there
KPMG announced that they will slash 700 jobs in the US workforce. That is equal to 2% of their US workforce. KPMG is the first big 4 accounting firm to cut jobs in the US in 2023. They were also the first big 4 accounting firm to cut jobs during Covid around the world.
As usual KPMG is the last of the big 4 accounting firms to report their financial results. They reported their FY22 results in December 2022. They achieved $35 billion in revenues in 2022. Their fiscal year ended September 30, 2022. The actuals for the year were $34.64 billion which was rounded up to $35