Accounting Newsletter 

Promotion Watch ’21: Deloitte Admits 169 New Partners and Principals In the U.S.

The smell of new partners and principals still permeates the air at the biggest of the Big 4, as Joe Ucuzoglu recently gave his blessing to the newest class of rainmakers at Deloitte. This latest class (technically the class of FY 2022) is 35% larger than last year’s class at Deloitte and 13% larger than the class of FY 2020. Let’s take a closer look of the class of FY 2022 by the numbers: 77: The number of new partners and principals who are women, or 45.6% of the class.67:…

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Accounting Advices 

PwC Australia Diversity and Inclusion Manager Who Mocked Chinese Accents Had to Be Told You Aren’t Supposed to Mock Chinese Accents

Australian Financial Review has a blockbuster of an exclusive this morning, one that involves “a human resources executive dressed as a bat from Wuhan” and a senior manager of diversity and inclusion mocking Chinese accents at a PwC Australia trivia event last week. From AFR: The virtual trivia was run by members of PwC’s human resources team as a work event for the national infrastructure division. These senior staff members’ responsibilities include improving diversity at the firm and being part of the complaints process for staff who feel they have…

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Accounting Advices 

EY Poaches Someone From KPMG and Issues a Press Release, Part III

Finally we have some Big 4-on-Big 4 poaching action here in the good ol’ US of A to write about, even though it involves a lateral move. After an 11-year stay at the House of Mickelson as a principal, Mitch Kenfield has joined EY’s Consulting practice in the same role. He announced his recent departure from KPMG and arrival to EY on LinkedIn: Kenfield, who served as an officer in the US Air Force, brings to EY more than 25 years of experience in advisory consulting and solutions development across…

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Accounting Advices 

How Are Public Accounting Salaries Stacking Up For 2022?

Robert Half finally released its 2022 Accounting & Finance Salary Guide late last week, and the good news is starting salaries in public accounting are expected to increase by more than 1% next year, unlike in Bob’s salary projections for 2021. Of the five positions each under “tax services” and “audit/assurance services” in the 2021 salary guide, not a single one had a starting salary that was projected to increase by 1%. The largest increase was only 0.66% for staff with under one year of experience in both tax and…

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Accounting Newsletter 

Compensation Watch ’21: Deloitte Puts Mid-Year Raises On the Table (Updated with Email From Deloitte CEO)

Thanks to a tipster, the following is an email Deloitte CEO Joe Ucuzoglu sent the troops this morning regarding the firm’s well-being subsidy, an additional holiday before Thanksgiving, reimbursing commuting costs, and, most importantly, mid-year salary increases: US Colleagues, We each value being at Deloitte for many different reasons—to build long lasting connections with colleagues, grow continuously in our careers, make an impact that matters on challenging issues for clients and society, and to become the true and best version of ourselves. Whatever the reason, and no matter how long…

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Accounting Services 

Grant Thornton Let Off the Hook Big Time By UK’s Audit Cops

Back in August 2018, Grant Thornton UK was given a £4 million fine by the Financial Reporting Council (reduced to £3 million after a settlement discount) for a then-partner’s conflict of interest in serving on the audit committees of two audit clients, in addition to “widespread and serious inadequacies in the control environment in Grant Thornton’s Manchester office … as well as firmwide deficiencies in policies and procedures relating to retiring partners.” The Evening Standard reported at the time that GT’s fine was the largest given to a non-Big 4…

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