Accounting Advices 

Poaching News Roundup: 10.13.21

A recap of recent non-Big 4-on-Big 4 poaching news throughout the accounting profession. BDO Stefan Beyers joined BDO UK’s financial services team as an audit partner. He has a boatload of experience in audit and advisory engagements for banking and capital markets clients. He previously worked at PwC for 19 years, most recently as a partner in banking and capital markets based in South Africa. [BDO/LinkedIn] Cherry Cromarty joined BDO UK as a partner in the risk advisory services team. She will be tasked with helping to grow BDO’s internal…

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Accounting Advices 

Promotion Watch ’21: BDO USA Admits 69 Lucky Boys and Girls to Partnership

The number of new partners in the fiscal year 2022 class at BDO USA would make Bill and Ted snicker. For some reason, we didn’t post anything last year about the FY 2021 new partners at BDO. I blame the pandemic, which is what I blame most things on these days. But this latest class of 69 Wayne Berson devotees has to be one of the largest in the firm’s history: 2021: 692020: ??2019: 482018: 372017: 362016: 392015: 302014: 242013: 162012: 152011: 132010: 5 Here’s a closer look at the…

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Accounting Advices 

Paying People More Will Not Win the Talent War, Says PwC India Leader Adamantly Opposed to Paying People More

From the moment ‘Generation Y’ entered the workforce at the turn of the century, the business leaders, politicians, and academics who came before us have been suffering from endless anguish over our alleged lack of loyalty and our pesky desire to find fulfillment in life beyond work. Many of us watched our parents give their lives to work only to be rewarded in divorces and “company restructuring,” it’s no wonder we questioned whether pledging our lives to our employers would be worth it. To make my point, I dug up…

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Accounting Advices 

Promotion Watch ’21: KPMG US Admits 170 New Partners

The partnership at KPMG grew by 170 people earlier this month, as 120 men and 50 women were outfitted with new golf attire before being handed keys to the club by CEO Paul Knopp and Deputy CEO Laura Newinski. This latest class of new partners (for FY 2022) is larger than FY 2021’s and FY 2020’s by 43% and 23%, respectively. Advisory has the most new Klynveldian partners, followed by tax and audit. Here’s the breakdown by service line and/or function: Advisory: 63Tax: 53Audit: 35Audit Quality & Professional Practice: 4Risk…

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Accounting Advices 

PwC Hits $45 Billion In Global Revenue In ‘New Equation’-less FY 2021

The FY 2021 numbers are in at PwC and global revenue rose 4.9% to $45.1 billion for the year ending June 30. Hey, nice job, everyone. And as you’d expect, Bob Mortiz is #PwCProud: “I’m tremendously proud of all we achieved in a challenging year, and the way we did it, leading with our values and people-first approach. Our top priority has been safeguarding the health, safety and well-being of our colleagues. With their resilience and steadfast commitment, we have remained focused, working together to deliver quality work and innovative…

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Accounting Advices 

Compensation Watch ’21: So Many People Are Bailing That KPMG UK Had to Change Its Bonus Structure

Attrition is the word on everyone’s lips these days, and you can bet that the ongoing Big 4 exodus is keeping plenty of partners up at night. Given the aforementioned stress-related insomnia, surely firm leaders are spending their extra awake hours coming up with creative, generous ways to hold on to the staff they have and signal to unhappy grunts at other firms that they are taking extraordinary steps to pay their people what they’re worth, revenue be damned. Right? RIGHT?? If you chortled heartily at the suggestion that firms…

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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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