Home Accountant Friday footnotes: where are the audit jobs; Big hires from BDO; A new concert for PwC Alum | 9.9.22

Friday footnotes: where are the audit jobs; Big hires from BDO; A new concert for PwC Alum | 9.9.22


Supply and demand

New York leads in projected growth in auditor and accountant jobs: Weekly stats [CFO] Projections on four job categories—accountants and auditors; credit analysts; financial managers; and financial and investment analysts, financial risk specialists, finance specialists and everyone in between – reveal that despite a global shift in workflow and flexibility, the most populous and economically productive states continue to open the way by welcoming the financial support staff of tomorrow. Although New York, Texas and California led the number of jobs offered for the roles analyzed, Florida was the only state to make the top five for each of the four positions examined.

Accounting department had banner year at annual Meet the Firms event [St. Cloud State TODAY] A RECORD. Who says interest in accounting is down these days! Admittedly, it was 176 people.

On the other side of the pond

Accountants are in high demand as average incomes reach nearly €120,000 [The Irish Times] A survey by industry group Chartered Accountants Ireland in conjunction with accountancy firm Barden shows that the average salary demanded by these professionals rose by €7,000 or 6% to €119,270 last year. The figure includes salary, car allowances and bonuses, and underlines what Chartered Accountants Ireland has described as a ‘continuation of strong earnings prospects for chartered accountants’.

BDO bolsters audit practice with 600 new interns following damning criticism from watchdog [City A.M.] Accountancy firm BDO has hired 600 new interns, including 400 at its audit firm, after the UK accountancy watchdog criticized the challenger firm for the “unacceptable” quality of its audits.

Big 4

Deloitte updates audit committee guidance to respond to changing risk landscape and regulatory environment [PR Newswire] Deloitte today launched an enhanced, digitized version of its “Audit Committee Guide”. Last published in 2018, Deloitte’s “Audit Committee Guide” provides a first-hand overview of the latest requirements and an explanation of the evolving roles and responsibilities of audit committee members, in particular in emerging areas such as environmental, social and governance issues, including cyber security. Although the guide focuses on the requirements of US-based public companies, much of the content can be leveraged by those who serve on non-public company audit committees. Each section of the “Audit Committee Guide” also includes questions that committees can consider asking to promote constructive dialogue on a variety of topics.

Plan to share green light from EY leaders [Wall Street Journal] Ernst & Young executives on Thursday kicked off a month-long plan to split its consulting and auditing businesses in a sweeping move that will generate windfalls for the firm’s partners and could disrupt the economic model of accounting firms. “This is something that will change the industry,” said Carmine Di Sibio, President and Global CEO of EY, in an interview.

The Take: Ernst & Young Breakup Could Shake Up Innovation As Well As Auditing [SAP News] “From a customer perspective, this will eliminate any type of conflict of interest,” said Evan Schultz, SAP global vice president of services and financial services ecosystem and partner ecosystem success. “And that could potentially lead to some sort of revival of the audit market, where you have pure audit firms that can focus entirely on that one activity. That would be helpful from a client perspective, especially if you think about integrated reporting.”

KPMG: 78% of American adults will socialize with friends in the metaverse [VentureBeat] People may not know what the Metaverse has in store for them beyond games, but the vast majority of American adults are ready to dive into it, according to a KPMG survey. Whether or not they agree on what it is, the Metaverse has captured the imagination of Americans. KPMG said about 78% of American adults said in a survey they see value in immersive interactions such as socializing with friends and family, while 76% say they see value in training. on the job in the Metaverse. Additionally, 59% of American adults say they expect the Metaverse to have a significant impact on their lives over the next 12 months, and an additional 48% report a significant impact over the next 5 years.

Mergers of accounting firms

Carr Riggs & Ingram merge into Atlanta-area company [INSIDE Public Accounting] Carr Riggs & Ingram LLC (CRI) (CRI) (FY21 net income of $382.3 million) acquired Brown Nelms & Co. PC of Peachtree City, Georgia.

Other things

FreshBooks taps ex-PwC as new CFO [CFO Dive] FreshBooks, a cloud-based accounting software company, has named Wayne Jackson as chief financial officer effective Sept. 6, the company announced. Jackson was previously CFO of digital payments company Cantaloupe, Inc.

Accountants should be leaders on pay equity [Accounting Today Opinion] Susan S. Coffey, CEO of the Association of International Certified Professional Accountants and Going Concern favorite, writes, “I strongly believe that the accounting profession needs to show leadership on pay equity, at the both as an advisor to clients and employers and as the implementer of equitable policies. within our offices. Our business cards are objectivity, integrity and transparency, so we should be the first to raise the red flag if pay practices are not aligned with gender, race or ethnicity. Lack of pay equity hurts business performance, recruitment and retention, and increases risk — in short, it’s bad business and we shouldn’t tolerate it. That’s why I found it so disturbing – infuriating, really – to read a recent Wall Street Journal article that used federal data to show that the median salary of men exceeded that of women three years after graduation. in nearly three-quarters of undergraduate and graduate programs. , representing a range of fields of study. An attached chart of career categories showed a distinct early pay gap between women and men for accounting and related services. Disparities like these are indefensible, and we cannot allow them to linger.

Confirmation of the conviction for accounting fraud of a manager of a freight company [Bloomberg Law] Prosecutors presented enough evidence of former Roadrunner Transportation Systems Inc. chief financial officer Peter Armbruster’s knowledge of accounting misstatements to support a jury verdict convicting him of four counts of accounting and stock fraud , the Seventh Circuit said Wednesday.

Accountant at party realizes too late that the person who asked him about his job was just being polite [Babylon Bee] It is SATIRE.

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