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Thoughts on Palantir long term?
Hi fishes, i got letter of intent from wipro 2weeks back and given joining date as april 27th and i accepted it after accepting 3days later i sent mails to the recriter and he didn't responded and also contacted hr's but they are also not lifting my call So, would they offer me a job or else i have wait. Please give some clarity. Thanks in advance, Wipro Wipro limted Cognizant IBM Tata Consultancy Accenture
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I don’t know about EY, but it is the case for PwC. I think it’s standard for all public accounting firms
Same for us too although we don’t have “independence” in the AICPA/SEC sense. Just strict COI policies. Same for my spouse who works in IB
Is the restriction only to audit clients or does it extend to some of these annoying restrictions like inability to use robo advisors and stuff like that? Is there a large list of restricted entities?
At PwC we cant use robo advisors. We have a list of approved brokerages we can use that participate in an integrated feed to our independence system. If you are uncomfortable with investment restrictions I would say B4 is not for you
Independence restrictions apply across a wide range of financial interactions, that at first don’t seem obvious.
An example of this would be the previously referenced Apple Pay balance or even such an instrument as a title policy that is obtained as part of the closing during the purchase of your residence.
Other examples, can be the company that holds the escrow balance for that same residence, any home equity line of credit (even if the balance is zero).
And to your original question, as to it applying to your newlywed spouse, the answer is yes, and in fact it was likely yes previously l, if you had been in active cohabitation situation or in other circumstances where there mutual financial activity.
Independence is real, its important and for the Big 4 its unavoidable, good luck to you.
Yup, that’s why I have to think long and hard about ever jumping to KPMG, wife’s company is an audit client of theirs and I don’t want to sell her shares since they appreciate so much
Nope not Amazon, they’re audited by EY not KPMG. Excellent guess though her company does begin with an A
Keep in mind you can’t force your spouse to tell you everything and you can’t control if they lie to you. Take that however you want
Request her to provide you with the list so you can check what you may need to dispose of and plan accordingly vs doing it at the last minute.
Every firm who performs external audit services has those restrictions, so certainly all B4. And they do not just apply to your spouse (they extend to your partners and if you’re named a trustee, etc). The restrictions are there because the firms must maintain not just their actual independence but also perception of that independence.
It applies to all audit clients but there are complex relationships there. For example, if an audit client has a significant business relationship with another company or invests into another company, they could also prohibit us from buying their stock.
There are also variations by level. For example, my restrictions are much stricter than they would be for a senior. And they extend to my SO. For example, I cannot be married to a CFO of a company we audit even bough I’m not the one auditing them.
Finally there are variations by action - stocks you can’t own but you may use their products in some cases, but you must report them. For example, we audit apple. I can’t own their stock, but I can use Apple Pay but I have to report that I have that account. I believe that is what you meant with the follow up question.
If you’re considering employment with a B4 and worried about the impact of this because you or your SO own a lot of stock, etc, you may request access to our detailed independence requirements and actual lists, so you can see how that would pang out for you.
Good luck to you!