PwC’ers: how you doing these days? 🤭
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Happy Pride, all y’all 🌈🐠🐟🌈 out here!
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that mean you get 6 months of pay for doing nothing? I take that 🤩 free 6 month paid sabbatical right there. Absolutely glorious, US should do the same, just ban everyone for a short period of time please….
Massive layoff in PwC China already. The Guangzhou office (where the scandal happened) laid off upwards of 60% staff in the financial service audit group
Watching Big 4 personnel go to bat so hard for their respective companies when a chance comes to feign superiority over their “rivals,” but on the next post, act like their job/firm is the WORST…amazing.
Rising Star
Shroedinger’s koolaid
Not sure why you find that funny. Maybe you haven’t heard about any of the audit issues EY has had?
There’s no critical thinking left in the industry it feels
What’s going on at SMCI?
Wirecard :)
This you?
Seems like a good idea. All the firms should probably do this
The WSJ article says PwC China was only paid $4m a year to audit a complex, $350B company. IMO, if I had been a shareholder, I would have been deeply concerned about the audit because the fees were so absurdly low. And, if I was PwC China, I would have said it wasn’t worth the risk… no way they made money in that audit.
$4m usd buys a lot of labor in China…can’t think in terms of US fees and salary
Didn’t EY offload 80 some less profitable clients to help manage inspection risk (at least from one article I read)? Should we dig into those audits a bit more and see what we find?
Rising Star
I can’t tell if you’re being facetious or not. All big 4 (afaik) member firms in different countries are separate partnerships.
The quality of member firms can really vary. Back in ‘06 pwc was similarly banned for 2 months in Japan. They ended up having to rebrand or contract with a different local firm after.
Wow… this is what happens when we hire folks from EY!!!
If you post in Chinese you might get a relevant response.
In my opinion, it proves that these so-called accounting firms (especially big 4) are the foundation of fraud and corruption in our world.
The fact that someone would post this genuinely not knowing PwC China has almost no impact on their US LLP reminds me that people just don’t understand how we structure our firms
Big 4 are horribly managed. I see it everyday at PwC.
Rising Star
Hey hey we manage to screw up just fine!
I was on an audit for the tax provision and the engagement tax partner told me certain tax issues I brought up weren’t worth the effort to look into. There was this one tax issue I intentionally included the audit partner in just for kicks and lo and behold the audit partner wanted to go deep into that issue resulting in an additional 50K in tax fee to clear the audit side. Just saying clients and BOD don’t know any better, their job is to spend the least amount of $$$ on audit so no wonder the quality of audit has gone down. After that incident I seriously think about working for the IRS cuz of my ability to spot tax issues that can bring some $$$ to the govt and I do enjoy finding accounting and tax errors 😂😂😂