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Court ordered. Goes back to the tax shelter days. Part of SEC's settlement with KPMG was it "shall be subject to great mocking and ridicule among the Great Accounting Houses." In fact, EY had to agree to participate in the said mocking. I think all the firms did.
Who cares? At the end of the day, you get paid to do work. If the company forces you to do more work in excess of what you make, you get unhappy and leave.
I can’t understand why you peeps get so crazy with the whole “big 4” dominance crap. News flash, you aren’t that important and neither is your firm.
Honestly I think it’s just a joke and maybe because they bring in the least amount of revenue compared to other b4. I’ve had worse EY experiences as far as competency and quality are concerned
If you haven’t figured this out by now you were probably born to be tier 2 (**aka working at kpmg**)
@PwC2, possibly. But I believe Deloitte actually has the lowest per headcount revenue by a healthy margin of about $25k/head (comparing the US practices of each firm). So to me that would seem to be more indicative of prestige than size. I would say the same to EY 1. Regional firms are touted as low cost providers. Yet KPMG does not appear to be the cheapest of the big four. Regarding EY1’s point about bad press, did you know if you read the wiki page about accounting scandals, you’ll see that EY (or its ancestor firms) have been indicated as the auditor in ~1.4x the number of accounting scandals where KPMG (and its ancestor firms) were indicated?
Lol it’s a funny joke KPMG OP.
I think you’re right, EY2. I just get annoyed because it’s clearly unwarranted and not data-driven.
Says the dude who works for the firm who can’t even figure out what their name is... D? DT? DTT?
I'm pretty sure that they are rated pretty low by the pcaob quality standards. Also, Kpmg people always get mad about all of the bullying that they receive on this app and so it just feeds the fire.
Based on the way KPMG teams consistently conduct audits of poor quality and competency. I can attest to multiple regions where clients don’t know what else to do but laugh and feel beyond frustrated with KPMG, and continue to hear how they feel misguided or not up with the times. KPMG in recent years has also been greatly undercutting everyone else in the market in order to win work. AC’s and Boards like the numbers and have previous ties/relationship to KPMG but business leaders and day-to-day client contacts deal with more shit with KPMG than other firms generally, at least that’s the trend. I’ve personally worked with each of the firms countless times and don’t have anything against any one firm, and don’t feed into the competitiveness. All are great firms to work for; however, KPMG just has that rep nearly anywhere you go.
Yeah I don't think anyone actually cares other than inner big 4 rivalry. A tired joke.
In my experience it’s just one of those running jokes that continued rolling, like the nickelback of accounting. I think kpmg is perfectly fine, no worse than any of the others, just if you gotta hate on a competitor, kpmg became an easy target
I think that it's kind of a regional thing too. In the west, KPMG is similar to a regional firm but I know that in Asia for example they are very dominant. It's also because KPMG is always in the news for bad stuff.
Wtf does KPMG stand for anyways? Anyone know? There’s your answer...
Smaller headcount, smallest revenue (not sure about overall profits), involvements in recent scandals like the the hiring of former PCAOB staff to get advantage for upcoming reviews and yet still lagging behind other firms in review comments, last firm to get digital work papers, gets new market share by being the price leader vs winning on quality and innovation, etc. I admit, some of these are subjective, but thats been my experience in my market
Smallest of the 4 globally but agree with the regional comment. I think ey is close to number 5 in the uk. I do think said more in jest probs because someone started it once and got a reaction so just kept doing it
D&T bruh...
Which regional would be 4 in uk then?
It’s funny because the same people here would say “oh high growth startups you learn so much, when consistently the highest growing”. Deloitte Consulting was by mistake as they failed to sell it after EnRon (so enjoy passing it off as “we stuck with our people”). EY4 everyone hates auditors period, go roll forward some spreadsheets. PwC, got a lot of friends there, almost went there myself, you’re nice, but not above scandal either. We’ll take our sponsoring a golfer (lol the idea of mascots and theme songs for firms is great eh?). At the end of the day this is all a convo to make everyone feel superior, world is better when we recognize equals. Don’t make generalizations based on 1-2 experiences (that’s what people seem to get in trouble for in the news today).
Happy Thursday everyone!
@Deloitte 1
From wiki:
The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler." It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.