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lisarprahl · 6 years ago

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Someone Break It to ‘UK’s Youngest Accountant’ That Accounting Is a Sh*tty Way to Become a Millionaire

Guys, allow me to introduce you to the UK’s “youngest accountant.” He’s making the rounds in the rags across the pond, so we figured we’d give him his 15 minutes of fame here in the good ole U.S. of A as well because we’re just generous like that.

Ranveer Singh Sandhu is a 15-year-old “entrepreneur” with big dreams who started an accounting firm out of his house at 12. It must be an exceptionally slow week in news over there because for some reason the papers decided to center half a dozen stories around this kid who, bless his heart, says he isn’t going to college and plans to be a millionaire in 10 years. Oh sweetie, aren’t you cute.

In 2014, we profiled then 17-year-old Belicia Cespedes, a young lady from California who started her bachelor’s degree at just 13 and passed the CPA exam just four years later. She studied for 14 hours straight some days while most of her peer group was out partying and immortalizing embarrassing moments for eternity via Instagram. Some might argue she missed out on the all-important teenage years, but whatever, kudos to her. Her parents hoped Guinness Book of World Records would name her the youngest CPA in history.

Meanwhile, this Ranveer kid says fuck college. Look, kid, I’m not trying to piss on your dreams or anything but being an accountant — and a successful one at that — isn’t like an illustrious career in tabloid blogging, you can’t drop out of school and rely on your wily charms for success like some of us *cough*.

Let’s see what he has to say about his future plans:

“I have always known what I wanted to do – I decided when I wanted to be an accountant was when I was 12 years old. It isn’t that hard juggling school and my business, I haven’t had that much stress. My clients are surprised when they find out my age, but my friends find what I do quite inspiring. Everyone loves what I do and people are very supportive of my business – my parents are impressed with how far I have come and how I have managed to do this all on my own. My plan for the future is to become a millionaire and expand my business.

You know how much the average licensed accountant in the UK makes? I don’t actually know, I’m asking. Anyway, I’m sure it’s nowhere near a million dollars, even with the currency conversion. Get real, my dude.

No mention of who his clients actually are but the Mirror article does say they are fellow “young entrepreneurs” which makes me think this kid is in for a hell of a wake-up call when he realizes his classmate’s weed business isn’t going to catapult him to a successful career in accounting. I mean how the fuck do his clients not know he’s 15?

You might be asking yourself what makes Ranveer qualified to be the UK’s ‘youngest accountant.’ I’m so glad you asked! At 12, he completed a Level 3 CPD basic accounting certificate, which as far as I can tell is a 60 hour, $300 course that anyone, probably even my cat who actually possesses better than average accounting skills for a cat having been born on Tax Day, could take. You’re allowed as many retakes as it takes to pass, and in the course description it states you don’t need any previous knowledge whatsoever. Topics covered include:

Accounting

Introduction to Accounting

Fundamental Accounting Concepts

The Double Entry Accounting System

The Financial Statements

Analyzing, Recording, and Classifying Transactions

Adjusting Entries

Closing Entries, Post-Closing Trial Balance, and Reversing

Well shit. Accounting and Intro to Accounting? Damn, no wonder this kid is feeling like he’s well on his way to a cool million in a decade.

Look, like I said, I don’t want to rain on your parade kid but it’s gonna take a lot more than some sketchy certificate to make a million dollars in accounting. Like, I dunno, real world experience that doesn’t include your aunt’s MLM losses and, you know, a degree. I mean, when I was 15 I was convinced I was going to be the next big American science fiction writer and look at me now, I’m an old tired drunk who never wrote a novel with my byline on a shitty accounting tabloid. Better to accept your fate now rather than lament on what could have been but never was later.

Ranveer, who does not plan to go to university, said: “My parents have always helped me from the beginning.

“My ambition is to make quite a lot of money out of it, expand my business and make it international while helping young people start their businesses at the same time.

“I want to accomplish everything by the age of 25 – I still have 10 years left.

“I plan to spend my money on investing in properties, building an empire of properties and when I passed my driving test, buy myself a car.”

I mean, what Fortune 500 company wouldn’t want to trust their business to a teenager with an online accounting certificate? It seems like a no-brainer really. Literally, no brains.

Good luck, kid. You’ll need it. And hey, if you decide to stop screwing around and pursue a career in the Big 4, come visit us in a few years to let us know how it’s going.

The post Someone Break It to ‘UK’s Youngest Accountant’ That Accounting Is a Sh*tty Way to Become a Millionaire appeared first on Going Concern.

from Accounting News https://goingconcern.com/someone-break-it-to-uks-youngest-accountant-that-accounting-is-a-shtty-way-to-become-a-millionaire/?utm_source=rss&utm_medium=rss&utm_campaign=someone-break-it-to-uks-youngest-accountant-that-accounting-is-a-shtty-way-to-become-a-millionaire

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lisarprahl · 6 years ago

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Accounting Class Actions Are Once Again a Billion-Dollar Business

Well, looky here. The total value of accounting securities class-action settlements in 2018 reached the second highest total in the past decade, according to a new analysis by Cornerstone Research.

The report found that while the number of accounting case settlements declined to 41 in 2018 from 49 in the previous year, total settlement value increased by more than five times to almost $4.5 billion, compared to $883 million in 2017. The dramatic increase was due to a handful of large settlements.

There were five “mega settlements” of $100 million or more in 2018, according to the report, all involving alleged weaknesses in internal controls, and four involved allegations of GAAP violations. Overall, accounting class actions accounted for 88% of all securities violation settlements, which totaled a whopping $5.1 billion that companies shelled out in 2018.

The last time the total value of accounting case settlements reached the $4 billion mark was in 2016, when nine settlements of $100 million or more represented $4.4 billion of the total $4.8 billion that was paid out. Overall that year, securities violation settlements reached $6.3 billion, the highest total in the past 10 years.

Here’s a handy-dandy chart from the report that shows accounting case settlement dollars as a percentage of total securities violation settlement dollars:

There were 143 accounting case filings during 2018, the second highest on record after 2017’s 165 and 86% higher than the historical average of 77 filings per year over the past 10 years.

The total number of accounting cases in 2018 was driven by the filing of 79 M&A-related accounting cases alleging failure to reconcile a non-GAAP measure to a GAAP measure, according to Cornerstone Research. But total accounting case filings went down by 28% in the second half of 2018 compared to the first half of last year, the report said.

Here’s another chart from the report that summarizes filings and settlements in 2018 compared to 2017:

The post Accounting Class Actions Are Once Again a Billion-Dollar Business appeared first on Going Concern.

from Accounting News https://goingconcern.com/accounting-class-actions-are-once-again-a-billion-dollar-business/?utm_source=rss&utm_medium=rss&utm_campaign=accounting-class-actions-are-once-again-a-billion-dollar-business

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lisarprahl · 6 years ago

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Vault 2020 Firm Rankings: Culture, Leadership, Relationships with Supervisors, and Work/Life Balance

Hey, guys. Hope you all had a nice, relaxing holiday weekend. As you know, Mondays after a holiday weekend suck, especially if you hate your job. But there are accounting professionals out there who were probably champing at the bit to come to work today because they actually enjoy being there and being around their co-workers, they have a life outside of the office, and their firm’s partners aren’t raging asshats.

Let’s take a look at Vault’s 2020 “quality of life” firm rankings to find out where these unicorns work.

Based on the results of a survey sent to 8,200 accounting professionals, Vault put together rankings of accounting firms in 18 categories that fall under its “Best Accounting Firms to Work For” section.

Last week, we looked at the best firms for benefits, compensation, vacation policies, and promotion policies. Today, we’re going to look at the best firms in the following four areas: culture, firm leadership, relationships with supervisors, and work/life balance.

Vault ranks the top 25 firms in each quality of life category, so we’ll share the top three firms in culture, leadership, relationships with supervisors, and work/life balance, as well as how some notables fared (previous year ranking in parenthesis).

Culture

1. Friedman (3, tie) 2. Brown Smith Wallace (3, tie) 3. Plante Moran (1) 4. PwC (8) 11. Grant Thornton (9) 13. Deloitte (17) 16. BDO USA (18) 17. KPMG (13) 23. CBIZ MHM (25) 24. RSM US (NR)

Firm leadership

1. PwC (5) 2. Friedman (6) 3. Brown Smith Wallace (3) 13. BDO USA (14) 14. Deloitte (10) 21. Grant Thornton (21) 22. KPMG (18) 23. RSM US (NR) 24. CBIZ MHM (23)

Relationships with supervisors

1. Friedman (3) 2. PKF O’Connor Davies (2) 3. PwC (5) 6. Deloitte (12) 10. Grant Thornton (9) 16. BDO USA (8) 17. KPMG (7) 22. CBIZ MHM (25) 24. RSM US (NR)

Work/life balance

1. Friedman (2) 2. Frank, Rimerman + Co. (4) 3. Brown Smith Wallace (3) 9. PwC (10) 10. Grant Thornton (17) 18. BDO USA (21) 20. Deloitte (22) 21. CBIZ MHM (25) 24. KPMG (23)

Outside of PwC, Friedman and Brown Smith Wallace were the big winners in each of these four quality of life categories. EY, which sat outside of the top 25 for the second straight year in Vault’s Accounting 50, is absent from these rankings, too, probably because the firm is getting a bad reputation globally for nurturing a culture of sexual harassment and intimidation (ALLEGEDLY).

We’ll take a look at some other Vault rankings later this week.

The post Vault 2020 Firm Rankings: Culture, Leadership, Relationships with Supervisors, and Work/Life Balance appeared first on Going Concern.

from Accounting News https://goingconcern.com/vault-2020-firm-rankings-culture-leadership-relationship-with-supervisors-and-work-life-balance/?utm_source=rss&utm_medium=rss&utm_campaign=vault-2020-firm-rankings-culture-leadership-relationship-with-supervisors-and-work-life-balance

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lisarprahl · 6 years ago

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PwC’s 2017 PCAOB Inspection Report Is Fairly Unspectacular

So far among the top seven firms in the U.S., the PCAOB has released 2017 inspections reports for five: one was god-awful (RSM US), one was horrible (KPMG), one was pretty, dare I say, good (Deloitte), and one was dynamic (Grant Thornton). PwC’s inspection report would probably fall on the “good” side (if you consider one-fourth of its audits inspected being screwed up “good”), yet it was pretty unremarkable, too.

Of the 55 audits conducted by PwC in 2016 that the PCAOB inspected, 13 were found to have problems “of such significance that it appeared to the inspection team that the firm, at the time it issued its audit report, had not obtained sufficient appropriate audit evidence to support its opinion,” the report stated.

Now, you could make a case for PwC’s 2017 inspection report being good because the 24% audit deficiency rate is below the firm’s historical average deficiency rate of 29%. Of the Big 4, PwC is tied with Deloitte for the lowest average deficiency rate from 2009 to 2016. Fist bumps all around.

But on the other hand, the firm’s inspection report is also underwhelming because P. Dubs’ audit deficiency rate actually got worse year over year. In fact, the firm’s deficiency rate decreased each year from a high of 41.3% in 2011 to a low of 20% in 2016 before climbing to 24% in 2017.

In addition, 49 of the 55 engagements inspected involved a financial statement audit and the audit of internal control, according to Compliance Week. Of the 13 problem audits, 11 contained internal control audit deficiencies, which means 22% of PwC’s internal control engagements inspected contained errors, up from 18% in 2016.

The three areas that caused PwC auditors the most confusion, according to the inspection report, were:

Failure to identify and test any controls that addressed the risks related to a particular account or assertion. (Seven audits)

Failure to sufficiently test the design and/or operating effectiveness of controls that the firm selected for testing. (Six audits)

Failure to sufficiently evaluate significant assumptions or data that the issuer used in developing an estimate. (Six audits)

But don’t worry, guys, PwC is on it, Chairman Tim Ryan and Assurance Leader Maria Moats said in their response to the PCAOB report:

Bringing value to the capital markets by consistently performing high-quality audits remains our top priority, including addressing the matters raised in the Report in a thorough and thoughtful way. We have evaluated each of the observations set forth in Part I – Inspection Procedures and Certain Observations of the Report and have taken appropriate actions under both PCAOB standards and our policies. Our evaluation included those steps we considered necessary to comply with AS 2901, Consideration of Omitted Procedures After the Report Date, and where applicable, AS 2905, Subsequent Discovery of Facts Existing at the Date of the Auditor’s Report and AS No. 2201, An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements.

We’re still awaiting EY’s and BDO USA’s 2017 inspection reports to be released, but until then, here’s the audit deficiency rate scorecard as of today (lowest to highest):

Grant Thornton (18%)

Deloitte (20%)

PwC (24%)

KPMG (50%)

RSM US (73%)

The post PwC’s 2017 PCAOB Inspection Report Is Fairly Unspectacular appeared first on Going Concern.

from Accounting News https://goingconcern.com/pwcs-2017-pcaob-inspection-report-is-fairly-unspectacular/?utm_source=rss&utm_medium=rss&utm_campaign=pwcs-2017-pcaob-inspection-report-is-fairly-unspectacular

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lisarprahl · 6 years ago

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Dorky Accountant Robbed His Employer to Buy Hookers and Blow Because Some Dude at the Office Made Fun of Him

Y’all ready to meet a real bad ass? You sure? I’m not sure you can take this.

Darren Carvill, 38, is headed to jail after a “weekend of madness” which included hookers and blow funded by approximately £170,000 ($220,000 USD) he stole from his employer, a car servicing company.

The Sun reports:

A source revealed: “He attended a club in London called Platinum Lace. He was offered to go to a private party.

“He went into a room with three escorts, they drank champagne and used cocaine.

“By the end of the night he had nine or ten escorts in with him.”

After blowing every penny he left the party alone, strolled 15 minutes to London Bridge station and took a train to Maidstone, Kent, where he still lived with his parents.

Alright, ladies, I’m gonna show you this guy but clutch those pelvic floor muscles tight, I’m not sure you can handle all this heat.

I can’t possibly imagine why this dude would have to pay for it

Appearing in court recently to answer for his blatant theft, Carvill’s attorney told the court that the whole issue stems from his client being a massive, awkward dork. “He has had a very unhappy life. For most of his life he has been bullied,” said barrister James Ross. “He has suffered from very low self-esteem and social awkwardness.”

Furthermore, Ross said that his client was a good, hard worker and that his bosses showed him respect; however, one office bully drove Carvill to steal £260,000 (approx. $337,000 USD) from his employer. “He says his bosses had shown them nothing but kindness. But other than the owners, there was at least one person who subjected him to ridicule and caused a downward spiral,” said Ross in court.

Well shit, if he was bullied all his life then what’s one more asshole? Dude should have just owned it and said he just wanted a weekend jam-packed with scantily-clad ladies of the evening and Colombian flake. Grow a pair, bro.

His super-elaborate theft scheme (that’s sarcasm in case I forgot to toggle the sarcasm font here) involved making fraudulent payments to himself under the guise of paying vendors. It started last year with Carvill “borrowing” £40,000 of which he repaid £36,500. By October, he took another £60,000 which he also planned to repay but… well, you can see where this is going.

This isn’t the first time the lifetime nerd has stolen from an employer. In 2008, he got a one-year suspended sentence for embezzling from a travel agency.

Carvill is off to jail for two and a half years, which promises to be way worse for him than putting up with an asshole in the office. But hey, at least he doesn’t have a chomo charge on his record.

The post Dorky Accountant Robbed His Employer to Buy Hookers and Blow Because Some Dude at the Office Made Fun of Him appeared first on Going Concern.

from Accounting News https://goingconcern.com/dorky-accountant-robbed-his-employer-to-buy-hookers-and-blow-because-some-dude-at-the-office-made-fun-of-him/?utm_source=rss&utm_medium=rss&utm_campaign=dorky-accountant-robbed-his-employer-to-buy-hookers-and-blow-because-some-dude-at-the-office-made-fun-of-him

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lisarprahl · 6 years ago

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REG Blueprint Changes for Q3 2019

The changes to the REG section of the CPA Exam are mainly clarifications and don’t change the testable items on the CPA Exam.

Question Clarifications

Assume all information provided in the question is material and should apply all stated assumptions.

If timing affects the tax treatment of the topic tested, the question will include a clear indication of timing.

Assume that the event referenced in the question occurred in the current year and apply the most recent tax laws.

Task Clarifications

Area III, A, 4 – Federal Taxation of Property Transactions – Acquisition and Disposition of Assets – Related Party Transactions:

Related Parties: Calculate direct and indirect ownership percentages of stock or partnership interests to determine whether there are related parties for federal income tax purposes.

Area III, C, 3 – Federal Taxation of Property Transactions – Estate and Gift Taxation – Determination of Taxable Estate:

Recall assets includible in decedent’s gross estate for federal estate tax purposes.

Recall allowable estate tax deductions for federal estate tax purposes.

CPA Exam Blueprints

Categories

CPA Exam Updates

Feature on ACT Professors page

Teaser

<div id="gb29un5qox" class="az-element az-section" style="" data-az-id="gb29un5qox" data-azb="az_section"><div class="az-ctnr container" data-azcnt="true"><div class="az-element az-text" style="" data-az-id="gbixiv0k3r" data-azb="az_text" data-azcnt="true"><h2><img alt="REG-Blueprint-Changes-Q3-2019" class="img-responsive" data-cke-saved-src="/sites/default/files/filefield_paths/REG-Blueprint-Changes-Q3-2019.png" src="/sites/default/files/filefield_paths/REG-Blueprint-Changes-Q3-2019.png" style="height: 400px; width: 400px;">Do you know what the 2019 REG updates entail?</h2><p>We show you how the Blueprints for this section of the CPA Exam incorporate the new changes for the 2019 CPA Exam. </p></div></div></div>

from Accounting News https://www.rogercpareview.com/blog/reg-blueprint-changes-q3-2019

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lisarprahl · 6 years ago

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#TBT: Retired Accountant Whose Last Name Is Bunny Wins Easter Contest

This gem comes from the Warrington Guardian in England back in April 2014:

Bookmakers feared the work of a prankster when the winner of a £124,987 first prize in a nationwide contest culminating ahead of Easter was Mr. Bunny.

But the winner of the Easter cash is in fact retired accountant David Bunny who now plans to spend the money on his three cherished grandchildren.

Ben Turnbull, commercial manager of the Tote-Ten-To-Follow competition, said when Bunny’s name popped up just ahead of Easter, “we thought it was a wind up and that someone was pulling our leg.”

“It didn’t help that he appeared at the top of the leader board around April Fool’s Day.

“But we got an even bigger surprise to discover that it actually was Mr. Bunny in the money in time for Easter.”

The post #TBT: Retired Accountant Whose Last Name Is Bunny Wins Easter Contest appeared first on Going Concern.

from Accounting News https://goingconcern.com/tbt-retired-accountant-whose-last-name-is-bunny-wins-easter-contest/?utm_source=rss&utm_medium=rss&utm_campaign=tbt-retired-accountant-whose-last-name-is-bunny-wins-easter-contest

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lisarprahl · 6 years ago

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Hey Y’all, Let’s Get Salty About These 2018 Elijah Watt Sells Award Winners

Whelp it’s that time of year again, the time when we recognize the efforts of an elite handful of CPA exam candidates whose performance on one of the toughest professional examinations out there ranks the best of the best. The AICPA handed out 110 Elijah Watt Sells Awards for 2018 last week, and as is tradition around these parts, we will recognize each and every one of them.

In order to qualify for the award, candidates must score at least a cumulative 95.50 across all four parts of the exam and pass each part on their first try. Additionally, 2018 award winners completed testing in that year.

Now, let’s get to recognizing, shall we? At the end, we’ll tally up the firm totals so we can hold a brief dick measuring contest, as is also tradition around these parts. TL;DR straight to the bottom if you’re looking for that.

Kelsey M. Alexander (Colorado), a graduate of University of Colorado Boulder with a BS in Business Administration and MS in Accounting, is employed with KPMG in Denver, Colorado.

Ruicheng Richard Bai (California), a graduate of University of California, Berkeley with a BS in Business Administration and a BA in Statistics, is employed with Deloitte Tax LLP in San Francisco, California.

Hayden C. Bauer (Kansas), a graduate of the University of Notre Dame with a BBA in Accountancy and a Master of Accountancy from the University of Arkansas is employed with KPMG in Chicago, Illinois.

Michelle Bauer (Washington), a graduate of University of Washington with a BABA in Accounting and Information Systems, is employed with Moss Adams LLP in Seattle, Washington.

Bridget J. Bauman (Texas), a graduate of Texas A&M University with a Bachelor of Business Administration in Accounting & Business Honors and Master of Science in Accounting, is employed with Bray International, Inc., in Houston, Texas.

Alice M. Begovich (Virginia), a graduate of The University of Dayton with a Bachelor of Chemical Engineering and Master of Accountancy from The University of Tennessee is employed with Deloitte Tax LLP in McLean, Virginia.

Mary Kate Breese (Pennsylvania), a graduate of Grove City College with a BS in Accounting and in Finance is employed with Felix and Gloekler, P.C. in Erie, Pennsylvania.

Asher Brown (Oklahoma), a graduate of The University of Oklahoma with a BBA in Accounting and Masters of Accountancy is employed with Grant Thornton, LLP in Oklahoma City, OK.

Matthew Brooks (Texas), a graduate of Brigham Young University with a BA in French Studies and a MS in Accounting from The University of Texas at Dallas is employed with Deloitte Tax, LLP in Dallas, Texas.

John Browning (New York), a graduate of University of North Carolina at Asheville with a Bachelor of Science in Accounting and a Bachelor of Arts in Economics in Economics; and Master of Science in Accountancy from Wake Forest University, is employed with KPMG in New York, NY.

Katherine Brunt (Texas), a graduate of Texas A&M University with a BBA in Accounting and Business Honors and a Masters of Financial Management is employed with EY, LLP in Dallas, Texas.

Emily Buzby (Florida), a graduate of the University of Florida with a BS in Accounting and MS in Accounting, is employed with KPMG in Jacksonville, Florida.

Guillermo Andrew Casay (Maryland), a graduate of the University of Maryland, College Park with a BS in Accounting and Finance is employed with the FDIC in Arlington, VA.

Joseph S. Cassata (Illinois), a graduate of DePaul University with a BSC in Accounting and Management, is employed with Wellen Capital in Chicago, IL.

Jamie Castor (Texas), a graduate of the University of Texas at Austin with a BS in Mathematics and Sports Management and an Advanced Technical Certificate in Accounting from Austin Community College, is employed with EY, LLP in Houston, TX.

Michaela K. Christian (Iowa), a graduate of Iowa State University with a Bachelor of Science in Accounting and Bachelor of Science in Finance, is employed with RSM US LLP in Des Moines, IA.

Nathan Claflin (Wisconsin), a graduate of the University of Wisconsin-Eau Claire with a BBA in Accounting, is employed with EY in Minneapolis, Minnesota.

Margaret Collins (North Carolina), a graduate of Wake Forest University with a BS in Accounting and MS in Accountancy employed with PricewaterhouseCoopers in Charlotte, North Carolina.

Douglas Coons (Nebraska), a graduate of the University of Nebraska-Lincoln with a Bachelor of Science in Business Administration and a Master of Science in Accountancy from the University of Notre Dame is employed with Deloitte in Omaha, Nebraska.

Clare Creighton (North Carolina), a graduate of Rice University with a Bachelor of Arts in Cognitive Sciences and Master of Accountancy from University of North Carolina at Charlotte, is employed with Richey May & Co. in Charlotte, NC.

Christopher D’Agostino (Michigan), a graduate of Walsh College with a bachelor’s degree in accounting is employed with Rehmann in Troy, Michigan.

Thomas Deal (Oregon), a graduate of Santa Clara University with a BS in Accountancy is employed with KPMG LLP in Portland, OR.

William Joseph Donohue III (Ohio), a graduate of The Ohio State University with a BSBA in Marketing and Master of Accountancy from Cleveland State University is employed with KeyBank in Cleveland, Ohio.

Michael Dougherty (Florida), a graduate of The University of Florida with a Bachelor of Science in Accounting and Master of Accounting from The University of Florida (if applicable) is employed with Dixon Hughes Goodman, LLP in Jacksonville, Florida.

Gogo Duale (California), a graduate of Aston University with a BSc in Economics and Management, an MSc in African Development from the London School of Economics and a Certificate in Accounting from UCLA Extension is employed with KPMG in Los Angeles, California.

Jesse Eles (Connecticut), a graduate of the University of Connecticut with a BS in Accounting is employed with Ernst & Young in Greenwich, Connecticut.

Timothy Fallon (Alaska), a graduate of University of Wisconsin – La Crosse with a BS in Accountancy, is employed with KPMG LLP in Minneapolis, Minnesota.

Sijie (Jessie) Fang (Illinois), a graduate of University of Illinois at Urbana-Champaign with a BS in Accounting and Marketing and MS in Accounting, is employed with KPMG in Chicago, Illinois.

Marielle Fesmire (California), a graduate of University of California, Los Angeles (UCLA) with a BA in Business Economics is employed with PwC, LLP in Los Angeles, CA.

Stephen Flessner (Maryland), a graduate of University of Maryland, College Park with a BS in Accounting and a BS in Finance is employed with EY, LLP in Baltimore, MD.

Brian P. Frey (District of Columbia; Virginia), a graduate of the University of Maryland with a BS in Accounting and a BS in Information Systems, is employed with KPMG LLP in Washington, DC.

Amy Fursa (Minnesota), a graduate of College of Saint Benedict and Saint John’s University with a BA in Accounting is employed with Ernst & Young, LLP in Minneapolis, Minnesota.

Natalie Gilbert (Texas), a graduate of The University of Texas at Austin with a BBA in Accounting and a Masters in Professional Accounting, is employed with PricewaterhouseCoopers in Houston, Texas.

Sanyam Goel (New Hampshire), a graduate of Delhi University with a Bachelor of Commerce, is employed at Shyam Goel and Associates in New Delhi.

Katherine Griesemer (Tennessee), a graduate of Lee University with a BS in Accounting and Finance and is employed with Unity Dance Troupe in Cleveland, Tennessee.

Johnathan Grimaldi (New York), a graduate of Boston College Carroll School of Management with a Bachelor of Science in Accounting and Finance is employed with PwC in New York, New York.

Alex Gunnerson (Oregon), a graduate of Brigham Young University with a Bachelors Degree in Accounting and Masters of Taxation (also Brigham Young University) is employed with KPMG in Portland, Oregon.

Wesley Davis Guymon (California), a graduate of Utah Valley University with a BS in Accounting and MS in Accounting from Southern Utah University, is employed with CVF Capital Partners in Davis, California.

Caleb Guzman (Texas), a graduate of Texas A&M University with a BBA in Accounting and MS in Accounting is employed with EY, LLP in Houston, Texas.

Justin Henry (Wisconsin), a graduate of University of Wisconsin – Whitewater with a Bachelors of Business Administration in Accounting and Masters of Professional Accountancy from University of Wisconsin – Whitewater (if applicable) is employed with CliftonLarsonAllen in Madison, WI.

Tori Hardiek (Indiana), a graduate of Butler University with a BS and MS in Accounting, is employed with Somerset CPAs and Advisors in Indianapolis, IN.

Lauren Heller (Hawaii), a graduate of Rice University with a B.A. in Mathematical Economic Analysis and Master of Accounting is employed with J.P. Morgan in Houston, Texas.

Sarah Henderson (West Virginia), a graduate of University of Charleston with a BS in Accounting and Finance is employed with Suttle & Stalnaker, PLLC in Charleston, West Virginia.

Nathan Herrmann (Colorado), a graduate of Oklahoma State University with a B.S. and M.S. in Accounting, is employed with KPMG, LLP in Denver, CO.

Adam Heussner (Minnesota), a graduate of University of Wisconsin-Eau Claire with a BBA in Accounting, is employed with PricewaterhouseCoopers of Minneapolis, Minnesota.

James P. Hodson (Pennsylvania), a graduate of West Chester University of Pennsylvania with a BS in Accounting and Finance, is employed with EY in Philadelphia, PA.

Timothy Hubner (Illinois), a graduate of University of Illinois at Urbana-Champaign with a Bachelor’s in Accounting and a Bachelor’s in Finance and is employed with KPMG in Chicago, Illinois.

Brenden Hull (Georgia), a graduate of the University of Georgia with a BBA in Accounting and International Business and a Master of Accountancy, is employed with CohnReznick LLP in Atlanta, Georgia.

Michael Janenko (Pennsylvania), a graduate of DeSales University with a Bachelor’s Degree in Accounting and Finance and MBA from DeSales University is employed with Olympus America Inc in Center Valley, PA.

Laura Elise Jones (Texas), a graduate of The University of Texas at Austin with a Bachelor of Business Administration in Accounting and Master in Professional Accounting is employed with KPMG in Dallas, Texas.

Szu Yin Chen Keen (Oregon), a graduate of National Chiao-Tung University with a BA in Management Science and MBA from Willamette University is employed with Doty, Pruett, Wilson PC in Salem, Oregon.

Minjae Kim (Texas), a graduate of The University of Texas at Austin with a BBA in Accounting/Business Honors Program and Master in Professional Accounting, is employed with Analysis Group in Dallas, Texas.

Michael Kimble (Kentucky), a graduate of University of Louisville with a Bachelor of Science in Business Administration in Accounting and a Master of Accounting from William & Mary, is employed with BKD CPAs & Advisors in Louisville, KY.

Mizuki Kio (California), a graduate of University of California, Los Angeles (UCLA) with a BA in Business Economics is employed with Deloitte Tax, LLP in Los Angeles, California.

Katherine Kress (Wisconsin), a graduate of University of Wisconsin-Oshkosh with a BBA in Accounting, is employed with CliftonLarsonAllen LLP in Appleton, WI.

Collin Kuntz (Missouri), a graduate of Truman State University with a Bachelor of Science in Accounting and a Master’s in Accountancy is employed with Bayer in St. Louis, Missouri.

Mike Lamers (Wisconsin), a graduate of University of Wisconsin-Madison with a BBA in Accounting and Finance, is employed with PricewaterhouseCoopers in Milwaukee, Wisconsin.

Nathaniel Levy (Arizona), a graduate of Northern Arizona University with a Bachelors of Accountancy and Master of Business Administration (Accounting focus) from Northern Arizona University is employed with KPMG in Phoenix, Arizona.

Xiaoxuan Li (California), a graduate of UCLA with a Bachelor of Arts in Business Economics, is employed with Pricewaterhouse Coopers in Los Angeles, California.

Corey Lockridge (Tennessee), a graduate of Vanderbilt University with a Bachelor of Arts in Mathematics and Economics and a Master of Accountancy, is employed with PwC in Atlanta, GA.

Michael Lundberg (Utah), a graduate of Brigham Young University with a Bachelor’s Degree in Accounting and Master of Accountancy Degree from Brigham Young University is employed with Grant Thornton LLP in Salt Lake City, Utah.

Benjamin C. Lyford (Missouri), a graduate of Missouri State University with a Bachelor’s of Science in Accounting and Master of Accountancy from Missouri State University is employed with BKD LLP in Springfield, Missouri.

Ziheng Ma (New York), a graduate of Hainan University with a BS in Accounting and a MS in Accounting from Fordham University, is employed with KCH & Co., P.C. in New York, NY.

Matthew Maley (Minnesota), a graduate of the University of Wisconsin-Madison with a BBA in Accounting and a Master of Accountancy is employed with General Mills in Minneapolis, Minnesota.

Philip Mann (Texas), a graduate of Texas A&M University with a BBA in Accounting and MS in Accounting is employed with PricewaterhouseCoopers in Fort Worth, Texas.

Caleb Martin (Indiana), a graduate of IUPUI with a BSB in Accounting, Finance, and International Studies, is employed with Katz, Sapper & Miller, LLP in Indianapolis, IN.

Jennifer Mason (Arizona), a graduate of University of Phoenix with a Bachelor of Science in Business with a concentration in Accounting and Master of Science in Accountancy from University of Phoenix is employed with Kindly Care, Inc. in Gilbert, Arizona.

Ashley McDowell (Colorado), a graduate of University of Nebraska – Lincoln with a BS in Accounting and a Master of Professional Accountancy is employed with BKD, LLP in Colorado Springs, Colorado.

Jake McElmury (Minnesota), a graduate of University of Minnesota-Twin Cities with a BSB in Accounting and Finance, is employed with Deloitte in Milwaukee, Wisconsin.

Ryan McMillen (Illinois), a graduate of University of South Carolina with a BS in Accounting and Finance and Master of Accountancy is employed with Ernst & Young, LLP, in Chicago, IL.

Max Michaels (California), a graduate of University of San Diego with a BA in Accountancy is employed with EY LLP in San Diego, CA.

Scott Mikus (Pennsylvania), a graduate of University of Pittsburgh with a BS in Accounting and Finance, is employed with BNY Mellon in Wilmington, Delaware.

Matt Moran (Illinois), a graduate of the University of Iowa with a BBA in Accounting and Finance, is employed with PricewaterhouseCoopers in Chicago, Illinois.

Joel Morris (Oregon), a graduate of Portland State University with a B.S. in Accounting and Finance, is employed with PricewaterhouseCoopers in Portland, Oregon.

Yusi Mu (California), a graduate of Nankai University with a Bachelor of Management and a Master of Accounting from University of Southern California, is employed with EY in Los Angeles, CA.

Patrick Nanna (Massachusetts), a graduate of Northeastern University with a BSBA in Accounting and MS in Accounting, is employed with Deloitte & Touche LLP in Boston, Massachusetts.

David Newell (Missouri), a graduate of Truman State University with a Bachelor of Science in Accounting and is earning a Master of Accounting with Data Analytics from Villanova University and is employed with KPMG in St. Louis, Missouri.

Tom Neyer (Missouri), a graduate of University of Missouri–Columbia with a BS and MS in Accountancy, is employed with Grant Thornton in St. Louis, Missouri.

Sarah Olson (Illinois), a graduate of University of Illinois at Urbana-Champaign with a BS and MS in Accountancy is employed with PricewaterhouseCoopers in Chicago, Illinois.

Aaron Pannell (Florida), a graduate of Florida State University with a B.S. Accounting and a Master of Accounting from Florida State University is employed with EY in Tampa, FL.

Joseph Pearson (South Carolina), a graduate of Brigham Young University with a bachelor’s degree in Accounting and Master of Accountancy is employed with Deloitte in Phoenix, Arizona.

Dustin S. Peck (Pennsylvania), a graduate of Messiah College with a Bachelor of Science in Accounting is employed with Trout, Ebersole & Groff, LLP in Lancaster, Pennsylvania.

Steven Pochini (Michigan), a graduate of the University of Notre Dame with a BBA in accountancy and theology and an MS in accountancy is employed with Plante Moran in Ann Arbor, MI.

Allyson Randle (South Carolina), a graduate of Clemson University with a Bachelor of Science in Accounting and Master of Professional Accountancy from Clemson University is employed with Ernst & Young in Greenville, SC.

Kelsey Ray (Oklahoma), a graduate of Oklahoma State University with a BS and MS in Accounting is employed with EY in Tulsa, Oklahoma.

Matthew Reid (Georgia), a graduate of Purdue University with a BS in Management, an MBA from Indiana University, and an LL.M. in International Finance from Goethe University Frankfurt, is employed with BrandSafway in Atlanta, Georgia.

Nicholas Reilly (Illinois), a graduate of University of Illinois at Urbana-Champaign with a BS and MS in Accountancy, is employed with BDO USA, LLP in Chicago, Illinois.

Oscar Ryland (Ohio), a graduate of Miami University with a BS in Accounting and Finance is employed with Grant Thornton LLP in Cincinnati, Ohio.

Anthony Salazer (Louisiana), a graduate of Tulane University with a Finance and Marketing Undergraduate Degree and a Master of Accounting Degree is employed with EY in New Orleans, LA.

Brandon Salk (Rhode Island), a graduate of Bryant University with a BS in Business Administration and MS in Taxation, is employed with Grant Thornton, LLP in Westborough, Massachusetts.

Anne Salloom (New York), a graduate of Holy Cross with a Bachelor of Arts in Classics and a Master of Science in Accounting and MBA from Northeastern University, is employed with PwC in New York, New York.

Matthew Sorensen (Minnesota), a graduate of The University of Minnesota – Twin Cities with a BSB in Accounting and Finance is employed with KPMG in Minneapolis, Minnesota.

Andee Soza (Arizona), a graduate of Brigham Young University with a Bachelor of Science in Accountancy and Master of Accountancy from Brigham Young University is employed with KPMG, LLP in Salt Lake City, Utah.

Ted Spilde (Minnesota), a graduate of Hamline University with a BBA in Accounting and Master of Accounting with Data and Analytics from the University of Missouri is employed with KPMG in Minneapolis, Minnesota.

Lawrence Stark (MA), a graduate of University of Vermont with a Bachelor of Science in Business Administration and Master of Accountancy from University of Vermont is employed with PwC in Boston, MA.

Regan B. Stewart (Texas), a graduate of Brigham Young University with a BS in Accounting and MS in Accounting is employed with EY LLP in Dallas, Texas.

David Stone (Maine), a graduate of the University of Southern Maine with a BS in Accounting and Economics and MBA from Thomas College, is employed with BerryDunn in Portland, Maine.

Cailin Yoho Thompson (West Virginia), a graduate of West Virginia University with a Bachelor of Science in Business Administration in Accounting and a Master of Accountancy from West Virginia University is employed with Suttle & Stalnaker, PLLC in Parkersburg, WV.

Ryan Thorsen (Colorado), a graduate of Brigham Young University with a BS in Accounting and MS in Tax, is employed with KPMG in Denver, Colorado.

Sharon Tucker (Illinois), a graduate of Northern Illinois University with a Bachelor’s of Science – Accountancy, and Masters of Accounting Science, is employed with Tighe, Kress & Orr in Elgin, Illinois.

Kurt Urbanski (Indiana), a graduate of Purdue University North Central with a BS in Accounting is employed with Crowe LLP in South Bend, Indiana.

Vanessa Vandamas (Florida), a graduate of Florida International University with a Bachelor of Accounting and a Master of Accounting is employed with Deloitte in Miami, FL.

Kerry Walley (Illinois), a graduate of the University of Illinois at Chicago with a Bachelor of Science in Accounting is employed with True Partner’s Consulting, LLC in Chicago, IL.

Austin Wang (New Jersey), a graduate of Washington University in St. Louis with a BA in Japanese and Economics and MA in East Asian Studies and a Master in International Economic Policy from Sciences Po Paris, is employed with Inteplast Group in Livingston, New Jersey.

Kaylie Windham (Texas), a graduate of Texas A&M University with a BBA in Business Honors and Accounting and an MS in Accounting is employed with EY, LLP in Houston, Texas.

Warren Wolf (Arkansas), a graduate of Louisiana Tech University with a Bachelor’s of Science in Accounting and a Master of Accountancy is employed with the Louisiana Legislative Auditor in Monroe, Louisiana.

Siying (Clara) Yang (Illinois), a graduate of University of Notre Dame with a BBA in Accountancy and ACMS (Applied and Computational Mathematics and Statics) is employed with Deloitte in Chicago, Illinois.

Xiaoqing Ye (California), a graduate of Shanghai University with a BA in Economics and MS in Accountancy from San Diego State University is employed with BDO USA, LLP in San Diego, California.

Alexandra Yunker (New York), a graduate of Fordham University with a BS in Accounting and MBA, is employed with Grant Thornton LLP in Boston, Massachusetts.

Joe Zywicki (Michigan), a graduate of Michigan State University with a B.A. in Accounting and is employed with KPMG Deal Advisory in Chicago, IL.

Totals: Deloitte 10 EY 4 KPMG 20 PwC 5

Well dang, who saw that coming? I certainly didn’t. Good work, House of Klynveld!

Now, inb4 someone chimes in that the Watt Sells Award is stupid and its winners dumb for aiming for anything above a 75 since passing is all that matters in the grand scheme of things, it’s kind of cool that the AICPA recognizes exceptional performance on the exam. As they mention in their press release, it’s a prestigious award few achieve, one earned solely through effort. Award winners, you should be proud.

Plus there’s a $20,000 bonus for Elijah Watt Sells winners at some firms, at least there used to be. I’m gonna go ahead and assume that’s still the case as I’m too lazy to pick up the phone and call around to ask. Yeah, let’s go with that.

Congrats winners!

The post Hey Y’all, Let’s Get Salty About These 2018 Elijah Watt Sells Award Winners appeared first on Going Concern.

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lisarprahl · 6 years ago

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Vault 2020 Firm Rankings: Benefits, Comp, Vacation, and Promotion Policies

Earlier this week, we wrote about PwC’s continued dominance on Vault’s Accounting 50 and most prestigious firm rankings. Today, we’re going to focus on four of the 18 “quality of life” rankings that fall under Vault’s latest Best Accounting Firms to Work For section. And these four categories are near and dear to your heart: benefits, compensation, vacation policies, and promotion policies.

The results are based on how more than 8,200 accounting professionals rated their own firms in these four areas. This is different from the prestige rankings, in which Vault asked these accounting professionals to only rate their peer firms on prestige, not their own.

Vault ranks the top 25 firms in each quality of life area, so we’ll share the top three firms in benefits, compensation, vacation policies, and promotion policies, and throw in some honorable mentions for each (previous year ranking in parenthesis).

Benefits

1. PwC (1) 2. Untracht Early (NR) 3. Frank, Rimerman + Co. (9) 5. Deloitte (3) 10. BDO USA (10) 12. KPMG (14) 13. CBIZ MHM (18) 14. Grant Thornton (21) 20. RSM US (22)

Compensation

1. Brown Smith Wallace (1) 2. Untracht Early (NR) 3. Frank, Rimerman + Co. (13) 5. PwC (14) 12. BDO USA (16) 17. CBIZ MHM (20) 18. KPMG (9) 22. RSM US (24) 23. Deloitte (18)

Vacation policies

1. Frank, Rimerman + Co. (2) 2. PKF O’Connor Davies (8) 3. Armanino (14) 8. Grant Thornton (24) 9. PwC (6) 18. KPMG (13) 20. Deloitte (23) 21. BDO USA (19) 22. CBIZ MHM (22) 25. RSM US (NR)

Promotion policies

1. PwC (4) 2. Friedman (7) 3. Frank, Rimerman + Co. (1) 4. KPMG (3) 5. BDO USA (13) 6. Deloitte (9) 13. Grant Thornton (12) 18. CBIZ MHM (22) 22. RSM US (25)

We’ll do some more of these types of articles soon highlighting other Vault quality of life category rankings. Mmmkay? Mmmkay.

PwC Once Again Tops Vault Accounting 50 (2020) You’ll Have to Pry Vault’s ‘Most Prestigious Firm’ Title Out of PwC’s Cold, Dead Hands

The post Vault 2020 Firm Rankings: Benefits, Comp, Vacation, and Promotion Policies appeared first on Going Concern.

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lisarprahl · 6 years ago

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3 Ways Millennials Changed the Accounting Industry with Technology

In the age of Instagram influencers and workplace beer gardens, millennials often get an unfair rap for communicating and working differently than their older office peers.

While they may have grown up texting in lieu of talking and “dancing” with headphones at silent discos, like it or not, millennials are now the largest and most prolific voice in the accounting world. And their attitudes and preferences are influencing every part of accounting office culture—particularly when it comes to new technology.

Some say millennials are “lazy.” We say they’re driven, just driven in their own way—a way that includes an insistence on embracing new ways of working. From artificial intelligence, machine learning, and cloud-based computing to project management software and social media platforms, millennials have evolved the accounting industry with technology.

Here are three ways they did it—and continue to do it today.

1. They initiated real-time reporting

By 2020, nearly half of the U.S. workforce will be made up of millennials. And that’s good news for the accounting industry, which needs their energy to spark plateauing firm growth.

Richard Kopelman, CEO and managing partner at Aprio, believes that having a younger, tech-savvy workforce not only benefits clients, but also challenges firms to work smarter through the use of new real-time software and different methods of problem solving.

“We respect and are adapting to how millennials work and how they view things,” Kopelman said. “They have a different engagement level and bring different abilities that greatly contribute to our company.”

And that millennial focus is important, considering more than 90% of businesses now prefer a real-time accountant when dealing with their financial information.

Today’s more progressive firms are transitioning business clients from old-school desktop products like QuickBooks to online software like NetSuite and Xero where they can see their finances in real-time. And millennials are expediting this transition.

Just how beneficial is real-time software? It’s like going from a rotary phone to an iPhone X. No longer is a client stuck wondering about the status of their finances or forced to call their accountant to ask an important question during a sales meeting. (Also, it doesn’t take nearly as long to dial a 9.) Accountants and clients alike are always just a few clicks away from the most up-to-date information.

“It’s not about just doing compliance work anymore,” said Danielle Berg, Aprio chief marketing and communications officer. “Sometime soon, every employee will be able to come into work in the morning and know what’s going on real-time with clients. And that’s really exciting.”

2. They put their heads in the cloud

When Nintendo released its Power Glove roughly 30 years ago, the peripheral was supposed to revolutionize the gaming world. Instead, it bombed under the weight of its ill-conceived lagging hardware that had buyers desperately blowing air into their NES cartridges, hoping for a “fix” that would never come.

Accounting suffered a similar blow in the early 2000s. Firms were counting on emerging technology to help them deliver better service to clients, but the net effect of new tech was a negative one. Technology, along with a healthy dose of corporate consolidation, made it possible for many companies to perform more of their accounting work in-house. As a result, public accounting firms saw business growth begin to stagnate.

Then came millennials to the rescue—helping to revive the industry by moving mobile accounting software and advisory roles to the forefront and achieving the tech-driven higher levels of client service public accounting firms needed to spark new growth.

Much of this evolution is occurring in the cloud, with the average organization investing $1.62 million in cloud computing. While some industry staples continue to stay the course with yesterday’s economics, companies like Aprio understand the massive opportunity the cloud represents. These firms are implementing both public and private cloud technology, training and promoting millennials who know how to use it, and adapting their work styles to take advantage of everything the cloud offers.

With data-entry tasks pushed to automation, the cloud has allowed young accountants to provide clients with more detail-oriented work—at flexible hours—and enables them to easily collaborate with their teams on special projects.

Their heads always in the clouds, proverbially and literally, millennials can provide better client interactions and are setting up their firms for advancement in ways never thought possible 20 years ago.

“The pace of technology is going to make us run fast,” Berg said. “We as a company have to commit to being lifelong learners and understand all the new tech, from real-time to mobile to cloud to remote.”

3. They moved business away from the office

Thanks in large part to millennial interview inquiries, remote accounting jobs are growing faster than ever. That makes some managers nervous, but millennials are alleviating their stress by driving the use of Google Hangouts, Slack, and other mobile software that makes it easier for accountants to effectively work from anywhere.

With its millennial-majority workforce, Aprio has embraced the remote revolution—and that seems to be a good thing for employees and clients alike. Kopelman said the remote option fits hand-in-glove with what many clients are now demanding.

“We’re in a position to accelerate growth and serve that next generation of clients and meet them where they want to be met,” he said. “I think that means we will be more virtual in the future. Our people will be more effective when they work from anywhere rather than being tied down to an office all day.”

Aprio needs forward-thinking accountants like you

Is your employer behind the tech curve? Time and again, Aprio has separated itself from other global firms by committing more resources to cloud accounting, AI/ML, remote work, analytics, and forward-looking insights based on data.

If you want to work at a firm with a progressive approach to technology—where you can improve your skills, advance your career and compensation, enjoy more work/life flexibility, and connect with clients to feel the direct impact of your work—you should consider an accounting job at Aprio. Click one of the links below to apply now.

Remote accounting jobs (work from anywhere)

Remote Implementation Associate

Virtual Ecosystems Solutions Architect

Remote Senior Accountant, eCommerce

Atlanta, Georgia accounting jobs

SALT Associate

Recruiter

R&D Senior Associate

Audit Senior Associate

The post 3 Ways Millennials Changed the Accounting Industry with Technology appeared first on Going Concern.

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lisarprahl · 6 years ago

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Grant Thornton Partner Killed In Car Crash

Some sad news to report, as a partner in Grant Thornton’s New York City office died in a one-car crash in Westport, Conn., on April 14.

Cullen Walsh

Cullen Walsh, 39, was identified by authorities on Tuesday as the person killed in the crash, according to the Westport News.

Shortly before 1 a.m. Sunday morning, first responders found a vehicle, which had hit a utility pole and two trees, fully engulfed in flames. The crash also knocked down electrical wires, the Westport News reported.

Authorities believe that speed and a failure to negotiate the roadway were factors in the accident.

According to his LinkedIn profile, Walsh was a partner in Grant Thornton’s Accounting Advisory Services practice for the past two years.

Before joining Grant Thornton in 2017, Walsh was an assistant director at the FASB, where he was responsible for managing the board’s research agenda, overseeing international monitoring of projects undertaken by other standards-setters, and managing the execution of implementation working groups. From 2011 to 2013, Walsh was a practice fellow at the FASB,

It was during his time at the FASB when Walsh met his future wife, Meredith, who also was a practice fellow.

Walsh spent the first 12 years of his professional career at KPMG, in both Boston and the national office in New York City, as a senior manager in the firm’s audit practice.

According to his obituary, Walsh was known for his compassion and soft smile, as well as his calm demeanor and personality, which put everyone at ease.

A humble and genuinely all-around nice guy and beautiful person, Cullen was a devoted husband, dog lover, an amazing cook and an old soul who loved learning how to dance to big band and swing music, collecting old books and hosting dinner parties with friends and family. He was often the smartest guy in the room and was known for public speaking and problem-solving.

Walsh is survived by his wife, parents, five siblings, and his nieces and nephews.

The post Grant Thornton Partner Killed In Car Crash appeared first on Going Concern.

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lisarprahl · 6 years ago

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Company Culture Feature: Grant Thornton

One of the most important factors that accounting graduates utilize to determine which firm(s) would be the best fit for them after graduation is company culture. Which is why earlier this year we began a series showcasing individual firms, showing what makes them unique in their mission and values to set them apart. In the past few months, we featured an interview with Jim Proppe, Managing Partner at Plante Moran and Jen Wyne, Executive Director of Human Resources at Moss Adams. This month we’re excited to feature Mike McGuire from Grant Thornton.

Grant Thornton LLP is the U.S. member firm of Grant Thornton International, one of the world’s largest independent audit, tax and advisory firms – growing sixfold in 15 years. Mike McGuire, CEO, has worked to instill the passion, curiosity, and fresh thinking that would distinguish Grant Thornton to clients as a firm that goes beyond status quo approaches to do whatever it takes to move clients forward. This has not only increased client quality and satisfaction, but has enhanced brand reputation and improved employee recruitment, engagement, and retention. At the heart of Grant Thornton’s company culture is a “bring your whole self to work” philosophy intended to inspire an atmosphere that empowers the firm’s more than 8,000 employees to be their authentic selves because they know that their unique contributions are valued.

Roger CPA Review: Grant Thornton has been named as one of the “Top Places to Work” in a couple different publications. What is it about your company culture that sets you apart from other accounting firms?

Mike McGuire: We decided about six years ago that we wanted a single, unifying culture for our firm, and that we would be very deliberate and thoughtful in creating it. We hired Senn Delaney, the firm that really created the corporate culture industry, to help guide us. We’ve invested in our culture work consistently, with time and budget. That commitment, from the top and through the organization, has brought our culture to life in a way that’s different from other firms. It’s about collaborating, respecting and supporting each other so we can deliver quality and innovative solutions to our clients.

RCPAR: Where does Grant Thornton draw its company culture inspiration from? How much do you take into consideration employee feedback and generational differences?

MM: One thing we’ve learned is that we need a clear vision and strong leadership to build culture, but we can’t impose culture on people. Culture is strong when it grows organically. We have a shared set of values, and a shared language about behaviors that reinforce the culture we want. But every day, the culture grows when leaders and teammates throughout the firm make it real in the way we work together and treat each other.

RCPAR: Grant Thornton has also been listed as one of the best companies for working mothers. Can you please share specific strategies and initiatives that have resulted in this recognition?

MM: We have a generous benefits package to support new moms and dads. But more than that, we take a really flexible approach with all our people. Everyone has their own complications in life, and we’re very proactive in helping people find the best ways to balance taking care of business at work and at home. For example, our Flexible Time Off policy lets people take time off work without counting days. The policy is, simply, be responsible for getting your work done and adding value, and take the time off you need to balance your life.

RCPAR: To what level does diversity play a role in enabling the firm to thrive? For other companies or organizations looking to incorporate diversity in a more prevailing way, what would your best piece of advice be?

MM: My experience is that teams are at their best when everyone has a chance to play and contribute and thrive. We create better solutions for our firm and for clients when we have diverse voices in the room – whether that’s diversity of background, gender, race/ethnicity or any other kind of diversity. Diversity and inclusion are cornerstones of our culture, and we support them in a lot of ways. We have Business Resource Groups that provide support and networking opportunities for teammates. We host “Fearless Conversations” to build awareness and understanding about teammates’ diverse experiences and perspectives. And we’re in the process of developing a series of development opportunities about “unconscious bias,” to help us all better understand how to listen and learn from one another, and work together to achieve the best results. My advice is, if you want the best team, and you believe diversity and inclusion are part of that, it’s like any other business goal: You have to be deliberate, have a plan, focus and execute.

RCPAR: How has your culture and all of the above accolades and initiatives translated to your client serving success?

MM: This is the most incredible thing to me. We started our culture program for ourselves. But it turns out, no one appreciates it more than our clients. They notice that we show up differently from other firms. They see that we’re better at collaborating, that our people are more curious about their business, that we offer more creative solutions to their business challenges. I’ve had clients tell me that they will give Grant Thornton their business on the condition that we come and talk to them about culture. That tells me all I need to know.

RCPAR: If you could sum up Grant Thornton’s company culture in one word or phrase, what would it be and why?

MM: Our rallying cry in the market is, “Status Go!” That means we don’t settle for the status quo – we’re always pushing each other to be curious and creative, to innovate, to find a better way to do things – for our firm and our clients. That’s what our culture is about – achieving our aspiration to be the “firm of the future” by collaborating and supporting each other so we can do our best work together.

***

Special thanks to Mike McGuire for the time he took for this interview about company culture at Grant Thornton.