Stephen Foley | Financial Times

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Tuesday, 6 December, 2022

KPMG International
KPMG staff cheated on professional tests, US regulator says
Fines from oversight board total $7.7mn in actions against accountant’s networks in the UK, Colombia and India
Tuesday, 6 December, 2022

FT News Briefing podcast10 min listen
Could the 4-day work week…work?
PwC to take advantage of uncertainty at EY by poaching some of its rival’s senior executives
Tuesday, 6 December, 2022

Special purpose acquisition companies
Spacs confess to accounting weaknesses as year-end audits loom
49% of a sample of companies that went public in the cash shell boom had material flaws
Sunday, 4 December, 2022

PwC
PwC targets rival EY in bid to expand partnership
Big Four firm says it has capacity to take up to 500 ‘direct admit’ partners in US
Wednesday, 30 November, 2022

FT WealthInvestments
Why ‘buy, borrow, die’ tax strategy could become ‘buy, borrow, pray’
Peloton’s share slump, making things ugly for founder John Foley’s personal finances, is a cautionary tale for the ultra-rich
Monday, 28 November, 2022

News in-depthCryptocurrencies
Nervous auditors re-examine crypto clients after FTX collapse
Collapse of Sam Bankman-Fried’s company highlights risks in industry where accounting rules are only half-formed
Sunday, 27 November, 2022

EY
EY attempts to smooth path to vote on radical break-up
Big Four firm to form committee to handle minutiae of split
Thursday, 17 November, 2022

EY
EY split threatens to weaken both sides of firm, say retired partners
Memo with more than 150 signatories questions leadership of global chief executive Carmine Di Sibio
Monday, 14 November, 2022

Tyson Foods Inc
Tyson Foods launches board review over new CFO’s arrest
John Randal Tyson charged with public intoxication and trespassing after he was found asleep in woman’s bed
Monday, 14 November, 2022

US inflation
Regulator demands more details of inflation impact on US companies
SEC concerned that some financial reports gloss over effect of rising prices on profits and liquidity
Monday, 14 November, 2022

EY
EY timetable slips for voting by partners on break-up
Legal document covering how assets, liabilities and people will be split still being finalised
Sunday, 13 November, 2022

News in-depthFTX Trading Ltd
FTX collapse puts its auditors in the spotlight
Armanino and Prager Metis face scrutiny over Bankman-Fried’s bankrupt crypto empire
Monday, 7 November, 2022

Accounting & Consulting services
US accounting industry split on taking private equity cash
BDO, Grant Thornton and Marcum among firms to have explored deals as new capital fuels M&A boom
Monday, 31 October, 2022

Deloitte LLP
Deloitte picks US boss as global leader amid Big Four upheaval
Joe Ucuzoglu to take over as accounting firms debate how to respond to EY break-up plan
Sunday, 30 October, 2022

InterviewFinancial Accounting Standards Board
US accounting standards boss hits back at critics over pace of rulemaking
FASB chair Rich Jones says it is important to listen to many stakeholders
Tuesday, 25 October, 2022

EY
EY Israel rejects break-up plan pushed by global bosses
Local partners of Big Four firm join China in deciding not to split consulting and audit businesses
Thursday, 20 October, 2022

KPMG LLP
KPMG flunks US overseas audit inspections twice as often as rivals
Regulator finds deficiencies in 55% of sampled work by Big Four firm’s non-US offices
Monday, 17 October, 2022

EY
EY’s US partners flouted conflict of interest rules, regulator says
Auditor’s own spot checks in 2018 found one in three failed to make proper financial disclosures
Monday, 17 October, 2022

Workplace diversity & equality
Deloitte tops Big Four for racial diversity of US workforce
Accounting firms have put inclusion of women and people from minority groups at heart of recruitment drive
Thursday, 6 October, 2022

ReviewBusiness books
When McKinsey Comes to Town — inside the global consulting giant
NYT journalists Walt Bogdanich and Michael Forsythe deliver an exposé of the controversies that have dogged the storied firm
Wednesday, 5 October, 2022

Accounting & Consulting services
Global accounting firms warned over use of local affiliates
Flawed audits more likely to be found at overseas arms, says US regulator
Monday, 3 October, 2022

PwC
PwC sees opportunity to poach staff during EY split
Big Four firm expects to attract senior managers unsettled by rival’s break-up of accounting and consultancy
Monday, 3 October, 2022

Accounting & Consulting services
Accountants work to shed ‘boring’ tag amid hiring crisis
Numbers taking university courses and professional exams have tumbled in the US
Thursday, 29 September, 2022

Deloitte LLP
Deloitte UK partner pay rises further past £1mn
Big Four auditor reports ‘exceptional’ year for corporate advice but warns of looming economic headwinds
Thursday, 29 September, 2022

Deloitte LLP
Deloitte China allowed clients to do own audit work, finds SEC
Regulator charges Big Four firm affiliate $20mn for falling ‘woefully short’ of standards