The latest edition of Footnotes, a collection of stories from the accounting profession, highlights a major split risk for consulting giants triggered by a PwC scandal in Australia. Recommendations from a parliamentary inquiry include operational separation of audit businesses and limitations on services offered to clients. PwC has also been accused of interfering in investigations into the tax leaks scandal in Australia. Meanwhile, national accounting firm Withum quadruples its Boca Raton office size to accommodate a growing client base, while Fruci & Associates adopts flexible schedules to attract talent and ease recruiting efforts.
In talent news, experienced technology leader Michael Kempe joins Grant Thornton as CIO, and Accountingfly offers remote accounting candidates for hire. In legal matters, Clark Hill wins a case for an accounting firm in a tax dispute with a rock band member, and Deloitte faces an ERISA lawsuit from a spinal specialist. The PCAOB revokes the registration of a Chinese firm for repeated violations, and furniture company Lovesac settles an accounting violation suit with the SEC.
In academia, the Deloitte Foundation honors the late Guy Moore with an endowment at the Patterson School of Accountancy. The EU’s exploration of an AI tax is discussed, and EY advises companies on preparing for major tax legislation in 2025. For more stories and updates on the accounting profession, subscribe to Footnotes.
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