Life of an auditor

By Kevin Reed Accountancy Age 15 May 2008 KPMG is to shed around 90 staff from its corporate finance and transaction service teams in the first concrete sign of the damaging effects of the credit crunch. The move will send chills through the transactions departments of other firms. The lack of deals means corporate financiers are not in strong demand. KPMG has not formally announced the number of redundancies. A spokesman confirmed there had been ‘a number’ of job losses in the two divisions. ‘This is related to market conditions that we and other organisations are encountering.’ There were currently no other plans to cut posts, he said. The firm had announced strong performance in both corporate finance and transaction services in 2006/2007, growing 16% and 25% respectively. Last year’s numbers would not have reflected the credit crunch greatly, however, with the firm’s year end in September. The last major wave of job cuts in the firms followed the collapse of Andersen and a market d...

This is to address a posted question here..."do people ever get fired or let go from Big 4and for what reasons?" Fired - Yes, people do get fired, and this is pretty much for the same reasons anyone gets fired from a company. Wrongdoings, Extended unexplained absences, etc. I know of a person who got fired for being "caught in the act" at work. If I were to go into it in detail, this would turn into an adult entertainment blog. Another kid got fired for complete disrespect of authority. And there are quite a few other instances that led to different firings at the big 4. Layoffs - Now this is where it gets interesting. For my firm for example, it really depends on the region. In some regions, there are a decent amount of clients and the firms are desperate for people, like in the east coast of the US. In some regions, like the southern states, layoffs have occured due to a lack of enough clientele to keep them busy through the year. The new term that hr uses nowaday...