Wednesday, June 10, 2009

Wild Speculation Wednesday

The Radio Station is cutting positions in the tax practice in the United Kingdom, according to AccountancyAge:

An industry source said that a couple of hundred jobs could be cut. A spokesman for KPMG confirmed that the firm planned to cut jobs in its UK tax practice, but declined to give a likely figure for job cuts. He said that it was still consulting staff.

Sooo, this obviously leads us to wildly speculate that the U.S. tax practice is probably next.

A source also tells us there was mention in a Transaction Services (TS) meeting today that M&A activity is down 60% year over year. If true, this is considerably worse than what the firm put out back in January, possibly putting more TS professionals in the crosshairs.

KPMG to cut jobs in tax
[AccountancyAge] Sphere: Related Content


  1. The UK is the UK, the US the US. Since nothing in life is more certain than Death and Taxes, and well of course with the growing complexity of the tax system especially with all the new wonderful tax credits to shower down from the Obama Administration. For example, the going green tax credits for installing say solar panels on your home or wind turbines in your backyard. I would say Tax services would be a growing sector. Let's not also leave out the subtle FIN 48, which is by no means a SARBOX generator but lets face it, controllers don't keep up on many new FASB preachings as they should. And FIN 48 is something they would rather flub, and let the auditors do the clean up. If I had a comfy controller slot, I would do the same, for my only worries would be my month end reports and that I had no breaks that would require escalation over control processes I owned.

  2. Tramp,

    I figured out why I do not comment on your blog. It sucks, not the content but the actual blog platform. Its painstaking, I actually have to log in first, what if I wanted to post anonymously. Also the auto spell check feature which is just automatic in FireFox is disabled. And most important of all, even if I did comment, all it just shows at the bottom of a post is comment:1. It would be nice to see somewhat of an actual running commentary below the posting. Of at least the most recent 2/3 comments. I feel it would drive more people to actually post, also make it easier for others to see a comment, and comment on the comment. Dealbreaker comes close, its easy on the eyes with its comments. Also, I wonder if they might consider changing they're name. Since there are no deals, and well now the definition according to 30 Rock is "Dealbreaker - Nancy Pelosi, noun, person" etc etc etc

    And the dang word verification, those things are soooooooo annoying.