KPMG

The residential landlord with thousands of properties across Germany has been under intense public scrutiny since October 2021.

Like other firms, KPMG has been battling a fall in demand for its services caused by the tougher economic climate.

Artificial intelligence will eliminate vast swaths of the repetitive, time-consuming tasks that typically filled up junior staffers' first few years on the job.

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Armanino adds tax managed services offering; Leo Berwick hires four practice leaders; and more news from across the profession.

The rising popularity and use of generative AI since it recently exploded on the scene has not abated. Indeed, recent polls show it is rising.

The real estate company has been trying to hire a new auditor since its previous one, KPMG, quit in May last year.

The telecommunications company replaced Deloitte as its auditor with KPMG International. The decision was questioned by shareholders.

"These findings are damning," Jon Holt, CEO of KPMG in the U.K., said. "It is clear to me that our audit work on Carillion was very bad."

Other Big Four firms are also introducing cuts in the U.K. after a period of over-hiring during the pandemic.

The Big Four firms are doing a full court press on AI, aiming to integrate it into virtually all of their service offerings.

KPMG employees donated their time to over 475 nonprofits for the firm's second Community Impact Day, an annual volunteer day of community service.

The four largest firms are squarely on 'Team Human' when it comes to artificial intelligence — and don't believe the tech is even at a level where it can take over all of a human's job.

With increasing demands for sustainability reporting and climate-related disclosures, companies pursuing deals need to vet their potential targets more closely.

This summer, the Big Four firm launched a three-week paid internship focused on introducing high school students to accounting careers.

Plus, AuditFile relaunches Advantage Audit as AuditFile Advantage Audit AI; Justworks releases Justworks Payroll; and other accounting technology news.

At its height, the German landlord had a market cap of €3.4 billion; after a series of scandals, it is now worth just €74 million.

KPMG is reducing headcount further after earlier layoffs this year, cutting approximately 5% of its U.S. employees.

Australian senators on Wednesday will set their sights on KPMG in a growing probe of conflicts of interest and ethical lapses in the government's use of consultants.

A recent KPMG poll found that executives believe the use of generative AI holds great promise for organizations, but great risk for the workers within them, as it will likely reduce job security.