FRC: The inspection results at BDO and Mazars remain unacceptable

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JRSB
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Re: FRC: The inspection results at BDO and Mazars remain unacceptable

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In the UK , BDO is #5, and is much bigger than #6, so is often the only option other than Big4. But they're not getting rid of enough existing clients. Guess the partners like their profits too much to worry about impacts on quality!
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Marek Muc
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Re: FRC: The inspection results at BDO and Mazars remain unacceptable

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Mazars also said that
As a profession we are currently faced with a very challenging employment market, due to both the reduction in the pool of available talent following Brexit and a perceived lack of attractiveness of the profession.
What's your perspective on this matter?
JRSB
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Re: FRC: The inspection results at BDO and Mazars remain unacceptable

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I'd guess that Mazars have a history of bringing over French staff, given their heritage, but I'm not aware of a deluge of EU workers in the UK audit market....

As for not being an attractive career, those big firms I think trade on reputation in terms of recruiting but the model of constantly having more work than the staff can deal with (hence high hours...) doesn't cut it when people have realised they like doing other things. So to a lot of people the money is irrelevant, even though that's going up.

Working on audits is inherently problematic in the sense that the job either goes to plan, or badly - there's no upside really (I don't know if clients would applaud a brilliant audit) because everyone know the outcome before you even start, unless it's bad. Whereas in consulting you can feel more that you're making a difference.

Chuck in stressed partners and the risk of being publicly named and shamed if it goes wrong.

Just a perspective.
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Marek Muc
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Re: FRC: The inspection results at BDO and Mazars remain unacceptable

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I love the way you summarised it! :)
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