The four big accounting firms are "operated as candy stores for their partners"

& # 39; Sweetie shops & # 39 ;: former KPMG partner Clive Hyman warned about a & # 39; broken culture & # 39;

The four big accounting firms are "operated as candy stores for their partners"

Alex Hawkes for the mail on Sunday

The four big accounting firms are running like & # 39; stores of sweetness & # 39; for the partners and the reduction of costs has eroded the quality of the audits of large companies, it was affirmed last night.

Clive Hyman, a former partner at the leading audit firm KPMG, which has been at the center of a series of scandals, said that lower-ranking personnel were suffering due to poor management decisions.

He told The Mail on Sunday: "The horror stories emerge from the fact that the troops have to work all night in audits where no precious planning has taken place and it is inhuman to hear it." For this to be a regular occurrence, he admits. a broken culture and abuse of staff & # 39;

& # 39; Sweetie shops & # 39 ;: former KPMG partner Clive Hyman warned about a & # 39; broken culture & # 39;

& # 39; Sweetie shops & # 39 ;: former KPMG partner Clive Hyman warned about a & # 39; broken culture & # 39;

Hyman left KPMG in 2005 and now runs the corporate finance firm Hyman Capital.

His comments come amid widespread criticism of the Big Four: KPMG, PwC, Deloitte and EY.

The Financial Reporting Council reprimanded KPMG in June for an "unacceptable deterioration" in the quality of its audits.

The deputies called for the disintegration of large companies after the collapse of Carillion.

Hyman said that the Big Four have been reducing costs each year by at least 10 percent and added: "There comes a time when the business becomes too poor to remain effective.

"The big four run like a series of candy stores with the booty that is divided each year in a unique idiosyncratic manner."

KPMG, PwC and Deloitte refused to comment. EY did not respond to requests.

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