- Ledger Lowdown
- Posts
- KPMG cut 10% of U.S. audit partners
KPMG cut 10% of U.S. audit partners
just added the borders
I share the 4-5 most important accounting that actually matter. I scroll so you don’t have to.
So grab your coffee, take a quick break, and lets catch up.
In this issue:
KPMG cut 10% of its U.S. audit partners
Accounting firms are drowning in AI vendor hype
$100 bills are quietly taking over American cash
- Ledger Lowdown Team
WTF of the Day🤯
Even KPMG Partners Are Getting Cut Now
KPMG just laid off 10% of its U.S. audit partners. Not staff. Partners. About 100 people are out after too few took the early retirement offer. KPMG says the business is strong and this isn’t performance related, which is corporate speak for: we had too many expensive people at the top.
That matters because partner cuts hit different. KPMG already cut U.S. audit staff last year, U.K. audit staff last month, and advisory in 2023. So the story isn’t “KPMG is collapsing.” It’s that even the safest seats in public accounting aren’t as safe as they used to be.
Speak the email. Send the email.
Talk through your reply and get polished, professional text ready to paste. Wispr Flow strips filler, fixes grammar, and formats everything. 89% sent with zero edits. Works everywhere.
What’s poppin in accounting🍿
Stop Buying AI Demos
Accounting firms are getting buried in AI pitches right now. Every vendor says they’ll save you 50% of your time, fix your workflows, and turn your firm into a tech company by Tuesday. Smart firms are doing the boring thing instead, testing tools with real users, real data, and real KPIs before buying anything.
The rule is simple: start with the business problem, not the shiny demo. If a tool doesn’t save time, integrate with your stack, improve a client outcome, or beat what you can already do with ChatGPT or Claude, don’t buy it. The firms that win here won’t be the ones with the most software. They’ll be the ones with the best filter.
Weekly Trend Chart 📊
Volume Of $100 Bills Has Doubled In Last Decade
New York just made it illegal for most food stores and retailers to refuse cash. Which feels weird in a world where everyone taps their phone to buy coffee, but it makes sense when you see the numbers. A survey found 84% of Americans don’t want a cashless society. We like Apple Pay. We like convenience. But people still want a backup when the terminal breaks, the battery dies, or a business tries to make every transaction digital.
Cash is still used in 14% of U.S. consumer payments. And the strange part is which bills are growing fastest. There are now almost 20 billion $100 bills in circulation, more than $1 bills. A lot of those hundreds are held overseas because when the world gets unstable, people still trust U.S. dollars.
Meme of the Day😂
😂