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    Stephen Foley

    US Accounting Editor

    Stephen Foley covers the accounting industry in the US, including the activities of the Big Four and accounting issues across corporate America. Since joining the Financial Times in 2012, he has been a markets correspondent, US investment correspondent and deputy US news editor, as well as having spent a year on secondment as Business Editor of Nikkei Asia, an FT sister publication.
    Email Stephen Foley @stephenfoley  on Twitter (link opens in a new browser window)

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    • Friday, 17 November, 2023
      Accountancy
      EY’s Janet Truncale: Project Everest survivor with a mountain to climb

      The first woman to become global chief of a Big Four firm faces the challenge of uniting it

    • Wednesday, 15 November, 2023
      EY
      EY picks Janet Truncale as the first woman to lead a Big Four firm

      Promotion of Americas financial services head follows failed plan to split off consulting arm

      EY’s Janet Truncale
    • Wednesday, 15 November, 2023
      US financial regulation
      Accounting firms hit with record US fines over audit failures

      PCAOB imposes total penalties nearing $12mn against PwC, Deloitte, KPMG and others

      Erica Williams, chair of the Public Company Accounting Oversight Board
    • Wednesday, 15 November, 2023
      Accounting & Consulting services
      Mazars to combine US business with Forvis

      Accountancy firms to join up in America in latest sign of industry consolidation

      Mazars’ base in Manhattan
    • Monday, 13 November, 2023
      EY
      EY executives clash over mandatory retirement age in leadership race

      Some partners are worried that 57-year-old Andy Baldwin could not serve a full term if he succeeded Carmine Di Sibio

    • Friday, 10 November, 2023
      EY
      EY aims to shake up US audit business after ‘unacceptable’ number of flaws

      Big Four firm says deficiency rate soared to 46% in annual inspections

      An EY logo on one of its offices
    • Sunday, 5 November, 2023
      Management consulting
      Consulting firms freeze US starting salaries in bid to shore up profit

      McKinsey and BCG among those holding pay at last year’s levels as growth slows

      Montage showing logos of Boston Consulting Group, McKinsey and Company, Bain and Company
    • Friday, 3 November, 2023
      PwC
      Mohamed Kande, the engineer turned consultant rising to PwC’s top

      Kande will be the first consultant and first black leader to run the Big Four firm

      Montage of Mohamed Kande with a pwc background
    • Monday, 30 October, 2023
      PwC
      PwC picks Mohamed Kande as global chair

      Selection by global board was revealed to partners on Monday

      Mohamed Kande
    • Thursday, 26 October, 2023
      FT WealthInvesting in funds
      Simplicity is key to avoiding a gap in investment returns

      Exotic strategies . . . in real life confound investors into costly mistakes

      photo of a person about to enter a train. The words ‘mind the gap’ is on the train platform
    • Monday, 23 October, 2023
      PwC
      PwC revenue growth lags behind Big Four rivals

      Accounting and consulting firm brought in record $53.1bn even as business slowed in latest financial year

      Bob Moritz, global chairman of PWC, during a panel session on the opening day of the World Economic Forum
    • Wednesday, 18 October, 2023
      News in-depthPwC
      PwC succession twist followed debate on management style

      Tim Ryan’s decision to retire breaks convention of US leaders ascending the ranks to run the global network

      People enter a PwC office
    • Friday, 13 October, 2023
      PwC
      PwC’s US boss to quit as race to lead Big Four firm accelerates

      Tim Ryan had been tipped as a potential successor to Bob Moritz as global chair

      A PwC logo on one of its offices
    • Tuesday, 10 October, 2023
      Deloitte LLP
      Deloitte US staff paid bigger share of revenue after hiring battle

      Big Four firm is now seeking to cut costs as demand for consulting work recedes

      The Deloitte logo on top of a building
    • Sunday, 8 October, 2023
      EY
      EY finance chief left after failure of spin-off plan

      Jamie Miller was in the role at the Big Four firm for less than six months

      Montage of chart and EY sign on building
    • Friday, 29 September, 2023
      EY
      EY sets up six-way race to lead firm after break-up failure

      Shortlist for global role includes executives from US, Canada and Europe

      EY sign on a building
    • Wednesday, 27 September, 2023
      PwC
      PwC Australia’s culture attacked in tax leak scandal report

      Partners overlooked rule-breaking by ‘rainmaker’ colleagues in pursuit of revenue growth, independent assessment shows

      PwC logo
    • Sunday, 10 September, 2023
      PwC
      PwC to curtail consulting work for US audit clients to reduce conflict risk

      New independence policies are challenge to other Big Four accounting firms

      The PwC logo
    • Thursday, 7 September, 2023
      Deloitte Touche Tohmatsu LLC
      Deloitte extends Big Four lead with $65bn in annual revenue

      Consulting and accounting firm’s results buoyed by ESG work despite M&A slowdown

      Deloitte offices in London
    • Thursday, 7 September, 2023
      KPMG LLP
      KPMG halves pay for US partners on gardening leave amid poaching war

      Move sets accounting firm apart from Big Four rivals as competition for talent intensifies

      A KPMG logo
    • Wednesday, 6 September, 2023
      Accounting & Consulting services
      US accounting profession rethinks entry rules amid staffing crisis

      South Carolina joins Minnesota in rebellion over need for five years of higher education

      Bob Cedergren, chair of the Minnesota Society of CPAs
    • Thursday, 31 August, 2023
      FT WealthExchange traded funds
      Little evidence that a spot bitcoin ETF would expand the market

      BlackRock’s application and Grayscale’s court victory stirred the crypto world, but such investment vehicles look very vanilla

      Reception desk of BlackRock seen through the window from outside
    • Wednesday, 16 August, 2023
      EY
      EY rejects TPG plan to break up firm

      US buyout group had proposed to take stake in consulting arm

      Montage of the logos of EY and TPG
    • Tuesday, 15 August, 2023
      EY
      TPG approaches EY about buying stake in consulting arm

      Deal with private equity group would allow Big Four firm to revive break-up plan

      The EY company logo at their headquarters in London
    • Monday, 14 August, 2023
      Accountancy
      UK auditing firm charged by SEC over Nasdaq listing failures

      Crowe UK missed fake agreements and fabricated letters in Akazoo records before music streamer was acquired by a Spac vehicle

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