StephenFoleyFT's Avatar

StephenFoleyFT

@stephenfoleyft.bsky.social

US accounting editor, Financial Times www.ft.com/stephen-foley

2,202 Followers  |  158 Following  |  102 Posts  |  Joined: 27.11.2024  |  2.1009

Latest posts by stephenfoleyft.bsky.social on Bluesky

Preview
Deloitte to pay $34mn over audit work on US nuclear fiasco Former shareholders in utility said Big Four firm failed to spot red flags and allowed management to hide mounting issues

Deloitte to pay $34mn over audit work on US nuclear fiasco

Former shareholders in South Carolina utility said firm failed to spot red flags and allowed management to hide mounting issues
www.ft.com/content/f9fc...

17.10.2025 20:37 — 👍 3    🔁 2    💬 0    📌 0
Preview
The secretive First Brands founder, his $12bn debt and the future of private credit Patrick James borrowed billions — even after presiding over a string of failed businesses

The secretive First Brands founder, his $12bn debt and the future of private credit
www.ft.com/content/8373...

15.10.2025 14:58 — 👍 1    🔁 0    💬 0    📌 0
Preview
Chris Hohn’s foundation blames ‘policy environment’ as it stops giving to US charities Billionaire hedge fund manager’s CIFF has focused donations on issues such as climate change

The Children’s Investment Fund Foundation (CIFF) said it was pausing donations until authorities clarified the “applicable laws and rules” related to the foreign funding of US NGOs.
www.ft.com/content/b87f...

10.10.2025 16:15 — 👍 1    🔁 0    💬 0    📌 0
Preview
EY narrows US leadership race to three candidates Big Four accountancy firm tries to move past turmoil triggered by abandoned split

EY narrows US leadership race to three candidates on.ft.com/3IVouKi

06.10.2025 19:35 — 👍 7    🔁 1    💬 0    📌 0
Preview
Consultancies must become software companies to survive AI boom, IBM executive says Industry hopes artificial intelligence implementation will reverse two-year period of sluggish growth

“The future of consulting is going to be a hybrid of people plus software — like, a lot of software.”

Consultancies must become software companies to survive AI boom, says IBM executive
www.ft.com/content/8535...

07.10.2025 14:56 — 👍 3    🔁 1    💬 0    📌 0
Preview
UK accounting watchdog to ease its probes of audit firms FRC’s proposals follow sustained complaints from the industry about lengthy investigations

Big 4 getting a reprieve on both sides of the Atlantic, it seems.

www.ft.com/content/e0ce...

01.10.2025 13:33 — 👍 2    🔁 2    💬 0    📌 0
Preview
Deloitte’s global revenue growth picks up despite sluggish performance in Europe Big Four accounting firm reports robust demand for its advice to companies on strategy

Deloitte’s global revenue growth picks up despite sluggish performance in Europe www.ft.com/content/77f7...

01.10.2025 00:23 — 👍 1    🔁 0    💬 0    📌 0
Preview
Deloitte UK’s revenues fall for first time in 15 years But partners’ payouts rise to £1.05mn each as the Big Four accounting firm embarks on cost cutting

Deloitte’s UK business just reported its first decline in annual revenue in 15 years, but partner payouts increased as the firm cut costs.

www.ft.com/content/d3aa...

29.09.2025 23:18 — 👍 1    🔁 0    💬 0    📌 0
Preview
Grant Thornton US buys sister firms in France, Spain and Belgium PE-backed North American business beats UK rival to consolidate global accounting network

Grant Thornton’s private equity-backed US business has agreed to buy sister firms in France, Spain and Belgium, dealing a blow to its UK rival in their battle to consolidate the world’s seventh largest accounting network.

www.ft.com/content/63fa...

29.09.2025 14:47 — 👍 0    🔁 0    💬 0    📌 0
Preview
Accenture to ‘exit’ staff that cannot be retrained for age of AI Group details $865mn restructuring programme and outlook reflecting sluggish corporate demand for consulting projects

“We are exiting on a compressed timeline people where reskilling, based on our experience, is not a viable path for the skills we need.”
$ACN
Accenture cuts workforce by 11,000, targets staff that cannot be retrained for age of AI
www.ft.com/content/a74f...

25.09.2025 16:58 — 👍 2    🔁 0    💬 0    📌 1
Preview
BCG to train staff on ‘humanitarian principles’ after Gaza outcry Consulting group revamps internal processes after condemnation for work on Palestinian relocation proposal

BCG to train staff on ‘humanitarian principles’ after Gaza outcry www.ft.com/content/a02f...

18.09.2025 11:54 — 👍 4    🔁 1    💬 0    📌 0
Preview
SEC allows public companies to block investors from class-action lawsuits Chair Paul Atkins pledges to ‘make IPOs great again’ as US regulator fulfils deregulation drive

"Make IPOs great again." And make the plaintiffs bar sweat.

SEC allows public companies to block investors from class-action lawsuits.
www.ft.com/content/5a41...

17.09.2025 21:54 — 👍 1    🔁 0    💬 0    📌 0
Preview
PwC UK cuts jobs as revenue growth slows sharply Big Four firm forced to take ‘tough decision to reduce roles in some areas’ amid slowdown following pandemic-era boom

PwC’s Middle Eastern growth engine has stalled, according to figures just out in the UK

www.ft.com/content/4846...

17.09.2025 11:12 — 👍 2    🔁 0    💬 0    📌 0
Preview
Aspiration Partners’ collapse leaves trail of losses from Hollywood to Wall Street Fintech lured investors with progressive causes but now faces scrutiny over payments to basketball star

"Aspiration’s failure is the result of loose underwriting standards colliding with the celebrity affinity for social justice efforts, creating conditions for a financial debacle."
Story by @sindap.bsky.social
www.ft.com/content/ec3e...

11.09.2025 14:32 — 👍 1    🔁 0    💬 0    📌 0
Preview
Cinven takes majority stake in Grant Thornton Germany Deal comes less than a year after private equity group bought into accounting network’s UK business

Grant Thornton Germany picks UK over US as accounting network consolidation accelerates

www.ft.com/content/4f44...

10.09.2025 11:27 — 👍 0    🔁 0    💬 0    📌 0
Preview
The last interview with Giorgio Armani In an exclusive conversation published the weekend before his death, the designer looked back at five decades in business, while friends including Richard Gere, Donatella Versace and Renée Zellweger p...

www.ft.com/content/c133...

04.09.2025 13:30 — 👍 3    🔁 1    💬 0    📌 0
Preview
Why it’s time to consider shorts in the office It’s getting hotter — and men need to rethink the way they dress for work

"When people talk about decline in this country, this article is what they mean."

⬆️Most recommended comment on this piece by @robarmstrong.bsky.social, in which he argues it's time to consider shorts in the office
www.ft.com/content/183d...

13.08.2025 16:03 — 👍 12    🔁 3    💬 2    📌 1
Preview
‘Traffic-light’ dashboard lets PwC monitor office attendance Big Four firm checks building pass swipes and WiFi connections to address ‘persistent and deliberate non-compliance’

Meanwhile, over in the UK…

Traffic-light’ dashboard lets PwC monitor office attendance ft.com/content/0aa1...

13.08.2025 13:55 — 👍 2    🔁 0    💬 0    📌 0
Preview
Bain & Co shuts South Africa consulting business after corruption scandal Advisory group’s Johannesburg office to become ‘a services hub supporting global operations’

Bain & Co shuts South Africa consulting business after corruption scandal www.ft.com/content/cdbd...

29.07.2025 10:58 — 👍 3    🔁 2    💬 0    📌 0
Preview
McKinsey bars China practice from generative AI work amid geopolitical tensions Consulting firm’s move follows scrutiny from Washington over US companies’ involvement in sensitive Chinese sectors

McKinsey bars China practice from generative AI work amid geopolitical tensions.
www.ft.com/content/9907...

23.07.2025 12:49 — 👍 1    🔁 0    💬 0    📌 0
Preview
Chief US audit regulator pushed out by Trump’s new SEC chair Erica Williams told staff at the Public Company Accounting Oversight Board that Atkins asked her to resign

BREAKING: Public Company Accounting Oversight Board (PCAOB) chair Erica Williams is OUT. Paul Atkins, chair of the Securities and Exchange Commission, asked her to resign and her last day will be July 22.

www.ft.com/content/8167...

15.07.2025 20:31 — 👍 0    🔁 0    💬 0    📌 0
Post image

Inspired by FT commenter Cassandrama
www.ft.com/content/aa27...

25.06.2025 19:15 — 👍 2    🔁 0    💬 0    📌 0
Preview
Big Four firms fined in new exam cheating scandal Dutch arms of Deloitte, PwC and EY pay total of $8.5mn after ‘hundreds’ of staff shared answers on internal tests

The Netherlands this time.

Big Four firms fined in new exam cheating scandal www.ft.com/content/aa27...

25.06.2025 15:38 — 👍 2    🔁 0    💬 1    📌 0
Post image

Have questions on the market, inflation or the 'Taco trade'? Unhedged's Robert Armstrong wants to hear from you.

Join him on Reddit today for an 'Ask Me Anything': on.ft.com/44snQMc

23.06.2025 14:03 — 👍 14    🔁 4    💬 1    📌 1

PCAOB and CFPB also reprieved. Story above is w/ @kateduguid.bsky.social & Stefania Palma

20.06.2025 18:37 — 👍 0    🔁 0    💬 0    📌 0
Preview
US Republicans’ plan to eliminate audit watchdog violates Senate rules Ruling deals blow to the party’s deregulatory agenda as it works to pass its tax and spending bill

Did the Senate parliamentarian just save the credit markets?

She's nixed a 'big beautiful bill' measure that would have defunded the Office of Financial Research. Its data underpins SOFR, the interest rate used for $$trillions of debt.

So, phew, I guess.
www.ft.com/content/f577...

20.06.2025 18:36 — 👍 2    🔁 1    💬 1    📌 0
Preview
BCG pitched to UN before helping rival Gaza aid plan Consulting group offered pro bono work to UNRWA shortly after Israel’s military campaign began in late 2023

BCG pitched to UNRWA before helping rival Gaza aid plan www.ft.com/content/d5fe...

18.06.2025 12:48 — 👍 2    🔁 1    💬 0    📌 0
Preview
Era of Bund scarcity is over, says German debt chief Finance agency board member points to major change in Eurozone’s core sovereign bond market

ABundance Agenda?

Era of Bund scarcity is over, says German debt chief
www.ft.com/content/9765...

17.06.2025 13:15 — 👍 0    🔁 0    💬 0    📌 0
Preview
Accountants and lawyers team up to fight Trump tax provision Professional services groups say they are unfairly targeted in Republicans’ ‘big, beautiful bill’

Accountants and lawyers team up to fight Trump tax provision www.ft.com/content/9395...

15.06.2025 13:48 — 👍 0    🔁 0    💬 0    📌 0
Preview
Former McKinsey partner jailed for deleting emails on US opioid work Martin Elling to serve six months in prison after admitting to destroying documents related to efforts to boost sales

Former McKinsey partner jailed for deleting emails on US opioid work www.ft.com/content/5e76...

22.05.2025 23:04 — 👍 2    🔁 0    💬 0    📌 1

@stephenfoleyft is following 20 prominent accounts