Beancounter bonanza
Filed in archive Accounting by leon on September 7, 2007
For the last two years, I have been talking about how Sarbanes-Oxley has been a licence to print money for the accounting profession.
Examples are here and here.
And now the latest Rosenberg MAP survey, reported here, shows the trend continues, onwards and upwards. For the big firms, fees increased 11.4 per cent, and average income per partner went up from $311
,000 in 2005 to $350,000 in 2006, a handy 12.5 per cent pay rise.Some other interesting findings: at some firms, individual partners are earning over $1 million in fees. And 54 per cent of partners at multi-partner firms are over the age of 50. That means they'll be retiring soon. Sarbanes-Oxley will leave them rich and happy in their dotage.
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