In the current edition of BRW, KPMG national managing partner James Allt-Graham made the following comments:
We’ve gone to great lengths to hoard good staff… one of the realities in the medium term that we all recognised was that there’d continue to be an incredibly intense war for talent.
KPMG is the Great Southern Land
Are the three KPMG audit partners who were banned from auditing last week by the Companies Auditors and Liquidators Disciplinary Board some of the ‘good staff’ that KPMG has ‘gone to great lengths to hoard’?
Are these guys more worthy of being ‘hoarded’ by the firm than the hundreds of employees made redundant by KPMG in the last few months? Clearly the ‘war for talent‘ wasn’t a major concern when the axe was swung in April and February.
It is disobliging, to say the least, that Mr Allt-Graham would impliedly characterise those now-redundant workers as not forming part of the ‘good staff’ worthy of being hoarded by KPMG. But to add insult to injury, Allt-Graham found it necessary in the same article to assert that partners (inlcuding, of course, the verboten audit partners) must be reumnerated well:
We need to strike an equitable split between what’s remunerated to partners and to staff… Partners are an important asset to the business and you don’t want to lose them. Corporations are able to use balance sheets to do that. No partnership can.
What else can corporations do, James? Let’s use Westpoint as an example!
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