alt Hacker NewsThis sort of thing is a complete embarrassment to a firm like EY, where people are paying them a lot of money for advice. They’ve basically demonstrated that their market leading research is just someone asking questions to ChatGPT.
If you ever needed evidence to not buy “advice” from such outfits, this is exhibit one.
Hopefully they at least fired the partner that published this steaming pile of AI slop.
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ralph84 • today at 7:47 PM
Executives pay them a lot of money to launder blame. If a project fails after consulting EY, well, what can you do. If a project fails without consulting anyone externally, it's obviously a failure of the executive.
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The Big Four have become a shadow of their former selves. They have become so risk averse that their advice is already incredibly generic and non-actionable.
I think their audit work is in a downwards spiral. Audit has become so competitive that they are struggling to find ways to make it cheaper. They have become slaves to reducing the hours booked, and the rate of those hours. To do this they substitute less experienced people all the time. You used to be able to chat with your partner about an issue you have coming up, now you get their assistant if you are lucky. By chasing 'efficiency' they have lost their value-add. Now the first time the partner has looked at your file is right before the clearance meeting, and they spot issues that should have been picked up earlier and tested on the day you should be signing. So you end up doing it all again. I'm trying to coin a term for the inneficiency caused by chasing efficiency.