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Showing posts from May, 2025

ISSA™ 5000: A New Era for Sustainability Assurance

The International Auditing and Assurance Standards Board (IAASB) has ushered in a transformative chapter in corporate reporting and assurance with the release of International Standard on Sustainability Assurance (ISSA™) 5000 – General Requirements for Sustainability Assurance Engagements. This landmark standard, approved in 2024, is designed to provide a comprehensive and globally applicable framework for the assurance of all sustainability-related information. The Rise of Sustainability Assurance As environmental, social, and governance (ESG) issues dominate stakeholder expectations and regulatory landscapes, the demand for credible, consistent, and comparable sustainability reporting has soared. However, this growing demand has highlighted a fragmented assurance environment, with varying standards, scopes, and levels of assurance being applied across jurisdictions and industries. Recognizing the need for clarity and global consistency, the IAASB developed ISSA 5000 as a foundational...

The PwC Layoffs and What They Signal for Careers at the Big Four: Trends, Triggers, and a Wake-Up Call for Early Professionals

  In early May 2025, PwC confirmed the layoff of approximately 1,500 U.S. employees, representing about 2% of its domestic workforce. While the Big Four firm stressed that this was a difficult but necessary decision, the move has sparked wider concerns within the accounting and professional services industry. For young professionals and aspiring accountants, this moment is more than a headline—it's a warning signal. This article explores the rationale behind the layoffs, the core causes driving the trend, the demographics of those impacted, and why Deloitte, KPMG, and EY are likely to follow suit before the year ends. Most importantly, it provides practical advice to those pursuing careers within the Big Four in this rapidly evolving landscape. Understanding the Rationale PwC attributed the decision to historically low levels of attrition and strategic workforce realignment. In essence, not enough people were leaving on their own, leading to staffing levels that outpaced actual ...