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KPMG, an auditing and consulting firm, announced its resignation as President of the United Kingdom on Friday, just days after controversial comments arose asking its staff to “stop complaining” about working conditions caused by the epidemic.
“KPMG UK has confirmed that its chairman and senior partner Bill Michael has resigned and will leave the company later this month,” a statement said.
The panel appointed Bina Mehta as the new UK president and Mary O’Connor as the senior partner.
They are the first women in the company’s 150 – year history to hold these positions.
Mr Michael stepped down earlier this week following the panel’s inquiry and apologized.
But the controversy surrounding his statements, which was born following an article in the Financial Times, eventually forced him to resign.
“I love the band and I’m so sorry that my words hurt my colleagues and the impact this week’s events have had on them,” Michael said in the statement.
“As a result, I consider my position unacceptable and have decided to leave the group,” he adds.
Conditions for work
Business Daily KPMG noted a virtual meeting on Monday, which was attended by 1,500 employees and focused on the impact of the epidemic on working conditions.
According to two of them quoted anonymously by the Financial Times, Bill Michael asked employees to “stop complaining” and “don’t play victim’s card.”
Employees have previously shared concerns about the reduction in their pay and bonuses, as well as the way KPMG measures performance, by evaluating each person from the best to the worst on a team.
The incident comes after the release of the annual results (completed in late September) of a UK auditing firm that employs nearly 16,000 people in the country.
Its 582 allies showed that on average their wages fell by an average of 11% to 57 572,000 a year, which the group claims to save money and protect jobs.
Mr. who was president for three years. Michael saw his compensation fall 14% to 1.7 million.
KPMG, along with PwC, EY and Deloitte, is one of the Big Four companies dominating the audit market and is nicknamed the “Big Four”.
But the sector’s reputation has been tarnished by a series of accounting scandals in recent years, so the government is preparing to announce reforms to create more competition and avoid conflicts of interest.