Solving America’s shortage of accountants
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 5 September 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Lloyds Banking Group joins HSBC and US group Citi in ordering employees back into the office, a shortage of accountants is causing problems in the US and Brazil’s former president, Jair Bolsonaro, is caught up in a scandal over expensive jewellery from his time in office. Plus, the FT’s Courtney Weaver on the FT’s latest podcast series, ‘The Russian Banker’, about a controversial Russian financier who fled to the US.
Mentioned in this podcast:
Shortage of young accountants leads BDO USA to double offshore workforce
Brazil’s jewellery scandal adds to Jair Bolsonaro’s legal woes
UK banks tighten up on work from home
The Russian Banker, Part 1: The raid
The FT News Briefing is produced by Josh Gabert-Doyon, Manuela Saragosa, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk |
| 0:12.7 | Good morning from the Financial Times. Today is Tuesday, September 5th and this is your FT News Briefing. |
| 0:19.2 | UK banks want their employees back in the office. A shortage of accountants is causing problems |
| 0:25.8 | in the US and a new FT podcast investigates a controversial Russian banker who fled to the US. |
| 0:32.5 | As I started making calls on the story to people I known from when I was reporting in Russia at the |
| 0:37.2 | time, it just became clear that the story was much more curious. Plus, Brazil's former president, |
| 0:43.4 | Yara Bolsonaro, is caught up in a jewelry scandal. I'm Josh Gabbardweil, in for Mark |
| 0:49.6 | Filipino and here's the news you need to start your day. |
| 1:02.5 | Some British banks are trying to bring about an end to the work from home, Yara. |
| 1:07.2 | Starting this week, Lloyd's Banking Group is requiring staff to come into the office at |
| 1:11.3 | least two days a week and throwing in free food to lure them back. HSBC and the US Bank City |
| 1:18.2 | have already told their workers in the UK they must be in the office at least three days a week. |
| 1:22.4 | Bank executives and managers say it's necessary to increase productivity, |
| 1:26.4 | that's especially as they head into September, a typically busy month in capital markets after the |
| 1:31.5 | summer ball. There's an accounting crisis brewing in the United States and it's starting to have |
| 1:40.8 | some unexpected impacts on how the country's economy works day to day. The problem, |
| 1:46.3 | there just aren't enough auditors to go around, mostly because it's really hard to become an |
| 1:52.0 | accountant. Now, a growing movement is trying to make it easier. The FT's US accounting editor, |
| 1:58.3 | Steven Foley told us more. We have a dramatic decline in the number of people taking the exam to qualify |
| 2:05.2 | as an accountant and that is kind of the knock on consequence of there being fewer students |
| 2:10.7 | going to university because of demographic trends and fewer of those taking accounting degrees. |
... |
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