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25 OCT 2024 / PRACTICE MANAGEMENT
You'd think juggling a few online courses would be the least of a Big Four employee's worries, but EY has caused a stir, firing dozens of U.S. staff for exactly that—taking multiple Continuing Professional Education (CPE) courses at the same time. Let's delve into the specifics of what happened, why it happened, and what it means for the future.
In May of this year, EY hosted its "Ignite Learning Week," a series of online training sessions covering topics from digital branding to artificial intelligence. These courses were designed to help employees earn their required 40 CPE credits—a necessity in the accounting world to maintain certifications and stay current with industry trends. However, things took a turn when several employees decided to take full advantage of their three-monitor setups by attending more than one session at a time.
The Financial Times recently reported that EY viewed this as a violation of its global code of conduct, leading to the dismissal of several staff members. This strict stance has left many scratching their heads. “I just wanted to make the most of the sessions,” shared one former employee, who noted that the internal marketing for Ignite Week encouraged them to attend as many sessions as possible. Another sacked employee echoed this sentiment, stating, "We all multitask; it’s part of the culture here."
EY’s justification is all about integrity. The firm emphasized that “Our core values of integrity and ethics are at the forefront of everything we do.” They argue that taking multiple courses at the same time prevents full engagement and comprehension, thereby breaching ethical standards.
But the dismissed employees aren’t buying it. Many have pointed to a culture of overwork and multitasking as the real issue. "If you’re billing 45 hours a week and handling other internal responsibilities, how can you not multitask?" questioned one ex-employee. Indeed, it's a classic case of employees feeling stuck between a rock and a hard place—caught between company expectations and ethical standards.
Continuing Professional Education is not just a checkbox exercise; it’s about ensuring that professionals remain updated and competent. In the U.S., most states require CPAs and other finance professionals to complete 40 CPE credits annually, and these credits are often specific to ethics, tax, or industry-related topics. In recent years, the importance of CPE has only increased, especially as technological advancements demand more up-to-date knowledge.
However, EY’s stance on ethics isn’t without precedent. In 2022, the firm was slapped with a $100 million fine from the Securities and Exchange Commission (SEC) after it was revealed that hundreds of auditors had cheated on mandatory ethics exams. This incident wasn’t just a slap on the wrist; it was a financial and reputational blow, leading to a zero-tolerance policy for anything that might even hint at a violation. Clearly, EY doesn’t want a repeat of that scandal, but was this situation really in the same league?
From EY’s standpoint, the firings are a necessary measure to uphold the firm's reputation. After all, it’s not easy to recover from a $100 million fine and accusations of dishonesty. The company appears keen to maintain a strict interpretation of its ethical standards, even if it means letting go of staff who believed they were acting within the rules.
Some critics have pointed out that the “multitasking culture” at EY might be contributing to the problem. Employees often juggle several tasks simultaneously, a habit cultivated by the very expectations EY sets. “If you want to rise through the ranks, you’ve got to show initiative,” said one insider, suggesting that taking multiple CPE courses was, in a way, seen as going the extra mile.
For the fired staff, the main gripe is not that they were found in violation, but that there was a lack of clarity. They argue that EY’s communication about the acceptable use of the Ignite Learning Week sessions was muddled at best. “I was trying to be efficient, not cheat,” said another ex-employee who spoke anonymously. Others chimed in online, with Reddit and Fishbowl seeing heated discussions over the fairness of the decision.
“We were told to take as many sessions as we could fit into our schedules,” said one dismissed employee, hinting at a lack of clarity around what was actually permissible. It’s a sentiment that’s echoed by many who feel that the punishment doesn’t fit the perceived infraction.
Some argue that firing employees over a supposed ethical breach sends a confusing message, especially in light of previous scandals involving far more egregious conduct. “I know a partner who takes two client calls at once and switches between them,” shared a former EY staffer, highlighting what they see as a double standard within the firm.
So, what’s next for EY and the sacked staff? In a post-pandemic world, online learning has become the norm, and questions around how professionals manage their time are more relevant than ever. EY has reportedly updated its guidelines, clarifying that only one session should be attended at a time. Yet, for the fired employees, this feels like closing the barn door after the horse has bolted.
Meanwhile, many of the dismissed staff are still finding their footing. With resumes out in the wild and some turning to Reddit for career advice, the question remains: Was this a reasonable enforcement of ethical standards, or an overreaction to an innocent multitasking attempt?
The EY incident serves as a reminder that CPE is more than just clocking hours—it’s about genuine engagement. With 40 credits being a common requirement for CPAs annually, the question arises: Is there enough guidance on how these courses should be taken? Multitasking may have become second nature for today’s professionals, but when it comes to professional education, firms like EY are drawing a hard line.
This story also underscores the evolving expectations in the professional world. While efficiency and multitasking are often encouraged, they can also backfire when ethics are involved. The takeaway for professionals is clear: Don’t cut corners, even if it seems like you’re just maximizing your time. To help you avoid such situations, we've got you covered with our very own MYCPE platform, where you can explore 7,000+ courses from leading industry experts for only $199.
EY's decision has certainly raised eyebrows, but it also serves as a cautionary tale. In an era where time is money, the lines between efficiency and ethics can blur. Firms need to be clearer about their expectations, and employees need to be diligent about following them—even when it seems harmless.
As for those affected, they’re picking up the pieces, and many will likely land on their feet in other firms. But EY’s decision sends a message loud and clear: When it comes to ethics, there’s no room for shortcuts—even if you’ve got three monitors at your disposal. Enjoying our stories so far? Then don't forget to subscribe to our weekly newsletter for industry insights delivered to your inbox every week!
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