This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.theguardian.com/business/2018/dec/20/kpmg-to-fine-staff-for-late-time-sheets

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
KPMG to fine staff for late time sheets KPMG to fine staff £100 for late time sheets
(35 minutes later)
KPMG has angered UK staff by threatening them with £100 fines if they submit their paperwork late.KPMG has angered UK staff by threatening them with £100 fines if they submit their paperwork late.
The accounting firm said it would impose the penalties if staff are late to file their time sheets, which record how long employees spend on tasks. The accounting firm said it would impose the penalties if staff were late to file their time sheets, which record how long employees spend on tasks.
KPMG has not fined anyone yet but if it issues a penalty, it will come out of an individual’s bonus – leaving for more in the bonus pot for other people. KPMG has not fined anyone yet over late filings but said if it issued a penalty, it would come out of an employee’s bonus – leaving more in the bonus pot for other people.KPMG, which audited the collapsed construction group Carillion, said: “Like any professional services business, it’s important that all of our people complete their time sheets on time, so that we can accurately track our revenue, record our work for clients and plan our resource effectively.”
At some of the other accounting firms, staff are locked out of IT systems if they are late to submit their time sheets, according to the Financial Times (paywall). KPMG, the firm that audited the collapsed construction group Carillion, said: “Like any professional services business, it’s important that all of our people complete their time sheets on time, so that we can accurately track our revenue, record our work for clients and plan our resource effectively.” However, it stressed that there would be flexible deadlines for staff who were unwell or out of the office for other reasons.
However, it stressed that there will be flexible deadlines for staff who are poorly or out of the office for other reasons.
The company added: “We are aiming for a 100% on time completion rate and have informed all colleagues why time sheets are important. Our partners who run our individual business areas are in charge of making sure their teams meet their responsibilities and in all areas do or will impose financial penalties for colleagues who breach the policy.”The company added: “We are aiming for a 100% on time completion rate and have informed all colleagues why time sheets are important. Our partners who run our individual business areas are in charge of making sure their teams meet their responsibilities and in all areas do or will impose financial penalties for colleagues who breach the policy.”
Last year, KPMG, which says it encourages home working, dropped a separate policy of charging staff for certain lost IT equipment such as computer privacy screens and laptop locks. It abandoned the plan after complaints from staff. KPMG said it was a new UK-only policy and was being rolled out now. The company said it would be seeking feedback from staff.
KPMG said: “We may charge colleagues for a small range of IT consumables, like mice, laptop cables and tablet pens if they lose them, but any equipment that breaks or is stolen is replaced and paid for by KPMG.” Two other companies, EY and PricewaterhouseCoopers – who along with Deloitte and KPMG make up the world’s four biggest accounting firms – said they did not issue fines.
EY said: “EY has a culture where people understand the importance of submitting time sheets. In the event that people do not submit their time sheets, EY takes steps to reinforce its policy; this does not include a monetary fine or locking people out of the system.”
PricewaterhouseCoopers said that if time sheets were not submitted within a certain period they would have to be authorised by the employee’s manager.
Last year, KPMG, which said it encouraged home working, dropped a separate policy of charging staff for certain lost IT equipment such as computer privacy screens and laptop locks. It abandoned the plan after complaints from staff.
The company said: “We may charge colleagues for a small range of IT consumables, like mice, laptop cables and tablet pens if they lose them, but any equipment that breaks or is stolen is replaced and paid for by KPMG.”
KPMGKPMG
AccountancyAccountancy
Financial sector
newsnews
Share on FacebookShare on Facebook
Share on TwitterShare on Twitter
Share via EmailShare via Email
Share on LinkedInShare on LinkedIn
Share on PinterestShare on Pinterest
Share on Google+Share on Google+
Share on WhatsAppShare on WhatsApp
Share on MessengerShare on Messenger
Reuse this contentReuse this content