Accountants And Politics in Election Year 2002

If you are curious to know how much the accounting firms are giving to political campaigns this year and how the funds are being spent, a new web site will rack and stack the numbers and even allow you to drill down to the contributions made by individual partners and staff members.

The Web site is opensecrets.org. It is maintained by the Center for Responsive Politics.

The top contributors in the accounting industry this year are Ernst & Young (EY) and Deloitte & Touche (D&T) ranked Number 1 and Number 2 respectively, the same as in the last election year cycle (1999-2000). KPMG moved up into the Number 3 spot, and PricewaterhouseCoopers (PwC) moved down a notch to Number 4. Other firms that ranked among the top 20 contributors include Gibbons & Kawash, Rothstein Kass & Co., Marks, Paneth & Shaon, and Gelman, Rosenberg & Freedman.

More volatility was noted in the amounts collected by accounting political action committees (PACs) this year. Donations through the end of August to the PAC run by D&T were $2.1 million, up 32% from the prior election year. EY had collected $1.2 million, and KPMG, $1.6 million, up 83%. In contrast, donations to the PAC run by PwC were $0.9 million, a drop of 34%, and AICPA collected $0.8 million, a drop of 43%.

The top recipients for the accounting industry overall were Charles Schumer, Michael Enzi, Max Baucus, Michael Oxley, and Norm Coleman in that order. Top PAC recipients were Michael Oxley, W. J. "Billy" Tauzin, Mike Ferguson, Norm Coleman, and Dennis Moore in that order.

The search page to look up individual contributors is located here.

-Rosemary Schlank

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
ADVERTISEMENT

This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.
Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.
Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.
Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT