Audit firm count Friday out for the summer

| 15/07/2022 | 84 Comments

(CNS): Grant Thornton Cayman Islands has given all of its staff the option to take every Friday off throughout July and August. Given that many auditors and financial service professionals experience burnout after the busy period, the firm said in a press release announcing this summer’s four-day working week that it wanted to ensure its employees take extra time off to focus on what matters most and maintain both their physical and mental wellness.

“I am very excited to see the new summer four-day working week policy come to life,” said Adrianna Christian, the senior HR manager for the firm. “It will allow for additional time to pursue a passion, spend more time with loved ones, travel, or simply relax. Our people have worked extremely hard over the past few months and truly deserve the time to take a step back and improve their work-life balance, which will naturally lead to an improvement in well-being.”

Managing Partner Dara Keogh said that both the physical and mental health of staff is of integral importance to the firm. “Our people make us different and it’s the individuality and diversity of our team that strengthens us,” he said.

While this is the first year that staff in the local offices of Grant Thorton have had these additional days off in the summer, a spokesperson told CNS that the firm’s offices in the US and the UK have implemented similar policies, which have been successful. Any potential cost is mitigated by the firm’s ability to attract and retain high-quality people because of a happy work environment, the spokesperson added.

The firm said that so far the announcement has been very welcome. One accountant described the introduction of Summer Fridays as a “fantastic initiative”, especially coming after a busy period in the financial services sector.


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Category: Business, Financial Services

Comments (84)

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  1. The job-hoppers are usually not the Caymanians, it is us expats, pal.

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    • Anonymous says:

      Because that works so well when you have a work permit. If your employer doesn’t consent to the transfer of the permit, you have to leave and then try re enter on a new permit application. You are either not an expat, or your employers are so keen to get rid of you or don’t see you as valuable to their competitors that they just consent.

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  2. Anonymous says:

    Makes sense. All companies should do this!

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  3. Anonymous says:

    Law firms should consider this as well.

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  4. Anonymous says:

    It is high time for a Modern Slavery Act to be put in place here, We also have a constitutional right to family life and privacy so an Act like the French have by preventing employees to be contacted outside of ‘normal’ working hours should now in place. The fat cats at some of these firms keep all the huge bonuses by keeping costs down i.e. limiting staff recruitment at the expense of employees wellness and family life when in fact some employees are doing at least two jobs. Why should employees have to work 14-16hrs regularly because of the absence of laws to protect them and the greedy fat cats at the top.

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    • Stop whining. says:

      Oh FFS, quit crying! If you’re fortunate enough to be employed by one of these firms, you are most likely earning in the top 5% of income earners globally. Don’t like the hours? Do something else!
      There is a generation of whiners and crybabies that see oppression at every turn, without having the slightest idea of what real oppression and hardship looks like. Generations before you have dealt with world wars, gender discrimination, racial inequality, limited access to higher learning, famine, etc., etc. Suck it up cupcake! You are a financial industry professional, living in the Cayman Islands! What more do you want?? You’re living better than most people on the planet!
      #firstworldproblems

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      • Anonymous says:

        Well said. Although I doubt the original poster is employed at one of these firms.

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      • Anonymous says:

        So why does our mother country have a Modern Slavery Act and also unions to protect employee rights and the French has such laws? No you want to work off-shore in an unregulated place so you can continue to take home your disproportionally high millions tax free, while giving the workers the crumbs and zero compensation for their extra hours. You may be happy with the hours that are well known to create teetotalers which no society needs.

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        • Anonymous says:

          You’re aware that all the expats here in cayman working for these firms previously worked for the same firms in the uk, USA, or other countries and did even more hours for likely similar or less pay?

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        • Anonymous says:

          Teetotalers?

        • What now? says:

          @Anonymous 19/7/2022 at 5:00 pm. You clearly don’t have the slightest idea what you’re talking about. “Work off-shore (sic) in an unregulated place” Are you referring to the Cayman Islands, one of the most heavily regulated financial jurisdiction on Earth? Why is that people that know the least, always want to speak the loudest?

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    • Anonymous says:

      Don’t want to work hard? Get a normal job. Most of the “fat cats” worked their way up through the same system. Thats why they are where they are and you’re on an anonymous message board writing about “modern slavery”.

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  5. Anonymous says:

    I’m holding out for a job that works Fridays only.

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  6. Anonymous says:

    The ones with any sense will work the morning and then check out to a long lunch.

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    • Orrie Merren says:

      Early bird gets the worm. Truthfully, when you get an early start to the day, it feels like momentum builds and you get more accomplished productively.

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  7. Hard Working Accountant says:

    Accountants work harder, albeit less ethically, than bankers and lawyers and, therefore, should be entitled to two summer months off on Fridays.

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  8. George Ebanks. says:

    Might as well give em Mondays off too. That’ll help em recover from bottomless bubbles during Sunday brunches.

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  9. Anonymous says:

    nothing new here. When I worked at an audit firm in Cayman in the 1990’s we could bank the overtime hours in the busy season and apply it for time off in the summer.

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  10. Anonymous says:

    So time in lieu then. Hardly newsworthy.

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  11. Anonymous says:

    Our office lets staff take as many days off as they like, except that we don’t pay them for the work they aren’t doing anymore, and they have box up, and carry out their shit.

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  12. Anonymous says:

    Great idea. Great that it has come to the Cayman office. Hope the idea spreads.

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  13. Anonymous says:

    That is a great place to work!

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  14. Anonymous says:

    During busy time they work 14-16-18/hr a day every day even when they aren’t in the office. Hours actually worked and billable hours aren’t the same. To produce 16 billable hours for example one might actually work 20. They don’t get overtime pay.
    Auditors and accountants deserve Fridas off.

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    • Anonymous says:

      You can bet that the back office and support staff don’t do those hours – but everyone gets the option to take the Fridays.

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    • Anonymous says:

      Agreed. If you divide what they get paid by the hours they actually work, most get paid below minimum wage. It’s actually quite embarrassing because the partners and senior mgmt make off really well.

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    • Anonymous says:

      A lot of successful people work 14++ hours per day, not just during busy times.

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      • Anonymous says:

        I think you have a warped sense of the definition of “successful.”

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      • Anonymous says:

        It is high time for a Modern Slavery Act to be put in place here, We also have a constitutional right to family life and privacy so an Act like the French have by preventing employees to be contacted outside of ‘normal’ working hours should now in place. The fat cats at some of these firms keep all the huge bonuses by keeping costs down i.e. limiting staff recruitment at the expense of employees wellness and family life when in fact some employees are doing at least two jobs. Why should employees have to work 14-16hrs regularly because of the absence of laws to protect them and the greedy fat cats at the top.

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      • Orrie Merren says:

        It feels to me like work almost never stops. That’s why, at least from my perspective, it’s important to enjoy what you do, which takes the edge off to some degree.

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  15. Anonymous says:

    Similar to other accounting firms on island and worldwide: you have to remember that us auditors at the big 4 especially between February and June 30th often work 7 days a week and 15 hours a day and we are not paid hourly – it’s a fixed salary.

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    • anonymous says:

      Bullshit. All employees of accounting firms get paid overtime. I know I ran a big four.

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      • Anonymous says:

        No you never ran a big 4- if you did you would know that they don’t usually get overtime. I worked in an offshore bank and trust company for over 30 years and I have a good idea how it is done, Before they take up an audit appointment contract they have to lay out approximately how long the audit would take, what they will be looking at during the audit and of course an approximate fee that will be charged. There is normally no opportunity to pad their pockets by dragging out the process unnecessarily.. They do work long hours because of course time is of the essence and they need to move on to another job. The audit has to be completed in a reasonable time frame after the year end whether that is June or December.

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        • Anonymous says:

          they don’t get paid overtime… they get $10,000+ bonuses… whether you call it overtime or bonus regardless they are being compensated for their time… and might I add that’s a healthy sum of cash for a bonus.

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          • Anonymous says:

            I sincerely hope this story will now spur on some of our graduates to go to university study and qualify as an accountant, come back and work for a BIG4. Get some big bucks for their work, get the big bonus and stop being so jealous and critical of those who went ahead and done it. That was a good story and you sorry asses had to go and spoil it . There is not much hope for some of you out there who only know how to bitch about everything, even a great story. Is it lack of exposure of lack of common sense? Whatever it is it seems to be contagious.

          • Anonymous says:

            So they work hard, they are worth it!

      • James says:

        Completely false

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      • Anonymous says:

        Talking of bullshit…..

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      • Anonymous says:

        Which one, EY?

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      • Anonymous says:

        If you did, it was 30 years ago, Boomer.

  16. Anonymous says:

    Adults need summer break too.

    Apply this everywhere possible.

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  17. Anonymous says:

    Do they get paid for that day???

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