The U.S. Equal Employment Opportunity Commission (EEOC) has been pressing Deloitte and other major accounting firms to drop their longstanding mandatory retirement policies. Both the firms themselves and the American Institute of CPAs are asking the EEOC to stop.
In Canada, mandatory retirement for employees has been a thing of the past since 2006, although accounting, legal and other partnerships do have the right to make contractual arrangements with their partners that have them retire at a certain age. And that doesn’t sit well with some members of the accounting profession.
The latest salvo from the EEOC was directed at Deloitte LLP, beginning in 2010, as explained by the firm’s legal counsel William Lloyd when he testified during a congressional hearing on Sept. 19 in which U.S. lawmakers considered reining in various EEOC practices.