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Big 4 Accounting & Auditing Firms For Professionals

The Big 4 refers to the four largest international professional services networks, PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young, and KPMG offering audit, assurance, tax, consulting, advisory, actuarial, corporate finance, and legal services. These firms provide an extensive range of accounting and auditing services including external audit, taxation services, management and business consultancy, and risk assessment & control.

Although usually identified as single companies, each one of the Big 4 Accounting Firms is actually a network of independent corporations who have entered into agreements with one another to set quality standards and share a common name. It is reported that the Big Four audit 99% of the companies in the FTSE 100, and 96% of the companies in the FTSE 250, an index of the leading mid-cap listing companies. They also provide massive employment and career development opportunities to accountants and auditors around the world.



The Big Four firms are shown below, with their latest,2016 publicly available data.

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Firm

Revenues

Employees

Revenue per Employee

Headquarters

Deloitte

$36.8 bn

244,400

$150,573

United States

PwC

$35.9 bn

223,468

$160,649

United Kingdom

Ernst & Young

$29.6 bn

231,000

$128,139

United Kingdom

KPMG

$25.4bn

188,982

$134,510

Netherlands

These certified public accounting (CPA) firms perform most of the audits which are required of U.S. corporations having stock that is publicly traded.

1. Deloitte Touche Tohmatsu Limited

Deloitte Touche Tohmatsu, popularly known as just “Deloitte”, emerges as one of the most successful brands in the world.  William Deloitte founded this firm in 1845. It went through a series of mergers and reorganizations but kept its brand name along with its quality standards and company values. Now, it emerges as the biggest professional service organization in the world.

In 2016, it earned $36.8 billion and had approximately 244,400 employees (the largest among the Big 4) in more than 150 countries demonstrating excellence in consulting, financial advisory, providing audit, risk management and tax services to clients worldwide.

The company is one consistently voted as one of the best employers to work for by Fortune Magazine. In 2012 the company built Deloitte University to train its current and future employees. They also offer internships and training seminars at the University.

2. PricewaterhouseCoopers (PwC)

PWC (PricewaterhouseCoopers) is ranked as the number two accounting firm in the world. The company founded by Samuel Lowell Price began in London, 1849. With $160,649 revenue per employee in 2016, PwC is now the largest accounting firm in terms of revenue per employee. It employs 223,468 professionals in 159 countries around the world.

The company was formed by the merger of two large accounting firms — Price Waterhouse, and Coopers & Lybrand. The two decided to merge in 1998 and dedicated themselves to provide services of value while establishing and maintaining good customer relations.

PwC firms operate locally in different countries around the world. These independently owned and managed firms, like other international companies, share common values and standards. PwC provides excellent Audit & Assurance consulting, IFRS reporting, tax services, and others. PwC is ranked number two in best large companies to work for by Diversity Inc. magazine past last year.

Like Deloitte, PwC also has seminars and training programs for its current and prospective employees. These programs are online, free, and available to the public. Those who are looking to earn CPE credits (Continuing Professional Education) can do so on the PwC Open University website.

3. Ernst & Young (E&Y)

Ernst & Young is rated number three out of the top 100 accounting firms in the world. Ernst & Whinney merged with Arthur Young to create Ernst & Young in 1989. Ernst & Young is a global organization of member firms in more than 150 countries. It employs people equipped with professional skills and values of integrity, respect, teamwork, enthusiasm, and motivation. These form the core values of Ernst & Young. Ernst & Young earned $29.6 billion in 2016.

The organization also values knowledge and skills development, helping around 231,000 employees achieve their potential through professional training and career growth programs. Ernst & Young offers advisory, advisement, assurance, tax, transactions, and many other specialty services.

READ Too: Career Options After Graduation In Commerce

Ernst & Young are continually rated in the top five in DiversityInc Magazine’s top 50 places to work. Ernst & Young offers training programs online and on the job, however the materials and class resources are not available to the public.

4. Klynveld Peat Marwick Goerdeler (KPMG)

KPMG is last of the big four accounting firms with more than 670 offices located all over the world. KPMG is a global network of accounting firms providing audit, advisory, tax, special interest and industry-specific services. It employs approximately 188,982 professionals working together to provide quality service in 155 countries around the world. KPMG earned $25.4 billion in 2016.

The organization was formed in 1987 through the merger of Peat Marwick International and Klynveld Main Goerdeler. Like other professional service organizations, KPMG voted as one of the best places to work by DiversityInc Magazine and currently holds the number 23 spot on the list. This place have great value on its people and quality of service.

KPMG has a website that offers free webcasts, self-education, and other resources for those who wish to learn online. Utilizing these tools allows college students and current professionals to earn CPE’s.

 

To work for one of The Big Four Accounting Firms is a prestigious honor and a goal for many accountants. Having been employed by a Big 4 Firm carries a lot of weight in the industry and can offer you career opportunities you couldn’t get elsewhere. (Image Source: Pinterest)

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