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None of the "firms" within the Big Four is actually a single firm; rather, they are professional services networks.Each is a network of firms, owned and managed independently, which have entered into agreements with the other member firms in the network to share a common name, brand, intellectual property, and quality standards.
PricewaterhouseCoopers International Limited [4] is a British multinational professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world [5] and is considered one of the Big Four accounting firms, along with Deloitte, EY, and KPMG.
KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad.com. [47] It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to Bloomberg Businessweek. [48] It was reported in early 2012 that KPMG has about 11,000 staff in the UK and 9,000 in mainland China and Hong Kong.
Four years later, Ernst & Young became the only member of the Big Four to have two member firms in the United States, with the inclusion of Mitchell & Titus, LLP in 2006, the largest minority-owned accounting firm in the United States. [20] [21] Mitchell & Titus ended its membership in the EY network effective October 30, 2015. [22]
Accounting networks were created to meet a specific need. “The accounting profession in the U.S. was built upon a state-established monopoly for audits of financial statements.” [4] Accounting networks arose out of the necessity for public American companies to have audited financial statements for the Securities and Exchange Commission (SEC). [5]
Deloitte is the largest professional services network by revenue and number of employees in the world and is one of the Big Four accounting firms, along with EY, KPMG, and PwC. [5] [6] The firm was founded by William Welch Deloitte in London, England in 1845 and expanded into the United States in 1890. [7]
8.4 210.5 233.1 Conglomerate: 2 55 State Bank of India: Mumbai 71.8 8.1 807.4 87.6 Banking 3 65 HDFC Bank: Mumbai 49.3 7.7 483.2 133.6 Banking 4 70 Life Insurance Corporation: New Delhi 98.0 4.9 561.4 73.6 Insurance 5 142 ICICI Bank: Mumbai 28.5 5.3 283.5 95.3 Banking 6 207 Oil and Natural Gas Corporation: New Delhi 77.5 5.1 80.6 41.9 Oil and ...
Big Four accounting firms: Deloitte, Ernst & Young, KPMG, PwC; Big Four (airlines) in the U.S. in the 20th century: American, Eastern, TWA, United; Big Four (banking), several groupings of banks in different countries; Big Four (British railway companies) in the period 1923–1947: GWR, LMS, LNER, SR