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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.
The Gini coefficient measures the difference between firms' sizes without including the number of firms operating in a market. This is known as a relative concentration measure and differs from absolute concentration measures (like the Rosenbluth index) which includes the number of firms and firms' distribution sizes.
Additionally, the larger the firm, the more likely it will be invited to render auditing engagements. A large organized network allows for spreading the costs to price competitively. Ultimately, size is the only real means of differentiation that is readily available on accounting firms to assure clients that they can do international work. [6]
Nearly 160 accounting execs and partners were asked about why firms were making more auditing errors. The auditors were split on whether a better work-life balance could reduce the number of errors.
That is, all firms have an equal market share. Low concentration – 40% A concentration ratio of close to 0% implies perfect competition at the least. This is only possible in an industry where there is a very large number of firms. Medium concentration 40% – 70% An industry in this range is likely an oligopoly. An oligopoly describes a ...
To give another example, in advanced western households (and depending on the economy), the number of automobiles per family is greater than 1. To the extent that further market growth (i.e. growth of the demand for automobiles) is constrained (the main buyers already own the product), the market is said to be basically saturated.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad.com. [48] It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to Bloomberg Businessweek. [49] 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.