The Big 4 accounting firms explored
The Big 4 accounting firms or auditors, shortly coined as “the big 4”, is a term used to refer the four largest firms in the field of accountancy and professional services.
Originally, the group was known as the Big 5, but the Enrol scandal rocking the US in early 2000s has brought another renowned audit company, Arthur Andersen down and out of the corporate scene ever since.
The 4 remaining are; PricewaterhouseCoopers (PwC), Deloitte Touche Tohmatsu, Ernst & Young and KPMG.
These 4 firms overwhelm other global companies when it comes to reputation, prestige, values, training and experience, exposure and leadership development. They have also been receiving numerous awards and international accolades that have further stamped their authority in their field.
BusinessWeek magazine listed all the four firms in their top 5 list of 30 Best Companies for Internship, with PwC leading the pack, followed by Ernst & Young and Deloitte in 2nd and 3rd respectively. Goldman Sachs was fourth and KPMG completed the top 5 list.
The Times newspaper also included the Big 4 in the recent 20 Best Big Companies to Work in UK, and this time KPMG came on top of the rank. Ernst & Young was at the 5th spot, PwC at 11th and Deloitte at 12th.
While a professional working with one of the Big 4 four may not necessarily command the highest salary of all, a top executive with a renowned firm can earn a staggering paycheck. Take John Connolly, the chief executive/chairman of Deloitte for example. John, who is considered one of the brightest accountants in the world, earns more than $10 million per year, or close to $890,000 per month.