The Big Four: The Curious Past and Perilous Future of Global Accounting Monopoly

'A must-read volume on an essential industry that is poorly understood. I couldn't put it down.' - Leonard A. Schlesinger, Harvard Business SchoolAcross the globe, the so-called Big Four accounting and audit firms - Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG - are massively influential. Together, they earn more than US$100 billion annually and employ almost one million people. In many profound ways, they have changed how we work, how we manage, how we invest and how we are governed.Stretching back centuries, their history is a fascinating story of wealth, power and luck. But today, the Big Four face an uncertain future - thanks to their push into China; their vulnerability to digital disruption and competition; and the hazards of providing traditional services in a new era of transparency.Both colourful and authoritative, this account of the past, present and likely future of the Big Four is essential reading for anyone perplexed or fascinated by professional services, working in the industry, contemplating joining a professional services firm, or simply curious about the fate of the global economy.

Stuart Kells' book Penguin and the Lane Brothers won the 2015 Ashurst Australian Business Literature Prize. He was formerly Assistant Auditor-General of the state of Victoria, and a director at KPMG. He also worked at Deloitte, S.G. Warburg and PPB Advisory. He has a PhD in law from Monash University.Ian D. Gow is currently at Harvard Business School and will soon take up a professorship at the University of Melbourne. Before Harvard, he held positions at Morgan Stanley, General Motors, Stern Stewart & Co. and Andersen Consulting. He has a PhD in business from Stanford University, an MBA with distinction from Harvard Business School and degrees in commerce and law from UNSW.

A fascinating and authoritative portrait of the 'Big 4' accounting firms: Deloitte, PricewaterhouseCoopers, Ernst & Young, KPMG. Essential reading for anyone perplexed or fascinated by professional services, or working in the industry, or contemplating joining or engaging a professional services firm. The history of the 'Big 4' firms is one of triumphs and disasters, of pioneers and scoundrels. Today, the firms have an uncertain future - thanks to their push into China; their vulnerability to digital disruption and competition; and the hazards of providing traditional tax and audit services in a new era of transparency.

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