The world’s four largest professional services and accountancy firms - commonly referred to as the ‘Big Four’ - are unlikely to become the Big Five any time soon, according to one industry expert.
Deloitte global CEO, Jim Quigley, said he does not expect Deloitte, PwC, KPMG and Ernst and Young’s dominance in the international accounting and audit sectors to be challenged in the near future.
He described the Big Four’s nearest competitors - Grant Thornton, BDO Stoy Hayward and McGladrey – as outstanding, but believes they will provide no threat to the Big Four’s global domination in the immediate future.
"We had 150 years building Deloitte . Is it possible, of course it is possible; but will it require a long period of time, I’m sure it will," he commented.
"The largest companies are generally served by one of the Big Four firms and I think that’s going to continue to be true and one of the reasons are the needs of that market place, due to the scale of those enterprises."
His comments came as Deloitte celebrated overtaking nearest rival PwC as the world’s largest professional services firm.
Big Four Accountancy Firms Unlikely To Be Challenged For A Long Time
Tue, 12 Oct 2010
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