There are thousands of top accounting companies from around the world. Each accounting firm offers unique financial services to its clients. However, within this expansive industry, there are four companies, which are considered the biggest accounting companies in the world. These institutions have become household names within the sector. Within the United State, these big firms handle more than 70% of the auditing services for publicly owned companies.
The big four accounting companies are Klynveld Peat Marwick Goerdeler (KPMG), Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC). Within the spectrum of financial services, these businesses provide management and tax services. The enormous size of these accounting firms and the amount of work they handle makes them more than accounting networks that work together with other smaller firms and individuals. To understand these businesses more, details of each firm are going to be discussed under for headings.
Klynveld Peat Marwick Goerdeler (KPMG)
Klynveld Peat Marwick Goerdeler or KPMG was originally established in 1987. Since then, the firm has grown into one of the biggest accounting establishments in the world. Now, KPMG operates out of hundreds of countries with about 700 offices. The extent of the firm’s network allows it to generate billions of dollars every year. The ability of KPMG to generate this large amount of money regularly gives it the ability to expand, acquire, and establish relationships with more and more businesses regularly.
As an accounting network, KPMG gives its clients a wide range of services. However, KPMG is focused on taxes, audits, and financial consulting services. Each of these services entails several other sub-services that are offered to their clients.
Despite the large size of the business, KPMG is one of the financial institutions that gives its workers a fulfilling career. Due to its large size, the firm has a very diverse workforce, which makes it a dynamic and enjoyable work environment. Additionally, KPMG is quite accommodating to its staff and people that want to learn more about accounting and finance especially students. Therefore, interested people can access several resources from the KPMG website. Students and people alike can utilize the free resources to learn a wide range of financial services. The resources that KPMG offers through its website include online seminars and traditional classes.
Just like KPMG, Deloitte is one of the biggest accounting firms in the world. It is considered by many experts as the best accounting network within America. Deloitte was established in 1845 by William Welch Deloitte. The firm’s first office began operating out of London. Over the years, the business has undergone several transformations to become what it is known today. Such transformations include buyouts, affiliations, and mergers with other financial institutions. Despite all the changes, the name Deloitte has remained.
In terms of revenue, Deloitte averages a revenue of over $40 billion. Despite the general dip in financial growth around the world, this accounting firm has been able to steadily grow against the prevailing harsh economic realities of today.
Deloitte is an ideal firm that provides a conducive working environment for new and upcoming accountants. It offers its employees one of the highest entry-level salaries that are over $70k. To ensure they are getting the best, Deloitte is actively involved in the education of their potential recruits. The firm has dozens of recruiters within the United States that work together with various campuses to provide the required direction for the development of qualified potential employees for the future.
Similarly, this accounting network has a university named Deloitte University. This institution was created in 2012 with the sole purpose of nurturing students that can be absorbed into the workforce directly. Likewise, the college provides continuous training to the staff of Deloitte.
Ernst & Young
Ernst & Young is rated amongst the top 4 accounting firms in the world because of the scale of its activities and its average yearly revenue. Last year alone, the accounting firm together with its network generated a total revenue that is over $35 billion. Before 1989, Ernst & Young was not in existence. Rather, two rival companies – Ernst & Ernst and Arthur Young – were in existence as two separate accounting firms. However, in 1989, the two companies merged to become what is known now as Ernst & Young.
Now, Ernst & Young has grown to operate in almost 160 countries around the globe. Also, the accounting network has almost a thousand offices across these countries. Just like any large accounting firm, Ernst & Young offers a wide range of financial services, which include taxes, financial transactions, assurances, and more. Unlike the other big four, Ernst & Young also offers advertisement services to its clients.
Ernst & Young has a pool of employees with diverse backgrounds. This firm is rated as one of the most inclusive financial institutions in the world. Likewise, this company continues to create online and offline training resources for all its workers. These programs are operated to keep their workers up-to-date on the latest trends, policies, and regulations within the financial world.
PricewaterhouseCoopers or PwC is one of the most popular accounting firms in the world. This firm is arguably considered the number one accounting institution in the world. However, before becoming PwC, the company was two separate firms. These companies are Coopers & Lybrand and Price Waterhouse. In 1998, the two companies merged to become PricewaterhouseCoopers. But the company is mostly known as PwC now.
Since its creation, PwC has steadily grown into a large financial institution. Last year alone, the company had a revenue of over $40 billion. Most of this cash flow comes from financial services that it offers, which include tax services, auditing, consulting, and assurance.
In terms of workforce, PwC has one of the most diverse workforces due to its size. In addition, the company offers its workers and the general public access to continuous training through offline and online channels. These programs allow accountants that aim to become certified to attain the required credits to do so.