Who are the big 4 accounting firms in the UK. Find out about PwC, Deloitte, EY and KPMG below.
PwC stands out in the accounting world as the best company among the big four accounting firms. In 1998, Price Waterhouse merged with Coopers & Lybrand to make PricewaterhouseCoopers.
They are renowned as the top of the big four due to their range of professional services. This includes management consulting and auditing services. It’s one of the largest public accounting firms in the world, with approximately 30211 employees and 1,324 partners.
PwC’s turnover from 2022-2023 was £5bn, showcasing the quality of their financial advisory. They are respected for their high accounting and auditing standards and great quality risk advisory. They ensure accuracy, transparency, and integrity with financial information.
PwC’s research expands the understanding of the latest innovations in the investment landscape. Their report, “Expanding Frontiers: The down-to-earth Guide to Investing in Space” highlights the diversity of investment opportunities across the industry and the UK’s dominant position as a hub for global space investments.
Deloitte is also considered one of the largest accounting firms in the UK, with around 23371 employees and 1218 partners. Deloitte offers legal advisory services and market research in addition to its accounting services. This provides clients with a comprehensive approach to their business needs. Deloitte is managed independently by senior partner, Richard Houston.
This accounting firm has a modern approach to business, too. Tune in to their Green Room Podcast when you have a moment. They cover the biggest questions in business, from climate change to the latest technology on the market.
They have also shown that their services meet the NCSC’s standards for Cyber Security Consultancy. This means that they are one of the most trustworthy firms in the big four, and they manage consultancy with good industry practices.
Deloitte also stands out amongst the four firms for its focus on academic and educational expansion. They place importance on professional qualification, education and experience requirements.
According to Deloitte News, Deloitte recently launched its postgrad programme at Edinburgh Napier University. This allows for career opportunities for those in the accounting profession.
Ernst & Young Global Limited (EY)
Out of the four largest accounting firms, EY is a major player when it comes to business tax needs. With around 12000 employees and 781 partners, their global presence stands out among the big four. The company began as Stuart & Young and was founded in 1894 by Arthur Young and C.W. Stuart.
EY provides clients with broad services for financial statements. These are aimed at ensuring accuracy, transparency and compliance with applicable accounting standards.
EY’s specialized tax team has extensive expertise in tax planning, compliance, tax laws, and general tax services. This allows the firm to help clients in navigating the latest HMRC tax legislation and rates.
Their practical skills are shown in shared research available to the public. An example of this is in their article and survey “How to remain resolute on investment as inflation surges” in the CEO Imperative Series. It outlines how CEOs can transform their companies to remain ahead of disruption and global challenges.
Klynveld Peat Marwick Goerdeler (KPMG)
KPMG is different from other firms in the big four because it puts a focus on technology-driven digital transformation. It’s one of the smaller firms in the industry, with approximately 23600 employees and 582 partners. Their annual revenue stands at around £2.2m.
The company is an active promoter of cutting-edge technology such as data analytics, artificial intelligence, and automation. This expands its service offerings and assists clients in navigating the ever-evolving digital world.
KPMG also has a worldwide network of other member firms with which it works closely. This enables cross-border service delivery, as well as the sharing of industry expertise and best practices. They have a firm grasp of HMRC regulations and changes, as per their recent article, “New HMRC guidance on ‘unallowable purpose’”.
KPMG places a high value on environmental, social, and governance (ESG) issues. The firm actively promotes ethical business practices. They assist clients in incorporating ESG factors into their operations. They also offer training programs for prospective employees engaging in accounting college degrees.
The Big 4 accounting firms, PwC, Deloitte, EY, and KPMG, together represent the cutting edge of accounting. These firms are renowned for providing a wide range of services. These include management consultation, auditing, and tax consulting. They follow strict standards to ensure the integrity and transparency of financial data.
Each company brings its own set of strengths to the table. Every single firm on this list focuses on professional development, great service delivery, and promoting innovation.