09-17-2004, 12:29 PM
What's meant by "Big 4". You used this often in your replies. Could you please like to explain whether it's a firm name which is the most leading firm among others or ?
adeel
adeel
09-17-2004, 12:29 PM
What's meant by "Big 4". You used this often in your replies. Could you please like to explain whether it's a firm name which is the most leading firm among others or ?
adeel
09-17-2004, 06:24 PM
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
What's meant by "Big 4". You used this often in your replies. Could you please like to explain whether it's a firm name which is the most leading firm among others or ? adeel <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> we use the term 'big 4' for the following firms 1. Fergusons, 2. Taseer Hadi (KPMG) 3. Ford Rhodes Sidat Hyder 4. the 4th one was used for Sidat Hyder but now it has been merged into the FRRM. SMR
09-17-2004, 06:44 PM
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
What's meant by "Big 4". You used this often in your replies. Could you please like to explain whether it's a firm name which is the most leading firm among others or ? adeel <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> In the West the big 4 represents PriceWaterhouseCooper Deloite & Touch Ernest Young KPMG -------------------------- See Ya -) Visit www.accountancystudents.co.uk
09-17-2004, 09:43 PM
The Big 4 firms today (worldwide) are
Pricewaterhouse Coopers - A F Ferguson & Co. Deloitte.- M Yusuf Adil..... & Co. Ernst & Young - Ford Rhodes Sidat Hyder KPMG - Tasser Hadi Khalid & Co. Big 4 firm may not be the top 4 firms in a particular country,,, but it is true for most of the world. However, when it comes to the quality of training they do stand out (primarily becasue they have access to huge training resources and other materials). I think in Pakistan,.. except for Deloitte (a new association) all other are in the top 5 slot,. some other national firms are bigger in size and business. Incidently these to have an associate or membership status with top 10 firms worlwide.. for instance Grant Thorton etc. "Allah does not change the state of people unless they change what is within themselves" Quran 1311
09-18-2004, 07:53 AM
I wonder where GrandThornton Stands.
09-18-2004, 06:02 PM
Grant Thorton is at the no.5 position in the US and the UK (Accountancy website).. my assumption would be that they are on the no.5 position worldwide too.
I cant say about Pakistan, since there are no financial or operational data made availabe to the press by any accountancy firm. "Allah does not change the state of people unless they change what is within themselves" Quran 1311
09-18-2004, 09:52 PM
But despite being no 5 - They are not referred to as the top 5. Because that was inclusive of Anderson
-------------------------- See Ya -) Visit www.accountancystudents.co.uk
09-18-2004, 11:55 PM
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
The Big 4 firms today (worldwide) are Pricewaterhouse Coopers - A F Ferguson & Co. Deloitte.- M Yusuf Adil..... & Co. Ernst & Young - Ford Rhodes Sidat Hyder KPMG - Tasser Hadi Khalid & Co. Big 4 firm may not be the top 4 firms in a particular country,,, but it is true for most of the world. However, when it comes to the quality of training they do stand out (primarily becasue they have access to huge training resources and other materials). I think in Pakistan,.. except for Deloitte (a new association) all other are in the top 5 slot,. some other national firms are bigger in size and business. Incidently these to have an associate or membership status with top 10 firms worlwide.. for instance Grant Thorton etc. "Allah does not change the state of people unless they change what is within themselves" Quran 1311 <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> There is a will. There is a way. 0333-4502662
09-19-2004, 04:31 AM
Yes that's right the Big 4 are an all exclusive club, earlier the Big 6( around when i started my articles,.. with Andersen, coopers & lybrand and pricewaterhouse intact)the next in line is Grant Thorton but does not compare to their revenues (around 50% of the bottom 4 of the big 4 firm) and the kind of clientle and resources these Big4 firm command. Then again you never know, what another collapse of a Big 4 would bring about!. Though, I personally think the chance of that happening are pretty slim... the leftovers of the Big 4 are getting smart and have made sure they can buy enough protection behind legal shell firms, limited liabilities now dividing themselves into regional liability firms. Plus Andersen went down not because of a professional negligence claim but that of a criminal in nature, perjury and obstruction of justice and destruction of evidence.
"Allah does not change the state of people unless they change what is within themselves" Quran 1311
09-19-2004, 09:43 PM
From my understanding, all Big 4 have banking audit clients, whereas, GT don't do audits for banking. In UK, there are circa 380 banking licences are issued and since big 4 cater all the market don't you guys not think that due to conflict of interest big 4 can't really provide other professional service to this sector. However, GT and others can do so and are doing so. So, my point really is although these 4 firms are top 4 in accounting, they are not necessarily top 4 in all professional services arena. DT
09-19-2004, 11:18 PM
Well I the Big 4 are the top 4 in almost all of assurance services, yes they may not be the top companies when it comes to management or project consultancy or actuarial services so to say. (Incidently all of the Big 4 but Deloitte. have divorced their consultancy wings.. or vice versa)
Non Big 4 firms do audit banks, Insurance companies and other financial services. Take the example of Pakistan where some of the non Big 4 firms do audit the fiancial services sector. As for Grant Thorton, they have a seperate financial services assurance division in most of their bigger US offices and do cater to banks. I cannot say about the UK.. but since Grant Thorton is at the no.5 position (accountancy magazine, UK) in UK, it would be hard to believe that they have stayed away form a lucrative sector as Financial services. Moreover, post Enron and post SOX (Sarbens oxley), whereby alot of assurance related services cannot be extend to one's audit client, things are changing and the non Big 4 firms are stepping in to cover the GAP. I had a particular client an SEC (US) company who were doing business with all of the four Big4 simply because of SOX and their own stringent corporate code. PwC=Auditors, EY=Internal audit; KPMG=Tax and Deloitte=Accounting assurance services. ! "Allah does not change the state of people unless they change what is within themselves" Quran 1311
09-21-2004, 01:00 AM
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Non Big 4 firms do audit banks, Insurance companies and other financial services. Take the example of Pakistan where some of the non Big 4 firms do audit the fiancial services sector. As for Grant Thorton, they have a seperate financial services assurance division in most of their bigger US offices and do cater to banks. I cannot say about the UK.. but since Grant Thorton is at the no.5 position (accountancy magazine, UK) in UK, it would be hard to believe that they have stayed away form a lucrative sector as Financial services. <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> GT doesn't do audit for banking or insurance clients just simply because they tend not to accept the risk for less fees that banks offers to their auditors. It is just the way they have been doing business and perhaps (who knows) may well continue to do so. DT
09-21-2004, 02:16 AM
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GT doesn't do audit for banking or insurance clients just simply because they tend not to accept the risk for less fees that banks offers to their auditors. It is just the way they have been doing business and perhaps (who knows) may well continue to do so. DT <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote> I guess u r refering to the UK firm of Grant Thorton,,, "Allah does not change the state of people unless they change what is within themselves" Quran 1311
09-27-2004, 03:58 AM
Here in the US the big 4 represent everything that's wrong with the accounting profession. The situation has improved recently since now the US government has taken steps to ensure the separation of consulting and audit services. I would personally prefer not to be employed by any of these big names in the US (donno about situation in Pakistan). After all these are the big names that essentially created monsters like Enron, Freddie Mac etc.
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