A Detailed Analysis of Big Four Accounting Firms' Services

This report provides an analysis of the Big Four accounting firms: Deloitte, EY, KPMG, and PWC. It discusses their current services, particularly in the context of audit and tax, and highlights the impact of technological advancements and the changing business landscape. The report emphasizes the need for these firms to adapt and innovate, suggesting a focus on digital marketing and business transformation services to remain competitive. It also touches upon the firms' historical impact, including their role in the 2007-08 financial crisis, and suggests that the Big Four can leverage their expertise to advise clients on market positioning and pricing strategies. The report concludes by stressing the importance of identifying new business opportunities in a globalized and technologically advanced environment.

Running head: ANALYSIS OF BIG FOUR
Analysis of Big Four
Name of the Student
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Author Note

1ANALYSIS OF BIG FOUR
Table of Contents
Answer to Question 4...................................................................................................................2
References....................................................................................................................................3

2ANALYSIS OF BIG FOUR
Answer to Question 4
In the U.S., the “Big Four” accounting firms, namely Deloitte, EY, KPMG and PWC
have dominated the audit and tax market over the past few decades. They are renowned for their
efficiency and for providing quality services to most of the Fortune 500 companies. However,
due to the constant updates in technologies, the necessity and relevance of these firms is
declining on a daily basis. This is especially true in the case of audit related services. The
financial frauds in the past have also tarnished the reputation and credibility of these firms to a
certain extent (Sikka and Willmott 2013). The role played by these firms in the 2007-08 financial
crisis has also led to many people losing their jobs and investments. Hence, rather than sticking
to the old business models and providing the regular services, these firms should be involved in
disrupting the current business models and act as drivers of change in the consultancy industry.
One of the areas that these firms can focus on is providing digitalized marketing related services
to the clients. Due to the globalization of modern day businesses and availability of sophisticated
technology, the firms can focus on providing services to their clients like advising them on how
to position themselves in the market, the pricing strategies to be followed in a particular country
and helping them transform their businesses with the help of Information Technology. Due to
the nature of these services and the perception of customers towards the Big Four, the local firms
operating in a particular country cannot provide enough competition to the major ones. It also
helps the business from operating in a saturated market and finding a market that has more
potential and profit making opportunities in the end. Hence, it can be suggested that it is
beneficial for the Big Four firms to identify newer business opportunities.

3ANALYSIS OF BIG FOUR
References
Sikka, P. and Willmott, H., 2013. The tax avoidance industry: accountancy firms on the
make. Critical perspectives on international business, 9(4), pp.415-443.