The landscape of the Big Four could soon change
Twelve months ago the idea of another Big Four accountancy firm disappearing from the map would have perhaps been far-fetched.
The pole-position firms, PricewaterhouseCoopers, KPMG, Deloitte and Ernst & Young are, on the face of it, financially sound and with strong regulatory processes to prevent another Andersen from happening.
Together they control just over 70% of a market worth more than £9bn in the UK alone. But factor in the current economic climate, poor strategy and the consequences of ‘The Rule of Three’ (more of that later), and this gloomy proposition becomes all of a sudden very real.
One could argue that the large accountancy firms should, to some extent, be sheltered from the current crisis.
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