Yes, Smith + Howard is a prominent, nationally recognized public accounting and advisory firm based in Atlanta. Consistently ranked by INSIDE Public Accounting (IPA) as a top 100/500 firm and a "Best of the Best" firm, it offers services including audit, tax, and advisory for private businesses, nonprofits, and high-net-worth families.
If you are in the accounting field, the term “Big 4” is no mystery to you. This title refers to the four largest professional services networks in the world: Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG).
None of Deloitte's Big Four peers are publicly traded, and other professional partnerships, such as law firms, typically aren't publicly traded either, although some other consulting firms that compete with Deloitte are publicly owned, like Accenture (ACN -0.38%) and Booz Allen Hamilton (BAH +0.79%).
The "Big 5" accounting firms were Deloitte, Ernst & Young (EY), KPMG, PricewaterhouseCoopers (PwC), and Arthur Andersen; however, after Arthur Andersen collapsed following the Enron scandal in 2002, the industry consolidated into the current "Big Four": Deloitte, PwC, EY, and KPMG, which remain the largest global accounting networks.
The "Big 8" accounting firms were the dominant professional service networks before late 20th-century mergers and industry shifts reduced them to the current "Big Four": Deloitte, PwC, EY, and KPMG, with the original Big 8 including Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskins & Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross, notes Wikipedia. The consolidation into the Big 4 happened through major mergers in the late 1980s and Arthur Andersen's collapse after the Enron scandal, leaving these four firms to audit most public companies today.
There are around 138,000 certified public accounting firms in the United States. To become one of the ranking top 10 largest public accounting firms is a significant accomplishment in and of itself.
Public accounting firms, especially the Big Four (Deloitte, PwC, EY, and KPMG), offer some of the highest-paying roles in the industry. Here's a breakdown of typical positions and their average salaries: Staff Accountant: $50,000–$67,000. Senior Accountant: $68,000–$82,000.
Of the Big 4, KPMG is the smallest and also the only one operating outside of London—the firm's headquarters is in Amstelveen, Netherlands. However, KPMG does operate in over 150 different countries, offering tax, audit and advisory services.
Deloitte is a British multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along with EY, KPMG, and PwC.
Making $500,000 a year is quite rare, placing you in roughly the top 1% (or slightly below, depending on data) of U.S. earners, with estimates suggesting only about 0.8% to 1% of individuals or households achieve this income, though government data can obscure this; it's a significant financial milestone, yet surprisingly, many high earners still feel financially stretched due to lifestyle inflation and high costs.
The single most important certification needed for a Big 4 career is a Certified Public Accountant (CPA) license.
On the next question we found that 40% of our participants were “extremely unhappy” to “moderately happy,” and 60% were “happy” to “completely delighted” with the Industry of Public Accounting.
The main difference between an accountant and a CPA is their level of education and training. Most jobs available to private accountants only require a bachelor's degree, but to work in public accounting, professionals must earn their CPA license.
Accounting and Bookkeeping Firm Revenue Breakdown
Using data from survey respondents, we can break down firm revenue in 2023 by firm size, working style, and firm age. Firm size: Solo firms made an average of $62,327. Firms with 2 to 5 employees made an average revenue of $292,292.
The Big 4 are the four largest global professional services networks that dominate audit and assurance, tax, and advisory work for companies and governments worldwide. They are Deloitte, PwC, EY, and KPMG.