Within the Big 4 firms, Deloitte is generally considered to be the most prestigious and KPMG the least prestigious. PwC and EY are at a similar level of prestige.
Measured by revenue, the Big Four global accounting firms include Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and Klynveld Peat Marwick Goerdeler (KPMG).
There is a brief overview in the prologue about how mergers led to the emergence of the Big Six – Arthur Andersen, Coopers & Lybrand, Deloitte & Touche, Ernst & Young, KPMG Peat Marwick, and Price Waterhouse.
PwC and Deloitte are the most prestigious
PwC and Deloitte will cost more, EY somewhere in the middle, and KPMG will sometimes even take a hit on their margin in order to get the project (so they can use that to build better relationships with the client).
Freddie Mac Scandal (2003) – PricewaterhouseCoopers (PwC) American International Group (AIG) Scandal (2005) – PricewaterhouseCoopers (PwC) Lehman Brothers Scandal (2008) – Ernst & Young (EY) Satyam Scandal (2009) – PricewaterhouseCoopers (PwC)
PwC (PricewaterhouseCoopers) LLP
PwC is widely considered to be the world's most prestigious and progressive accounting firm. It offers extensive career development opportunities, including formal coaching and mentoring, informal mentoring, excellent trainings, and clear promotion paths.
Collapse. The firm collapsed by mid-2002, as details of its questionable accounting practices for energy company Enron and telecommunications company Worldcom were revealed amid the two high-profile bankruptcies. The scandals were a factor in the enactment of the Sarbanes–Oxley Act of 2002.
Deloitte
It comes as no surprise that Deloitte holds the number one global position. Furthermore, its hold on the top spot seems secure for the time being. Deloitte is located in more than 150 countries and has over 600 offices in the world. The firm is headquartered in New York City, New York.
As of Jan 6, 2025, the average hourly pay for a Big Four Accounting in California is $35.61 an hour. While ZipRecruiter is seeing salaries as high as $94.42 and as low as $10.44, the majority of Big Four Accounting salaries currently range between $20.87 (25th percentile) to $36.06 (75th percentile) in California.
BDO stands for Binder, Dijker, and Otte, the original founders of the firm. BDO USA, P.C.
We're the global leader in professional services
In Brand Finance's Global 500 2021, Deloitte is recognized as the strongest and most valuable “commercial services” brand in the world for the 3rd consecutive year, ranking ahead of all major professional services competitors.
The most prestigious firms are McKinsey, Bain, and BCG. Next most prestigious are "Tier 2" firms such as Kearney, Accenture, and LEK. This tier also includes the strategy consulting arms of the Big 4 firms, including Deloitte Monitor, EY Parthenon, and PwC's Strategy&.
The only other firm besides PwC and Deloitte to be named “most prestigious” was EY in 2007. In its 19th annual prestige ranking, which was published on April 15, Vault said PwC took over the top spot once again with a score of 8.858 out of 10, just edging out Deloitte, which had a score of 8.840.
Only a small fraction of CPAs make $500k a year, but it is possible. And it is faster to achieve in your own firm than by working for a large public accounting firm or getting a corporate job in the industry. To make big money in a solo practice or a small firm, your strategy will differ greatly from the big firms.
Phil Knight might be the wealthiest accountant in the world weighing in at $22 billion-ish net worth and 43rd richest person in the world. He started his career as a CPA at Price Waterhouse (now PWC) before going on to found Nike and dress Oregon's football team in ridiculous uniforms.
If you want to make the most money in consulting, Deloitte pays the best. However if you want to make the most money in auditing or tax PwC is likely your best bet.
Tax Accounting: The intricate tax laws and constant updates make this a traditionally challenging class. Tax accounting requires a deep and consistent understanding of complex legislation and its application.
PCAOB Criticizes Deloitte for the Same Quality Control Problems Three Years in a Row; Flags Deficiencies at Six Firms. The Public Company Accounting Oversight Board (PCAOB) has criticized Deloitte & Touche LLP for failing to address quality control (QC) problems found during 2020 audit inspections.
The PwC tax scandal was a scandal involving PwC's abuse of Australian Government secrets to enrich itself and its corporate clients. PwC, and other Big Four accounting firms, give advice to governments on writing tax law, and also corporations seeking to avoid those laws.
The six major audit firms in India—Deloitte, EY, Grant Thornton, KPMG, MSKA, and PwC—oversaw a significant portion of audits in the Nifty 500 companies in financial year 2023-24 (FY24).