Similarly to the other big four firms, they have expanded into other professional services. The US firm of EY is the most successful of their network serving more firms in the S&P 500 than any of the other big four firms and in the UK they serve as many as PwC but less than Deloitte.ĮY’s purpose is ‘Building a better working world. Moving away from their accounting heritage, audit work is no longer the primary revenue stream for PwC and today they boast a rapidly growing consulting practice and the largest tax practice in the world. They state their purpose is to “Build trust in society and solve important problems” and this is shown by the high proportion of work with governments across the world and the continued focus on serving the world’s biggest with their suite of professional services. PwC has always strived to work with the biggest and most established firms in the world. In the UK PwC used to lay claim to the highest share of the FTSE 100 also with a market share of 37% but that has now shrunk to 25% in line with the other big four accounting firms as the UK increased competition laws for audit firms. PwC audit the highest percentage of the S&P 100 with a market share of 32%, however of the S&P 500 they are second behind EY. They see themselves as long-term partners with their clients across all areas of their business and KPMG want their employees to be proud of the work they do. KPMG’s purpose is to ‘Inspire confidence and empower change.
They compete on all service fronts with the rest of the big four and the main contributing factor to their smaller size is a result of the other mergers and acquisitions that the other firms undertook rather than quality or reputation. The smallest of the big four by revenue, KPMG audit 19% of the S&P 500 and 23% of the FTSE 100. Although there is significant client crossover and intense competition between these four firms, there are a number of differences that can be seen from topline figures and by taking a deeper dive into their services and culture.
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