Audit company "Big four": PricewaterhouseCoopers, Deloitte, Ernst & Young, KPMG. Audit and consulting services

Why is auditing of the company “Big four” is known throughout the world? What are they? We will answer these questions in the article as detailed as possible. “Big four” is four companies providing audit and consulting services. They are considered the largest in the world and have the following names:

• KPMG;
• Ernst & Young
• Deloitte;
• PricewaterhouseCoopers.

Below are the profit “Big four”, according to the latest information, and staff:

Conversion

How did the auditing company “Big four”? Huge companies were once eight, and together they were called "Big eight". Association of Touche Ross and Deloitte, Haskins and Sells have occurred in 1989 (the merged firm was named Deloitte & Touche). United and Arthur Young and Ernst & Whinney (new name is Ernst & Young). In the end, “Eight” transformed into “Six”. A huge number of firms continued to fall after the merger of Coopers & Lybrand and Price Waterhouse in 1998 (appeared PricewaterhouseCoopers). Finally, “Five” transformed into “Four” after a General Exodus of clients from Arthur Andersen and the subsequent liquidation of the company in 2002.

International network

Now consider auditing company “Big four”. PricewaterhouseCoopers – international network of companies offering professional services in consulting and auditing. It consists of companies that belong to global network of companies PricewaterhouseCoopers International Limited, each of which is a legally independent entity. This organization is a member of the “Big four" auditing firms and there are more than 160 years. The headquarters of the network located in London.

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History PwC

You wonder, what do the auditing of the company “Big four”? So, PwC was created in London in 1849, and in 1998, as a result, the connection of enterprises Coopers & Lybrand and Price Waterhouse received its present name.

In 2011, in April, bosses at PricewaterhouseCoopers, pleaded guilty enterprises in conducting audit slipshod Indian Corporation Satyam Computer Services (specialists found a fraudulent scheme through which the firm's management has caused enormous damage to the owner). PwC has agreed to pay $ 7.5 million. fine adjustments of the US and $ 18 million. for compensation to the owner of the Indian company.

The Management and owners of PwC

In America, the PwC appears as a partnership with limited responsibilities and is the third in the country private enterprise with the largest revenue. Its CEO is Maurice Robert.

Corporate culture PwC

PricewaterhouseCoopers included in the top 100 outstanding employers of America, which annually prints a Fortune. In 2013, she won 81 seats.

In this organization are program sponsorships. Thus, in the framework of the project, including partners, associates, starting with home, become mentors fifteen employees. They establish personal and professional contacts, get acquainted with the families, find out to aspire to and what are the workers. Once a quarter, the charges meet with their chiefs to discuss their strengths and weaknesses, methods of correction first and gain second.

Activities PwC

770 offices of the PwC network in 158 countries. Its clients in 2006 were 425 companies from the global rankings of the companies in the FT Global 500.

In PwC employs more than 168 thousand specialists. The revenue of this company amounted in 2011 to $ 29.2 billion.

PwC in Russia

PwC Russia was first started its activities in 1913. The Moscow office of this company is located on Butyrsky Val. It also has offices in Kazan, Yekaterinburg, Saint-Petersburg, Voronezh, Vladikavkaz, Yuzhno-Sakhalinsk, Novosibirsk, Krasnodar and Rostov-on-don. Togliatti office due to the lack of customers in the region was closed in 2009. As of 2009 in the Russian branches of PwC employs approximately 2 300 employees.

This organization in conjunction with international financial faculty of penacademy in 2009 launched a master project "world capital" in which the discipline of the study of income, taught in English.

PwC has won in 2012 the first place in the rating of konsalting-audit firms, KPMG shifting from there, but since 2013 again moved to the second position.

The Managerpartner of this company in Russia is Igor Lotakov.

Deloitte

What is Deloitte Touche Tohmatsu Limited? Is a global network of businesses which support the field of consulting and auditing. She is a member of the “Big four”. This is the largest network by number of employees (244 of 400 specialists).

Chronicle Deloitte

The First office Deloitte Touche was established by Deloitte and William Walsham in London in 1849. In 1990, George Touche with the partner registered in the new York firm of Touche, Niven &Co. In Tokyo in 1968 started operating a bookkeeping enterprise Tohmatsu Awoki &Co. Organization Deloitte & Touche appeared in 1990 as a result of integration, and in 1993 the company got its current name.

Global structure of Deloitte

What is good about Deloitte? Her each mission is independent and legally separate entity and governed by the laws of the country in which it operates.

Many years of inter-ethnic network of enterprises “Deloitte” is a Swiss Association, but in 2010, July 31, members of this organization became part of a private firm “Deloitte Touche Tohmatsu limited" liability of participants secured their borders, established in England.

In this structure, the cooperative provides support only to its member-enterprises. It is similar to other worldwide networks, providing high-quality services. In turn, the participating firms have provided assistance to the final consumer. The management tries to limit the responsibility of each independent member. CEO of this company is Renjen punit.

Activities Deloitte

The Company “Deloitte” provides assistance in the areas of consulting, tax, audit and corporate Finance to private and public enterprises operating in various economic sectors.

By the end of 2015 “Deloitte” has acted in more than 150 countries. Her firm-real estate investors in 2015, reported receiving a record total revenue in the amount of 35,2 billion. USA.

Deloitte in the CIS countries

“Deloitte” opened its first residence in Moscow in 1990. She's one of the first among the well-known consulting and auditing companies appeared on the market of the CIS countries.

In Russia the company is represented in five major cities: St. Petersburg, Moscow, Ufa, Yekaterinburg and Yuzhno-Sakhalinsk, employing about 2 000 people.

In Russia, the company “Deloitte” the piece “Deloitte CIS holdings limited”, which is a part of the “Deloitte Touche Tohmatsu limited”, including in international Association of firms “Deloitte”.

The Offices are opened in 11 countries of the CIS, as well as Ukraine and Georgia. They employ more than 2500 employees. This firm provides the following services:

• Corporate Finance;
• Taxation and law;
• Consulting services.

Ernst Young

Have You ever heard of the firm Ernst Young? This British konsaltingo-auditing company, one of the greatest in the world (included in the “Big four" firms and auditors). Under the trade mark EY, which is the abbreviation name of the company, with effect from 2013. Its headquarters is located in London.

History Ernst Young

Ernst Young was founded in 1989 by integrating the audit of us companies: Ernst & Whinney that created Ernst Alvin in 1903, and A. C. Young, formed by Arthur young in 1906.

EY is a British audit and consulting company, which provided assistance to Lehman Brothers, went bankrupt in September 2008. This crash marked the transition of the world economic crisis of the late 2000s in the intensive phase. Then Ernst & Young said that Lehman went bankrupt in connection with a series of unprecedented adverse events in the financial markets, and credit debt of the Bank is responsible management, not the auditor.

Chairman of the Board of Directors and the CEO of EY is mark Weinberger. Its head office is in Sydney (Australia). Generally, the company has opened in 150 countries of the world 728 offices, which employs more than 230 thousand professionals.

In Russia, the firm possesses offices located in St. Petersburg, Moscow, Krasnodar, Kazan, Ekaterinburg, Togliatti, Yuzhno-Sakhalinsk, Novosibirsk, Rostov-on-don and Vladivostok.

Activities Ernst Young

In the annual list of “more Choice of places to start a career" by BusinessWeek magazine’s EY was awarded first place. And in the Fortune “100 selected firms for work” in 2009, the organization took 44-th place and higher – among the “Big four”.

University Great Place to Work (USA) in 2012, EY included in the list of the most prominent employers among ethnic enterprises. It is known that the inventory amount for the second year. It includes 25 of the world leading companies in this field.

EY in 2013 was recognized the best employer among companies that provide professional services, and won second place in the international Universum rating of 50 World's Most Attractive Employers.

In 2015, it was also rated as the best employer among companies that provide professional help, and she was in eighth place in the rating of the Russian Federation 50 Universum World's Most Attractive Employers.

KPMG

The famous KPMG? This is one of the biggest networks in the world, providing qualification support. She is a part of the “Big four”. Its international headquarters located in the Netherlands (Amstelveen).

The company employs more than 162 000 employees. KPMG provides three types of services: tax, audit and consulting (restructuring with its business, risk management and explanation).

KPMG History

KPMG was established in 1870 when William Barclay Pete registered in London, accounting company. In 1911 Willari Barclay Peat & Co merged into one with Marwick Mitchell &Co Peat Marwick Mitchell &Co, later known as Peat Marwick.

At the same time in Glasgow in 1877 was established the office of accounting businesses of Thomson McLintock. Kleinfeld Pete in 1917, he opened an accounting company in Amsterdam. A little later he entered into an Alliance with Klynveld Kraayenhof & Co with Krithia. In 1979 Deutsche Treuhandgesellschaft (Germany), Klynveld Kraayenhof & Co (Netherlands) and McLintock Main Lafrentz (USA) has established a Union of national independent firms KMG to create a powerful international European companies. Then in 1987 KMG and Peat Marwick made the first major integration of the accounting of enterprises and created an organization called KPMG, with the exception of English - Peat Marwick McLintock.

Further, KPMG has undergone various changes, and in October 2007, member firms from Germany, Switzerland, the UK and Liechtenstein was integrated into the partnership of KPMG Europe. After he was joined by member firms from Belgium, CIS, Spain, the Netherlands, Luxembourg, Saudi Arabia, Turkey and Norway.

In December 2008 it became known that of 2.37 billion. of the two funds group Tremont, which was a client of KPMG, were transferred to “the pyramid" Madoff.

Structure KPMG

KPMG audit performs at the highest level. She is in the ranking of the 100 selected employers USA, which annually prints a Fortune. It took 63 place in the rating of 2014, leaving behind all the other four. Each international office of the company is a separate legal entity – a member of the cooperative KPMG International (a Swiss company registered in the Canton of Zug).

In 2003, KPMG International has transformed its legal structure from a Swiss enterprise to a co-operative under the laws of Switzerland.

Such a structure in which the co-operative supports its member firms, similarly to other networks providing expert assistance. Similarly, participants provide services to the end user. The aim is the limitation of the duties of independent members.

Andrew Michael, a former Australian Chairman of KPMG took up the post of international President in 2011, in September. Today he is working in Hong Kong. Global head of account of the company of “Big four” for the first time in history became to be based in Asia-Pacific.

KPMG in CIS

KPMG provides audit and Advisory services in the CIS countries. It has offices in Azerbaijan, Russia, Ukraine, Kyrgyzstan, Kazakhstan, Armenia, Georgia. In its divisions employs more than 3 800 employees.

The Company opened its office in Moscow, its regional centers located in Novosibirsk, Yekaterinburg, Perm, St.-Petersburg, Krasnoyarsk, Kazan, Rostov-on-don, Nizhny Novgorod. The largest Russian organizations are its customers. In fiscal 2011, revenue divisions of KPMG in Russia amounted to 10.5 billion rubles.

The Agency “Expert RA” found that the auditing business of KPMG is the largest in Russia since 2009. In 2011, KPMG was the greatest consulting and auditing firm in this country, but in first place, with the same result the following year was PwC.

Expertise

The‘Big four” audit of holds great. But what is it? The audit called branch of economic activity and academic discipline, studied in the institutions. According to the legislation of the Russian Federation, under the audit to understand only the operations of the audit of financial (accounting) reports and accounting data, and display on its results independent of a reasoned opinion by the auditor on dopodlinno statements in the form of a written opinion of a specialist.

In essence, in accordance with the traditions of business vocabulary and turnover, audit is evaluation and independent verification of accounting, evaluation and reporting activities of the enterprise, as well as process, system, product or project. Most often this term applies to audit the accounting statements of firms for the purpose of expressing opinions on their accuracy.

In business practice use the concept of “technical audit”, “operating”, “quality”, “environmental” and other variations of the audit. However, these processes and concepts are not specified in the law (legal) language. Some close examination for certification and value. It is necessary to distinguish these two types of audit, inspection and verification activities it audits of the financial statements.

Consulting

Now find out what consulting. It is the work connected with the business managers, heads on issues in the field of technological, commercial, expert, financial, legal, technical activities. The purpose of this discipline is to help the management (control system) to achieve its objectives.

Consulting enterprises are typed on separate areas of practice (e.g., personnel, financial, strategic, organizational).

Consulting is designed to analyze and justify application prospects and developmentscientific-technical and economic-organizational solutions based on customer problems and subject areas.

Counselling is necessary in the following cases:

• The company needs new ideas.
• You need knowledge and experience.
• The leadership of the company, there is no agreement on the important issue and in order to obtain an objective recommendation, an opinion from the outside.
• You need support to complete any project.
• Due to shortcomings in internal dialogue company needs a professional, capable become a connecting link between departments and levels.