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Accounting Firms Taking Large Market Share of Consulting Contracts, Business and Industry Trends Analysis

Consulting work is a vital component of the overall business strategy of accounting firms. In fact, each of the biggest accounting firms generate more revenue from consulting services than the total revenues at the largest management consulting firms, such as McKinsey & Company, Boston Consulting Group (BCG) and Bain & Company.

Since the demise of accounting giant Arthur Andersen, LLP, the global accounting industry has been reduced from the Big Five firms to the Big Four, which together account for the vast majority of the audits at publicly held companies worldwide. These accounting giants are PricewaterhouseCoopers, Deloitte, EY and KPMG.

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