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The Big Four

The Big Four: The Curious Past and Perilous Future of the Global Accounting Monopoly

A must-read volume on an essential industry that is poorly understood. I could not put it down.’ Leonard A. Schlesinger, Harvard Business School

Across the globe, the so-called Big Four accounting and audit firms – Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG – are massively influential. Together, they earn more than US$100 billion annually and employ almost one million people. In many profound ways, they have changed how we work, how we manage, how we invest and how we are governed.

Stretching back centuries, their history is a fascinating story of wealth, power and luck. But today, the Big Four face an uncertain future – thanks to their push into China; their vulnerability to digital disruption and competition; and the hazards of providing traditional services in a new era of transparency.

Both colourful and authoritative, this account of the past, present and likely future of the Big Four is essential reading for anyone perplexed or fascinated by professional services, working in the industry, contemplating joining a professional services firm, or simply curious about the fate of the global economy.

About the author

Stuart Kells

Stuart Kells is a Melbourne-based author. His history of Penguin Books, Penguin and the Lane Brothers, won the Ashurst Australian Business Literature Prize.
 

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Specifications

Release date: 2 Apr 2018

RRP: $36.99

Paperback ISBN: 9781863959964

Format: Paperback

Size: 234 x 153mm

Extent: 272pp

Ian Gow

Ian D. Gow is currently at Harvard Business School and will soon take up a professorship at the University of Melbourne. Before Harvard, he held positions at Morgan Stanley, General Motors, Stern Stewart & Co. and Andersen Consulting. He has a PhD in business from Stanford University, an MBA with distinction from Harvard Business School and degrees in commerce and law from UNSW.

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Praise for The Big Four

‘An invaluable contribution ... acknowledges the firms’ immense power and the seriousness of their neglect of traditional responsibilities. The Big Four will appeal to all those interested in the future of the profession—and of capitalism itself.’––Jane Gleeson-White, The Wall Street Journal

‘Who would have ever thought that one would find a deep understanding of the issues facing today’s Big Four in the rise and fall of the Medici bank? Gow and Kells provide a riveting  analysis of the historical antecedents to today’s Big Four structures and strategies and leave us totally unsettled in considering the industry’s future. A unique approach of historical comparisons results in a must-read volume of an essential industry that is poorly understood. I could not put it down! —Leonard A. Schlesinger, Harvard Business School

 

‘Major international accounting firms play a fundamental role in the governance of the world’s largest public companies. The quality of financial statements is crucial for evaluating executives and valuing firms. The Big Four delves into the origin of these firms and the role they play in businesses around the globe. Like many organizations, the future for accounting firms is uncertain. How will this profession adapt to its new environment? The Big Four tells the reader what to expect. This is a must read for executives and directors alike.’ —Professor David Larcker, James Irvin Miller Professor of Accounting, Stanford University Graduate School of Business; Professor of Law (by courtesy), Stanford Law School; Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford; Co-Director, Directors’ Consortium; Director, Corporate Governance Research Initiative

‘A fascinating book … I highly recommend it.’ —Ticky Fulleron, SKY Business

‘Great fun. I enjoyed it.’ —Phillip Adams, Late Night Live, ABC Radio National