Big Four

EY's failed attempt to spin off its consulting arm, known as Project Everest, left the firm with a hefty debt that took longer than expected to clear, according to its latest yearly account. Despite aiming to repay the $700 million (c. £575m) credit facility by July 2024, the Big Four firm sti

Deloitte is implementing significant cost-cutting measures in the UK, including a target to slash staff travel and expenses by over 50% by May, the end of its financial year. This decision, revealed in an email to partners and directors, comes amidst "challenging market conditions" in the UK's profe

KPMG has posted a 5.4% rise in global revenues to $38.4 billion (c. £30.5bn), outpacing its Big Four rivals in terms of revenue growth in the past year. The performance was driven by gains in audit, tax, and advisory services. Despite a slowdown in technology and M&A activity, KPMG's

Deloitte has appointed Allee Bonnard as its new UK managing partner for audit and assurance, marking the first time a woman has held this position in the firm's 179-year history. Ms Bonnard is a financial services audit partner and has over 20 years of asset management and private equity experience

Big Four firm EY has revealed plans to cut 150 jobs within its UK consulting division. The cuts will primarily affect senior roles such as managers, senior managers, and directors. This move comes as demand for consulting services weakens following a boom during the pandemic.

Vishal Chopra, who took over from James Kergon as senior partner for KPMG in Scotland, has revealed a new-look senior leadership team. Mr Chopra now oversees a team of more than 900 people across KPMG’s offices in Glasgow, Edinburgh and Aberdeen. He stepped into the role after having most rece

EY's UK partners have seen their average pay fall 5% to £723,000 this year, despite a 3% rise in revenue to £3.70 billion for the financial year ending 30 June 2024. The Big Four firm reported a compound annual growth rate (CAGR) of 10% for fee income over the last four years, while also

Deloitte has quietly dismissed approximately 250 employees in the UK, representing 1% of its workforce. This marks the third round of redundancies in 13 months for the Big Four firm. The cuts, which were not formally announced, targeted underperforming staff across its advisory divisions and follow

The Financial Reporting Council (FRC) has today announced the four largest audit firms (Deloitte, EY, KPMG, PwC), have concluded the transition period of operational separation. Throughout the three-year transitional period, all four firms have made significant improvements to their governance to pr

PwC has announced it is relocating its Glasgow office to the newly refurbished Aurora building on Bothwell Street in 2025. The firm’s 488 people based in Glasgow will move from the current office also situated on Bothwell Street.

PwC UK has begun a major restructuring, creating a stand-alone technology and AI unit and reorganising several practice areas. The changes impact approximately 2,700 staff and partners, roughly a tenth of PwC's UK workforce. The changes, led by UK managing partner Laura Hinton, aim to simplify the b

Anna Anthony has been chosen as EY's new UK & Ireland regional managing partner, making her the first woman to permanently lead a Big Four firm in the UK. Currently head of EY's UK financial services division, Ms Anthony is responsible for over £1 billion of revenues, 250 Partners and 5,00

Deloitte UK partners have seen their average pay fall by £48,000 to £1.012 million in the year ending May 2024. This decrease comes despite a 2% rise in total revenue to £5.7 billion, driven by strong performance in tax, legal, and auditing. However, it remains the only Big Four fi

PwC UK partners have seen their average pay drop to £862,000 this year, a 5% decrease from £906,000 last year. This comes as the firm's revenue growth slowed to 9%, down from 16% the previous year. Profits also fell by 14% to £1.1 billion.

EY partners have been told to expect a second consecutive year of pay cuts, while many senior staff will not receive a salary increase this year.