Big Four

PwC has withdrawn from over a dozen countries, severing ties with member firms deemed too small, risky, or unprofitable as the accounting giant seeks to avoid further scandals. Most recently, the Big Four firm ended its relationship with 10 member firms across francophone Africa. This followed discu

EY has announced the selection of Alison Duncan as its next UK Chair, effective from 1 April. She is set to succeed Hywel Ball, who is retiring from the firm at the end of the financial year.   

EY is set to implement a significant partner redundancy round, potentially the largest in decades, as the firm grapples with a prolonged downturn in professional services. The Big Four firm, led by UK and Ireland managing partner Anna Anthony, plans to axe approximately 30 partners, primarily within

PwC UK has seen a record number of partners depart in 2024, alongside a pause in one of its apprenticeship programmes, as the firm grapples with profitability challenges. Analysis by the Financial Times revealed 123 partners left the firm last year, more than double the annual average since 2002. Th

KPMG executives are pushing for significant consolidation among its national partnerships, seeking to drastically reduce the Big Four firm's "economic units" from over 100 to just 32 by next year. This streamlining of operations and aims to enhance growth and represents a substantial acceleration of

Deloitte's US tax division has told staff that it will now factor office attendance into employee performance reviews, impacting bonus decisions. An internal email revealed staff are expected to collaborate in-person two to three days weekly, with compliance becoming a formal evaluation metric, Fina

Deloitte's UK office has distanced itself from its US counterpart by reaffirming its dedication to diversity, equity, and inclusion (DEI) targets. Richard Houston, head of Deloitte UK, assured staff that the firm remains "committed to our diversity goals" and will continue annual reporting on inclus

KPMG, PwC, Deloitte, and EY, have significantly reduced graduate hiring and shed thousands of jobs as they grapple with a prolonged downturn in the professional services sector.

The Big Four accounting firms EY and PwC are projected to miss their 2025 targets for female partner representation in the UK. EY, with the most ambitious goal of a 40% female equity partnership, currently stands at only 28%. PwC is also lagging, three percentage points behind its 30% target. W

PwC UK has initiated a new round of redundancies, trimming its workforce and delaying promotions for some junior staff, in response to a slowdown in the professional services sector. The over 25,000-employee firm, which provides audit, consulting, and tax services, has offered voluntary redundancy t

The Financial Reporting Council (FRC) has launched a probe into KPMG's audit of gambling giant Entain's 2022 accounts. Entain, which owns brands including Ladbrokes, Coral, and Bwin, paid a £615 million fine in 2023 as part of a deferred prosecution agreement relating to a bribery probe into i

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