The Big 4 actually refers to the largest accounting firms in the world. All four of these firms offer extensive accounting services including taxation, management, business consultancy, accounting and auditing, and risk management. They employ a massive amount of accountants and auditors around the world and the top people within these firms include the following.
In each country, Deloitte has an executive team who oversees the operation of the company within that country. In the United States the CEO is Joe Echevarria who joined the firm in 1978 and became an audit partner in 1988. The company’s chairman of the board is Punit Renjen who has held numerous leadership roles within Deloitte. Canada’s Managing Partner and Chief Executive is Frank Vettese, while the United Kingdom’s Senior Partner and Chief Executive is David Sproul.
Pricewaterhouse Coopers employs 170,000 people in 154 countries. It was formed when two large accounting firms Price Waterhouse and Coopers & Lybrand merged in 1998. In Canada, the CEO and Senior Partner is Bill McFarland and the Managing Partner is Gino Scapillati. In the United States, the Chairman and Senior Partner is Robert E. Moritz and the Chairman of PwC International is Dennis M Nally.
Ernst & Young
In 1989, Ernst & Whinney merged with Arthur Young to form Ernst & Young, an international organization with offices in over 140 countries. The CEO in the Canadian office is James S. Turley while the Chairman is Trent Henry. AMP (Area Managing Partner) Americas is Steve Howe Jr. The Pacific region has Lou Pagnutti and Japan Has Yoshitaka Kato. In the United Kingdom, Steve Varley holds the Chairman and Managing Partner position, while Robin Tye holds the Chief Operating Officer position.
Klynveld Peat Marwick Goerdeler (KPMG)
KPMG is an international network of accounting firms which provide tax, advisory roles, audit and industry specific services. The company operates in over 140 countries around the world and was formed in 1987 after a merger of Peat Marwick International and Klynveld Goerdeler. The top executives include Chairman Michael Andrew, Deputy Chairman, Alan Buckle and for the America’s region, Chairman John Veilmeyer. For Europe, Middle East, Asia and India, you have Chairman Rolf Nonnenmacher and Jean-Luc Decornoy and for Asia Pacific region, the Chairman is Hideyo Uchiyama.
While there are many more international executive teams to be listed, you get an idea of how large these companies are and the enormous responsibility of the executive teams.
Tags: auditing firms, Big 4
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When you do business with Deloitte you’re dealing with a company with firm roots and many fruitful branches. Deloitte proudly ranks as one of the Big Four professional services powerhouses today alongside other well-known companies such as Pricewaterhousecoopers, Ernst & Young, and KPMG.
By revenue Deloitte ranks second in the world and also has over 150,000 employees and associates in over 150 countries. The original parent firm is a UK based company which evolved from an earlier partnership of two well-known accounting firms. The present day firm is international with global headquarters in New York City, it is very much multifaceted and also known as Deloitte Touche Tohmatsu (AKA: “DTT”).
The beginnings of the Deloitte accountancy firm go back to William Welch Deloitte in England of 1854 who founded his company at the very young ago of only 25 and with only one client, the national railway of the day. Already, at this very young age, Mr. Deloitte was showing his leadership and professional commitment.
Showing the international vision that is still characteristic of the company today, Mr. Deloitte expanded his firm to the US in 1893 where he soon acquired as a client the company later to become known as Proctor and Gamble.
About this same time another giant in the accountancy profession was arriving on the scene…George Touch in England. Mr. Touch became an accountant in Edinburgh in 1883 and by 1899 his firm and reputation had grown substantially.
He had added the ‘e’ to the end of his name because he was tired of people mispronouncing it, and he had formed the firm George A. Touche. In 1900 he took a partner, John Niven and opened the firm Touche Niven in New York City which later spread all across the US.
Much later, across the Pacific in the emerging industrial giant of Japan, the Japanese accounting firm of Tomatsu was established by Japanese Navy Admiral Nobuzo Tohmatsu with the help of one of his former students, Iwao Tomita. In 1975 this firm became part of the associated network of companies known as Deloitte, Touche, Tohmatsu.
The brand name of “Deloitte” today is actually a world-wide consortium of like-minded, independent professionals specializing primarily in auditing, consulting, financial advice, tax matters and risk management….all operating under the umbrella of Deloitte, Touch, Tohmatsu Ltd., also referred to as DTTL, registered in the UK as a private company limited by guarantee.
Each member firm is stringently vetted before being admitted into the umbrella organization but operates under their local laws and best-practices. They are directly responsible to their clients for their work and bring a wealth of local expertise to their clients whether those clients be local, regional or international.
The advantage of dealing with DTTL is their diversity of strength from having multiple members often even in the same country. This means that no matter what the client needs in the way of industry familiarization, professional specialty or geographical proximity…they’ve got it. This insight and innovation mean that DTTL can help clients excel anywhere in the world they want to do business.
DTTL places strong emphasis on quality service as especially evident in their auditing function wherein they are ever mindful of the public trust bestowed up them. DTTL feels very strongly that professional competence should go hand-in-hand with professional integrity in everything they do both within and without the organization.
Even though DTTL’s history goes back almost 100 years, they are very much aware of their opportunity and responsibility to ‘give back’ to the community. For that reason, they established The Deloitte Foundation which leads two community programs that support over 20,000 disabled young people with sporting activities and help teach them valuable skills for employment.
In order to promote professionalism and best-practices within the accounting community at large, DTTL established The Deloitte Academy which assists corporate and Board level executives in applying quantitative decision making skills relative to asset management within their areas of responsibility.
This is but a brief overview of Deloitte, Touche, Tohmatsu, Ltd. Wherever you are and whatever your consultancy issue or problem, DTTL is ready and willing to discuss your needs and to serve you.
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Anyone entering the accounting or tax field is going to know who the Big 4 are when it comes to auditing. But for those who may not quite be in the know they are as follows: PricewaterhouseCoopers, Deloitte Touche Tohmatsu Limited (better known as Deloitte), Ernst & Young and KPMG. While we can’t exactly give you the differences between them in terms of employment, we can provide you with a brief overview of each company.
PricewaterhouseCoopers. Based in London, England it is the largest auditing firm in the world, dwarfing the others in the Big 4 in terms of size. There is literally not a spot on the planet in which PricewaterhouseCoopers does not have a presence. Indeed, they are in over 150 countries and close to 800 cities. The two firms, Price Waterhouse and Coopers & Lybrand which make up PricewaterhouseCoopers have their roots all the way back to the 19th century.
Deloitte. Headquartered in New York City, they are second only to PricewaterhouseCoopers in terms of revenue, but not by much. Like PwC, they are in over 150 nations and employ between 190,000 and 200,000 people in a variety of services such as financial advisory, enterprise risk, and various forms of consulting, taxes and of course auditing.
Ernst & Young. Number three among the Big 4 and like PricewaterhouseCoopers, based in London, Ernst & Young has offices in over 140 countries. What they basically are is an organization of member firms. All of the Big 4 have grown to be to where they are by virtue of mergers, but none more so than Ernst & Young. Although, as mentioned above they are London-based, they are, according to Forbes magazine, the 8th largest private company in the United States.
KPMG. They may be the fourth among the top auditing firms, but make no mistake about it, KPMG is by no means a small company, as evidenced by the fact that they have close to 150,000 employees. Their services basically cover three lines, those being advisory, tax and audit. However, their advisory services consist of three categories as well. They are Transactions & Restructuring, Risk Consulting and Management Consulting.
You can clearly see that there is good reason for curiosity about these companies by those looking to enter the tax and accounting profession. There are job opportunities galore with these firms. And if one is good at what they do they can pull down a very good living working for one of the Big 4.
Tags: auditing firms, Big 4
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International accountancy firm Mazars is delighted to announce that VAT specialist Vincent McCullagh has joined its tax practice as a Partner.
Previously a Director with Deloitte Ireland, Vinny has over 12 years experience in VAT, having worked extensively in the UK and Ireland. His particular areas of expertise lie in financial services, VAT issues facing the multi- national and indigenous listed sector, and VAT on property. He has written and presented widely on indirect tax and is the author of VAT on Property, the leading text on Irish VAT on property.
Mazars’ National Head of Tax Tim Davies says: “I’m delighted to welcome Vinny on board. He has accomplished a great deal in his career to date and I have no doubt he will prove a major asset to the team, and to our clients.”
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PricewaterhouseCoopers has announced that from 1 February 2012 one of the most respected tax experts in Poland, Janusz Fiszer, has joined the partnership.
Dr. Fiszer is a legal advisor and tax advisor, a graduate of Warsaw University Faculty of Law and Doctor of Law.
Prior to joining PwC, Dr. Fiszer served as a partner in the international law firm White & Case.
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Ernst & Young LLP today announced that seasoned tax professional Tremaine “Trim” Smith joined its Indirect, State and Local Tax practice in Seattle, Washington.
Smith is the former Deputy Director of the Washington Department of Revenue, where he spent his entire career. At the Department of Revenue, Smith oversaw more than 90 state tax programs across a variety of businesses and industries. He will leverage his deep knowledge of Washington’s unique tax system as the office’s resident Business and Occupation tax technical resource.
Digital goods taxation and cloud computing are just two of Smith’s areas of focus. He is a highly respected tax resource on emerging business issues and recently represented Washington on the national stage in streamlining sales taxes across a number of states and creating common definitions.
“Trim’s 33 years of Washington State tax experience, coupled with his intimate knowledge of Washington’s biggest companies and of companies who do business in the state, make him an ideal fit for Ernst & Young’s growing Indirect Tax practice,” said Dan Smith, managing partner for Ernst & Young LLP’s Seattle office.
“Trim’s knowledge will help our clients as they confront emerging tax challenges in the state and across the country,” said Gary Holcomb, State and Local Tax Market Leader for Ernst & Young LLP’s Seattle office. “Adding Trim to our team of 11 Washington-based state and local tax professionals enhances the top-quality service we provide to companies across the state.”
In 2009, Smith received the Wade Anderson Memorial Medal for Leadership in Interstate Tax Cooperation. He received Governor’s awards for Distinguished Management Leadership in 2005 and for Quality and Performance in 2004. Smith earned his Bachelor’s degree in Business Administration from Washington State University. He regularly speaks at industry-wide conferences and has authored numerous articles on tax and accounting-related issues.
Tags: Tax Partner Jobs
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Deloitte Belgium has announced that it has expanded its current Tax practice with a new Research &Development Tax Incentives service line. The appointment of IP specialist Francois Gevers completes the newly dedicated multidisciplinary team. This specialised ???R&D Tax Incentives??? team, a first in Belgium, will be integrated into the Deloitte Global R&D network, and will focus on the development and implementation of Belgian and foreign tax facilities. The team will also focus on research operations and Intellectual Property structuring.
Deloitte is the first service provider in the Belgian market offering a service that is entirely dedicated to tax optimization with regards to R&D. Offering a partial 75% reduction of professional withholding tax for qualifying researchers, a R&D investment deduction or tax credit and a favorable tax regime for patent income, makes the Belgian R&D Tax incentives and IP tax regime currently among the best in the EU. In addition, R&D is becoming increasingly important for many Belgian companies. Accordingly, there is a clear market demand for a dedicated service.
The R&D Tax Incentives team will offer a variety of services, such as assisting clients in optimizing their R&D claims, assessing potential R&D tax benefits and compiling the appropriate documentation for audits. One of this team’s biggest assets is definitely the combination of tax specialists with the knowledge of professionals such as, engineers, scientists and IT specialists who can understand the technological and scientific aspects of R&D at Belgian companies.
Patrick Brauns, Tax Partner at Deloitte Belgium, stated; “As part of our comprehensive approach, we do not view R&D and IP in isolation. Instead, we consider them together with our clients in the context of their operations. Our team is fully integrated into the Deloitte Global R&D network. This network allows us to develop and implement overall strategic planning for our clients”.
The Deloitte Global R&D team is capable of providing insight into several local tax regimes and more specifically into getting a clearer view on the opportunities and risks that cross-border interactions can bring to multinational organizations.
Piet Vandendriessche, Tax Managing Partner at Deloitte Belgium confirmed, “We are convinced that focus and specialization are key for success and growth, and that is of course what we want to achieve. Moreover, recent wins show that there is a market for these specific services”.
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PricewaterhouseCoopers (PwC), Ireland’s largest professional services firm, has announced the admission of Yvonne Thompson as a financial services tax partner effective 1 July 2010.Speaking at the announcement, Ronan Murphy, Senior Partner, PwC said:
“As a Firm we continue to support our clients to position their organisations for the economic upturn and ensure they emerge as strong businesses for the future. The admission of Yvonne to the partnership will strengthen our Financial Services team as we continue to serve our domestic and international banking and insurance clients.”
Yvonne Thompson works with the PwC Financial Services Tax Practice in Ireland, specialising in the corporate taxation of banking, insurance and leasing operations. With over 15 years’ experience, she has significant experience in advising on domestic and international taxation matters, including international tax structuring through Ireland, foreign tax transaction issues and the taxation of capital market transactions.
Yvonne is a fellow of the Institute of Chartered Accountants in Ireland.
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KPMG in the UK announces that Alastair McLeish will become UK Head of Tax and Pensions with effect from 1 July 2010.
He succeeds Sue Bonney who will continue to work with the UK tax practice, spearheading a drive to embed more tax solutions within KPMG’s advisory services.?? She will remain Head of Tax at KPMG Europe LLP.
Jane McCormick will become head of corporate tax at KPMG in the UK.
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