Overall, KPMG, Deloitte, PwC and EY have raked in $167 billion this year, a windfall that should ease the pain of their advisory businesses having to go solo under an auditing overhaul expected shortly from the UK.
The government wants to prevent a repeat of high-profile collapses like retailer BHS and outsourcing firm Carillion by stopping the big firms seeing bean-counting as a means to an end for their higher-value consultancy work.
That probably means higher audit fees for corporates, and fewer cross-selling opportunities for the consultancy giants. After a bumper 2021, it’s hard to feel much sympathy.
source https://www.suchtv.pk/business/item/110075-kpmg.html
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