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ID: 2338342 • Letter: P
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Why is it difficult to say with certainty which are the largest CPA firms or alliances? Does the answer to the question sometimes change, depending on what kind of entity is audited? Does the answer to the question sometimes change, depending on what country or geographic region one is considering? Do CPA firms provide services other than audits? Give your view on what are the most important CPA firms or alliances. Provide evidence supporting your viewExplanation / Answer
It is diffcicult to say with certainity aboout which are the largest CPA Firms. Certaily, we think about the BIG 4s Delliote, Ernst & Young, KPMG and PWC make up this term BIG 4. They are certainly one of the biggest firms all over the worlds.
The veracity of Size of Firms will depened on kind of Audit that is to be done and the kind of entity that is to be audited. Also, the Geographical Presence is Mandatory. One Firm may be th Biggest in US but may not be functioning in that area where the accounts are to be audited. THe Senior Employees are named as p[artners in big Firms which shows their increased size but these partners are basically Partners on Paper as they recieve salary an no shre in profits. Even, they dont have the Authority to vote for CEO.
CPA firms provide a vast range of services like, risk management, Internal Control Assessment, Forensic Audit and many other.
Big 4 usually refers to the four largest accounting and auditing firms: PricewaterhouseCoopers, Deloitte, Ernst & Young, and KPMG. These CPA firms perform most of the audits which are required for U.S. corporations.Thay also are listed on Stock Exchange
Delliote, with its headquarters in United Kingdom,having 286,200 employees reported Net Revenue of $43.2bn in 2018.
PwC, with its headquarters in United Kingdom,having 236,235 employees reported Net Revenue of $37.7bn in 2017.
EY, with its headquarters in United Kingdom,having 260,000 employees reported Net Revenue of $34.8bn in 2018.
KPMG, with its headquarters in Netherlands,having 197,263 employees reported Net Revenue of $36.4bn in 2017.
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