How Did the Big Four Auditors Get $17 Billion in Revenue Growth? Not From Auditing | WSJ
Consulting is now a cash cow for accounting firms, raising concerns about conflicts of interest At the Big Four accounting firms—Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG—total global revenue from consulting and advisory work now exceeds traditional auditing, where revenue has been relatively flat. PHOTO: REUTERS(2); ZUMA PRESS(2) By Michael Rapoport April 7, 2018 7:00 a.m. ET Audit firms have a tough job. Some critics think they shouldn’t have a second one. For years, the Big Four accounting firms have pushed into consulting, seeking growth their core auditing businesses weren’t providing. Since 2012, the firms’ combined global revenue from consulting and other advisory work has risen 44%, compared with just 3% growth from auditing. The result is that the bulk…