Big 4 chinese
The big 4 accounting firms of china are not who you think
Professor Jeffrey Towson of Peking University observes that foreign companies in China have followed a trend. They come in and have a good run for a few years. The local businesses then learn, gain market share, and gradually push the foreigners out of the market. From smartphones to real estate, this story has played out in a number of industries.
However, in the area of accounting, this has yet to be the case. The major western accounting firms continue to dominate China’s accounting industry more than three decades into the modern period. The five largest Chinese accounting firms by revenue – and some of the fastest-growing – are PricewaterhouseCoopers Zhong Tian, Deloitte Huayong, BDO China Shu Lun Pan, Ernst & Young Hua Ming, and KPMG Huazhen.
The stakes are high: the top ten Chinese accounting firms collectively made over $4 billion in revenue in 2017. Professor Paul Gillis, a colleague of Towson’s, reports that PwC, China’s largest accounting company, hires about 13,000 employees. With more workers than PwC’s UK arm, he sees it soon becoming the firm’s second-largest division.
Prof. horst löchel on the big four chinese banks and the
For many years, I’ve been following the evolution of the accounting profession in China. Since 2011, I’ve been publishing a list of China’s top 100 accounting firms on this site, based on data from the Chinese Institute of CPAs (CICPA). The CICPA used to publish this informational in the same format every year, but stopped after publishing the 2015 data in 2016. However, data for 2017 has now been published, although in a slightly different format. It’s uncertain whether or not the recorded figures are comparable. Here are the 2017 rankings:
The rankings have shifted dramatically. The Big Four have enjoyed a 20 percent sales increase in the last two years, while local companies have seen a modest revenue decrease of less than 1%. The Big Four’s share of the Top 100 market has risen from 27% to 34%, a dramatic turnaround from previous years’ market share declines. Regulatory behavior, I believe, are to blame for local firms’ poor results. Due to audit irregularities, Chinese regulators shut down two of the country’s largest companies for several months in early 2017. Ruihua, which was ranked second in 2015 and which I expected would overtake PwC to take first place, saw a 29 percent drop in revenue. With anemic sales growth of 5%, BDO, which was ranked third in 2015, has fallen to fourth. Although I am in favor of rigorous auditing laws, I am worried that the Chinese scheme is unfair to large local firms that audit thousands of publicly traded companies. The CICPA has revealed the split between audit and non-audit revenues at companies for the first time. Audit accounts for 84 percent of the Big Four’s sales, while local companies account for 86 percent. These rates are far higher than those of other countries’ accounting firms. The Herfindahl-Hirschman Index of 498 is higher than the previous indicator of 444 two years ago, but still far below the 1500 typical of Western economies.
A big scoop (一大勺) | family | chinese | by little fox
The Big Four (or Big 4) is a colloquial term for the four major banks in many countries where the banking sector is regulated by only four institutions, and the word has gained currency as a result.
Is the big 4 facing a bleak future in china?– interview with
1st Some countries have more or fewer institutions in their rankings, giving rise to names like Big Three, Big Five, or Big Six.
The “big four banks” in Australia refer to the country’s four largest banks by market share, which together control 80% of the country’s home loan market. Their cumulative gross asset value in 2012 is A$2.66 trillion, or roughly 200 percent of Australian GDP in 2011. The following are listed in order of total assets:
The “four pillars policy” has been a long-standing policy of the Australian federal government to uphold the status quo. During the Global Recession of 2008–09, the strategy was retained when Westpac acquired St.George Bank and the Commonwealth Bank acquired Bankwest, reinforcing the “big four’s” unique status.
Being New Zealand’s closest neighbor, with good cultural and economic links, has aided Australia’s supremacy in the banking sector. The “Big Four” Australian banks, also known as the “big banks” or the “big Aussie banks,” dominate the New Zealand banking sector in the form of:
The big green forest 4: where can we play? (绿色的大森林4
Mr. KAM began his career with one of the Big Four multinational accounting firms and is now a partner in the Sydney-based chartered accounting company Kam & Beadman. http://www.vindapaper.com/
It’s because, during previous discussions on clause 399, Members hoped to threaten larger accounting companies, and given my job status, I don’t think it’s acceptable for me to vote because I don’t want Ernst & Young in Pakistan. He is also a fellow member of the Institute of Chartered Secretaries and Managers (FICS) and the Pakistan Institute of Public Finance Accountants (FPFA).
Albert entered a “Big 4” multinational accounting company in Hong Kong and practiced for 8 years before entering CCIF CPA Ltd. and is now an Executive Director of Crowe Horwath Tax Services (HK) Ltd. after working for four and a half years in the Hong Kong Inland Revenue Department under the Profits Tax, Property Tax, and Wages Tax Divisions. crowehorwath.net is a website that specializes in crowehorwath.