Financial Times (December 9)
“The Big Four accounting firms have recorded their strongest financial performance since the collapse of Enron as corporate clients rushed to transform their businesses during the coronavirus pandemic.” Revenues soared to over $167 billion, collectively, in spite of “continued criticism of the structure and performance of the firms, especially in audits, including scrutiny of EY’s failure to identify fraud at Wirecard.”
Tags: Accounting firms, Audits, Big Four, Clients, Collapse, Coronavirus, Criticism, Enron, EY, Failure, Financial performance, Fraud, Pandemic, Revenues, Scrutiny, Transform
The Economist (November 23)
Management consulting is being disrupted. “Advice on strategy, which used to be meat and potatoes for firms like McKinsey and its peers, Bain and the Boston Consulting Group (BCG), is now a side dish; it accounts for about a tenth of revenues.” These days clients “want consultants to provide and install products, including new technologies, that transform them from top to bottom and keep disrupters at bay.”
Tags: Advice, Bain, BCG, Clients, Disrupted, Management consulting, McKinsey, Revenues, Strategy, Technologies, Transform
