Professional services network in the context of "PricewaterhouseCoopers"

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⭐ Core Definition: Professional services network

Professional services networks are business networks of independent firms who come together to provide professional services to clients through an organized framework. They are notably found in law and accounting. Any profession that operates in one location, but has clients in multiple locations, may provide potential members for a professional network. This entry focuses on accounting, legal, multidisciplinary and specialty practice networks. According to statistics from 2010, members of these networks employ more than one million professionals and staff and have cumulative annual revenues that exceed $200 billion.

The accounting networks developed first to meet the US Securities and Exchange Commission's requirement for public company audits. They include the well-known accounting networks like PwC, Deloitte, Ernst & Young and KPMG (also known as the Big 4 Audit Firms) as well as more than 30 other accounting networks and associations. They are highly structured entities.

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👉 Professional services network in the context of PricewaterhouseCoopers

PricewaterhouseCoopers, also known as PwC, is a British multinational professional services network based in London, United Kingdom.

It is the second-largest professional services network in the world and is one of the Big Four accounting firms, along with Deloitte, EY, and KPMG. The PwC network is overseen by PricewaterhouseCoopers International Limited, an English private company limited by guarantee.

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Professional services network in the context of KPMG

KPMG International Limited is a British multinational professional services network, based in London, United Kingdom. It is one of the Big Four accounting firms, along with Ernst & Young (EY), Deloitte, and PwC. As of December 2024, KPMG comprised 46 firms.

The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler". The initialism was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.

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Professional services network in the context of Big Four accounting firms

The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with Fortune 500 companies.

The Big Four all offer audit, assurance, taxation, management consulting, valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. Until the late 20th century, the market for professional services was dominated by eight networks which were nicknamed the "Big Eight". The Big Eight consisted of Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskins and Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross.

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Professional services network in the context of Deloitte

Deloitte is a British multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along with EY, KPMG, and PwC. The Deloitte network is composed of member firms of Deloitte Touche Tohmatsu Limited (/dəˈlɔɪt ˈtʃ tˈmɑːts/ də-LOYT TOOSH toh-MAHT-soo) a private company limited by guarantee incorporated in England and Wales.

The firm was founded by accountant William Welch Deloitte in London, England in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in 2013.

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Professional services network in the context of Ernst & Young

EY, previously known as Ernst & Young, is a British multinational professional services network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four professional services firms. The EY network is composed of member firms of Ernst & Young Global Limited, a UK company limited by guarantee.

EY is one of the largest professional services networks in the world. It primarily provides assurance, tax, information technology services (including managed services in areas like Cybersecurity, Cloud, Digital Transformation and AI), consulting, and advisory services to its clients.

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Professional services network in the context of Accounting network

An accounting network or accounting association is a professional services network whose principal purpose is to provide members resources to assist the clients around the world and hence reduce the uncertainty by bringing together a greater number of resources to work on a problem. The networks and associations operate independently of the independent members. The largest accounting networks are known as the Big Four.

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