2009 Big Four Firms Performance Analysis
Big4.com analyses the resilience of accounting as a profession despite the recession. Despite the world’s worst financial crisis for over 70 years, the Big Four firms turned in quite a creditable performance, with revenues falling only by a small percentage in local currency terms.
Even with staff layoffs in 2008 and 2009 at the Big Four firms, in fact, there has been net recruitment. Yet professional to partner ratio is down to 11 from 14, an indicator of how much tougher it is to advance to partnership. Also analysed is the geographic concentration of growth (Asia and BRIC) and service lines (advisory), plus how the Big Four stack up in terms of revenues. This is valuable information for the financial professional looking at whether to become a practitioner or a corporate executive.