Accounting Giants

Big Four Target Consulting in Europe

More consultants, more money. Source: Handelsblatt/Westend61
More consultants, more money.
  • Why it matters

    Why it matters

    It’s only a matter of time before the Big Four catch up with consultants like McKinsey or Boston Consulting.

  • Facts

    Facts

    • KPMG and PwC already generate more than €400 million in revenue from consulting.
    • Deloitte, EY, KPMG and PwC audit 90 percent of DAX companies.
    • Now they’re looking for more lucrative sources of revenue.
  • Audio

    Audio

  • Pdf

The Big Four audit firms are doing everything in their power to get a foothold in management consulting in Germany.

Between them, Deloitte, EY, KPMG and PwC have long dominated the business of auditing corporate accounts. Now they plan to use their contacts to offering strategic advice to companies.

“The management-consulting ambitions of big public accounting firms should be taken very seriously,” said Dietmar Fink, professor of management consulting at Bonn-Rhein-Sieg University.

Consulting is a lucrative business, with considerably higher margins than auditing. And a new European Union regulation – which will require companies to change auditors every 10 years – is also pushing the Big Four toward consulting.

In Germany, the big players in consulting are now companies like McKinsey & Co., Boston Consulting and Roland Berger.

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