Messrs. Gow and Kells have made an invaluable contribution, writing in an amused tone that nevertheless acknowledges the firms' immense power and the seriousness of their neglect of traditional responsibilities. 'The Big Four' will appeal to all those interested in the future of the profession--and of capitalism itself." —Jane Gleeson-White, Wall Street Journal With staffs that are collectively larger than the Russian army and combined revenues of over $130 billion a year, the Big Four accounting firms—Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG—are a keystone of global commerce. But leading scholar Ian Gow and award-winning author Stuart Kells warn that a house of cards may be about to fall. Stretching back to the Medicis in Renaissance Florence, this book is a fascinating story of wealth, power, and luck. The founders of the Big Four lived surprisingly colorful lives. Samuel Price, for example, married his own niece. Between the world wars, Nicholas Waterhouse collected postage stamps while also hosting decadent parties in his fashionable London home. All four firms have endured major calamities in recent decades. There have been hundreds of court cases and legal prosecutions for failed audits, tax scandals, and breaches of independence. The firms have come so close to “extinction level events” that regulators have required them to prepare “living wills.” And today, the Big Four face an uncertain future—thanks to their push into China, their vulnerability to digital disruption and competition, and the hazards of providing traditional services in a new era of transparency. This account of the past, present, and likely future of the Big Four is essential reading for anyone perplexed or fascinated by professional services, working or considering working in the industry, or simply curious about the fate of the global economy.
This volume examines Albania, Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia. Analysing major political and economic events in these countries from the mid-1990s to the present, a detailed and accessible guide is provided.
Originally published in 1995, this book brings together material from many sources and offers a balanced appreciation of the ways in which climatic changes can interact with society. The questions it discusses are as relevant now as when the book was published: how far should governments go in taking expensive and unpopular measures to reduce greenhouse gas emissions? Will the warming trend produce results as dire as have been predicted? It does not presuppose a background in science and extensive use is made of case studies drawn from around the world to put scientific principles into context. An invaluable book for those approaching the subject for the first time.
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