Key Points
MUMBAI: India Incs increasing eagerness to professionalise decision making and invest in moat-widening technologies was manifest in the record $4 billion annual revenue haul for the Big Four locally, marking a deepening of their corporate relationships beyond audits and taxation support through a period that saw EY go ahead of its peers with a top line of about Rs 11,400 crore...
Combined revenues of EY, KPMG, Deloitte and PwC crossed Rs 32,700 crore last year, highlighting the expansion in the scope of services being offered by the Big 4 in a country that ranks among the top three in the world on the number of listed firms...
Traditionally, the Big 4 firms have primarily been associated with audit and tax services, while the MBB (McKinsey, BCG and Bain) were the undisputed leaders in strategy consulting..
Over the past few years, however, the Big 4 have quickly transformed into high-demand advisory and technology services firms, with consulting and technology emerging as the most rapidly expanding revenue streams in the post-Covid era..
For these firms, auditing services now account for less than 15% of total revenue from a disproportionate majority only a decade and a half ago, with EY, Deloitte and PwC not actively trying to expand this service line due to associated risks..
