BIG 4
Financial Dictionary — Accounting Profession
Definition
Big Four The four largest public accounting firms in the U.S.: Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers. Typically, these four firms perform the audits of the largest publicly-traded corporations. In the UK, the four large clearing banks: Barclays, Midland, Lloyds and National Westminster. In Japan the largest securities houses: Daiwa, Nikko, Nomura and Yamaichi.
Detailed Explanation
“Big 4” refers to the four largest global professional services firms widely known for audit and advisory services: Deloitte, EY, KPMG, and PwC. They audit many large listed companies.
Common Uses
- Used to explain the concept in accounting and business contexts.
- Used when training staff or documenting procedures and policies.
- Used when training staff or documenting procedures and policies.
Practical Example
- Example: Teams reference **BIG 4** when defining terms in manuals, policies, or training materials.
Why This Term Matters
- Why it matters: Improves clarity and consistency across documentation and decision-making.