Why are KPMG, EY, PwC and Deloitte not profitable?
Rarely does a week pass without a Big Four firm finding itself in the headlines for another regulatory fine. The data backs up this feeling. In figures seen by City AM, the Financial Reporting Council (FRC) has fined the Big Four giants over £154m, pre-discount, over the last five years. The majority of fines the FRC issues come with a discount, usually because the firm either admitted its mistakes or reported itself to the regulator. Despite being the smallest of the Big Four, KPMG is leading in total financial sanctions over that period, with 11 fines. The firm was hit with over £81.8m, pre-discount, in monetary sanctions. Click the link in our bio to read more of the story 🔗 #news #law #legal #legalservices #business #businessnews #economy #bigfour #kpmg #deloitte #pwc #ey #uk #uknews #ukeconomy #ukbusiness #uklaw #finance #account #accounting #profit #fines #auditing