Big Four

The Indian arms of Deloitte, PwC, EY, and KPMG outpaced their global counterparts in FY24, driven by booming demand for consulting services, with revenue set to surpass Rs 45,000 crore by FY25

Deloitte recently laid off around 250 advisory staff members in the UK, while EY's annual report on Thursday revealed a reduction of 2,450 employees over the past fiscal year, a first in 14 years

Deloitte India has over 500 of these architects and says there is a growing demand for them across the consultancy's clients

The idea that large companies need demand visibility to invest, so lower-income demand needs to be stimulated, does not hold water

The court also said that the firms, along with the partners, are also liable to reply to the ICAI notices

The Project Himalaya, announced last year, involves the merger of the delivery capabilities of consulting, risk, and advisory practices of its units in the US, the UK, and India

Interacting with the ICAI in Patna, Sitharaman sought a commitment from them to start work on the same as part of their 100-day agenda for Viksit Bharat by 2047

"The overall aim is to provide ease of growing practice and facilitate the Indian CA firms grow bigger," he said

Deloitte, KPMG, PwC and EY say business feel greater need for regulatory compliance after the coronavirus

Demand environment remains challenging for IT

About fifty organisations and 16 departments/ ministries outsourced work to these consultancy firms, which include PwC, Deloitte, Ernst & Young and KPMG, along with McKinsey & Company

The Big Four have overhauled their operations over the past few years to gain a wider share in the high-demand advisory and technology services firms

The consulting firms have gone into a temporary wait-and-watch mode on certain things in the Bill until a rulebook could clarify it for them

The big four are best known for their accounting and audit services globally. However, with time, they have added several more services to their work

KPMG has announced that it is laying off 2 per cent of its workforce at its office in the United States with an aim to keep costs low as the economy slows

How will EY's split shake up the sector? Is brand Bangalore being washed away by flood? Is broader markets' rally here to stay? What is quiet quitting? All answers here

EY is planning to split its audit and advisory businesses. It said that it was doing so to address regulatory concerns over potential conflicts of interest. Will this prompt others to follow suit?

Consumer goods firms' share in India Inc profit drops; EY, KPMG, PwC, Deloitte clock strong year - Read more in our morning briefing.

Tech adoption by businesses, rise of unicorns, M&A activity drive gains

Over the last six 'lockdown and unlock' months, Krishan spend relentless hours on video calls and webinars to keep in regular touch with CXOs across India and abroad