Are you sure you’re getting value from the “Big 4”? There is a common saying in the world of management consultancy and project management that “no-one ever got fired for hiring Deloitte (insert your own name for one of the other four).
A Reuters news report caught my attention recently. It focused on an analysis of the UK accounting watchdog, which announced it might ban firms from providing consultancy work to those firms whose books they audit. There have been many examples recently, such as the collapses at Carillion and BHS, that have lead the Financial Reporting Council (FRC) to the point of announcing a new “strategic focus” to ensure that financial audits are better serving the public interest.