Accounting Leaders About To Flip Their Pecking Order.Business EditorsATLANTA--(BUSINESS WIRE)--April 18, 2000 Unloading Unloading Selling securities or commodities whose prices are dropping to minimize loss. slow-growth consulting operations will bring big changes. Deloitte & Touche to unseat Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing . Look for the hierarchy of the nation's biggest public accounting firms to be turned upside-down by this time next year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an exclusive new research report by Public Accounting Report (http://www.straffordpub.com/products/acnatsrv/index.html). That's because all of the Big Five except Deloitte & Touche are in negotiations to part company with all or part of their consulting operations, despite the huge gains they have reaped from consulting over the last decade. Public Accounting Report's Annual Survey of National Accounting Firms - 2000 (http://www.straffordpub.com/products/acnatsrv/index.html) estimated that if the firms follow through with plans to sell, spin off or divorce from consulting businesses, then Deloitte & Touche would unseat Andersen Worldwide Andersen Worldwide Société Coopérative (AWSC) was a Swiss-based entity which managed the global offices of accounting firm Arthur Andersen. It was also the parent corporation of Andersen Consulting (now called Accenture) before its split in 2000. as the nation's biggest accounting firm, followed by Ernst & Young, KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , PricewaterhouseCoopers, and Andersen Worldwide. Currently, Andersen Worldwide is the largest with $7.69 billion (estimated) in fiscal 1999 U.S. net revenue, followed by PricewaterhouseCoopers at $6.96 billion, Ernst & Young at $6.52 billion (estimated), Deloitte & Touche at $5.34 billion, KPMG at $4.11 billion, and the Second Tier Firms, Grant Thornton Thornton, city (1990 pop. 55,031), Adams co., NE Colo., a residential and industrial suburb of Denver; inc. 1956. Industries include oil and gas development and the production of computer graphics systems, wood products, coffee and tea, building components, infant at $375 million and BDO Seidman BDO Seidman, LLP is the United States arm of BDO International, one of the largest accounting firms outside of the Big Four. History BDO Seidman, LLP was founded as Seidman and Seidman in New York City in 1910 by Maximillian L. Seidman. at $298 million. Because this year the nation's largest accounting firms experienced only routine performance from their consulting practices, rather than the rampaging growth of recent years, their average growth rate fell significantly. This is the first time in five years the growth rate hasn't has·n't Contraction of has not. hasn't has not hasn't have increased, the Public Accounting Report Annual Survey found. The seven biggest firms expanded their U.S. net revenue by an average 18.2% in fiscal 1999, significantly below the 26.4% growth for the group a year earlier, and the smallest increase in three years. Public Accounting Report's Annual Survey of National Accounting Firms - 2000 is the most authoritative and complete analysis of global revenues, practice breakdowns, staffing numbers and other key indicators of the public accounting profession. Note to Editors: Public Accounting Report (http://www.straffordpub.com/p roducts/par/index.html), the oldest and most widely circulated independent newsletter of the public accounting profession, is published by Atlanta-based Strafford Publications, Inc. To view excerpts of the 2000 survey online, go to http://www.straffordpub.com/products/acnatsrv/index.html. Reporters wanting a full copy of the survey edition can phone Executive Editor Jon McKenna at (800) 926-7926. |
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