Historically, among the leading accounting firms that formed what is now known as the Big Four, PwC (PricewaterhouseCoopers) held the No. 1 position through its predecessor, Price, Waterhouse and Co.
The Evolution of the Big Four
The "Big Four" refers to the four largest professional services networks in the world, encompassing Deloitte, EY (Ernst & Young), KPMG, and PwC. These firms provide a wide array of services, including audit, assurance, tax, consulting, advisory, actuarial, and legal services to global corporations.
The current Big Four evolved from a larger group of dominant accounting firms that were once known as the "Big Eight" in the 1970s and 1980s. Through a series of mergers and acquisitions over several decades, this group consolidated into the Big Six, then the Big Five, and ultimately the Big Four we recognize today.
PwC's Historical Rank
In historical rankings of these prominent firms from the Big Eight era, Price, Waterhouse and Co., which later merged to become a key part of PwC, consistently held the top spot. This foundational ranking reflects its significant influence and market presence from early on.
Here's how some of the predecessors of today's Big Four firms were historically ranked:
| Historical Rank (Big Eight Era) | Original Firm Name | Current Big Four Firm |
|---|---|---|
| 1 | Price, Waterhouse and Co. | PwC |
| 2 | Haskins and Sells | Deloitte |
| 3 | Ernst and Ernst | EY |
| 4 | Peat, Marwick, Mitchell and Co. | KPMG |
This historical No. 1 position for Price, Waterhouse and Co. established a legacy of leadership that continues with PwC today, influencing its standing within the global professional services landscape.
Understanding "No. 1" in Today's Landscape
While historical rankings provide valuable context, determining the "No. 1" firm in the contemporary Big Four landscape can be fluid and often depends on the specific metric used. Firms might lead in different categories such as:
- Global Revenue: The firm with the highest annual earnings.
- Number of Employees: The firm with the largest global workforce.
- Market Share: Dominance in specific service lines (e.g., audit, tax, advisory) or geographic regions.
Each of the Big Four firms demonstrates leadership in various aspects, continuously competing for top positions based on these dynamic metrics. For more information on the current landscape and services of these firms, you can refer to the Big Four accounting firms Wikipedia page.
