So you think you know all about the accounting industry and its roots? The origins of some of the largest accounting firms may surprise you.
Ernst & Young LLP
Employs 77,000 professionals in 130 countries. In 1979, Ernst & Ernst merged with Whinney, Murray & Co. to form Ernst & Whinney. In 1989, Ernst & Whinney merged with Arthur Young & Co. to become Ernst & Young LLP. Web site: www.ey.com.
Arthur Andersen
Founded in 1913, Arthur Andersen employs more than 70,000 in 83 countries. It acquired Financial Professional Services Inc. of Westlake in September 1997, and in 1998 acquired Kopperman & Wolf Co. of Cleveland. Arthur Andersen is part of Andersen Worldwide. Web site: www.arthurandersen.com.
Deloitte & Touche
Founded as Haskin & Sells, it became Deloitte Haskins & Sells. In 1989, the firm merged with Touche, Niven & Co. to become Deloitte & Touche. It employs 90,000 people at locations in 130 countries.
KPMG International
Founded as Peat Marwick in 1897. In 1925, it became Peat, Marwick, Mitchell & Co. In 1981, the firm merged with Kynveld Main Goerdeler to create KPMG Peat Marwick. The company employs 78,000 people in 145 countries. Web site: www.kpmg.com.
PricewaterhouseCoopers
Founded in 1849 by Samuel Lowell Price, it became Price, Waterhouse & Co. in 1865. On July 1, 1998, the firm merged with fellow Big Six member Coopers & Lybrand to form PricewaterhouseCoopers and rearrange the industry as the Big Five. PricewaterhouseCoopers employs 150,000 people in more than 150 countries. Web site: www.pw.com.
Grant Thornton LLP
Founded in 1924 in Chicago, Grant Thornton employs 19,000 people in 96 countries. While not one of the Big Five, Grant Thornton is one step below, serving a similar clientele but focusing on entrepreneurial growing companies in the middle market sector. Web site: www.gt.com.
