The movement of the 15 companies of the Big 4 in 2008Updated: 03-09-2009 |

They are called the Big 4 because there are only four, but the global advisory giants, PricewaterhouseCoopers, KPMG, Deloitte and Ernst&Young, each operate on the Romanian market through several firms, a total of 15, covering the main lines of business.

The largest profit on the local market by a Big Four firm was posted by PricewaterhouseCoopers Management Consultants SRL, at some €4 million, while Ernst&Young SRL claimed supremacy the previous year. According to the Ministry of Finance, the latter posted higher turnover last year, at €32 million, surpassing KPMG Romania SRL, with €31.3 mln.

The largest share of "productivity" belongs to the Ernst&Young Assurance Services firm, which posted revenue worth €7.8 mln in 2008, with only two employees, which means each yielded business worth some €4 million.

The most spectacular year-on-year evolution belongs to KPMG Financial Advisory Services, whose turnover increased fourfold to €5.2 million, from €1.3 mln in 2007, while PwC Management Consultants also posted a very significant 250 percent advance in 2008, to €11.6 mln.

The financial results published on the site of the Ministry of Finance cannot be consolidated at the level of each group of companies, because the respective firms can carry out intra-group business, which skews the whole image. While it is difficult to determine a clear hierarchy on the local market, one thing is clear: PwC retained its top spot last year among the Big 4 for several years.

Deloitte was the only Big 4 firm that clearly posted its turnover and profit at the group level for 2008, worth €34.5 million and €1.1 mln, respectively. The reluctance on the part of other firms to comment on their financial results for 2008 is justified by the fact that the group level fiscal year does not coincide with the calendar year of Romania's fiscal code.

money.ro