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What are the main differences btw the big four accounting firms?
We are a small emerging Tech firm and we are looking to go IPO in the next few years- which firm deals most with these types of situations?
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2 Answers
In general, you can use any one of the big six firms, which include KPMG, Deloitte, PricewaterhouseCoopers, Ernst & Young, Grant Thornton and BDO Seidman. All these firms deal with public companies extensively.
However before you rush out and hire one of these firms, or any firm, you should examine how realistic it is that you can go public; it is very difficult and few firms try it and fewer succeed. Your more logical exit may be an acquisition. If you have acquisition in mind, there are many more accounting firms from local through regional that can do a fine job.
Also before you sign up for an audit, make sure your financial organization is capable of dealing with the audit demands, which are considerable. If you have all this, I strongly support getting audited; if not, wait until you have more infrastructure in your business.
The big 4 have brand value, supported by world wide presence and national presence across major cities. This will be good from the consultancy point of view but I really don't see the need for engaging big 4 for audit, particularly when their track record is not that impressive in the context of major frauds that have taken place in major companies and more so in India.
The brand value is so powerful that their recall value is very high and other firms of equal competence in the field of audit do not attract the attention of the managements to engage their services.
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