The Fall of the Giants: What Went Wrong with Big-Name Auditors?
How PwC, Deloitte, EY, and KPMG Have Struggled with Scandals, Expansion, and Oversight Failures Introduction Auditors play an essential role in the global financial system, ensuring that corporations adhere to regulations and maintain transparent, trustworthy financial records. For decades, the world’s biggest audit firms—PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young (EY), and KPMG—have stood at the forefront of this industry. However, in recent years, these giants have been marred by scandals, fines, and widespread accusations of malpractice. Once trusted pillars of the corporate world, they are now often in the headlines for failing to detect or even condoning fraud. This article explores the factors behind the growing number of scandals in the audit industry. It looks at how expansion pressures, internal conflicts, and regulatory hurdles have eroded the reputation of the once-revered Big Four firms. Ultimately, the narrative reveals how these massive organizations have ...