Big Four Scandal

The Big Four scandal involved four major accounting firms—Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG—facing criticism or scandal over their role in auditing companies and advising clients, sometimes leading to conflicts of interest or breaches of ethical standards. While not a single unified scandal, issues arose from concerns about auditors being too close to their clients, compromising objectivity and independence. These firms are vital in ensuring financial transparency and accuracy, but such controversies highlight the importance of strict oversight and ethical practices in maintaining public trust in financial reporting.