Big Four

PwC UK partners have seen their average pay drop to £862,000 this year, a 5% decrease from £906,000 last year. This comes as the firm's revenue growth slowed to 9%, down from 16% the previous year. Profits also fell by 14% to £1.1 billion.

EY partners have been told to expect a second consecutive year of pay cuts, while many senior staff will not receive a salary increase this year.

Deloitte UK has revealed it is set to equalise parental leave, offering all new parents 26 weeks of fully-paid family leave from 1 January 2025. This policy replaces the previous four weeks of paternity leave at full pay. Additionally, the Big Four firm is introducing up to 12 weeks of extra paid le

Deloitte has decided to reintroduce in-person interviews for its UK graduate scheme, responding to concerns from the Financial Reporting Council (FRC) over online cheating. The Big Four firm will return to face-to-face interviews from September for graduate and apprenticeship programmes.

PwC UK has communicated to its staff that it will monitor office attendance starting in January. The move comes as part of a stricter hybrid working policy, requiring staff to be in the office or at client sites for at least three days a week.

EY UK is expected to offer lower pay rises and bonuses for staff within its tax advisory division, mirroring a trend among Big Four firms responding to a challenging economic climate. The firm's 4,400-strong tax division are set to receive a 2.2% base salary increase, a decrease from previous years

PwC's China business, PwC Zhong Tian, has said it anticipates to receive a six month business ban from Chinese authorities, starting as early as September, due to its audit of the collapsed property developer Evergrande. The Chinese securities regulator previously found that Evergrande had infl

A UK property developer, Revelan, is suing PwC for £6.6 million in London's High Court. The developer alleges PwC provided "negligent" tax advice which resulted in a £3m tax bill from HMRC. Revelan alleges PwC miscalculated their tax liabilities over a five-year period, errors which PwC

In what marks the first time the Financial Conduct Authority (FCA) has fined an audit firm, the regulator has issued PwC a £15 million penalty for failing to report suspicions of fraud at now-defunct London Capital & Finance (LCF).

PwC UK has informed its employees of reduced bonuses in certain divisions, smaller pay rises, and a cutback on the popular half-day Fridays perk due to "challenging market conditions". In a memo, chief people officer Ian Elliott told the Big Four firm's 26,000 staff that while the overall bonus pool

KPMG is set to cut a further 200 jobs in the UK as the consulting sector faces a market slowdown. The cuts, affecting both back-office and client-facing roles, come after a review of the firm's cost base and are expected to be completed by October 2024.

UK government consulting spending faces major cuts as both main political parties have pledged to halve external advisory costs, potentially saving £3 billion over five years. This move follows record-high spending since the last election, driven by pandemic response, digital projects, and civ

Hywel Ball, EY's UK chair and UK&I managing partner, has announced his resignation, triggering a leadership race for one of the most coveted roles in professional services. The 61-year-old veteran, who has dedicated his entire career to the Big Four firm since 1983, was a staunch advocate for Pr

PwC has initiated a "silent lay-off" round in the UK, offering voluntary severance to staff in consulting, risk, operational, and managed service divisions in London and Belfast. Affected employees have been individually notified and instructed not to disclose their departure to colleagues or the na

KPMG Switzerland and KPMG UK's partners have overwhelmingly voted to merge, creating a new $4.4 billion (£3.44bn) entity that will rank as the second-largest firm within the KPMG network.