Why accounting firms’ names are little bit different from CICPA builded of China
ID: 2340057 • Letter: W
Question
Why accounting firms’ names are little bit different from CICPA builded of China, please see two pictures below. The first picture is from Erickson’s article, the second picture is from Chinese Institute of Certified Public Accountants(CICPA) . such as Ernst & Young and Ernst & Young Hua Ming CPA, PricewaterhouseCoopers and PricewaterhouseCoopers Zhong Tian CPA, KPMG and KPMG Huazhen CPA, and Deloitte and Deloitte Touche Tohmatsu Huayong CPA and many others.
Public Companies Market Share of Global Six and Leading Associations Audit Firm / Alliance Ernst & Young PricewaterhouseCoopers KPMG Deloitte BDO USA LEA Grant Thornton Allinial Global PrimeGlobal Baker Tilly North America Moore Stephens www.AuditAnalytics.com # of Audits 947 696 665 642 285 245 226 140 130 97 80 Market Share 22.8% 16.8% 16.0% 15.5% 6.9% 5.9% 5.4% 3.4% 3.1% 2.3% 1.9%Explanation / Answer
Same Accounting firms name are different in china as compared to us because these accounting firms are foreign accounting firms and they are not allowed to work on a standalone basis in China. They had to do partnership with a local accounting firm of China and thus the name of the local accounting firm get included along with the name of that foreign accounting firm, that's why there name is different.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.