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ONE FOUR TEN
The Big Four in China
They came, they saw, they conquered
In China, the Big Four have attained a dominant position in the accounting services market. Each of the firms is generating billions in revenue there. In a sign of just how much the world has changed, some of China’s largest state-owned enterprises have become Big Four clients. This surprising victory, though, is likely to be short-lived. At every step of their China foray, the firms have faced opposition from powerful forces. That opposition has now reached a crescendo. And it has reached the courts.
Disputes about something as seemingly incidental as audit working papers have become the centre of a transnational legal and regulatory battleground. In Shanghai, Deloitte ...
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