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The Big Four by Stuart Kells, Ian D. Gow

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13

DISRUPTED

The obsolescence of Big Four technology

Mugged by reality

Since the reopening of China’s economy, the country’s government agencies and state-owned enterprises have gobbled up patents and other intellectual property in areas as diverse as microwave ovens, rare earth elements, telecommunications and solar power. The fields of accounting and auditing, too, were identified as potential areas of focus for the gathering of IP. According to Paul Gillis, Chinese officials initially saw joint ventures with the Big Four as a means of transferring technologies from the firms to China. That was the plan until the officials spent some time with the foreign firms and came to a surprising realisation: public accountancy depended on very few proprietary ...

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