BIG FOUR COMPANIES (Syllabus: GS Paper 3 - Economy)

News-CRUX-10     7th August 2023        
Samadhaan

Context: Global professional services networks Deloitte, KPMG, PwC and Ernst & Young (EY) - also known as the Big Four - provide a range of forensic services for applications, including business crises and disputes.

  • Big Four term is applied to these accounting companies because of their enormous size, stellar reputation, and extensive global reach. Each accounting firm has a network of many distinct corporations, even though these businesses are typically called single entities. 

Key Points

  • Consulting firms, including the Big Four, which undertake discreet investigative services for audits and risk management, may not be able to process digital personal data under the “legitimate purposes” clause of the Digital Personal Data Protection Bill, 2023.
  • According to the Bill tabled in the Lok Sabha, certain legitimate purposes would not require explicit consent from the user. 
  • These include employment-related purposes to protect the employer from loss or liability, such as prevention of corporate espionage
  • Processing digital data for intelligence and analytics on behalf of clients is at the core of these advisory solutions. 
Samadhaan