The Big Four consulting firms Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY) and KPMG, collectively employed more than 1.5 million people last year.
Deloitte is the largest, with $65.1 billion in global income in 2023 compared to PwC's $53 billion, EY's $49.4 billion and KPMG's $36.4 billion.
These leading accounting and auditing firms conduct research on the presidential election to show what business leaders are thinking as we head to the polls on Tuesday.
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The Big Four had over $200 billion in global revenue, collectively. (Graphic by Visual Capitalist via Getty Images)
Here's what Big Four research says about the 2024 election.
Deloitte: Survey says workplace issues matter
IN an election poll released in mid-September, Deloitte asked 200 North American chief financial officers (CFOs) at organizations with at least $1 billion in revenue what they cared about before the election.
Instead of tax policy, which topped the list in 2016 and 2020, workforce issues such as talent shortages and wage inflation were the most pressing issues for CFOs in 2024.
“Only 12% of CFOs say now is a good time to take bigger risks, compared to 26% in the second quarter of 2024,” Deloitte researchers wrote. “A year ago, the number was 41%. The next election may present the most significant changes of all.”
Related: 10 Important Ways Your Taxes Will Be Affected by a Kamala Harris Administration
PwC: Executives predict a divided government
PwC conducted a survey of 709 US executives, including CFOs, chief information officers (CIOs) and chief technology officers (CTOs) and released the results in October.
A majority of leaders, more than three in four, said they expect a divided government next year, with 77% expecting more executive orders and 75% anticipating more regulation and litigation.
If Democratic candidate Kamala Harris wins, leaders cited higher taxes and climate policy as risk areas. If Republican candidate Donald Trump wins, they foresee trade and foreign relations as areas of danger.
Related: 10 important ways a second Trump administration could affect your taxes
Meanwhile, executives are keeping their AI investments steady, regardless of who becomes President.
“For example, regarding AI, 52% say they would increase their investments under a Harris administration and 53% say the same under a Trump administration,” the study said.
EY: The election will have a significant impact on technology
EY released a survey of 503 technology industry leaders in October, which showed nearly three-quarters (74%) said the election will have a “major impact” on the US technology industry and its ability to remain competitive in a global marketplace.
“Specifically, they think the outcome of the US election would have the most impact on the following areas of regulation: cybersecurity/data protection, AI and machine learning, and user data and content surveillance,” the researchers wrote. of EY.
Many technology leaders (82%) reported plans to increase investment in AI by 50% or more in 2025, regardless of who wins. AI talent tops the list of what they're looking for (60%), followed by cybersecurity (49%).
KPMG: Businesses must remain vigilant
KPMG reviewed US trade policies under both Trump and Harris a comparative review report released at the end of September.
Trump “favors a more protectionist stance, favoring US industries through tariffs and renegotiated trade agreements aimed at reducing the trade deficit,” while Harris “is a proponent of a multilateral approach, advocating tax incentives to promote domestic manufacturing “. These two approaches are “stark contrasts,” according to the report.
The report advises businesses that rely on imports to remain “agile and informed” regardless of who wins the election.
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