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Privacy and Compliance Services: Why the Market Is Rumbling Against the Big Four

By Leigh Vickery
May 01, 2020

With the advent of stringent privacy regulations in Europe and the United States, corporations are spending more time and money scrambling to ensure their privacy and compliance processes are able to withstand these high levels of scrutiny. At the same time, competition to provide these services is heating up as the Big Four professional services firms plant their stakes more broadly in this fertile ground.

All of the chaos and uncertainty has intensified the dilemma for corporate legal departments of how to find the right service provider to solve their immediate challenges. On one level, the Big Four's established relationships and reputations place them as a logical front runner for strategies and solutions focused around complex, vital business processes. However, the reality of how that expertise translates into legal compliance, privacy, and litigation matters has not been proven. In fact, there are persistent and growing expressions of discontent about the quality of legal compliance-related services offered by these traditional accounting firms. From conflicts of interest to a lack of legal expertise, it's worth a deeper dive into examining how today's legal compliance landscape demands an understanding and a skill set broader than business consulting expertise.

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