This study presents an historical perspective on mergers and acquisitions by major US
accounting firms throughout the twentieth century with special emphasis placed on
such activity during the last fifty years of this period. The focus of this
perspective is: (1) the importance of mergers and acquisitions in the formation and
growth of major accounting firms; (2) the relationship between the
internationalisation of trade and the internationalisation of major accounting
firms; and (3) the ways in which accounting firms have used mergers as a response to
an increasingly competitive environment.
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