The Thesis On The Integration Of Accounting Firms Merger And Acquisition

It is obvious that there is a big gap between local accounting firms and foreign accounting firms-especially “Big Four”,because Chinese audit market was resumed reconstruction in 1980 and the audit industry has been under development for less than 40 years.Chinese local firms began to enhance their competitiveness through merger and acquisition to response “Big Four and the national policy call of “Be Bigger and Stronger”.Mergers can only achieve “bigger”,however integration can make accounting firms “stronger”.This paper combines RSM China and Crowe Horwath China mergence as a case study on the post-merger integration effect.Theoretical part.Based on the existing literature,this paper evaluates the integration effect by economy theory,Deep Pocket Theory and Reputation theory and mainly analyzed three aspects of management integration,technology integration and strategic integration.Case section.This article selects mergence of RSM China and Crowe Horwath China as a case study.Firstly,for management integration,the numbers of the concentration of the Signature Certified Public Accountants are increased,and there is no customer exchanges.Secondly,In terms of technology integration,the audit quality and audit efficiency are used as evaluation indicators to judge whether the technology integration is in place,but the data shows that both have not been significantly improved.Thirdly,in terms of strategic integration,the industry portfolio share method was used to study the degree of post-merger specialization,and it was found that the diversification strategy was adopted after the merger.Finally,based on the above three aspects of poor integration,the cause analysis is ultimately attributed to human resource management,risk identification,and strategic choice.This paper hopes to provide reference for the merger of the firm through the research on the integration effect of RSM China and Crowe Horwath China.