{ "media_type": "text", "post_content": "I’ve always been curious. Is there a reason Accenture is publicly traded company and other consulting firms arent? consulting is client service and wouldnt need CAPEX spending or anything so what is their rationale for wanting to raise public capital?", "post_id": "619ff7ad1096b100365b2722", "reply_count": 16, "vote_count": 4, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I’ve always been curious. Is there a reason Accenture is publicly traded company and other consulting firms arent? consulting is client service and wouldnt need CAPEX spending or anything so what is their rationale for wanting to raise public capital?

likesmart
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The goal of (nearly) everyone in MB and Big 4, is to get to the Partner level, for the big pot of gold and divide the profits between them. They don’t want to share with stockholders who care/know nothing about the business and only think in 90-day increments. Going public really, REALLY enriches the generation of pre-IPO partners, while those that follow are simply well compensated employees. And while ACN has done well as a public company, the company culture now is significantly more diluted to what it was pre-IPO. When MBB/Big-4 look at these things, they don’t see much of an incentive to go public.

likesmart

The partners who sold out wanted PAID

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Enron

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Err… a little before. Possibly for the explicit purpose of not being taken down also.

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It’s simply way for current partners to have a pay day. Almost always destroys the culture.

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Probably for the other businesses majorly such as Technology

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Booz Allen Hamilton is also publicly traded

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B4 had advisory+ audit and I don’t think public companies can audit other public companies

Accenture is mainly an IT services company, so the comparison isn't really fair. Also we have some consulting firms publicly traded - Booz Allen, Huron, Oliver Wyman (through Marsh McLennan) comes to my mind There are some downside, but if the company tried to raise money before to expand (most of those are not as old as BCG for example), it's hard to come back to being a private company (not sure if it has ever happen)

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Not close enough - it's significantly easier to do that compared to a publicly traded company to become private again

Also OP, we pursue a lot of acquisitions. Like A LOT. So that’s where our CAPEX goes. This is consistent with our strategy. You work at McK, which has a strategy of developing top talent from within. Accenture’s strategy is to create a giant platform to push offerings we obtain through acquisitions to clients and use the talent we acquire externally to deliver these offerings.

Accenture spends around $1 billion in acquisitions per year. We have internal consulting teams dedicated to assimilating other companies.

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I didn't think accounting firms that had advisory arms could be listed and publicly traded?

Most of the WITCH firms are also publicly traded companies

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