The power of expertise: Is small the new big?
Critical Input Managing Director Tim Griffiths

The power of expertise: Is small the new big?

By Tim Griffiths

Once a symbol of reassurance and influence for both public and private entities, the prestigious "big four" brands held an aura of credibility. However, recent controversy has introduced reputational vulnerabilities – fair or not – for those associated with their services. Could this pave the way for smaller, more specialised companies to emerge as safer, more reliable, and less risky alternatives? Is small the new big?

Big firms, big fees

Recent revelations surrounding Australia's “big four” accounting firms have opened the door to crucial insights applicable to businesses operating in today's dynamic environment. The substantial government outlay highlights the influence wielded by these firms. Over the past decade, Australian governments have allocated an more than $10 billion to these firms. This expenditure prompted inquiries into the extent of their engagement and the resulting implications.

The dichotomy of roles

Balancing advisory and auditing functions raises questions about potential conflicts.

The intricate interplay between these firms' roles as both advisors and auditors has raised discussions about possible conflicts of interest and the challenges arising from such multifaceted engagements.

Our approach at Critical Input

Focused expertise yields more impactful outcomes than generic approaches. At Critical Input, we embrace a distinctive philosophy. We prioritise specialisation by enlisting seasoned professionals deeply rooted in their specific domains. Our emphasis on comprehensive knowledge and focused proficiency drives our commitment to excellence.

Embracing a 'small is the new big' mindset

In a business landscape valuing specialisation, insights from the big four offer valuable guidance. In the current corporate arena, specialisation and transparency are prized. We draw pivotal lessons from the experiences of the big four, offering guidance to businesses of all sizes. Our unwavering dedication to excellence within our core domains—supply chain management, project management, and process optimisation—ensures superior outcomes while mitigating the risks of overreach.

A new milestone for Critical Input

This year, we quietly celebrated 17 years of steady growth and sustainability. Critical Input has evolved from a single-person operation to achieving this significant milestone. Proudly 100 per cent Australian owned and operated, we break barriers and challenge the norms of larger consultancy firms by placing a sustainability focus at the heart of our improvement works. As we reach this milestone, we extend heartfelt gratitude to all present and past resources who have shown unwavering support and loyalty. Your commitment has been pivotal to our growth and success. Thank you for being an integral part of Critical Input's journey.

Navigating with expertise and purpose

In the wake of revelations involving the big four, we are reminded of the importance of expertise, integrity, and a focused approach. As we move forward, Critical Input remains steadfast in our commitment to excellence, embracing specialised knowledge and delivering impactful solutions that elevate businesses in today's complex world.


References:

?ABC News Australia, "How the big four accounting firms infiltrated governments, earning more than $10b over a decade while taxpayers are in the dark," July 17, 2023.

The Australian Financial Review (AFR), "The structural problem inside PwC (and the rest of the big four)," May 23, 2023.

Alan Millett

Corporate Advisor & Associate

1 年

Tim, Several years ago, one of the big four issued a report to a government in an area in which I have expertise. The report was 14 pages of material which was factually incorrect, the charge to the government was $1.4m for the report. I would have completed a report of much better quality for a cost of approximately $14,000. Yes that is correct it would have cost 1% of the price charge, and it would have actually been factually correct.

要查看或添加评论,请登录

Tim Griffiths MAICD, PMI, MCIPS的更多文章

  • Meet Critical Input Senior Consultant Steph Cush

    Meet Critical Input Senior Consultant Steph Cush

    Steph Cush has been a key contributor to CRITICAL INPUT Input since 2017 and is known for her adaptability, teamwork…

    4 条评论
  • Embracing sustainability: How green is your supply chain?

    Embracing sustainability: How green is your supply chain?

    By Tim Griffiths, Managing Director of Critical Input There is no Planet B. The responsibility to care for our earth…

  • Vocal about keeping it local

    Vocal about keeping it local

    In an era where large overseas consultancies are increasingly acquiring Australian firms, it's becoming harder for…

    1 条评论
  • A vent about my pet peeve – corporate waste

    A vent about my pet peeve – corporate waste

    By Critical Input Managing Director Tim Griffiths As the Managing Director of Critical Input, I've witnessed firsthand…

    2 条评论
  • Celebrating National Eucalypt Day (and the birth of Mark Smith)

    Celebrating National Eucalypt Day (and the birth of Mark Smith)

    Did you know that March 23 is not only National Eucalypt Day but also the birthday of Critical Input Senior Consultant…

    12 条评论
  • The power of local sourcing

    The power of local sourcing

    In today's business landscape, the emphasis on "local content" has become increasingly prevalent, with many Australian…

    1 条评论
  • Silent auction attracts loud applause

    Silent auction attracts loud applause

    Proud Wiradjuri Muruwari woman Christina Coleman is Ernst & Young First Nations Talent Acquisition Manager and the…

    3 条评论
  • Meet Critical Input Senior Consultant Brad Small

    Meet Critical Input Senior Consultant Brad Small

    Meet Brad Small, a seasoned supply chain professional who has spent more than two decades navigating the intricate web…

    1 条评论
  • Meet Senior Consultant at Critical Input James Voller

    Meet Senior Consultant at Critical Input James Voller

    In the complex realm of procurement and supply chain management, having a seasoned expert can be the key to unlocking…

  • Meet Critical Input Senior Consultant Carmen Langdon

    Meet Critical Input Senior Consultant Carmen Langdon

    In the dynamic realm of procurement, logistics, and stakeholder engagement, Carmen Langdon emerges as a seasoned…

    1 条评论

社区洞察

其他会员也浏览了