The big 4 accounting firms - KPMG, PricewaterhouseCoopers, Deloitte, and Ernst & Young - are known for setting global standards but their ownership is secret. While present in over 120 countries, each firm is headquartered in a tax haven. They have paid billions in fines for issues like compromising independence and insider trading. The firms provide accounting advice to the Indian government but their competency is questionable as they have been involved in practices like bogus sales and asset stripping. However, they continue to be respected in India because the public is not aware of these issues regarding the big 4 accounting firms.