Public accounting firms are professional services organizations that provide a range of financial services to clients, including individuals, businesses, and government entities. Their primary functions include auditing, tax preparation, and consulting. These firms help ensure that financial statements are accurate and comply with regulations, which is essential for maintaining trust in the financial system. These firms can vary in size, from small local practices to large multinational corporations like Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG. Public accounting firms play a crucial role in the economy by helping clients manage their finances and navigate complex tax laws.