The US government has hired Big 4 firms PricewaterhouseCoopers (PwC) and Ernst & Young to help in rescuing troubled US banks.
PwC is to be the auditor for the $700 billion (£428 billion) Troubled Asset Relief rescue programme, with Ernst & Young providing support.
In a statement, the US Treasury said the firms are to help with "accounting and internal control services needed to administer the complex portfolio of troubled assets the department will purchase, including whole loans and mortgage-backed securities".
Ernst & Young is to be paid $492,006.95 initially and PwC will receive $191,469.27 at the outset, with the contracts lasting until September 30th, 2011.
Meanwhile, Marcel Fenez, global leader for entertainment and media practice at PwC, has said that traditional media will grow for the next five years.
According to Press Gazette, he added that global digital advertising will grow by 19.3 per cent in the next year.
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