The next firm is RSM McGladrey. RSM announced a few year back that it changed its name from McGladrey to RSM in a global branding initiative. It looks like it helped because RSM’s revenues increased from $1.6 billion to $2.1 billion. That makes RSM the largest accounting firm in Chicago.
Ok, that wraps up the top five accounting firms. Let’s move on to the rest of the top ten accounting firms.
6. Grant Thornton
Next up on the list of top US accounting firms is RSM’s rival in Chicago, Grant Thornton. Grant Thornton had a pretty good year with about a 5.4% increase in revenue.
They still have a lot of ground to make up before catching the big 4 in other areas though. Even though they aren’t number one in Chicago they are still one of the largest accounting firms in Chicago.
7. BDO USA
BDO accounting firm had over a billion dollars in revenue in the United States this year. They are gaining on Grant thornton and RSM pretty quickly.
I wouldn’t be surprised if they pass one of them in the next few years. They have been enjoying growth well over 20% over the past couple of years.
8. Crowe Horwath
Crowe Horwath surpassed $900 million in revenue this year on the biggest accounting firms in the US list this year. They did that without increasing headcount significantly. They are also one of the largest accounting firms in Chicago similar to RSM and BDO accounting firm.
In 2016, Crowe Horwath expanded out to London, so we’ll have to see how that affects their global revenue and employees on a go forward basis. In order to compete with the big four accounting firms, these mid tier accounting firms are going to need to grow internationally, so this is a great sign for Crowe Horwath.
They also unveiled a new brand in 2016 – Smart decisions today. Lasting value tomorrow.
CliftonLarsonAllen moved up a bit in the largest accounting firms in the US this year. They went from just under $865 million in revenue last year to $954 million this year. It looks like they did this by adding about 50 employees to their headcount.
CliftonLarsonAllen had a string of M&A deals this year. They added MWA CPA +Business Advisors in Texas, Duggan & Massey in Atlanta, Schenck in Wisonsin.
CBIZ rounds out the top 10 accounting firms. CBIZ had about a 10% increase in revenues this year to arrive at $785 million in revenues.
Just outside the top ten accounting firms in the US:
CohnReznik is a US based firm and they made about $645 million in revenue. That represents about a 5% increase in revenue for them. They also had about 2,659 employees an increase of about 50 employees year over year. They are slowly moving up the biggest accounting firms in the US list.
I also wanted to go over the fastest growing accounting companies this year other than just the largest cpa firms in the US.
Out of the top 10 accounting in the U.S., CLA was the fastest growing. They grew at a 10% rate.