Top 10 Accounting Firms
Who are the top 10 accounting firms in the world in 2017? The big 4 accounting firms are at the top of the list followed by the mid tier accounting firms. Which mid tier accounting firms made the list of the largest public accounting firms this year.
The top 10 largest accounting firms by revenue:
- Deloitte – $38.8 billion
- PwC – $37.7 billion
- EY – $31.4 billion
- KPMG – $25.42 billion
- BDO – $7.6 billion
- RSM – $4.9 billion
- Grant Thornton $ 4.8 billion
- Crowe Horwath $ 3.7 billion
- Baker Tilly $3.2 billion
- Nexia International $3.1 billion
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|Firm Name||Revenue||Number of Employees|
|1. Deloitte||$38.8 billion||244,400|
|2. PwC||$37.7 billion||223,468|
|3. EY||$31.4 billion||231,000|
|4. KPMG||$25.4 billion||188,982|
|5. BDO||$7.6 billion||67,731|
|6. RSM||$4.87 billion||41,400|
|7. Grant Thornton||$4.8 billion||47,000|
|8. Crowe Horwath||$3.7 billion||35,327|
|9. Baker Tilly||$3.2 billion||30,490|
|10. Nexia International||$3.1 billion||24,781|
Deloitte is ranked number one with revenues of $36.8 billion for their 2016 fiscal year. They were able to pass PwC in 2016. They ranked behind PwC for their 2015 revenues.
PwC had a lackluster year for a number of reasons. One of those reasons can be attributed to the Taylor Bean case which might have taken some shine off their reputation. Another reason could be due to audit rotation in Europe.
The aforementioned PwC comes in at number 2 on the top 10 accounting firms ranking. They made 35.9 billion in revenue for 2016. This puts them behind the $36.8 billion of revenue that Deloitte generated.
Ernst and Young comes in at number 3. EY is usually at number 3 because they are usually several billion dollars behind PwC and Deloitte. Their audit practices and consulting practices are not as robust as Deloitte and PwC. That is why they lag behind their peers.
EY earned revenues of $29.6 billion in 2016.
EY has 231,000 professionals around the globe as well.
KPMG rounds out the top 4 accounting firms. KPMG earned revenues of $25.42 billion for their 2016 fiscal year.
KPMG has the least amount of employees in the big 4 with 188,982. Their people grew by 8.6% in 2016. KPMG employs 9,843 partners throughout its member firms and 147, 028 professionals.
You will see a large drop off from KPMG to the next accounting firm because of their global reach. The reason the big four accounting firms are considered the big four is because the next closest accounting firm isn’t really that close in terms of revenue or number of employees.
BDO is the fifth largest accounting firm in the world. They earned $7.6 billion for their fiscal year ended September 30, 2016.
BDO attributes their growth in 2016 to strategic mergers that occurred. In order for BDO to catch up to the big 4 accountancy firms they will have to continue merging internationally. It is the global presence that makes the big four the big 4.
BDO operates in over 150 countries in the world. The number of employees working at BDO was 67,731. BDO has 1,401 offices across the globe.
RSM is the sixth largest accounting firm of the top 10 accounting firms in the world. They earned revenues of $4.87 billion for their fiscal year ended December 31, 2016. As you might remember RSM launched their global brand recently in October 2015. The global brand has helped RSM reach the number sixth spot in the top 10 biggest accounting firms.
RSM has more than 41,420 employees working across their 793 offices.
7. Grant Thornton
Grant Thornton is the seventh largest accounting firm with revenues of $4.8 billion in 2016. The number of employees at Grant Thornton grew to 47,000 in 2016.
Grant Thornton operates in over 130 countries across the world.
Grant Thornton’s revenue by region were as follows
Africa – $98 million
Americas – $2,261 million
Asia Pacific – $692 million
CIS – $31 million
Europe – $1,667 million
Middle East – $40 million
8. Crowe Horwath
Crowe Horwath is the eighth largest accounting firm of the top 10 accounting firms in the world with $3.7 billion in revenue. Crowe Horwath moved ahead of Baker Tilly with their 2016 financial results.
Crowe Horwath has 216 member firms and operations in 129 countries. They have over 760 offices around the world.
Crowe Horwath has 35,327 employees around the world. 3,860 of those employees are partners and 26,447 are staff personnel.
9. Baker Tilly
Baker Tilly is the ninth largest accounting firm in the world. Their most recent fiscal year has them earning $3.2 billion in revenue. Baker Tilly has 30,490 professionals around the world.
They operate in over 147 countries.
10. Nexia International
Nexia is the tenth largest accounting firm in the world with $3.1 billion in revenue. The number of employees working at Nexia International was 24,781.
Nexia has 2,594 partners working around the world.
Nexia earns 50% of their revenue in North America, 43% in Europe, Middle East, & Africa, 6% in Asia Pacific and 1% in South America.
Nexia earns 45% of their revenue from audit work, 26% from tax services and 29% from advisory services.