For Moore Stephens, 2007 represented a pretty good year. For one, it celebrated its centenary year. Secondly, fee income rose by 20%, cementing its position just outside the top ten firms, helped by the £4m merger with Macnair Mason. The firm is led by Richard Moore and Colin Moore.

MS is currently running 44 offices throughout the UK, more than any other firm in the country. This is reflected in the number of partners it has: 169. The downside of that is average fee per partner is among the lowest of the larger firms at just £600,000. Compare that with ninth-placed PKF (£1.4m per partner) and you get the picture.

Founded in 1907, Moore Stephens makes great play of its international networks, one of the biggest outside the Big Four with 539 offices in 93 countries. Its UK arm covers the usual areas of audit, tax and consulting, with the latter showing the healthiest signs of growth in the past year at 33%.

Corporate finance also showed good signs of increase. According to the firm itself, international growth made it the fastest growing network in the world from 2005 to 2006. This is despite a high-profile liability case currently winding its way through the courts going back to Moore Stephens' handling of its client Stone and Rolls accounts during the 1990s.

As for the firm's specialisms, Moore Stephens has a strong presence in the mining sector as well as hospitality and property. But it is shipping where the firm really makes it mark, with the City ranking it the number one adviser to that particular industry.

For now, the focus is on growing its PFI consultancy arm and establishing a firm foothold with AIM-listed clients, a popular tactic among the mid tier since they're cheaper and 'more attuned to their clients' needs'.