The top 30 global accounting networks and associations earned almost $150bn
(£93.9bn) in revenues over the last year, according to a new survey by
The accounting groups posted an impressive average of 18% growth on the
previous year, reaching $146bn of income.
topped the chart with $28bn in revenues, but was closely followed by Deloitte
Deloitte revenues grew by 18.6% to $27.4bn, compared with PwC’s growth of
While the groups have performed well, all eyes will be on KPMG’s results, due
in December or January, which will represent the impact of the credit crunch,
banking crises and economic tough times on its results.
BDO, RSM and
trail in the wake of fourth-placed
International. BDO comes in at fifth place, with $4.7bn income, compared
with KPMG’s $19.8bn. Grant Thornton is yet to release its 2008 income figure.
& Young and KPMG have all undergone structural changes in recent times.
Ernst & Young is bringing together its firms in Europe, Africa, the Middle
East and India, albeit without profit-sharing. PwC has created three ‘clusters’,
while a number of KPMG firms have formally merged across Europe.
‘Other organisations will undoubtedly be looking at this move as a way
forward, so there is a good chance we will see more groups coming together,’
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
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Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group