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Big Four increase share of fee income

UK’s Big Four accountancy firms increased their fee income by 13%, to £6.7bn
during the past financial year, according to a newly released report by
International
Financial Services London
(IFSL).

The IFSL research shows fee income among UK’s top 50 accounting firms rose by
13%, to £8.8bn – the third consecutive year in which fee income grew by at least
11%.

PricewaterhouseCoopers
remains the biggest firm with fee income totalling £2.1bn; followed by Deloitte,
£1.8bn; KPMG, £1.4bn; and Ernst & Young (E&Y), £1.1bn. The combined
revenue of the Big Four accounted for 73.4% of the fee income of the top 50.

The Big Four’s share edged up slightly from a low point of 72% in the 2005
IFSL survey. E&Y’s fee income was the smallest of the big four but still
almost three times the next biggest firm Grant Thornton, up by more than
one-third, to £387m, following the merger with Robson Rhodes.

Further reading:

Deloitte delivers record 15.5% global growth

BDO’s audit win pushes fee growth past Big Four rivals

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