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Top 10 Accounting Firms in the World
Over the course of time, business proceedings have changed a lot. There are numerous factors into play that have changed the way companies do business. Presently, a business can get access to its business services from a single firm. These services incorporate tax consulting, auditing and assurance, IT consulting, and other services like forensic investigation and business advisory services. There are multiple firms around the globe that have emerged as the top accounting service providers. In this article, we tend to focus on the top 10 accounting firms in the world and how they have held these top spots.
Best accounting firms in the world
Everyone associated with the term accounting has definitely heard about the top 4 accounting firms in the world. These big four firms provide their clients with the most satisfactory results in terms of dealing with accounting issues like tax compliance, auditing and assurance, etc. After the Big 4, there are significant other firms that are also playing their part quite well, which is why they are a part of the top 10 accounting firms in the world. You must, however, note that none of these firms function as a single firm but rather as a group of professional service providers. Each of these top accounting firms tasks in a combined, associated way. Let’s discuss these top 10 accounting firms in the world and their details.
Deloitte
Deloitte is considered as one of the big 4 accounting firms in the world and the largest accounting firm in the world as well because it is ranked number 1. It is based in New York United States. They started their operations back in 1845. This firm has its operations in all significant countries in the world. Their main specialty is audit assurance, taxation and risk management services.
Deloitte has operations in more than 150 countries in the world and more than 225,000 people work in this firm globally. According to a data of 2015, Deloitte has 46 global member firms.
PWC
Price Waterhouse Coopers (PWC) is the second most decorated accounting firm in the world and a part of the Big 4 accounting firms. They are based in London, United Kingdom, and originated back in the 19th century. Like Deloitte, they also specialize in auditing and assurance, tax, and business advisory consulting. As of now, PWC is present in more than 150 countries around the world and has more than 700 offices globally. Their employee count is more than 200,000, and has a gross revenue of more than $53.1 billion.
Ernst and Young (EY)
Ernst and Young (EY) is the third top-most firm in the Big 4 league and only behind PWC on the basis of their gross revenue. EY is also headquartered in London, United Kingdom, and it started its operations back in 1849. Just like the other three firms in the Big Four, Ernst and Young has also experienced a lot of mergers and acquisitions ever since they started their operations. They also have offices in more than 150 countries worldwide. As of June 2024, they have a gross revenue of US $51.2 billion in FY 2024. Something unique about EY is its striving to bring diversity and a focus on human rights. They are also seeking to develop their organization in the technological aspect, sustainability, and leadership aspects.
KPMG
Klynveld Peat Marwick Goerdeler (KPMG) is the last entry in the big four accounting firms in the world. Based in Amsterdam, Netherlands, this firm started back in the 19th century. They provide three essential services: audit, tax, and advisory. KPMG had a revenue of $38.4 billion for the fiscal year 2024.Â
BDO
Coming in at number 5 is the BDO professional network of accounting firms. They are the fifth largest accounting firm in the world and only behind the big 4. They operate in 151 countries around the globe and has an employee count of around 60k.
RSM
RSM has the sixth spot in the top accounting firms in the world. They had a revenue of around $8billion as of 2022. One unique thing about this firm is their global brand was launched in 2015.
Grant Thornton
Even though they are in the seventh position on this list, Grant Thornton is one of the fastest-growing accounting and auditing firms currently on this list. They were formed in 1980 and are based in London, United Kingdom. They have an employee base of around 40,000 in more than 130 countries in the world. You might not have heard of them as their target market is primarily the United States, and they lack a presence in third-world countries, which has contributed a lot to the prominence and rise of the accounting firms above Grant Thornton in this list.
Nexia International
Nexia International has risen up to be included in the top 10 accounting firms in the world. They are currently 8th in this list and have a revenue of $4.5 billion. They have around 34k employees in their disposal. Half of their revenue comes from North America, while the other half comes from Europe, Middle East, Africa, Asia Pacific and South America. This tells that they do operate in the major parts of the world.
Crowe Horwath
The 9th entry in this list, Crowe Horwath overtook Baker Tilly with exceptional financial results in 2016. They have more than 35k employees in the world.
Baker Tilly
Baker Tilly International is a public accounting firm and one of the top 10 accounting firms in the world. Currently operated by 161 joint member firm in the United States, they have an employee base of 27k individuals operating across 137 countries. As of 2023, there total revenue is around $5.2 billion.
The Verdict
So, conclusively, all the big companies in the world are dependent upon the Big 4 accounting firms when it comes to the management of their finance and accounting endeavors. That being said, the other entries in this list do have their say as they are constantly battling to stay and move up in this list. Those looking to land their first job in the field of accounting and finance should aim at the top 4 spots on this list. In terms of managing your accounting activities, you’ll be OK with any firm on this list.
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