An accounting firm provides multiple services, from keeping their clients financially organized to taking care of taxes and payrolls. The legality of finances and risks of investments are also a part of the packages accounting firms offer.
Whether you just got your degree in finance and are looking for a job or just surfing the web for random information on accounting firms. The first thing that will pop into your mind will be, “Which firms are the best?”. This article discusses 10 of the most esteemed and renowned accounting firms.
Deloitte takes the top spot. Founded by William Welch Deloitte, it is a company based in London, England, with headquarters in New York, USA. It has been crowned as “The most valuable professional service” and ranks as the “3rd Strongest Brand” overall. Deloitte generated a revenue of USD 59.3 Billion for the financial year ending on May 31st, 2022.
Of this 59.3 Billion, approximately USD 23 Billion was earned by their “Consultation” Services. With over 600 offices worldwide and spread over 150 nations, Deloitte has a massive network. The estimated pay of a partner at Deloitte is well over USD 150,000. Their merger with Curtis Mclean helped them cross the 100-partner milestone. You can expect excellent career growth with them.
The only company competing for Deloitte is PricewaterhouseCoopers. It is the 2nd largest accounting firm and has its headquarters in London, England. PwC firms are spread across 157 countries and have over 700 offices worldwide. It reported a revenue of USD 43 Billion in 2021 and is rightfully in second place in the Big 4.
This company was the result of a merger between Price Waterhouse and Coopers & Lybrand in 1998. It offers three service lines: Assurance, Advisory, and Tax. PwC has partners in approximately 700 offices and has 200,000 employees around the globe. If that isn’t impressive enough, they have a partnership with Google that started in 2014. Their pay varies from 40,000 to 240,000 USD annually based on different positions.
Ernst and Young
Ernst and Young have a reputation that they have maintained throughout the years. EY has been ranked on Fortune Magazine’s list of the “100 BEST companies to work for” for the last 24 years. This 24-year streak outnumbers any other firm. It is also headquartered in London, England.
It was a product of a merger between Ernst & Whinney and Arthur Young & Co. They have a wide array of services, including tax, consulting, strategy, assurance, and restructuring.
Their revenue for the 2022 Financial year that ended on June 30th was 45.4 Billion USD. On average, the employees earn over 85,000 USD annually.
The last of the Big 4, yet miles ahead of the 5th, KPMG is headquartered in Amsterdam, Netherlands. This firm operates in 150 different countries with approximately 600 offices. There have been reports that KPMG Denmark Operations has merged with EY. This will boost the services provided by both firms and benefit locals of that region. It offers three services: financial audit, tax, and advisory.
KPMG stands for Klynveld Peat Marwick Goerdeler. The firm chose this name after the merger of KMG with Peat Maverick in 1987. They have a revenue of 32.13 Billion USD, rightfully taking the 4th throne. They pay over 43000 USD to EVs Associates and 260,000 USD to Managing Directors. An excellent option for those looking for a boost in their career.
BDO is one of the most geographically diverse firms of all time. It is spread in 138 countries with over 1200 countries. The International Executive Office is in Zaventem, Belgium. With 97,292 employees (2021) and generating 11.8 Billion USD in Annual earnings (2021), this firm is an Accounting Giant and a dream of many. BDO specializes in Audit and Tax Services. Recently they signed a merger with Alpern Rosenthal, which will increase the line of services.
Founded 42 years ago, in 1980, this firm holds a position in the Top 10. With around 62,000 employees and generating a revenue of 6.6 Billion USD, Grant Thornton is a strong contender for this list. They have headquarters in London, England, and have 26 offices all over England. They provide services like tax advisory, assurance, and management consulting. They were fined £650,000 for a series of errors in audit work back in 2016.
Formerly known as Smith and Williamson, Evelyn Partners is a UK-based accounting firm. They are widely known for their services in Corporate Management. They have 12 offices spread over the UK, Ireland, and Jersey, with around 2000 employees.
Baker Tilly is a high revenue generator because of its top-notch services. Having almost 40,000 employees in 706 offices worldwide, Baker Tilly International efficiently manages its way on this list. It generated a gain of 4.3 Billion USD in 2021 and, just recently, in May 2022, acquired a Seattle-based firm, Bader Martin.
Francesca Lagerberg, the first woman to be a Global CEO of a top 10 accounting firm, joined Baker and Tilly. They pay 19$ hourly for a receptionist and 71$ per hour for a senior tax manager.
Another UK-based firm with around 2600 employees in 35 countries. Tenon, one of the first firms in the UK, merged with RSM Bentley Jenson in a £76 million deal. RSM tenon won a “National Firm of the Year” award in 2011.
They had a revenue of around 240.2 Million USD in 2021. Their services include Audit, Tax, and Advisory. RSM Tenon rebranded itself as RSM UK after its defunct in 2015.
Moore Stephens UK
It is the 12th Largest Accountancy Network in the world. It has over 29,000 employees and 547 offices in 113 countries. They partnered with Harvard Business School to acquire a learning experience only Harvard can provide. It had a revenue of £121.4 million in 2017. The pay of employees averages around 60,733 USD annually.
These are just some of the Accounting Giants in the world that were started by determined people and are now leading the market. Note that, besides the first 4, the rest are in no order precisely.