The accounting industry is filled with several financial giants with billions of dollars in revenue and asset. Within these thousands of companies, there are a handful of firms that stand out from the rest. Each of these top accounting firms provides its clients accounting services of different flavors due to their business model, reach, and capacity.
Within the top-10 best accounting firms in the world, four firms are considered the big four of the industry. These companies are Deloitte, PricewaterhouseCoopers (PwC), Klynveld Peat Marwick Goerdeler (KPMG), and Ernst & Young (EY). Each of these firms is an institution that has a wide network of accounting services and companies at its disposal. Amongst these four, PwC is considered by many experts as the best accounting firm in the world.
In no particular order, the top-10 accounting firms in 2022 are listed and discussed below.
- PricewaterhouseCoopers (PwC)
- Klynveld Peat Marwick Goerdeler (KPMG)
- Ernst & Young (EY)
- RSM International
- BDO Global
- Baker Tilly International
- CBIZ MHM
- Plante Moran
Deloitte is one of the largest accounting companies that is operating at the moment. Established in 1845, it has thousands of offices and employs, directly and indirectly, hundreds of thousands of people. Similarly, this firm was able to generate a revenue of over $45 billion in the previous year. Deloitte offers its clients a wide range of accounting services such as tax services, assurance, and much more.
Amongst the four big accounting firms, Deloitte has one of the best salary packages for its entry-level workers. On average, a new worker at Deloitte can earn more than $70,000, which is amongst the highest in the industry.
Arguably, PwC is the biggest accounting firm in the world. This firm came into existence in 1998 after the merger of two accounting companies. Last year alone, PwC generated over $40 billion, which was only surpassed by the earning of Deloitte. In addition, the accounting firm offers its clients financial services such as financial consulting, general auditing, assurance, and tax services.
Klynveld Peat Marwick Goerdeler (KPMG)
KPMG began operating in 1987. Within the last 30 years, this accounting firm has slowly occupied the position of being amongst the four big accounting firms in the world. Within almost 160 countries, KPMG has over 700 offices, with multiple offices in certain locations. The size of this organization allows it to generate a revenue of over $29 billion last year alone. The company’s financial buoyancy is tied to the firm’s ability to expand and merge with other accounting firms to create a hybrid accounting network that can provide distinct and credible services to its clients.
Ernst & Young
Ernst & Young, like the four other accounting firms, operates as an accounting network. This business generates over $35 billion on average. Ernst & Young began operations in 1989 after the merger of two other accounting firms. The creation of this new company led to its expansion into hundreds of countries all across the world. Also, the firm has hundreds of offices, which offer general financial services such as financial transactions, taxes processing, advertising, and much more.
Just like other accounting firms that are referred to as the big four, Ernst & Young has an inclusive workforce due to its size and reach. The company makes an effort to keep its staff educated and up-to-date with current trends within the accounting and financial sectors.
Although RSM US is not amongst the big four accounting firms, it is a fairly decent accounting company. This firm provides consulting tax and audit services to a large number of companies, which are generally described as mid-market financial institutions or businesses. This company has its headquarters in London, England. With annual average revenue of over $5 billion, this company has several offices within America, Canada, and other countries within Europe. Additionally, the firm employs thousands of workers across these countries.
BDO is an accounting firm that was founded in 1964. When it was opened, this firm had its headquarters in New York. However, the main office was moved to Chicago after some years. The global branch of the company operates out of Belgium. As the company expanded, it has been able to grow into an established accounting firm that averages almost $10 billion in revenue over the past five years.
Baker Tilly International
Baker Tilly is another accounting agency that was established in 1988. This firm has its headquarters in London, the capital of England. Also, it operates within almost 150 countries with multiple branches within each nation. Last year, the company recorded a revenue of over $4 billion, which made it amongst the top 10 accounting firms in terms of revenue.
CBIZ MHM is a big accounting company with thousands of workers. It offers its global clients a wide range of financial services such as audit, assurance, and much more. CBIZ MHM makes a decent amount of revenue that sums up to about $10 billion annually. This company has its headquarters in Cleveland, Ohio. However, it has several offices in different countries across America, Europe, and Asia.
CohnReznick LLP is an international accounting company with its head office in New York. It is one of the largest accounting firms in the world and amongst the biggest in the United States. CohnReznick was created in 2012 when two accounting companies – J.H. Cohn and Reznick Group – merged into one. This merger significantly increased the company’s reach as it can serve thousands of clients from around the world.
Plante Moran is a big financial institution with revenue that averages $500 million annually. This company offers several services such as investment banking, auditing, resource management, and much more. Established in 1924, Plante Moran has its corporate headquarters in Michigan. Now, the company has several branches all around the world.