Top 10 Biggest Accounting Companies in Europe Based on Revenue
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| Biggest Accounting Companies in Europe by Revenue |
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Accounting is a crucial activity for any company because it involves monitoring and disclosing financial data. This covers tasks like tax planning, auditing, and bookkeeping as well as financial reporting. Accounting's objective is to deliver accurate and trustworthy financial data that can be used to make wise business decisions.
At well over $200 billion, the global auditing services market is expected to surpass $280 billion by 2026.
The market is dominated by multinational accounting behemoths, despite the fact that smaller accounting firms continue to thrive serving the local community and smaller businesses.
Who are the top 10 accounting firms in Europe in 2024/25?
Many of the best accounting firms are part of the "Big Four" firms, like Deloitte and KPMG. Other great firms are part of smaller accounting networks, like BDO and Grant Thornton. A wide range of accounting, auditing, and other professional services are offered by these accounting firms to clients of all sizes. Using data from the most recent fiscal year, we've found the top ten or more accounting firms in Europe.
The Big Four Accounting FirmsThe Big Four accounting firms—Deloitte, KPMG, EY, and PwC—are the best in the world and the United States. Formerly known as the Big Eight, the Big Four. However, the list was consolidated after a number of mergers in the 1980s, and four conglomerate accounting networks emerged. Each company provides comparable services, and they are all roughly comparable in terms of size and scope in relation to the rest of the market. Many of the biggest corporations in the world rely on Big Four firms to handle their annual audits and accounting needs. |
Top 10 Best and Biggest Accounting Companies in Europe (Update 2024)
To guarantee the dependability and accuracy of a company's finances. Let's clarify what these two areas entail in order to get a clearer picture:
• Accounting: The process of recording and compiling a business's financial transactions is known as accounting. An internal accounting department may handle this or it may be contracted out to an accounting firm.
• Auditing: The process of auditing entails checking the accuracy and compliance of a company's accounting records. This is always carried out by a separate company and is frequently required by law.
Numerous accounting firms also provide audit services, and vice versa, as a result of the close relationship between these two fields. Larger accounting firms, like the ones we've highlighted in this list, are especially guilty of this. We'll therefore use the terms "accounting firms" and "audit firms" interchangeably in this article for the purpose of clarity.
1. Deloitte
Headquarters: London, United Kingdom
Global Revenue: $59.3 billion
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| Deloitte Touche Tohmatsu Limited, or Deloitte for short, which is widely known as the largest accounting firm in the world |
Deloitte, officially called Deloitte Touche Tohmatsu Limited, is the largest accounting firm in the U.S. and the world both by revenue and number of employees (415,000).
Founded in 1854, Deloitte is also one of the oldest firms and has managed to hold its original namesake through countless mergers and acquisitions. A member of the “Big Four” accounting firms, Deloitte’s U.S. revenues neared $30 billion for the 2022 fiscal year.
They were able to pass PwC in 2016. They ranked behind PwC for their 2015 revenues.
2. PwC
Headquarters: London, United Kingdom
Global Revenue: $50.3 billion
The aforementioned PwC comes in at number 2 on the top 10 accounting firms ranking in Europe and in the world.
PricewaterhouseCoopers International Limited, better known as PwC, is a multinational accounting firm operating in over 150 countries.
Price Waterhouse and Coopers & Lybrand merged to form PwC in 1998, but both companies were established in the mid-1800s. PwC is the second-largest accounting firm in the world and the U.S. by revenue, with global revenue exceeding $50 billion for the fiscal year 2022 and exceeding $18 billion in the U.S.
PwC made 45 billion in 2020.
They made $42.4 billion in revenue for 2019 and 40.7 billion in 2018.
They made $37.7 billion in revenue for 2017.
They made $35.9 billion in revenue for 2016.
3. EY
Headquarters: London, United Kingdom
Global Revenue: $45.4 billion
Ernst & Young, or EY, was officially created in 1989 from a merger of the then-fourth and fifth largest firms in the world: Ernst & Whinney and Arthur Young & Co.
EY has been consistently ranked as one of the best companies to work for by Fortune magazine for 25 years and currently has operations in more than 150 countries. 284,000 professionals work for EY worldwide.
The third-ranked company is Ernst and Young. EY typically ranks third because PwC and Deloitte are typically several billion dollars ahead of them. Their consulting and auditing practices are not as developed as those of Deloitte and PwC. They fall behind their competitors as a result.
Ey earned revenues of $36.4 billion in 2019.
EY earned revenues of $34.8 billion in 2018.
EY earned revenues of $31.4 billion in 2017.
EY earned revenues of $29.6 billion in 2016.
4. KPMG
Headquarters: London, United Kingdom and Amstelveen, Netherlands
Global Revenue: $34.6 billion
KPMG, an initialism of Klynveld, Peat, Marwick, and Goerdeler, was founded in 1987. Though it’s incorporated in London, KPMG’s headquarters are in the Netherlands. KPMG operates in 145 countries, and its U.S. revenue was close to $11.5 billion for 2022.
KPMG has the least amount of employees in the big 4 with 219,000.
KPMG earned revenues of $29.75 billion for their 2019 fiscal year.
KPMG earned revenues of $28.96 billion for their 2018 fiscal year.
KPMG earned revenues of $26.4 billion for their 2017 fiscal year.
KPMG earned revenues of $25.42 billion for their 2016 fiscal year.
5. BDO
Headquarters: Zaventem, Belgium
Global Revenue: $12.8 billion
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| BDO Global |
BDO stands for Binder, Dijker, Otter — the initials of the three firms that merged to create BDO in 1963. BDO is an accounting network, meaning that BDO firms operating in various countries worldwide, like Canada or Australia, are individual legal entities. The BDO member firm in the U.S. had around $2.5 billion in revenue in 2022.
BDO operates in over 150 countries in the world. The number of employees working at BDO was 67,731. BDO has 1,401 offices across the globe.
BDO credits the strategic mergers that took place in 2016 for their growth. BDO will need to keep merging on a global scale in order to overtake the Big 4 accounting firms. The big four are known as the big 4 due to their widespread presence.
6. RSM International
Headquarters: London, United Kingdom
Global Revenue: $7.3 billion
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| RSM is a global network of accounting, finance, tax, and audit experts. |
Of the top 10 accounting firms in Europe and the world, RSM is the sixth largest. Over 41,420 people are employed by RSM, who have 793 offices. While the network's two largest firms are in the United States and the United Kingdom, RSM currently provides professional services in 123 different nations.
The accounting network RSM was established in 1964. The initials of the three founding firms, Robson Rhodes, Salustro Reydel, and McGladrey, are the source of the name RSM. The individual member firms of RSM operate as separate legal entities because it is an accounting network.
They earned $8 billion for the fiscal year ended December 2022.
They earned revenues of $5.1 billion for their fiscal year ended December 31, 2017.
They earned revenues of $4.87 billion for their fiscal year ended December 31, 2016.
7. Grant Thornton
Headquarters: London, United Kingdom
Global Revenue: $7.2 billion
Grant Thornton was founded in 1980 as a professional services network. The network offers accounting and consulting products to 147 markets and employs more than 68,000 people.
Grant Thornton’s clients include public sector institutions, private businesses, and public interest entities.
Grant Thornton’s revenue by region were as follows:
Africa – $98 million
Americas – $2,261 million
Asia Pacific – $692 million
CIS – $31 million
Europe – $1,667 million
Middle East – $40 million
8. Nexia International
Headquarters: London, UK
Global Revenue: $5 billion
Nexia has moved up to the 8th largest accounting firm in the world with $4.5 billion in revenue. The number of employees working at Nexia International was around 34,000.
Nexia has 2,594 partners working around the world.
Nexia earns 50% of their revenue in North America, 43% in Europe, Middle East, & Africa, 6% in Asia Pacific and 1% in South America.
Nexia earns 45% of their revenue from audit work, 26% from tax services and 29% from advisory services.
9. Baker Tilly International
Headquarters: London, United Kingdom
Global Revenue: $4.7 billion
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| Baker Tilly is the fastest-growing business on this list |
With 700 offices worldwide, Baker Tilly International is an accounting network founded in London, England. Baker Tilly was established in 1987 and has since added commercial law and real estate advisory services to its auditing and accounting services.
The ninth-largest accounting firm in both Europe and the entire world is Baker Tilly. 30,490 professionals work for Baker Tilly globally.
They operate in over 147 countries.
10. CLA
Headquarters: Minneapolis, Minnesota
Global Revenue: $1.6 billion
CliftonLarsonAllen, or CLA, is an accounting network founded in 2012 after a merger of U.S.-based firms Clifton Gunderson LLP and LarsonAllen LLP. Through its global network, CLA provides wealth advisory and accounting services in nearly 130 locations.
In Conclusion
The accounting is an essential function of any business. Whether you are a small business owner or a multinational corporation, accurate and reliable financial information is crucial for making informed decisions and achieving your financial goals.
By working with an experienced accounting firm, you can ensure that your financial information is accurate, up-to-date, and compliant with legal and regulatory requirements.
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