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Overview of Accounting Firms in the US
There is more than 1, 38,000 accounting firms present in the United States. These firms become bigger in size and strength with the help of regular mergers, acquisitions, and international growth. Thus it may happen that their rankings may vary with passing time.
Accounting Firms in USA have grown in size on the back of the rise in the equity market over the last five years. The effect of quantitative easing and lower interest rates for the very long period of time has resulted in the rise of capital markets and the expansion of businesses in the United States. The accounting firms have benefited due to the expansions in business in the United States. The top line for the accounting firms over the last five years has increased by 50%, by providing payroll services, tax preparation, accounting. The accounting firms in USA employs close to 900000 employees. In the next few years, the growth in private investments and capital markets will drive further growth for the accounting firms.
Accounting Firms in USA – Services Offered
The services offered by the accounting firms in US to the clients are-
- Tax
- Consulting
- Audit and assurance
- Mergers and acquisition consulting
- Risk and Financial advisory
The industries catered by the top accounting firms in US include Consumer, Energy resources and industrials, financial services, government and public services, life sciences and healthcare and technology media and telecommunications.
Top 10 Accounting Firms in the US
The following are the top 10 accounting firms in US:
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#1. Deloitte
This accounting firm in US is currently ranked as the number one firm has annual revenue of approximately $13,067 million. Deloitte has its headquarters in New York City, NY. It has more than 56,000 employees currently and has more than 80 offices in the United States. Deloitte has its operations in the 4 key areas- audit, advisory, consulting and tax. It boasts of a clientele of service professionals like data analytics, cyber security, finance and accounting, risk, strategy, and operations etc.
#2. PwC
This accounting firm in US comes to a very close second with annual revenue of $9,550 million. It has nearly 35,000 employees in the United States and has 73 offices in the United States. PwC announced their collaboration with Microsoft to come up with a portfolio of services aimed for the tax division.
#3. Ernst & Young
This accounting firm in US comes third in the ranking. It has revenue of more than $8,200 million as of 2012. It has more than 29,000 employees and has its headquarters in the New York City, NY. The company provides services like advisory, assurance, tax and transaction advisory services (TAS). The company has clients from diverse fields like consumer products, financial services, real estate, life sciences, media and entertainment, oil and gas, technology, mining, and metals etc.
#4. KPMG
KPMG comes at the fourth position in the rankings. This firm has annual revenue of over $5,750 million. It employs more than 24,000 people and has 90 offices in the United States. The firm has its headquarters in New York City, NY. KPMG Has acquired Thomson Reuters. The firm provides services in the major areas of audit, tax, and advisory with the industry-specific focus in each domain.
#5. McGladrey
This accounting firm in USA holds the spot of number five in the ranking. This firm has annual revenue of $1,280 million. This firm has currently 6,500 employees and has 75 offices in the United States. The firm has its headquarters in Chicago, IL.
#6. Grant Thornton
This Company comes in the sixth position. It has annual revenues of $1,245 million and has more than 6000 employees. This firm has 54 offices all over the United States. The firm has its headquarters in Chicago, IL. This firm maintained its growth with the help of mergers and acquisitions. It is one of the largest organizations of an audit, tax, and advisory firms.
#7. CBIZ/Mayer Hoffman McCan
This firm has its headquarters in Cleveland, Ohio. It has annual revenue of $645 million. Currently, it has 4000 people working and has 133 offices all over the United States. The company went for a merger with Mayer Hoffman McCan.
#8. BDO
This Company has annual revenue of $618 million and comes at number eight. It has 2,771 employees and 42 offices all over the country. It has its headquarters in Chicago, IL. It provides a diverse range of services like assurance, tax, transaction advisory, investment banking, and corporate real estate.
#9. Crowe Horwath
This Company is headquartered in Oak Brook Terrace, IL. It has annual revenue of $595 million and has more than 2000 employees. It has 28 offices all over the United States.
#10. CliftonLarsonAllen
This accounting firm in USA comes at number ten. It has its headquarters in Milwaukee, WI. It has annual revenue of $568 million and has 3223 people working in its 90 offices all over the country. This firm has its focus on merger synergies and merger integration which has helped the firm to grow and gain higher revenues.
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