With a total revenue of almost 65 billion U.S. dollars, Deloitte was the largest of the Big Four accounting firms in 2023. The combined revenue of the firms increased steadily in the last decade and exceeded 200 billion U.S. dollars in 2023.
The Big Four accounting firms
The leading accounting firms in the world are Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG). The firms provide their clients with various professional services that include auditing, corporate finance, and legal advice. Consulting revenue accounted for around 40 percent of Deloitte’s record total in 2023, whereas PwC and EY received most of their revenue from auditing services.
International firms with workforces to match
When broken down by geographical region, the three biggest firms generated most of their revenue in the Americas region – KPMG’s most lucrative region was its network of firms in Europe, the Middle East, and Africa (including India). The United States has remained a major market for all four firms, where Deloitte generated nearly half of its total revenue in 2023. In terms of the number of employees, the four firms had a combined global workforce of more than one million people, as Deloitte once again led the way in 2023.
The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue.
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accounting/audit firms worldwide in 2023. With a total revenue of almost 65 billion U.S. dollars, Deloitte was the largest of the Big Four accounting firms in 2023. The combined revenue of the firms increased steadily in the last decade and exceeded 200 billion U.S. dollars in 2023.
The Big Four accounting firms – Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and KPMG – have solidified their positions as global industry leaders, boasting a combined revenue exceeding $200 billion in 2023. Together, these firms audit the majority of publicly traded companies worldwide.
Out of the Big Four, Deloitte brought in the highest gross revenue in the United States. Following Deloitte was PwC, bringing in 15.62 billion U.S. dollars, then Ernst & Young, which brought in 13 billion U.S. dollars.
Turnover at CPA firms averages 15%, according to an INSIDE Public Accounting report, and turnover at professional services firms, including the Big Four accounting firms, averaged 13.4% in 2022. Almost 84% of accounting turnover is voluntary.
Ranked as the most prestigious accounting firm by Vault for seven straight years, PwC boasts the largest audit fees and biggest number of Fortune 100 audit clients.
Revenue of the Big Four accounting/audit firms worldwide in 2023. With a total revenue of almost 65 billion U.S. dollars, Deloitte was the largest of the Big Four accounting firms in 2023. The combined revenue of the firms increased steadily in the last decade and exceeded 200 billion U.S. dollars in 2023.
With nearly 640 billion U.S. dollars in revenue, Walmart topped the ranking of the hundred largest companies globally, followed by Amazon. Walmart was also the largest company in the world based on its number of employees, with some 2.3 million all over the world.
EY is the second biggest of the Big Four in terms of headcount, which lends credence to this claim in 2019 that their acceptance rate was approximately 3.5%, based on 69,000 global hires from 2,000,000 global applicants.
If you want to make the most money in consulting, Deloitte pays the best. However if you want to make the most money in auditing or tax PwC is likely your best bet.
In general, PwC and Deloitte are considered the most prestigious of the Big 4. If you ask most people about prestige, they'll probably rank PwC/Deloitte > EY > KPMG. This is reflected in pricing, for example. Big 4 will compete with each other on pricing.
However, it can be a real challenge when pursuing a career with these major accounting firms—the level of competition you'll face is fierce. There are hundreds of thousands of people working for each of these firms, and each year, they face more applicants than they can reasonably handle.
It's said to be one of the friendlier places to work. KPMG is well known for its excellent staff development with pass rates for key qualifications higher than the industry standard. Its culture is quirky with less pressure to fit into the stereotypical city graduate lifestyle.
According to the Gartner Security Services 2023 market share report, Gartner estimates that the overall Security services market to be at $65.5 billion with a growth of 13.6% in 2023. As per the report, Deloitte has the largest market share with 16.7% of the Security services market globally.
Employment of accountants and auditors is projected to grow 6 percent from 2023 to 2033, faster than the average for all occupations. About 130,800 openings for accountants and auditors are projected each year, on average, over the decade.
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