Big Four Firms Saw Big Revenue Increase in 2012—Accounting Today

Solid revenue growth last year following strong performance in 2010 and 2011 after a severe revenue decline in 2009

Michael Cohn at Accounting Today reports this growth according to a newly published analysis.  The report, from the social networking forum Big4.com, analyzed the 2012 financial performance of Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers. It found that after a strong 2011, fiscal year 2012 saw increases in revenue for all four firms, with revenues increasing between 1.4 percent and 7.8 percent from 2011, as firms leveraged the global economic recovery, improved equity markets, liquid credit conditions, stricter regulations, globalization and enhanced M&A and IPO activity.  More:

In 2010, Deloitte had surpassed PwC to become the largest Big Four firm, reporting revenues of $26.578 billion and growth of 1.8 percent, just ahead of PwC’s revenues of $26.569 billion and growth of 1.5 percent. Deloitte beat PwC by a small but significant margin of only $9 million.

In 2011 however, PwC regained its leadership position with revenues of $29.2 billion, up 10.0 percent. PwC’s revenues exceeded Deloitte’s revenues of $28.2 billion by more than $400 million, even though Deloitte’s revenue had increased 8.4 percent. In 2012, PricewaterhouseCoopers maintained its leadership position with revenues of $31.5 billion, up 7.8 percent, which exceeded Deloitte’s revenues of $31.3 billion, up by 8.6%, by a slim lead of $200 million.  Ernst & Young posted solid growth and placed third among the Big Four firms, with 2012 revenues of $24.4 billion. E&Y’s revenues rose 6.7 percent from 2011.

Read the whole piece here. 

 

Big Four Saw Big Growth in 2012

See also:

• Big Four Accounting Firms: Shape Shifters   —The Economist
• 2012 Revenues of Big Four Accounting Firms Hit Historic High   —CFO Innovation
• Big Four Set for Fresh Growth in 2013   –CPA Trendlines
• Big Four Firms Had Strong Revenue Growth in 2012  –Business First