SURVEY
WORLD
International Accounting Bulletin
down 5% year-on-year. Despite a raft of
losses which followed PKF UK and BDO
UK’s merger in 2012, PKF International
chief executive John Sim remains positive.
Sim says the network has done well
recruiting new members in some of the key
economies where it had lost most of its representation, such as the UK and Australia.
He adds that the new additions are “more
active, ambitious and willing to cooperate
then any of the former firms”.
Associations
Surveyed associations have also had lift
in growth as combined fees earned are at
$22.1bn, up 5% year-on-year, an improvement on 2013’s 3%.
Praxity remains in the lead for associations with $4.3bn reported in fee income in
2014, up 7%. Praxity includes Mazars in its
revenues due to the network being a member of the association, with Mazars contributing $1.5bn to the association’s revenues
in 2014. Praxity’s chairman Rick Anderson
describes the year as solid and says that
in many ways the performance is above
expectations especially in light of what the
profession has gone through since 2009.
Out of the 25 surveyed associations, seven
report a decrease in year-on-year revenues,
which is up from five in financial year 2013.
Audit vs advisory
In a difficult audit environment, the share
■■ WORLD SURVEY 2015
NETWORKS: FEE DATA
Fee split (%)
Rank
Name
Fee income
($m)
Growth
rate(%)
Audit &
accounting
Tax
services
Management
consulting
Corporate
recovery/
insolvency
Corporate
finance
Litigation
support
Year-end
Other
NETWORKS
1
Deloitte*
34,200.0
6
39
19
33
9
-
-
-
May-14
2
PwC*
33,952.0
6
44
26
3
EY*
27,369.0
6
41
26
-
-
-
-
30
Jun-14
24
9
-
-
-
Jun-14
4
KPMG*
24,820.0
6
42
21
-
-
-
-
37
Sep-14
5
BDO (1)
7,021.9
9
57
21
-
-
-
-
22
Sep-14
6
Grant Thornton International*
4,728.6
5
43
20
29
-
-
-
8
Sep-14
7
RSM International (2)
4,391.2
18
50
29
19
-
-
-
2
Dec-14
8
Baker Tilly International*
3,562.8
5
51
25
10
2
3
1
8
Jun-14
9
Crowe Horwath International
(3)
3,435.9
8
46
25
11
2
1
1
14
Dec-14
10
Nexia International*
3,072.6
5
45
27
6
1
1
2
18
Jun-14
11
Moore Stephens International
(4)
2,683.3
0
52
25
8
2
1
1
11
Dec-14
12
PKF International (5)
2,388.1
-5
58
21
9
3
2
1
6
Jun-14
13
Kreston International*
2,035.0
5
45
29
10
2
2
-
12
Oct-14
14
HLB International*
1,889.6
13
50
22
12
2
2
1
11
Dec-14
15
Mazars*
1,459.2
6
52
11
-
-
-
-
37
Aug-14
16
UHY International*
640.0
-1
60
18
10
1
1
1
9
Dec-14
17
Russell Bedford International*
(6)
390.0
2
55
23
7
-
-
-
15
Jun-14
18
ECOVIS International (7)
380.0
6
43
28
9
3
2
2
13
Dec-14
19
ShineWing International* (8)
263.8
7
69
5
9
4
-
-
13
Jun-14
20
TGS Global*
177.1
12
71
16
3
1
1
2
6
Dec-14
21
Santa Fe Associates (9)
170.4
36
68
15
17
-
-
-
-
Dec-14
22
Reanda International (10)
144.1
18
59
11
8
1
3
1
17
Dec-14
23
IECnet/EPR*
140.8
22
57
23
6
9
-
2
3
N/A
24
Auren*
110.0
10
46
33
17
1
1
1
1
Dec-14
25
FinExpertiza (11)
70.8
–
45
10
5
-
-
1
39
Jun-14
26
SMS Latinoamérica (12)
69.6
3
47
28
18
1
3
-
3
Dec-14
27
UC&CS America*
47.7
2
74
16
10
-
-
-
-
Dec-14
159,613.5
6
Total revenue/growth
Notes: (1) BDO revenue includes $1.6bn from alliance member firms; (2) RSM International revenue includes $52.9m from alliance firms; (3) Crowe Horwath International revenue includes $880.7m from alliancen member firms; (4) Moore Stephens International
revenue includes $50.7m from alliance member firms; (5) PKF International revenue includes $801.7m from alliance member firms; (6) Other includes corporate finance, corporate recovery/insolvency and litigation support; (7) ECOVIS International revenue
does not include fee income of associated US partners. If it were to, the combined revenue of the network would be $566.4m; (8) ShineWing International data for FY 2013 has been amended from last year’s submission; (9) Santa Fe Associates revenue includes
$38.1m from alliance member firms; (10) Reanda revenue includes $11.9m from alliance or correspondent member firms; (11) FinExpertiza revenue includes $27m from alliance member firms; (12) SMS Latinoamérica revenue includes $2.6m from alliance or
correspondent member firms. *Disclaimer = Only data from the named member firm or the exclusive member firms within a network/association is included. Data relating to correspondent and non-exclusive member firms is not included.
Source: International Accounting Bulletin
8 y January 2015
www.InternationalAccountingBulletin.com