INDUSTRIES & MARKETS Accounting services in the U.S. Table of Contents 01 Industry overview Revenue of accounting services in the U.S. 2013-2023 03 Leading U.S. accounting firms by revenue 2020-2023 04 Audit and attest revenue of the leading U.S. accounting firms 2023 05 Tax services revenue of the leading U.S. accounting firms 2020-2023 06 Consulting services revenue of the biggest U.S. accounting firms 2023 07 Revenue distribution of the leading U.S. accounting firms by service line 2023 08 U.S. household expenditure on accounting fees 2007-2022 09 02 Employment States with the most accountants and auditors in the U.S. 2023 11 Number of partners at the leading accounting firms in the U.S. 2023 12 Number of professionals at the leading accounting firms in the U.S. 2023 13 Number of employees at the leading accounting firms in the U.S. 2023 14 Number of accountants and auditors employed in the U.S. 2012-2023 15 Bookkeeping, accounting and auditing clerks employed in the U.S. 2012-2023 16 Share of employees in accounting services in the U.S. 2023, by race and ethnicity 17 Hiring plans in accountancy businesses in the U.S. Q1 2024 18 03 Wages Mean annual wage of bookkeeping, accounting, and auditing clerks U.S. 2013-2023 1 20 Mean hourly wage of bookkeeping, accounting and auditing clerks U.S. 2013-2023 21 Highest paying states for accountants and auditors in the U.S. 2023 22 04 "Big Four" in the U.S. Revenue of the Big Four accounting/audit firms worldwide by region 2023 24 Gross revenue of the Big Four accounting/audit firms in the U.S. 2023 25 Gross revenue of Deloitte in the U.S. 2012-2023 26 Gross revenue of PwC in the U.S. 2012-2023 27 Gross revenue of EY in the U.S. 2012-2023 28 Gross revenue of KPMG in the U.S. 2012-2023 29 CHAPTER 01 Industry overview Revenue of accounting services in the United States from 2013 to 2023 (in billion U.S. dollars) Revenue of accounting services in the U.S. 2013-2023 160 140 Revenue in billion U.S. dollars 120 108.19 113.32 121.41 128.84 131.8 134.83 2016 2017 2018 138.93 140.38 141.29 143.69 2019 2020 2021 2022 147.5 100 80 60 40 20 0 3 2013 2014 2015 Description: The revenue generated by accounting services in the United States reached 145.7 billion U.S. dollars in 2023, up from roughly 144 billion U.S. dollars in 2022. The revenue generated by this service was the highest it had ever been in 2023. Read more Note(s): United States; 2010 to 2023 Source(s): IBISWorld 2023 Leading accounting firms in the United States from 2020 to 2023, by revenue (in billion U.S. dollars) Leading U.S. accounting firms by revenue 2020-2023 Revenue in billion U.S. dollars 2023 Firm (headquarters, fiscal year end) 0 2021 10 2020 15 20 25 Deloitte* (New York City, June) PwC* (New York City, June) Ernst & Young* (New York City, June) KPMG* (New York City, September) RSM U.S. (Chicago, December) BDO USA (Chicago, April) Grant Thornton (Chicago, July) CLA (December) Forvis (May) Baker Tilly (Chicago, May) CBIZ & MHM (Cleveland, December) 4 5 2022 3.89 3.6 3.13 2.79 2.82 2.49 2 1.8 2.36 2.31 1.97 1.92 2 1.66 1.45 1.19 1.69 1.49 9.97 9.57 12.2 11.44 1.58 1.41 1.15 0.79 1.42 1.24 1.08 0.82 Description: In 2023, Deloitte was the largest accounting firm in the United States with a revenue of almost 32.7 billion U.S. dollars. Read more Note(s): United States; 2020 to 2023; * Gross revenue. Headquarters location of CLA and Forvis not available/applicable. Figures have been rounded. Read more Source(s): AccountingToday 16.17 15.82 17.97 18 19.11 20.73 21.46 22.93 23.16 22.75 30 27.94 35 32.67 Leading accounting firms in the United States in 2023, by revenue from audit and attest services (in million U.S. dollars) Audit and attest revenue of the leading U.S. accounting firms 2023 10,000 9,147.32 9,000 Revenue in million U.S. dollars 8,000 7,000 5,915 6,000 5,365 5,000 3,782 4,000 3,000 2,000 1,213.72 1,000 0 5 Deloitte PwC Ernst & Young KPMG BDO USA 1,086.46 897.63 RSM U.S. Grant Thornton Description: In 2023, Deloitte was the largest accounting firm in the United States in terms of audit and attest revenue, with revenue of approximately 9.1 billion U.S. dollars. PwC followed, with revenue from audit and attest services amounting to 5.9 billion U.S. dollars. Read more Note(s): United States; 2023 Source(s): AccountingToday 640.68 Forvis Leading accounting firms in the United States from 2020 to 2023, by revenue from tax services (in million U.S. dollars) Tax services revenue of the leading U.S. accounting firms 2020-2023 2020 2021 2022 2023 6,000 Revenue in million U.S. dollars 5,000 4,000 3,000 2,000 1,000 0 6 Ernst & Young PwC Deloitte H&R Block KPMG RSM U.S. BDO USA Ryan CLA Description: In 2023, Ernst & Young was the leading accounting firm in the United States in terms of tax services revenue, with a revenue of almost 5.6 billion U.S. dollars. PwC was the second-biggest accounting firm, with a U.S. revenue of approximately 5.5 billion U.S. dollars from tax services in 2023. Read more Note(s): United States; 2020 to 2023 Source(s): AccountingToday Grant Thornton Leading accounting firms in the United States in 2023, by revenue from consulting services (in million U.S. dollars) Consulting services revenue of the biggest U.S. accounting firms 2023 20,000 18,000 17,641.26 Revenue in million U.S. dollars 16,000 14,000 11,375 12,000 10,515.4 10,000 8,000 6,000 5,002 4,000 1,506.12 2,000 0 7 Deloitte PwC Ernst & Young KPMG RSM US 826.76 591.25 586.23 Grant Thornton Crowe Baker Tilly Description: In 2023, Deloitte was the leading accounting firm in the United States, with consulting revenue of around 18 billion U.S. dollars from consulting services. The so-called Big Four continued to lead the industry by some way. Read more Note(s): United States; 2020 to 2023 Source(s): AccountingToday Share of revenue of the leading accounting firms in United States in 2023, by service line Revenue distribution of the leading U.S. accounting firms by service line 2023 Share of revenue A&A 0% 20% Tax MAS (consulting) 40% Other 60% Deloitte PwC Ernst & Young KPMG RSM U.S. BDO USA Grant Thornton CLA Forvis Baker Tilly CBIZ & Mayer Hofmann McCann Crowe 8 Description: In 2023, Deloitte generated the majority of its revenue in the United States from consulting services. Deloitte was also the leading accounting firm by revenue in the same year. Read more Note(s): United States; 2023 Source(s): AccountingToday 80% 100% 120% Average annual expenditure on accounting fees per consumer unit in the United States from 2007 to 2022 (in U.S. dollars) U.S. household expenditure on accounting fees 2007-2022 Average annual expenditure in U.S. dollars 120 101.78 100 80 77.08 75.03 62.08 60 65.52 58.73 88.24 89.72 88.91 76.56 75.62 65.32 62.95 81.2 62.83 40 20 0 9 89.84 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Description: In 2022, the average annual expenditure on accounting fees per consumer unit stood at approximately 102 U.S. dollars. This was an increase of roughly 20 U.S. dollars compared to the previous year. Read more Note(s): United States; 2007 to 2022 Source(s): Bureau of Labor Statistics 2019 2020 2021 2022 CHAPTER 02 Employment States with the highest employment level in accounting and auditing in the United States as of May 2023 States with the most accountants and auditors in the U.S. 2023 Number of employees 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 California 166,020 New York 119,150 Texas 111,160 Florida Pennsylvania 11 180,000 89,350 54,540 Description: In 2023, California was the state with the highest employment level in accounting and auditing, with approximately 166,000 working within this industry. The state of New York was second in the list, employing roughly 119,000, as well as being second in the list of highest paying states for accounting and auditing. Read more Note(s): United States; May 2023 Source(s): Bureau of Labor Statistics Number of partners at the leading accounting firms in the United States in 2023 Number of partners at the leading accounting firms in the U.S. 2023 Number of partners 0 1,000 2,000 3,000 4,000 Deloitte 4,037 Ernst & Young 3,700 Accounting firm KPMG 12 6,000 7,000 6,585 PwC 2,482 CLA 1,329 RSM US 1,180 BDO USA 860 CBIZ & MHM 810 Grant Thornton 595 Baker Tilly 578 Marcum 546 Forvis 511 Crowe 509 Citrin Cooperman & Co. 490 Moss Adams 5,000 402 Description: In 2023, PwC had both the second highest number of partners as well as the second highest revenue of the leading accounting firms in the United States. Read more Note(s): United States; 2023 Source(s): AccountingToday Number of professionals at the leading accounting firms in the United States in 2023 Number of professionals at the leading accounting firms in the U.S. 2023 Number of professionals 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Deloitte 139,788 Ernst & Young 46,400 KPMG 38,811 Accounting firm PwC* 13 35,350 RSM US 12,543 BDO USA 9,513 Grant Thornton 8,023 CLA 5,677 Crowe 4,666 Baker Tilly 4,654 Forvis 4,286 CBIZ & MHM 3,492 Moss Adams 3,364 CohnReznick 3,016 Marcum 2,631 Description: With almost 140,000 professionals employed in 2023, Deloitte represented the largest accounting firm in the United States in terms of staff. In the same year, Ernst & Young (EY) came second in the list of accounting firms with the most professionals, where they employed less than half of the number of that of Deloitte. Read more Note(s): United States; 2023 Source(s): AccountingToday 160,000 Number of employees at the leading accounting firms in the United States in 2023 Number of employees at the leading accounting firms in the U.S. 2023 Number of employees 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 Deloitte 75,000 Ernst & Young 55,900 Accounting firm KPMG 14 180,000 171,100 PwC 50,306 RSM US 17,085 BDO USA Grant Thornton 160,000 12,212 10,114 CliftonLarsonAllen 8,120 Baker Tilly 6,777 Crowe 6,296 Forvis 5,910 CBIZ / Mayer Hoffman McCann 5,796 Moss Adams 4,782 Eisner Advisory Group 4,280 CohnReznick 3,967 Description: Unsurprisingly the Big Four accounting firms – Deloitte, PwC, EY and KPMG – maintained the largest workforces of the accounting firms in the United States in 2023, ranging from Deloitte with approximately 171,000 staff to KPMG with their workforce of roughly 50,300. Outside of the Big Four there is a significant drop to the next-largest U.S. accounting firm, RSM, who employed 17,085 U.S. staff. Read more Note(s): United States; 2023 Source(s): AccountingToday Number of accountants and auditors employed in the United States from 2012 to 2023 (in millions) Number of accountants and auditors employed in the U.S. 2012-2023 1.6 Number of employees in millions 1.4 1.28 1.2 1.17 1.19 2013 2014 1.23 1.25 2015 2016 1.24 1.26 1.28 1.27 2017 2018 2019 2020 1.32 1.4 1.44 1.0 0.8 0.6 0.4 0.2 0.0 15 2012 2021 Description: In 2023, there were a record amount of accountants and auditors working in the United States, with a workforce that totaled more than 1.4 million people. This was an increase of approximately 40,000 when compared to the previous year. Read more Note(s): United States; 2012 to 2023 Source(s): Bureau of Labor Statistics 2022 2023 Number of bookkeeping, accounting and auditing clerks employed in the United States from 2012 to 2023 (in millions) Bookkeeping, accounting and auditing clerks employed in the U.S. 2012-2023 2.0 Number of employees in millions 1.8 1.8 1.59 1.6 1.58 1.58 1.57 1.53 1.53 1.51 2017 2018 2019 1.44 1.51 1.55 1.5 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 16 2012 2013 2014 2015 2016 2020 2021 2022 Description: The number of bookkeeping, accounting and auditing clerks employed in the United States decreased steadily between 2012 and 2021. In 2022, there was a slight increase as approximately 1.6 million people were employed in these professions. In 2023, however, this figure fell once again. Read more Note(s): United States; 2012 to 2023 Source(s): Bureau of Labor Statistics 2023 Share of employees working in accounting services in the United States in 2023, by race and ethnicity Share of employees in accounting services in the U.S. 2023, by race and ethnicity 12% 11% 10.1% Share of employees 10% 9.2% 8% 6% 4% 2% 0% 17 Asian Hispanic African American Description: In 2023, the racial group with the largest representation in accounting services in the United States were Asian where 11 percent of the total workforce was represented. African Americans represented 9.2 percent of those working in accounting services in the United States. Read more Note(s): United States; 2023 Source(s): Bureau of Labor Statistics Hiring plans in accountancy businesses in the United States for the first quarter in 2024 Hiring plans in accountancy businesses in the U.S. Q1 2024 60% 49% Share of respondents 50% 40% 30% 22% 20% 15% 11% 10% 0% 18 We have the right number of employees We have too few employees and planning to hire We have too few employees, but hesitating to hire We have an excess number of employees Description: In the first quarter of 2024, hiring plans in accountancy businesses in the United States were relatively optimistic according to those who were surveyed. 22 percent of respondents claimed to have too few employees and were looking to hire, whereas 49 percent of respondents claimed they already had the right number of employees. Read more Note(s): United States; February 6th to February 28th, 2024; 275 respondents; AICPA members in business & industry Source(s): AICPA CHAPTER 03 Wages Mean annual wage of bookkeeping, accounting, and auditing clerks in the United States from 2013 to 2023 (in U.S. dollars) Mean annual wage of bookkeeping, accounting, and auditing clerks U.S. 2013-2023 51,000 49,580 Mean annual wage in U.S. dollars 49,000 47,440 47,000 45,140 45,000 44,100 43,000 42,110 42,960 41,110 40,220 41,000 38,990 39,000 37,250 38,070 37,000 35,000 20 2013 2014 2015 2016 2017 2018 2019 2020 2021 Description: In 2023, bookkeeping, accounting, and auditing clerks in the United States earned a mean annual wage of approximately 50,000 U.S. dollars. In the same year, there were approximately 1.55 million bookkeeping, accounting, and auditing clerks in the United States. Read more Note(s): United States; 2013 to 2023 Source(s): Bureau of Labor Statistics 2022 2023 Mean hourly wage of bookkeeping, accounting, and auditing clerks in the United States from 2013 to 2023 (in U.S. dollars) Mean hourly wage of bookkeeping, accounting and auditing clerks U.S. 2013-2023 25.0 23.84 24.0 Mean hourly wage in U.S. dollars 22.81 23.0 21.7 22.0 21.2 21.0 20.25 20.0 19.4 19.0 18.0 17.0 21 17.91 2013 18.3 2014 20.65 19.76 18.74 2015 2016 2017 2018 2019 2020 2021 2022 Description: In 2023, bookkeeping, accounting, and auditing clerks in the United States earned on average almost 24 U.S. dollars per hour. In the same year, there were approximately 1.5 million bbookkeeping, accounting, and auditing clerks in the United States. Read more Note(s): United States; 2013 to 2023 Source(s): Bureau of Labor Statistics 2023 States with the highest wages for accountants and auditors in the United States in 2023 (in U.S. dollars) Highest paying states for accountants and auditors in the U.S. 2023 Mean annual wage in U.S. dollars 0 20,000 40,000 60,000 80,000 100,000 New York 113,310 District of Columbia 113,190 New Jersey California Massachusetts 22 120,000 110,700 100,560 99,360 Description: In 2023, New York was the U.S. state with the highest salary for accountants and auditors, with a mean annual wage of over 113,000 U.S. dollars. The District of Columbia and New Jersey followed in the list of the states with the highest salaries for these professions. Read more Note(s): United States; May 2023 Source(s): Bureau of Labor Statistics CHAPTER 04 "Big Four" in the U.S. Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars) Revenue of the Big Four accounting/audit firms worldwide by region 2023 Americas EMEA* Asia Pacific** 70 Revenue in billion U.S. dollars 60 10 50 19.1 10.01 7.5 40 19.55 30 20 15.7 35.9 23.54 10 0 24 6.1 18.3 23.6 14.6 Deloitte PwC EY KPMG Description: Deloitte reported total revenue figures of around 65 billion U.S. dollars in 2023, the highest among the Big Four accounting firms. The company also led the rankings in the Americas, but it was PwC who came out on top in the EMEA region (Europe, the Middle East, and Africa). Read more Note(s): Worldwide; 2023; * Ernst & Young - EMEIA: Europe, Middle East, India & Africa; PwC- EMEA: Middle East and Africa, Western Europe, and Central and Eastern Europe; KPMG - EMEA: Europe, Middle East, Africa and India; ** Ernst & Young - [...] Read more Source(s): Deloitte; EY; KPMG; PwC Gross revenue of the Big Four accounting/audit firms in the United States in 2023 (in billion U. S. dollars) Gross revenue of the Big Four accounting/audit firms in the U.S. 2023 35 32.67 Gross revenue in billion U.S. dollars 30 25 22.75 21.46 20 15 12.2 10 5 0 25 Deloitte PwC Ernst & Young KPMG Description: Deloitte generated the largest revenue of the Big Four accounting firms in the United States in 2023, earning approximately 10 billion U.S dollars more than their nearest competitor, PricewaterhouseCoopers (PwC). The ranking mirrored the revenue of the Big Four firms worldwide, as Deloitte and PwC again competed for the top two positions. Read more Note(s): United States; 2023 Source(s): AccountingToday Gross revenue of Deloitte in the United States from 2012 to 2023 (in billion U.S. dollars) Gross revenue of Deloitte in the U.S. 2012-2023 35 32.67 Gross revenue in billion U.S. dollars 30 27.94 25 21.9 20 15 13.07 13.89 14.91 16.15 17.52 18.55 23.16 22.93 2020 2021 19.9 10 5 0 26 2012 2013 2014 2015 2016 2017 2018 2019 Description: In 2023, Deloitte generated a revenue of approximately 33 billion U.S. dollars in the United States. This was a record turnover for the firm, beating the last record set in the previous year by almost five billion U.S. dollars. Read more Note(s): United States; 2012 to 2023; fiscal year ended June of each year. Source(s): Deloitte 2022 2023 Gross revenue of PwC in the United States from 2012 to 2023 (in billion U.S. dollars) Gross revenue of PwC in the U.S. 2012-2023 25 22.75 20.73 Gross revenue in billion U.S. dollars 20 14.92 15 11.04 10 17.4 18 17.97 2020 2021 12.2 9.55 5 0 27 11.72 15.62 16.85 2012 2013 2014 2015 2016* 2017 2018 2019 Description: The gross revenue of PwC in the United States increased significantly between 2012 and 2023 by approximately 12 billion U.S. dollars. PwC generated 22.75 billion U.S. dollars in the United States in the 2023 fiscal year. Read more Note(s): United States; 2012 to 2023; Fiscal year ended June of each year; *The figure for 2016 shows the revenue for all of North America. Figures prior to 2023 come from previous reports. Revenue figures are from PwC annual reports. Read more Source(s): AccountingToday 2022 2023 Gross revenue of EY (Ernst & Young) in the United States from 2012 to 2023 (in billion U.S. dollars) Gross revenue of EY in the U.S. 2012-2023 25 21.46 19.11 Gross revenue in billion U.S. dollars 20 15 10 9.9 12.2 14 15.82 16.2 2020 2021 5 0 28 8.2 9.1 11.19 13 15 2012 2013 2014 2015 2016 2017 2018 2019 Description: The gross revenue of EY in the United States increased significantly between 2012 and 2023 by approximately 13 billion U.S. dollars. EY generated roughly 21.46 billion U.S. dollars in the United States in the 2023 fiscal year. Read more Note(s): United States; 2012 to 2023; Fiscal year ended June of each year Source(s): EY 2022 2023 Gross revenue of KPMG in the United States from 2012 to 2023 (in billion U.S. dollars) Gross revenue of KPMG in the U.S. 2012-2023 14 11.44 Gross revenue in billion U.S. dollars 12 10 7.89 8 6 5.75 6.14 8.63 8.96 9.46 9.97 9.57 12.2 9.97 6.87 4 2 0 29 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Description: The gross revenue of KPMG generated in the United States increased significantly between 2012 and 2023, despite some fluctuations. KPMG generated approximately 12.2 billion U.S. dollars in the United States in its 2023 fiscal year. Read more Note(s): United States; 2012 to 2023; Fiscal year ended September of each year Source(s): AccountingToday 2022 2023 Sources AccountingToday AICPA Bureau of Labor Statistics Deloitte EY IBISWorld KPMG PwC Statista 30
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