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).
Accounting around the world
Deloitte generated almost 36 billion U.S. dollars in North and South America in 2023, which was slightly more than half of their revenue worldwide. A similar story was reported by PwC, with almost half of their aggregated worldwide revenue in 2023 being made in the regions of the Asia Pacific and EMEA. PwC experienced particularly strong growth in EMEA where aggregate revenues in the region increased in recent years.
Who are the Big Four?
The four biggest accounting firms worldwide are Deloitte, PricewaterhouseCoopers (PwC), Ernst and Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG). Known as the Big Four, the companies have a significant oligopoly in the accounting market and generated a combined revenue worldwide of over 200 billion U.S. dollars and employed over one million people globally in 2023. Until 1989, the market had been dominated by eight accounting firms – also known as audit firms or professional services networks – but the number has since halved due to mergers and the collapse of major American accounting firm Arthur Andersen.
Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region
(in billion U.S. dollars)
* 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 - Asia Pacific: Asia Pacific, and Japan; PwC - Asia Pacific: Asia, Australasia, and Pacific Islands;
Fiscal years: Deloitte ends May 31; PwC and EY end June 30; KPMG ends September 30.
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Statista. (December 13, 2023). Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/
Statista. "Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars)." Chart. December 13, 2023. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/
Statista. (2023). Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/
Statista. "Revenue of The Big Four Accounting/Audit Firms Worldwide in 2023, by Geographical Region (in Billion U.S. Dollars)." Statista, Statista Inc., 13 Dec 2023, https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/
Statista, Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars) Statista, https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/ (last visited November 17, 2024)
Revenue of the Big Four accounting/audit firms worldwide in 2023, by geographical region (in billion U.S. dollars) [Graph], Statista, December 13, 2023. [Online]. Available: https://www.statista.com/statistics/250944/big-four-accounting-firms-geographical-breakdown-of-revenues/