SuRvEy WORLd SuRvEy 2014 International Accounting Bulletin
6 y January 2014 www.InternationalAccountingBulletin.com
multinational clients, that includes audits
as well as advisory and tax work. A big
chunk of our growth has come from the
advisory practise. Weve done M&As that
have helped in the Netherlands, the US
and one in the UK and, of course, recently
in South Africa with the PKF practice etc.
Most organisations have yet again been
affected by the robust US dollar, which has
been especially strong against certain cur-
rencies from the emerging markets.
Baker Tilly International chief executive
Geoff Barnes says the network, the eighth-
largest, reported an increase in revenues
of 3%, which in the market in which we
are operating is good and also we report
in US dollars, which is very strong against
some currencies.
In several countries we have seen really
good growth in local currency, but when
converting to US dollars the numbers were
good but not as outstanding, Barnes says.
Baker Tilly International numbers also
dont include the revenues from RSM Tenon
in the UK, which Baker Tilly UK bought at
the end of the summer in a pre-pack deal.
Mainly due to the loss of its only UK firm,
RSM reported a 7% decrease in fee income
to $3.7bn. RSM chief executive Jean Ste-
phens also says the network cancelled its
membership with a Canadian firm, which
was based on mutual agreement .
Stephens says that the network has seen
growth across all regions apart from Africa
and the Middle East partly due to conver-
sion rate which brought the revenues down.
The numbers dont show it, partly
because of Tenon, but we had a fantastic
year in 2013, she says.
We have been consistent from quarter to
quarter and managed to grow our interna-
SERviCE LiNE FEE SPLiT: AdviSORy *
$m %
Deloitte 13,200.0 8%
PwC 9,153.0 5%
KPMG 8,240.0 5%
EY 7,947.0 12%
Grant Thornton International 1,636.0 19%
BDO 1,328.7 7%
Crowe Horwath International 805.9 5%
Baker Tilly Intenrational 858.6 23%
RSM 757.0 13%
Nexia International 612.8 3%
Notes: Includes all fees earned from services that are not audit
& accounting
and tax. Source: International Accounting Bulletin
SERviCE LiNE FEE SPLiT: TAx
$m %
PwC 8,175.0 3%
EY 6,946.0 9%
Deloitte 6,100.0 12%
KPMG 4,970.0 2%
RSM 1,095.8 5%
BDO 1,295.0 15%
Grant Thornton International 925.0 2%
Baker Tilly International 844.7 2%
Crowe Horwath International 743.5 1%
Moore Stephens Intenrational 705.4 -
Source: International Accounting Bulletin
SERviCE LiNE FEE SPLiT: AudiT & ACCOuNTiNG
$m %
PwC 14,760.0 0%
Deloitte 13,100.0 0%
EY 10,936.0 0%
KPMG 10,210.0 1%
BDO 3,829.2 5%
Grant Thornton International 1,958.0 3%
RSM 1,861.2 2%
Baker Tilly International 1,700.9 3%
Nexia International 1,692.4 4%
Crowe Horwath International 1,574.5 0%
Source: International Accounting Bulletin
MARKET ShARE
PWC 19%
Mid-tier
33%
Deloitte 19%
KPMG
EY
13% 14%
Source: IAB
AvERAGE FEE SPLiT TOP 10 NETWORKS iN 2008 ANd 2013 (%)
2008 2013
Audit & accounting 53 48
Tax 23 23
Advisory 24 29
AvERAGE FEE SPLiT BiG FOuR iN 2008 ANd 2013 (%)
2008 2013
Audit & accounting 52 43
Tax 24 23
Advisory 24 34
