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Visualizing the Revenue of the Big Four Accounting Firms
April 15, 2024
The Big Four accounting firms – Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and KPMG – have solidified their positions as global industry leaders, boasting a combined revenue exceeding $200 billion in 2023.
Together, these firms audit the majority of publicly traded companies worldwide.
This infographic details the revenues of the “Big Four” accounting firms for the fiscal year 2023, based on data from Statista.
Deloitte Leads the Big Four in 2023 Revenues
Offering diverse services, the Big Four specialize in auditing and assurance, ensuring financial transparency, and regulatory compliance for their clients. Additionally, they provide strategic consulting services. All four are legally headquartered in the UK and command a dominant global market share.
| Company | Auditing & Assurance | Consulting | Tax | Other | Total ($ billions) |
|---|---|---|---|---|---|
| Deloitte | $20.1 | $29.6 | $10.3 | $5.1 | $65.1 |
| PwC | $18.7 | $22.6 | $11.8 | $53.1 | |
| EY | $15.1 | $16.1 | $12.1 | $6.1 | $49.4 |
| KPMG | $12.6 | $15.9 | $7.9 | $36.4 |
Visualizing the Revenue of the Big Four Accounting Firms
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The Big Four accounting firms – Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and KPMG – have solidified their positions as global industry leaders, boasting a combined revenue exceeding $200 billion in 2023.
Together, these firms audit the majority of publicly traded companies worldwide.
This infographic details the revenues of the “Big Four” accounting firms for the fiscal year 2023, based on data from Statista.
Deloitte Leads the Big Four in 2023 Revenues
Offering diverse services, the Big Four specialize in auditing and assurance, ensuring financial transparency, and regulatory compliance for their clients. Additionally, they provide strategic consulting services. All four are legally headquartered in the UK and command a dominant global market share.
| Company | Auditing & Assurance | Consulting | Tax | Other | Total ($ billions) |
|---|---|---|---|---|---|
| Deloitte | $20.1 | $29.6 | $10.3 | $5.1 | $65.1 |
| PwC | $18.7 | $22.6 | $11.8 | $53.1 | |
| EY | $15.1 | $16.1 | $12.1 | $6.1 | $49.4 |
| KPMG | $12.6 | $15.9 | $7.9 | $36.4 |
Interestingly, the largest accounting firms were formerly known as the “Big Eight,” but mergers and closures starting in the late 1980s have reduced their number to four.
The original group consisted of Arthur Andersen, Arthur Young, Coopers & Lybrand, Deloitte Haskin & Sells, Ernst & Whinney, Peat Marwick Mitchell, Price Waterhouse, and Touche Ross, all headquartered in the U.S. or UK.
Arthur Young merged with Ernst & Whinney, and Deloitte Haskin & Sells combined with Touche Ross. Subsequently, Price Waterhouse and Coopers & Lybrand merged their practices, reducing the count to five. However, following the collapse of Arthur Andersen due to its involvement in the Enron scandal, the “Big Five” became the present-day four.
The Scale of the Big Four
Deloitte is the largest in terms of headcount, with over 456,000 employees as of FY2023, followed by Ernst & Young with more than 395,000 workers, and PwC with 364,000. Despite being the smallest among the four, KPMG still has 298,356 employees.
Source: GWFM Resource & Study
