UK Accountancy Firms Record Increase In Revenues

Thu, 21 Jun 2007

The UK’s top 50 accountancy firms have continued their comeback following the global fall-out of the Enron and WorldCom accounting scandals.

The Accountancy Age’s annual league table showed the top 50 practices accumalated an extra £1 billion-plus on top of the previous year’s revenues to gross £8.7 billion in total.

However £6.35 billion of the total was gathered by the Big Four, with PricewaterhouseCoopers in 1st place (£1.98 billion), followed by Deloitte (£1.79billion), KPMG (£1.45billion) and fourth placed Ernst &Young (£1.13billion).

Next in the list, over £700 million behind, was Grant Thornton (£387.1 million) followed by the last of the Big Six, BDO Stoy Hayward (£330 million).

While many firms are reporting a surge in real estate work and fee income, audit remains the biggest money-spinner, according to Accountancy Age.

Of the top six, Ernst &Young posted the biggest rise in fee income with a huge 20 per cent increase, followed by Deloitte and BDO each with a 15 per cent surge and KPMG (14 per cent higher).

Other figures revealed Deloitte was top of the pile for average fee per partner at £2.9 million, followed by KPMG (£2.6 million) and PWC (£2.5 million), although Ernst &Young’s respective figure was not supplied, according to the magazine .
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