- Finance & Banking
10 Largest Accounting Firms In The United States
Accounting firms play a crucial role in guiding organizations through financial management and decision-making processes. While a company may excel in its specific industry, it can still face significant challenges due to tax errors, bookkeeping inaccuracies, or even fraudulent activities.
Errors in accounting are surprisingly common. With the surge of small business initiatives in recent years, many organizations lack the resources or expertise to effectively manage their own finances. This is where accounting firms become indispensable.
Public accounting firms must adhere to established regulations during their operations. These firms follow accounting standards set by the Securities and Exchange Commission (SEC) and the Generally Accepted Accounting Principles (GAAP) established by the Financial Accounting Standards Board (FASB).
Accounting firms offer a diverse array of services and specializations tailored to different sectors. Some may operate within the legal field as forensic and valuation specialists, while others blend technology and finance in the IT sector, and many provide a variety of accounting services across multiple specialties.
As of the latest data from the Bureau of Labor Statistics, the accounting industry employs over 1.4 million people in the United States.
The average annual salary for accountants is approximately $71,550, translating to about $34.40 per hour, with potential for significant growth. However, these figures can vary depending on geographic location.
The Bureau of Labor Statistics highlights the strong correlation between the accounting sector and the broader economy. Accounting and auditing positions are closely linked to the overall economic climate, as economic growth necessitates more professionals capable of preparing and analyzing financial records.
Currently, the accounting industry is undergoing a transformative shift due to advancements in workplace technology, a trend common across many sectors in our ongoing digital revolution. Cloud technology is rapidly replacing traditional spreadsheets and ledgers, facilitating a more seamless and collaborative accounting process, while AI technology is increasingly being adopted for process automation.
Firms utilizing cloud technology report an average of five times more clients than those that do not. Additionally, around 67% of accountants express a preference for cloud technology, citing improvements in business operations.
With the implementation of cloud technology, accountants can dedicate more time to other essential aspects of their roles, such as client communication and team management.
While accountants handle various financial responsibilities, some tasks can be repetitive and time-consuming. Modern accountants are actively seeking solutions to these challenges through AI automation.
Approximately 66% of accountants indicate a willingness to learn and integrate AI technologies to alleviate some of the more tedious data entry and categorization responsibilities. Furthermore, 80% of accounting executives believe that AI technology enhances competitive advantage and boosts productivity.
Despite steady growth in the accounting sector, the industry has faced challenges, particularly during the economic fluctuations experienced in the early 2020s. The overall revenue of accounting services had been on an upward trajectory until recent setbacks.
The industry is also shifting from traditional in-person services to web-based services, a trend that may persist beyond immediate circumstances.
Even amidst these challenges, the U.S. accounting industry is projected to achieve an annual revenue exceeding $110 billion. Certain firms, however, account for a significant portion of this revenue.
In this article, we will explore the ten largest accounting firms in the United States based on revenue. Here’s a quick overview:
The ten largest accounting firms in the United States are:
Below is our comprehensive list of the top ten largest accounting firms.
10 Largest Accounting Firms
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Revenue (bil. USD): 21.91
Deloitte LLP stands as the largest accounting firm in the United States, boasting an impressive revenue of $21.91 billion. Founded in 1845, this multinational professional services network operates from key locations, including New York and London.
With a global workforce of over 330,000 employees, Deloitte offers services in taxation, audit, financial advisory, risk management, consulting, and legal services.
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Revenue (bil. USD): 17.4
PricewaterhouseCoopers (PwC) ranks second with a revenue of $17.4 billion. Founded in 1854 and restructured in 1998, PwC employs around 276,000 individuals across 742 locations in 157 countries.
The firm is led by Chairperson Robert Moritz and specializes in advisory, assurance, consulting, data analytics, actuarial, and legal services.
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New York, NY
Revenue (bil. USD): 15
Ernst Young Global Limited, commonly known as Ernst Young, ranks third with revenue of $15 billion. Headquartered in New York and London, Ernst Young has over 700 offices in 150 countries, employing around 29,000 individuals in the U.S. and 300,000 globally.
The firm is overseen by CEO Carmine Di Sibio and provides assurance, advisory, consulting, digital strategy, and legal services.
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New York, NY
Revenue (bil. USD): 9.97
KPMG, the final member of the “Big Four” accounting firms, generated $9.97 billion in revenue. Founded in 1987, KPMG operates from its New York headquarters, with a workforce of 227,000 across 147 countries.
The firm is led by Chairperson Bill Thomas and provides assurance, actuarial, financial, legal, and consulting services.
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Revenue (bil. USD): 2.44
RSM U.S., although not a member of the “Big Four,” ranks fifth with $2.44 billion in revenue. Headquartered in Chicago, RSM operates across 86 U.S. and Canadian cities, employing over 11,000 individuals.
Founded in 1926, RSM has a global workforce of 43,000 and provides auditing, tax, and consulting services.
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Revenue (bil. USD): 1.95
Grant Thornton ranks sixth with $1.95 billion in revenue. Founded in 1924 and based in Chicago, the firm employs over 8,500 individuals across 59 offices in the U.S.
Led by CEO Brad Preber, Grant Thornton offers a range of professional services, including mergers and acquisitions.
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Revenue (bil. USD): 1.64
BDO USA LLP, coming in seventh, has an annual revenue of $1.64 billion. Founded in 1910, BDO operates in 167 countries, employing 91,000 people in 1,658 offices globally.
The firm is led by CEO Wayne Berson and offers services in accounting, tax, consulting, and other professional services.
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Revenue (bil. USD): 1.15
CliftonLarsonAllen ranks eighth with a revenue of $1.15 billion. Established in 2012 following a merger, this Minneapolis-based firm employs over 6,000 people across 90 offices.
The firm provides services in accounting, audits, taxes, advisory, and consulting, led by CEO Danny Schleper.
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Revenue (bil. USD): 0.96
Crowe ranks ninth with an annual revenue of $960 million. Headquartered in Chicago, Crowe comprises over 220 firms, employing 42,000 individuals in 130 countries.
The firm, led by CEO David Mellor, offers tax, audit, management consulting, and financial advisory services.
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CBIZ Mayer Hoffman McCann PC
Revenue (bil. USD): 0.81
Rounding out our list at number ten is CBIZ Mayer Hoffman McCann with an annual revenue of $810 million. Established through a merger in 1998, this Cleveland-based firm employs over 4,000 people across 133 offices.
Led by President Andy Burczyk, the company operates in various industries, including software, manufacturing, government, and financial institutions.
Notably, New York City remains the accounting capital of the U.S., with the top four firms headquartered there. Known as the “Big Four,” Deloitte, PwC, Ernst Young, and KPMG dominate the industry due to their size and influence.
Chicago also stands out as a significant hub, hosting four firms from our list. The emergence of remote work and digital solutions continues to shape the landscape of accounting, making it essential for firms to adapt and evolve.
How We Ranked the Top 10
In ranking these firms, we defined “largest” by revenue rather than other metrics such as employee count or number of offices. The firms were ranked based on their most recent available revenue data from reputable sources.
This list features large professional service networks rather than individual independent firms, reflecting the industry’s current structure and market presence.
- Finance & Banking
Author
Chris Kolmar is a co-founder of Zippia and the editor-in-chief of the Zippia career advice blog. He has hired over 50 people in his career, been hired five times, and wants to help you land your next job. His research has been featured on the New York Times, Thrillist, VOX, The Atlantic, and a host of local news. More recently, he's been quoted on USA Today, BusinessInsider, and CNBC.
