Iab's 2021 World Survey Reflects on Accounting's

Issue 618 www.internationalaccountingbulletin.com world survey 2021

A NNEWEW CCOMMUNITYOMMUNITY

IIAB’SAB’S 20212021 WORLDWORLD SURVEYSURVEY RREFLECTSEFLECTS ONON AACCOUNTING’SCCOUNTING’S TRANSITIONTRANSITION TOTO VIRTUALVIRTUAL

NEWS PEOPLE OUTLOOK

CCOVEROVER SSTORYTORY NEWS 0088 04 / EDITOR’S LETTER 05 / DIGEST • HMRC big business investigations drag on for four years • A4S launches framework to incorporate climate change into business valuations 0055

WWORLDORLD SURVEYSURVEY 22021021

Editor:Group Jonathan Editor: Minter Group Editorial Director: EditorialDirector Executive: of Events: Joe Xxxxxxxx +44 (0)20Zoya 7406Malik 6705 Ana Gyorkos +44 Ray(0)20 Giddings 7406 XXXX [email protected]+44 (0)20 7832 4315 +44 (0)20 78327406 43966707 [email protected]+44 (0)20 7936 6512 [email protected] [email protected] [email protected] Reporter: Saad Ahmed Director of Events: Ray Giddings Data researcher: Production editor: Head of Subscriptions: +44 (0)20 7406 6538 Sub-editor: Nick Midgley +44 (0)20 3096 2585 Sarajuddin Isar Nick Midgley Sharon Howley [email protected] +44 (0)161 359 5829 [email protected] +44 (0)20 7832 4363 +44 (0)161 359 5829 +44 (0)20 7936 6587 [email protected] sarajuddin.isar@ [email protected] [email protected] progressivemediagroup.comNews Desk: Head of Subscriptions: +44 (0)20 7406 6538 Sub-editor:Sub-editor: Sophia Bell Alex Aubrey Andrea Minter +44 (0)20 3096 2603 [email protected]

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2 | February 2021 | International Accounting Bulletin contents february 2021

PEOPLE 3388 06 / TALKING HEADS In a Talking Heads interview, Zoya Malik spoke to BKR International’s worldwide CEO, Tim Morris, and incoming worldwide chair Graeme Boake about his selection, and to hear about their plans for the future INDUSTRY FOCUS 38 / DIGITISATION All global trade was once entirely dependent on weather conditions, and passages were extremely liable to be disrupted by storms. Some things have changed since then. Jon Lisby and Jeremy Hyman comment 2021 WORLD SURVEY 08 / INTRODUCTION 14 / OUTLOOK 30 / NORTH AMERICA Globally, 2020 was the toughest of years After a tumultuous year, the roll-out of Fee and staff rankings in North America for on all fronts – and not just for people’s various Covid-19 vaccinations may enable the networks and associations livelihoods and the economy. Zoya Malik and industry to plan a more certain road ahead. the IAB team analyse the 2020 performance Zoya Malik spoke to global CEOs to get a 34 / LATIN AMERICA of global networks and associations feel for new initiatives they have set for 2021 Fee and staff rankings in Latin America for 10 / WORLD NETWORK FEE 15 / AUDIT AND ASSURANCE networks and associations AND STAFF RANKINGS Rankings by fee income from audit and 40 / MIDDLE EAST assurance for networks and associations Fee and staff rankings in the Middle East for 12 / WORLD ASSOCIATION 17 / ACCOUNTING networks and associations FEE AND STAFF RANKINGS Rankings by fee income from accounting 44 / AFRICA services for networks and associations Fee and staff rankings in Africa for networks and associations 1144 19 / TAX 48 / ASIA-PACIFIC Rankings by fee income from tax services for networks and associations Fee and staff rankings in Asia-Pacific for networks and associations 21 / ADVISORY 52 / FIRM MOVEMENTS Rankings by fee income from advisory A list of firms lost and gained by global services for networks and associations accounting networks and associations in 2020 25 / THE BIG FOUR REGIONAL VIEW 5522 Fee income and staff rankings for the Big 4, including regional breakdowns 26 / EUROPE Fee and staff rankings in Europe for networks and associations

www.internationalaccountingbulletin.com | 3 editor’s letter

Editor’s letter Accounting industry pivots around pandemic and digital revolution ,o--ѴbhķGroup Editor

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Get in touch with the group editor at: [email protected]

4 | February 2021 | International Accounting Bulletin News | digest news update

!0b]0vbm;vvbm;vঞ]-ঞomv7u-]om=ou=ou;-uv HMRC’s enquiries into big businesses’ tax There is a concern that officers handling they have assessed the tax owed. With many affairs have now been open for an average these large and complex cases are significantly of these simpler cases now cleared, HMRC is of 45 months, up from 43 months last slowed down by having to consult with a being left with a “long tail” of cases where it is year, as the tax authority struggles to clear a diverse range of HMRC departments with more difficult to build a winnable case. backlog of complex tax disputes, according to differing responsibilities, making any decision Porter commented: “The backlog of old multinational law firm Pinsent Masons. to settle, litigate or close an investigation into tax investigations is not helpful to businesses Steven Porter, partner at Pinsent Masons, a committee decision. This causes serious or HMRC, but its slow decision-making said the increasing delays are largely caused delays, even for the most straightforward means it can do very little to clear it. That is by HMRC taking longer than ever to make a enquiries, and can leave investigations open burdening businesses with the cost of these decision to settle or close an investigation. He for several years. disputes for years on end.” added that these long-running investigations According to Pinsent Masons, HMRC “Officers at HMRC often seem reluctant are a significant time and cost burden to UK closed 1,986 investigations into big businesses to make a decision to litigate, settle or close businesses, with some having to set aside last year, down by 21% from the 2,528 cases a case, and that results in those cases running significant amounts of money for a period of closed in 2018-19. The cases closed in the on for nearly four years on average. There are years in case they lose a dispute with HMRC. past year had been open for an average of just plenty that last even longer than that.” The firm explained that HMRC is battling 17 months. “It is understandable that HMRC does not to clear a large number of historic tax The firm said the vast majority of these want to miss out on any of the tax it believes investigations into large businesses but may be cases are “low-hanging fruit”, in which either it is owed, but the cost to businesses of a tax being hampered by its own inability to close HMRC or the business concerned quickly investigation lasting four of five years can be these investigations quickly. accept that they have made an error in how very substantial.” A4S launches framework to incorporatE climate change into business valuations

ľ-Ѵ1Ѵ-ঞm]|_;-Ѵ;o=0vbm;vv;v and assets is one of the most important factors determining where investors put their money. By embedding these 1omvb7;u-ঞomvbm|o|_;-Ѵ-ঞomruo1;vv – using guidance developed by industry ruo=;vvbom-Ѵv-m7|_;-Ѵ-ঞom1ollmb| ŋ|_;u;bvro|;mঞ-Ѵ|ol-h;|_;bm|;]u-ঞom 11omঞm]=ou"v|-bm-0bѴb|ŐƓ"ő_-v -m7bm7v|u;r;u|vĺom|ub0ঞm] of climate risk become the norm rapidly. launched a new framework that helps members to this guide include the Ontario We hope that the launch of this guide will business valuators price climate change Teachers’ Pension Plan, the New Zealand vru-1ঞom=uolCm-m1;-m7bm;v|l;m| ubvhv-m7orrou|mbঞ;v=ouou]-mbv-ঞomvĺ "r;u-mm-ঞom m7ķ|_;m|-ubo teams globally and help accelerate the The A4S vv;mࢼ-Ѳ]b7;|o(-Ѳ-ࢼomv mb1br-Ѵ lrѴo;;v!;ঞu;l;m|"v|;lķ |u-mvbঞom|o-m;|;uoķvv|-bm-0Ѵ; -m7Ѳbl-|;_-m];ruob7;v-C;Ŋv|;r uoohC;Ѵ7vv;|-m-];l;m|ķ-bvv; economy.” framework that enables investment and de dépôt et placement du Québec, the CPA Canada CEO and president Charles- -Ѵ-ঞom1ollmbঞ;v|o-rrѴ1Ѵbl-|; _-u|;u;7vbm;vv(-Ѵ-|ouvmvঞ||;ķ-m7 m|obm;"|Ŋ;-m-77;7Ĺľ&mঞѴmoķ|_; 1_-m];ubvhv-m7orrou|mbঞ;v1omvbv|;m|Ѵ CPA Canada general approach to considering climate |o|_;bu-Ѵ-ঞomv-m77;1bvboml-hbm]ĺ Ɠ";;1ঞ;1_-bu;vvb1- ub;vv-b7Ĺ 1_-m];bm-Ѵ-ঞomv_-v0;;mt-Ѵb|-ঞ; $_;-blo=|_;]b7;bv=ou|_;bm|;]u-ঞom “We are delighted to launch the A4S in nature. The vv;mࢼ-Ѳb7;|o(-Ѳ-ࢼomv o=1Ѵbl-|;1_-m];bm|o-Ѵ-ঞomv|o vv;mࢼ-Ѳb7;|o(-Ѳ-ࢼomv-m7Ѳbl-|; -m7Ѳbl-|;_-m];Ķon the other hand, 0;1ol;-11;r|;7ru-1ঞ1;ĺ _-m];Ķ_b1_ru;v;m|v-m;1bঞm]v|;r ;m-0Ѵ;v-Ѵ-|ouv|ot-mঞ=|_;blr-1| The guide was developed as part of |o-u7v|_;vv|;l-ঞ1bm|;]u-ঞomo= o=1Ѵbl-|;1_-m];om0vbm;vv-Ѵ-ঞomvķ A4S, in partnership with CPA Canada, climate change into the heart of business providing a more robust, accurate and Cm-m1;|;-lv=uolb|v ;-7;uv_br -Ѵ-ঞomvĺ|Ɠ"ķou]o-Ѵbv|ol-h; _oѴbvঞ1bm7b1-ঞomo=|_;|u;blr-1|o= ;|ouhķ]Ѵo0-Ѵbmvঞ|ঞom-Ѵbm;v|ouv sustainable business, business as usual. 1Ѵbl-|;1_-m];ubvhv-m7orrou|mbঞ;vĺĿ

www.internationalaccountingbulletin.com | 5 people | talking heads

rates and in different ways. We are also bkr international: extremely keen to meet in person as soon as the situation allows us to do safely.

ZM: What is your experience in crisis engagement with a l-m-];l;m|-m7u;r|-ࢼom-ѲubvhĴ GB: BKR International member firms are not only selected for their local influence, expertise and international capability, but personal approach they must also demonstrate that they have met the standards of their local jurisdiction, as well as undergo a thorough review by BKR’s In a Talking Heads interview, Zoya Malik spoke to BKR regional and worldwide boards. International’s worldwide CEO, Tim Morris, and incoming Many of Boake Inc.’s clients and several BKR members are experiencing challenging worldwide chair Graeme Boake about their plans for the future times during the pandemic, and through hard work and ongoing communications with u-;l;Ķ_-|l-h;v! clients and members we are finding ways toث, Zoya Malik: Tim, how did BKR bm|;um-ࢼom-Ѳ1ol;|o;Ѳ;1|u-;l; m|;um-ࢼom-ѲĻvlbvvbomro;u=ѲĴ support each other during these times. Boake as worldwide chair? Graeme Boake: Our mission is: ‘To assist our Reputational risk can be managed by truly Tim Morris: Graeme has been an active independent members to grow and strengthen instilling our mission and vision with our member of the BKR worldwide (WW) and their practices by providing resources on an members, and ensuring that all new members EMEA regional boards for around six international scale to service them, buy into and will adhere to our mission years. He was elected to the role of their clients and potential clients, and vision. I will ensure that all members vice-chair of the WW board for including forums to learn, tools adhere to the standards of membership and a two-year term at our AGM in and services to assist in their governance, and I will also prioritise risk Shanghai in 2018. He took over practices, promotion of their mitigation during my tenure. as chair in October 2020. firm and other opportunities to improve their business.’ ZM: How will you advise BKR to face ZM: How do you expect Tim Morris, Our commitment is to assist challenges arising from Covid 19? !m|;um-ঞom-Ѵ him to support you and the membersm to improve their GB: As one of the top 10 global ;;1ࢼ;oL1;Ĵ business, and this is vital for all accounting associations, BKR TM: Graeme provides clear direction and is our members. All our members International represents the always available to discuss matters. are independent firms with their combined strength of more than own needs and requirements 160 independent accounting and ZM: What strengths does he bring to in their own markets, and our business advisory firms in over the board? regional structures really help 500 offices and 80 countries. Graeme Boake, TM: A deep knowledge of the profession members to develop their business. !m|;um-ঞom-Ѵ The strength of BKR is our and of BKR. As his firm is a long-standing members and the experiences that we member of BKR, he knows what the ZM: What strengths are you bringing collectively share. Members have been able to association needs to do for its members. |oC|bmb|_|_;1uu;m|0o-u7Ĵ meet often in the past on a face-to-face basis, GB: Having been a member of BKR for 24 and more recently have been connecting on ZM: How closely will you work with years, I have a good understanding of the virtual platforms, and have been making the the board to face the challenges association personally, and I have built many most of the service lines that are successful posed by Covid-19? What guidance personal relationships with our members and to help members gain momentum and will you look for? board members from across the globe. ultimately return to profitability or maintain TM: The CEO has always worked closely Boake Inc., where I am currently CEO in profitability. with the WW board regardless of Covid. Johannesburg, has also actively participated Our three regions, together with support Given the direction of the WW board for in BKR regional and worldwide conferences from BKR worldwide, are getting in touch regions to continue providing remote support over these years. As BKR is owned and run by with our members on a regular basis to assist to the members, they have confirmed the our members, I am ideally placed to take the them with topical matters and providing CEO’s role in co-ordinating the regional association forward. forums to be in touch with each other. executive directors in devising their We hope that our members will be able to programmes and sharing best practice. ZM: What is your immediate business meet in person as soon as the situation allows Given BKR’s family nature, it is a great focus in 2021? us to do so safely. Until then, we will uphold pleasure to work for Graeme who has been a GB: Helping members get over the effects of our regular engagements where we will great support in my previous role as EMEA Covid-19. We must not lose sight of the fact continue to leverage our combined strengths executive director. I look forward to working that this is a global pandemic, and different as well as ensure that BKR imparts the with him to take the association forward. jurisdictions will move forward at different requisite skills and services to members.

6 | February 2021 | International Accounting Bulletin

world survey | introduction

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22020020 willwill bebe knownknown asas thethe yearyear ofof thethe pandemic.pandemic. Globally,Globally, itit waswas thethe toughesttoughest ofof yearsyears oonn aallll frontsfronts – andand notnot justjust forfor people’speople’s livelihoodslivelihoods andand thethe economy:economy: thethe pandemicpandemic hhasas – andand sstilltill isis – touchingtouching ppeopleeople oonn a ppersonalersonal llevelevel aass eeachach ddayay ggoesoes bby.y. ZZoyaoya MMalikalik aandnd tthehe IIABAB tteameam analyseanalyse thethe 20202020 pperformanceerformance ooff ggloballobal nnetworksetworks aandnd aassociationsssociations

n February 2020, at the World Survey been making adjustments in trying to balance Now with the roll-out of a number of launch, we reported that the break-out routine with productivity, home life with vaccines and programmes underway around Iof Covid-19 in Wuhan, China posed a work life and social life – or the lack thereof. the world, there is a prevailing sense that threat to business life based on signs that Some have fared better and some far worse in some semblance of what we collectively had started to affect Chinese manufacturing a very short space of time. Most tragic of all is regarded as ‘normal life’ may be recaptured. centres, with a knock-on effect on logistics that human life was – and still is – at stake. Having said that, the forced slower pace and delivery. Having said that, humans are tough, of working, networking and lead generating We could not have accounted for what resilient and able to learn from shared online, coupled with the need to accelerate would unravel soon after, hitting us all in a experiences. And it is easier to get through and digitise, has allowed time for inward domino effect. We moved all our working tough times when one realises ‘we are all in it reflection, both in a personal and business and schooling activities online, and have together’. sense. This time has allowed greater levels of

8 | February 2021 | International Accounting Bulletin world survey | introduction

productivity and efficiencies through cost world overview cutting. While we all wait for the outlook to change, much is underway in terms of risk $o|-Ѵu;;m;v]uo|_ĹƑƏƏƒŊƑƏƑƏ management and business forecasting. All Ő-;u-];]uo|_o=m;|ouhv-m7-vvo1b-ঞomvvu;;7ő these positives have been reported by leaders $bn Revenue % in the accounting industry. 250 Growth (right axis) 20

This year’s IAB World Survey includes fee 200 income from 52 global organisations, 30 15 networks and 22 associations. Among the 30 150 networks, only five reported decreases in fee 10 100 income, and overall growth for networks was 5 3%, with total revenue reaching $210bn. 50 For associations it has been a more challenging year, as the 22 participating 0 0 associations reported a combined 2% 2003 2006 2010 2014 2019 2020 growth, with revenue totalling $30.8bn. In comparison, last year associations grew 14%. For the Big Four, 2020 was far from ";ub1;Ѵbm;]uo|_ķƑƏƑƏ straightforward; however, despite the % challenges, three of the four giants reported 10 Networks vvo1b-ঞomv growth. The Big 4 jointly saw a $2.2bn increase to reach $157bn in combined fee 8 income. 6 Deloitte remains market leader as its fee 10% 8% income edges ahead of second-placed PwC, 4 with fee income of $47.6bn for the year 5% 2 4% ended 30 June 2020, up by 3%. 1% 1% 3% In the mid-tier, BDO was the leader of the 0% 0 pack for networks, with growth of 7% to just Audit 11omঞm] Tax Advisory over $10.2bn, followed by RSM with 9% growth and fee income of just under $6.3bn. BY SERVICE LINE AND REGION !;]bom-Ѵ=;;]uo|_ķƑƏƑƏ % 12 Networks vvo1b-ঞomv Across audit, performance was sluggish with 10 networks seeing a small 1% increase in fee 8 6 12% 12% 10% income to $71bn, while for associations 4 6% 7% fee incomes in audit overall were flat, with 2 6% 0% 0% 2% combined fee income just under $9.3bn. 0 -2 -1% -6% It was a better year for tax as networks grew -4 the service line by 3% and associations by -6 -10% 10%. Similarly, fee income increased by 4% -8 -10 for networks in advisory to $76.6bn, and 8% Europe North America -ঞml;ub1- Middle East Africa vb-Ŋ-1bC1 for associations to $5.4bn. Positive growth in fee income was seen across most regions for both networks and associations, with the exception of Latin !;]bom-Ѵv|-@]uo|_ķƑƏƑƏ America, where networks and associations % 12 Networks vvo1b-ঞomv reported 6% and 1% decreases in fee income 10 respectively. Associations also reported a 8 12% drop of 10% in the Middle East; however. 6 11% 10% 10% 7% networks reported a stronger performance 4 9% 6% with a 12% increase in fee income. 2 4% 4% 0% 0% 2% In terms of staffing, growth was seen 0 -3% in most regions, despite the impact of the -2 -10% -6% pandemic. The only exception was in Latin -4 America, with 3% and 6% falls in staff -6 Europe North America -ঞml;ub1- Middle East Africa vb-Ŋ-1bC1 numbers for both networks and associations respectively. Source:m|;um-ࢼom-Ѳ11omࢼm]ѲѲ;ࢼm

www.internationalaccountingbulletin.com | 9 world survey | world rankings world Networks: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ ;Ѵob;ŖŐƐő ƓƕķѵƏƏĺƏ ƒѷ ƑƐ Ŋ ƐѶ ѵƐ Ŋ mŊƑƏ Ƒ Ŗ ƓƒķƏƒƑĺƏ Ɛѷ ƓƐ Ŋ ƑƔ ƒƓ Ŋ mŊƑƏ ƒ +Ŗ ƒƕķƑƏƏĺƏ Ɠѷ ƒƓ Ŋ Ƒѵ ƑѶ ƐƐ ;1ŊƑƏ Ɠ Ŗ ƑƖķƑƑƏĺƏ ŊƑѷ ƒѶ Ŋ ƑƑ ƓƏ Ŋ mŊƑƏ Ɣ ŐƑő ƐƏķƑѵƒĺѶ ƕѷ ƓƑ ƐƔ ƑƑ ƑƐ Ŋ ";rŊƑƏ ѵ !"Őƒő ѵķƑѵѶĺƔ Ɩѷ ƒƖ ѵ ƒƐ Ƒƒ Ƒ ;1ŊƑƏ ƕ u-m|$_oum|omŖ ƔķƕƔƕĺƐ Ɛѷ ƓƏ Ŋ ƑƑ ƒѵ Ƒ ";rŊƑƏ Ѷ ;b-m|;um-ঞom-ѴŖ ƓķƓƖƏĺѵ Ɣѷ ƒƓ Ɛѵ ƑѶ ƐƏ ƐƑ mŊƑƏ Ɩ uo;ŐƓő ƓķƐƕƐĺѶ ŊƔѷ ƓƏ Ŋ ƒƏ Ƒƒ ƕ ;1ŊƑƏ ƐƏ -h;u$bѴѴm|;um-ঞom-ѴŐƔő ƓķƏƓƒĺѶ Ɣѷ ƒƔ ƐƔ ƑƔ ƐѶ Ѷ ;1ŊƑƏ ƐƐ Őѵő ƒķƑƕƕĺƑ ƐƑѷ ƒƐ ƐƔ ƑƔ Ƒѵ ƒ ;1ŊƑƏ ƐƑ oou;Ѵo0-ѴŐƕő ƒķƐƒƕĺƓ ƒѷ ƒƔ ƐƓ ƒƏ ƐƐ ƐƏ ;1ŊƑƏ Ɛƒ u;v|omm|;um-ঞom-ѴŐѶő ƑķƓƏѶĺƔ Ɠѷ ƒѵ Ɩ ƑƓ ƐƔ Ɛѵ 1|ŊƑƏ ƐƓ --uvŖŐƖő ƑķƑѵƑĺƕ ƐƓѷ Ɠƕ Ɛƕ Ɛƕ Ɛƕ Ƒ ]ŊƑƏ ƐƔ $Ѵo0-ѴŐƐƏő ƐķѶƐƖĺѶ ƓѶѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ɛѵ m|;um-ঞom-ѴŐƐƐő ƐķƓƕƒĺƑ Ɛѷ ƓƔ ƐƔ ƑƑ Ɩ Ɩ mŊƑƏ Ɛƕ " Ŗ ƕƑѶĺƏ ƐƑѷ ƑƔ Ƒƒ ƐƔ ƒƑ Ɣ 1|ŊƑƏ ƐѶ &+m|;um-ঞom-ѴŖ ѵƏƏĺƐ ƒѷ ƒƕ ƑƏ ƐƖ Ɛƕ ƕ -uŊƑƏ ƐƖ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƔƖƒĺѵ Ɛƒѷ Ƒѵ ƑƖ ƑƑ ƐƓ Ɩ ;1ŊƑƏ ƑƏ "_bm;)bm]m|;um-ঞom-ѴŖ ƔƒƒĺƏ Ɩѷ ѵѵ ƕ Ѷ ƕ ƐƑ ;1ŊƑƏ ƑƐ ("m|;um-ঞom-ѴŐƐƑő ƓƕƖĺƐ ƐƓѷ ƐѶ Ƒѵ Ƒѵ ƐѶ ƐƑ ;1ŊƑƏ ƑƑ $"ŖŐƐƒő ƑƔƔĺƐ ƑƓѷ ƐѶ Ɠƕ ƑƐ Ѷ ѵ ";rŊƑƏ Ƒƒ !;-m7-m|;um-ঞom-ѴŐƐƓő ƑƒƓĺƒ Ɛѷ ƒѵ Ѷ ƐƐ ƐƏ ƒƔ ;1ŊƑƏ ƑƓ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ Ɛƕѵĺѵ ŊƐƑѷ ƑƓ ƓƐ Ɛƕ Ɛƒ Ɣ ;1ŊƑƏ ƑƔ m;|ŖŐƖő ƐƓƖĺѶ ƑƓѷ Ƒƒ ƑƖ Ɛƕ ƐƓ Ɛƕ mŊƑƏ Ƒѵ u;mŖ ƐƒƔĺƔ ŊƑѷ ƑƑ Ƒƕ Ƒƕ ƐƖ Ɣ ;1ŊƑƏ Ƒƕ &ş"l;ub1-ŐƐƔő ƐƐƔĺƔ ŊƓƖѷ ƐƔ Ŋ ѵƖ Ɛѵ Ŋ ;1ŊƑƏ ƑѶ ""-ঞmo-l;ub1-Ŗ ƕƐĺƏ ŊƖѷ ƒƒ Ɛѵ ƒƏ ƐѶ Ɣ ;1ŊƑƏ ƑƖ 7ovm|;um-ঞom-ѴŐƖőŐƐѵő ƓƐĺƏ ƔƔѷ ƒƏ ƒƏ ƐƑ ƐƑ Ɛѵ ;1ŊƑƏ ƒƏ bm r;uঞ-Ŗ ƒƒĺƖ Ɩѷ Ɠƒ ƐƑ Ɛѵ Ɛƒ Ɛѵ mŊƑƏ

Total revenue/growth 210,572.8 3%

10 | February 2021 | International Accounting Bulletin world survey | world rankings world networks: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ ;Ѵob;Ŗ ƒƒƓķѶƏƏ ƒƐƑķƏƑѶ ƕѷ ƐƓķƑѵѵ ƐƒķƓƐƐ ƑѵƔķƔƏƒ ƑƔƐķƔѶƓ ƔƔķƏƒƐ ƓƕķƏƒƒ mĺ7 mĺ7 Ƒ +ŖŐƐő ƑƖѶķƖѵƔ ƑѶƓķƏƐѶ Ɣѷ ƐƑķƓƖѵ ƐƑķƒƏƖ ƑƓƏķѵƖѵ ƑƑѵķƓƑѵ ƓƔķƕƕƒ ƓƔķƑѶƒ ƕƏƏ ƕƏƏ ƒ Ŗ ƑѶƓķƑƔѶ ƑƕѵķƏƏƔ ƒѷ ƐƐķƒƔѵ ƐƐķƓѵƓ ƑƑѶķѶƓƓ ƑƑƑķƑƕƔ ƓƓķƏƔѶ ƓƑķƑѵѵ mĺ7 mĺ7 Ɠ Ŗ ƑƑѵķѶѶƑ ƑƐƖķƑѶƐ ƒѷ mĺ7 ƐƏķƖƏѶ mĺ7 ƐƕƑķƒѵƑ mĺ7 ƒѵķƏƐƐ mĺ7 mĺ7 Ɣ ƖƐķƏƔƓ ѶѶķƐƑƏ ƒѷ ѵķƖƑƖ ѵķƕƒѶ ƕƐķƏƓѵ ѵѶķƔƒƖ ƐƒķƏƕƖ ƐƑķѶƓƒ ƐķѵƔѶ ƐķѵƐƕ ѵ u-m|$_oum|omŖŐƑő ƔѶķƑƑƖ ƔѵķƏƑѶ Ɠѷ ƒķƕƏѶ ƒķѵƏѶ ƓѵķѶƔƐ ƓƓķƏѵƓ ƕķƓƓѶ ѶķƒƔѵ ƕƕƖ ƕƔѵ ƕ !"Őƒő ƓƕķƖƏƐ ƓƒķƏƔƔ ƐƐѷ ƓķƏƕƕ ƒķѶƓƔ ƒѵķѵƐƔ ƒƑķѵƕƓ ƕķƑƏƖ ѵķƔƒѵ ѶƑƒ ѶƐƐ Ѷ Crowe ƒѶķƐƔƓ ƓƐķƏƖƕ Ŋƕѷ ƒķƕѶѶ ƒķѵƓƒ ƑƖķƑѵƑ ƒƐķƖƕƒ ƔķƐƏƓ ƔķƓѶƐ ƕƖƓ ƕѵƔ Ɩ -h;u$bѴѴm|;um-ঞom-Ѵ ƒѵķƕƒƏ ƒѵķƒƒƑ Ɛѷ ƒķƏѵѶ ƒķƏƐѶ ƑѶķƐƖƏ ƑѶķƐƒƔ ƔķƓƕƑ ƔķƐƕƖ ƕƒѶ ƕƓƑ ƐƏ ;b-m|;um-ঞom-ѴŖ ƒƓķѵƖѶ ƒƔķƓƔѶ ŊƑѷ ƒķƓƓƖ ƒķƓƓƑ ƑƓķƖѵѵ ƑƔķѵƐƒ ѵķƑѶƒ ѵķƓƏƒ ƕƔƑ ƕƑƕ ƐƐ Őƒő ƒƑķѶƒƖ ƑƖķƒѵƒ ƐƑѷ ƑķѶƒƐ ƑķѵƒƔ ƑƔķѵƑƕ ƑƑķƒƔѶ ƓķƒѶƐ ƓķƒƕƏ ƖѵѶ ƕƖƔ ƐƑ oou;Ѵo0-Ѵ ƑƖķѶƖƏ ƒƏķѶƏƖ Ŋƒѷ ƑķѵƕƑ ƑķѵƑѶ ƑƒķƔƓƔ ƑƓķƒƒƒ ƒķѵƕƒ ƒķѶƓѶ ƔƓƕ ƔƕƖ Ɛƒ --uvŖ ƑѵķѵƏƓ ƑƓķƒƒƑ Ɩѷ ƐķƏƕƏ ƐķƏƐƔ ƑƑķƒƒƐ ƑƏķƒƔѶ ƒķƑƏƒ ƑķƖƔƖ ƒƏѵ ƒƐѶ ƐƓ u;v|omm|;um-ঞom-Ѵ ƑƑķƒƔƓ ƑƒķƑƕƐ ŊƓѷ ƐķƖƑƒ ƐķƖѵƑ ƐƕķѵƖƑ ƐѶķƓƐƖ ƑķƕƒƖ ƑķѶƖƏ ѵѵƐ ƕƏƔ ƐƔ m|;um-ঞom-Ѵ ƑƏķƔѵƒ ƐƖķѵƏƖ Ɣѷ ƐķƖƏƖ ƐķƕѵƑ ƐƔķѶƖƏ ƐƔķƐƕѶ ƑķƕѵƓ ƑķѵѵƖ ƓƖƑ ƓѵƑ Ɛѵ $Ѵo0-Ѵ ƐƕķƒƕƏ ƖķƖƖƏ ƕƓѷ ƐķѵƏƏ ƐķƐƕƏ ƐƒķƓƕƏ ƕķƑƏƏ ƑķƒƏƏ ƐķѵƑƏ ƐķƑѶƏ ƐķƏѵƔ Ɛƕ " Ŗ ƐƑķƏѵƏ ƐƑķƐƏƏ Əѷ ѶƕƖ ƕƔƏ ƖķƑѵƒ ѶķƏƕƓ ƐķƖƐѶ ƒķƑƕѵ ƑƕѶ ƑƔƏ ƐѶ "_bm;)bm]m|;um-ঞom-ѴŖ ƖķѶѵƑ ƖķѶƐѵ Əѷ ƓѶѶ ƓѶƐ ѶķƔѶƒ ѶķƔƑƖ ƕƖƐ ѶƏѵ ѶƑ ѶƏ ƐƖ &+m|;um-ঞom-ѴŖ ѶķƔƕѶ ѶķƔƏƏ Ɛѷ ѶѶƑ ѶѵƓ ѵķƓƏƖ ѵķƑѵƖ ƐķƑѶƕ Ɛķƒѵƕ ƒƑƖ ƒƒƏ !vv;ѴѴ;7=ou7 ƑƏ ƕķƕƏƕ ƕķƏƓѵ Ɩѷ ѶƔƓ ƕƔƖ ƔķƔƓƖ ƔķƑƏƏ ƐķƒƏƓ ƐķƏѶƕ ƒѵƒ ƒƔƑ m|;um-ঞom-ѴŖ ƑƐ ("m|;um-ঞom-ѴŖŐƓő ѵķƔѶƒ ѶķƓƐƖ ŊƑƑѷ ƕƏƓ ƐķƏƓƒ ƓķƖƓѶ ѵķƏƑѵ ƖƒƐ ƐķƒƔƏ ƑѶƓ ƒƏƖ ƑƑ !;-m7-m|;um-ঞom-Ѵ ƓķƔƒƐ ƓķƔƐѶ Əѷ ƑƓƑ ƑƔƏ ƒķѵƒƓ ƒķƔƒƒ ѵƔƔ ƕƒƔ ƐƔƐ ƐƓƕ Ƒƒ $"Ŗ ƓķƒƔƏ ƒķѵƕƏ ƐƖѷ ƒѵƖ ƒƐƑ ƒķƓƒƓ ƑķѶƖƔ ƔƓƕ Ɠѵƒ ƑƔѶ ƑƒƑ ƑƓ u;mŖ ƑķƐƔƒ ƑķƐѵƑ Əѷ ƑѶƏ ƑѶƑ ƐķѵѶƓ ƐķѵƖƔ ƐѶƖ ƐѶƔ ƔƖ ƔѶ ƑƔ m;|Ŗ ƑķƐƒƑ ƐķƖƐƔ ƐƐѷ ƒƒƓ ƒƏѶ ƐķƒƐƕ ƐķƐƑѶ ƓѶƐ ƓƕѶ ƐƔƒ ƐƒƔ Ƒѵ ""-ঞmo-l;ub1-Ŗ ƑķƏƐƓ ƑķƑƐƓ ŊƖѷ ƐѶƒ ƑƏƐ ƐķѵƓƏ ƐķѶƏƒ ƐƖƐ ƑƐƏ Ɣƒ Ɣѵ Parker Russell Ƒƕ ƐķƖƑѶ ƑķƏƔƐ Ŋѵѷ Ƒѵƒ ƑƖƑ ƐķƔƓƏ ƐķƔƕѵ ƐƑƔ ƐѶƒ ƐƔƓ ƐƔѶ m|;um-ঞom-ѴŖ ƑѶ &ş"l;ub1- ƐķƖƑƕ ƑķƑѶѵ ŊƐѵѷ ƑƓƓ ƑƔƔ ƐķƓƏѵ Ɛķƕƒѵ Ƒƕƕ ƑƖƔ Ɛƕƒ ƐƕƏ ƑƖ bm r;uঞ-Ŗ ƐķƒƓƑ ƐķƒƒƐ Ɛѷ ƐƐƒ ƐƏƔ ƐķƏƒƐ ƖƖƖ ƐƖѶ ƑƑƕ ƓѶ Ɠƒ ƒƏ 7ovm|;um-ঞom-Ѵ ƐķƐƑƔ ƐķƏƏƐ ƐƑѷ ƐƒƔ ƐƏƒ ѶѶƔ ƕѶƖ ƐƏƔ ƐƏƖ Ɣƕ ƒѵ

$o|-Ѵv|-@ņ]uo|_ 1,667,583 1,595,825 4% 81,112 89,563 1,141,851 1,261,743 217,516 244,518 12,940 12,398

www.internationalaccountingbulletin.com | 11 world survey | world rankings

world associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ u-b|Ŗ ѵķƖƔѵĺƏ Ɩѷ ƒѶ Ɛѵ Ƒѵ Ɛƕ Ɠ ;1ŊƑƏ Ƒ ѴѴbmb-ѴѴo0-ѴŖ ƓķƐƕѶĺѵ Ƒѷ ƒƑ ƑƏ ƑƔ ƐѶ Ɣ ;1ŊƑƏ ƒ Ŗ ƒķƐѵƏĺƏ ѵѷ Ɣ ƐƖ ƒƐ ƒƔ ƐƏ ;1ŊƑƏ Ɠ ubl;Ѵo0-ѴŖŐƐő ƑķƖƑѵĺƏ ƐƏѷ ƒѶ ƐѶ Ƒѵ Ɩ Ɩ -ŊƑƏ Ɣ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;ŖŐƑő ƑķƐƓƓĺƑ ŊƒƑѷ ƒƔ ƐƐ ƒѵ ƐƑ ѵ ;1ŊƑƏ ѵ !m|;um-ঞom-ѴŖ ƐķƔƑƓĺƐ ƕѷ ƒƔ ƑƐ Ƒƕ ƐƏ ƕ mŊƑƏ ƕ m|;um-ঞom-ѴŐƒő ƐķƓѶѵĺƕ ѵѷ ƒƑ ƐƖ ƒƐ Ɩ Ɩ ;1ŊƑƏ Ѷ m|;um-ঞom-ѴŖ ƐķƒƒѶĺƖ ƒѷ ƑƑ Ƒƒ ƒƑ Ɛѵ ƕ ;1ŊƑƏ Ɩ Ŗ ƐķƑѵƖĺƕ Ɛѷ ƐƐ ƒƔ Ɛƕ ƒƓ ƒ ;1ŊƑƏ ƐƏ oubvom"bŖ ƖƕƕĺƖ Ƒѷ ƒƑ ƑƏ ƒƐ Ѷ Ɩ ;1ŊƐƖ ƐƐ )ouѴ7b7;b|_ŐƓő ƖƓƔĺƏ ƒѷ ƒƔ Ƒƒ ƑƓ ƐƐ ƕ ;1ŊƑƏ ƐƑ "Ѵo0-ѴѴѴb-m1;Ŗ ѶƏƕĺѵ Ɩѷ ƑƔ ƑѶ Ƒƕ ƐƓ ѵ ;1ŊƑƏ Ɛƒ m|;]u-m|;um-ঞom-ѴŐƔő ѵƐѶĺƖ ƕѷ ƓƏ ƑƏ ƑƔ ƐƔ Ŋ ;1ŊƑƏ ƐƓ uorŖ ƔѶѵĺƖ Ѷѷ ƑƔ Ƒƒ Ƒƕ ƑƐ Ɠ ;1ŊƑƏ ƐƔ -bmѴo0-ѴŖ ƒѶƐĺѶ Ɠѷ ƓƖ ƒ ƒ ƓƑ ƒ ;1ŊƑƏ Ɛѵ m|;-Ŗ ƒƐƐĺƐ ѵѷ ƑƔ Ƒƕ ƑƑ ƑƏ ѵ ;1ŊƑƏ Ɛƕ 0-1v)ouѴ7b7;ŖŐѵő ƒƏѵĺƏ ƐƔƔѷ ƑѶ ƑƓ ƐƏ Ɛƒ ƑƔ ;1ŊƑƏ ƐѶ m|;um-ঞom-ѴŖ ƑƕƑĺѵ Əѷ ƑƑ ƒѵ ƑƓ ƐƓ Ɠ ";rŊƑƏ ƐƖ mr-1|Ŗ ƑѵѶĺƓ Əѷ ƒƓ ƑƏ ƒƑ ƐƏ Ɠ ;1ŊƐƖ ƑƏ m|;um-ঞom-ѴŐƕő ƐƓƔĺƕ ѵѷ Ɠƕ Ƒƕ ƐƓ ѵ ѵ ;1ŊƑƏ ƑƐ "m|;um-ঞom-ѴŖŐƐőŐѶő Ɛƒƒĺƒ ƕƑѷ Ɛƕ ƒƑ ƐѶ Ƒѵ ƕ ;1ŊƐƖ ƑƑ &ş"Ѵo0-ѴŐƖő ƐƐƖĺƕ ŊƓѶѷ Ɛѵ Ŋ ѵѵ ƐѶ Ŋ ;1ŊƑƏ

Total revenue/growth 30,859.2 2%

12 | February 2021 | International Accounting Bulletin world survey | world rankings

world associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|ŖŐƐő ѵƏķƔƒƒ ƔѶķƐƏƔ Ɠѷ ƓķƑƓѵ ƓķƑƓƑ ƓƕķѶƔƏ ƓƔķѶƏƐ ѶķƓƒƕ ѶķƏѵƑ ƕѵƐ ƕѶƖ Ƒ ѴѴbmb-ѴѴo0-ѴŖ ƒƐķƓƔƏ ƑѶķƒƕƒ ƐƐѷ ƔķƓƒƖ ƓķѶƕƖ ƑƐķѶƕƑ ƐƖķƕƕƕ ƓķƐƒƖ ƒķƕƐƕ ѵѶѶ ƔƖƑ ƒ ubl;Ѵo0-ѴŖ ƑƓķƐƐƐ ƑƑķƔѵƕ ƕѷ ƑķƐƔƖ ƑķƒƒѶ ƐƕķƕƖƓ ƐѵķƕƒƑ ƓķƐƔѶ ƒķƓƖƕ ѶƔƑ ѶƐƕ Ɠ Ŗ ƑƒķƒѶƖ ƑƑķƏƏƒ ѵѷ ƑķƔƔƓ ƑķƒƖƓ mĺ7 mĺ7 mĺ7 mĺ7 ѶƔƒ ѶƓƏ Ѵo0-Ѵņ;-7bm] 7]; Ɣ ƐѵķƕƔƓ ƑƑķƐѵƑ ŊƑƓѷ ƐķѵƔƒ ƑķƑƐѶ ƐƑķƏƒѶ ƐƔķƓƖƑ ƒķƏѵƒ ƓķƓƔƑ ƓƔƐ ѵƏƑ ѴѴb-m1;Ŗ ѵ !m|;um-ঞom-ѴŖ ƐƓķƕѶƑ ƐƓķƑѶƔ ƒѷ ƐķƒƓƏ ƐķƑƖƒ ƐƑķƐƕƐ ƐƐķƔƖƓ ƐķƑƕƐ ƐķƒƖѶ ѵƏƐ ƔƔƏ ƕ m|;um-ঞom-ѴŖ ƐƓķƑƕƒ ƐƓķƐѵƔ Ɛѷ ƑķƑƐƒ ƑķƑƑƖ ƐƑķƏѵƏ ƐƐķƖƒѵ Ŋ Ŋ ƓƕƐ ƓѵѶ Ѷ m|;um-ঞom-Ѵ ƐƒķƒƓƐ ƐƒķƔƖƕ ŊƑѷ ƐķƒƔƏ ƐķƓƐƒ ƐƏķƑƕƒ ƐƏķƑƒѶ ƐķƕƐѶ ƐķƖƓѵ ƓƓƐ ƓƒƖ Ɩ Ŗ ƐƒķƑƏƏ ƐƐķƔѶƐ ƐƓѷ ƐķƐƓѵ ƐķƏƕƖ Ѷķƕƒƒ ƕķƐƑѶ ƒķƒƑƐ ƒķƒƕƓ ƒƒƑ ƒƓƖ )ouѴ7b7;b|_ ƐƏ ƐƐķѵƐѵ ƐƑķƖƔƔ ŊƐƏѷ ƐķƒƔƔ ƐķƓƔƒ ѶķƐƒƏ ƖķƐƓƕ ƑķƐƒƐ ƑķƒƔƔ ƓƔƓ ƓѵƔ ŐƑő ƐƐ oubvom"bŖ ƐƐķƒƏѶ ƐƏķƒƔѵ Ɩѷ ƐķƏѶѵ ƐķƏƑѶ ѶķƒƏƔ ƕķѵƑƑ ƐķƖƐƕ ƐķƕƏѵ ƒƐѶ ƑƖƏ ƐƑ "Ѵo0-ѴѴѴb-m1;Ŗ ѶķƔƓƐ ƕķƕƒƓ ƐƏѷ ѶƖƖ ƖƐѵ ѵķƔƐƕ ƔķѵѶƓ ƐķƐƑƔ ƐķƐƒƓ ƐƕƓ ƐƕƓ Ɛƒ m|;]u-m|;um-ঞom-ѴŐƒő ƔķѶƒƑ ƓķѶƖƒ ƐƖѷ ƔƔƒ Ɠѵƕ ƒķƖƖƔ ƒķѶƒƐ ƐķƑѶƓ ƔƖƔ Ɛѵƒ ƐƔƑ ƐƓ uorŖ ƔķƕƑƑ ƔķƖƑѶ Ŋƒѷ ѵƖѶ ƕƐƓ ƓķƏѶƖ ƓķƑƐƖ ƖƒƔ ƖƖƔ ƐƒѶ ƐƓƓ ƐƔ m|;-Ŗ ƔķƐƔƔ ƔķƏƓƐ Ƒѷ ѵѶѶ ƔƖƔ ƒķѶƒƓ ƒķѶƐƓ ѵƒƒ ѵƒƑ Ƒƒѵ ƑƑƐ Ɛѵ -bmѴo0-ѴŖŐƒő ƓķѶƕƒ ƒķƖѵƐ Ƒƒѷ ƐƖѵ ƐƓƑ ƓķƒƓƏ ƒķƔѵƔ ƒƒƕ ƑƔƓ ƕƒ ƔƓ Ɛƕ 0-1v)ouѴ7b7;Ŗ ƒķƕѵƓ ƑķƐƒѵ ƕѵѷ ƒƖѶ ƐѶƑ ƐķƓѵƖ ƐķƔƒƔ ƐķѶƖƕ ƓƐƖ Ɛѵƕ ƕƖ ƐѶ m|;um-ঞom-ѴŖ ƒķѵƖƖ ƒķƕƑƐ ŊƐѷ ƒѶƔ ƒƕƖ ƑķѵƓƓ ƑķѵƑƕ ѵƕƏ ƕƐƔ ƐѶƕ ƐѶѵ ƐƖ mr-1|Ŗ ƒķƔƖƒ ƒķѶƐѵ Ŋѵѷ Ɠƕѵ ƔƐƏ ƑķѵƕƖ ƑķѶѵƓ ƓƒѶ ƓƓƑ Ƒƒƒ ƑƑƒ ƑƏ m|;um-ঞom-ѴŐƒő ƑķƏѵƓ ƐķѶƒƕ ƐƑѷ ƑƑƓ ƑƓѵ ƐķƔƑѵ ƐķƒƓƖ ƒƐƓ ƑƓƑ ƐƓƔ ƒƏƏ ƑƐ &ş"Ѵo0-Ѵ ƑķƏƓƐ ƑķƒƖƏ ŊƐƔѷ ƑѵƖ Ƒƕѵ ƐķƓѶƒ ƐķѶƏƔ ƑѶƖ ƒƏƖ ƐѶƓ ƐѶƏ ƑƑ "m|;um-ঞom-ѴŖ ƐķѵƑƕ ƐķƏѶƓ ƔƏѷ ƑƒƏ ƐƒƏ ƐķƐѵƓ ѶƑƖ Ƒƒƒ ƐƑƔ ƐƏƔ ƕƐ

$o|-Ѵv|-@ņ]uo|_ 281,668 272,690 3% 29,557 29,123 192,966 187,589 38,310 36,369 8,027 7,985

www.internationalaccountingbulletin.com | 13 world survey | outlook

rreimaginingeimagining thethe aaccountingccounting industry’sindustry’s ggloballobal futurefuture

AAfterfter a tumultuoustumultuous yearyear forfor thethe globalglobal economy,economy, therethere isis a sliversliver ofof hopehope thatthat thethe roll-outroll-out ofof CCovid-19ovid-19 vaccinationvaccination pprogrammesrogrammes mmayay eenablenable tthehe aaccountingccounting iindustryndustry ttoo pplanlan a mmoreore ccertainertain rroadoad aahead.head. ZZoyaoya MMalikalik sspokepoke toto thethe industry’sindustry’s globalglobal CEOsCEOs toto getget a feelfeel forfor howhow theythey hhaveave ccopedoped withwith andand assessedassessed pandemicpandemic challenges,challenges, andand thethe newnew initiativesinitiatives theythey havehave setset forfor 20212021

xactly what the post-pandemic first is the need to adjust to the ‘new landscape will look like is open normal’, changing business models and Efor debate, but there is no doubt strategies. Second is adopting – or in many that restoring the health of the world’s cases, accelerating – the adoption of new economic and commercial engine is our technology to continue providing traditional next priority. services in a more efficient manner. Third To this end, while the accountancy industry is adjusting future resource planning, both is as susceptible to the vagaries of the course human and physical, to what will suit this of the ongoing pandemic as any other, firms brave new world. are planning and implementing strategies for survival today and growth tomorrow. AUDIT Clients have come to expect their auditor to have a global purview, but combining this One cornerstone of the accountancy industry, reach with consistency in providing excellence, the audit function, has been undergoing along with a dedicated methodology, is often something of a transformation over the past a fundamental challenge. Core to solving this few years, with an emphasis on making it challenge is giving auditors a clear, specialist a specialist service unit to achieve a type of career path. The exit of smaller accounting independence while maintaining quality. and advisory firms and the growing pressure Audit and assurance is crucial for the towards consolidation on smaller market Ted Verkade, Baker Tilly efficient functioning of all economies participants has been playing out for some Apart from the pandemic, other significant and capital markets. It may become even time, and pushed along by the global geopolitical events have affected the global more relevant as sustainability and climate emergency, the competitive landscape is economy throughout 2020; the final post- performance come into greater focus, and the changing dramatically. Brexit trade agreement between the UK and related societal demands for transparent and In business, as in other areas of life, the the EU, Joe Biden’s election victory and the reliable reporting in those areas increases. most difficult decisions often concern people, subsequent further polarisation in US politics, The collapse of Enron 20 years ago acted as and from the outset of the pandemic, the China’s growing influence in all corners of a wake-up call to the accounting profession, biggest concern for every CEO has been the world, the inexorable march of right- and impacted several aspects of the industry: ensuring that their colleagues can continue wing politics in India, race relation debates auditing, regulatory oversight, off-balance to work safely, efficiently and happily while enflamed by the death of George Floyd etc. sheet entities, lack of strong internal controls maintaining business continuity and a high- These and many other factors affect and conflicts of interest between advisory and quality service delivery. Moving significant businesses and livelihoods, and combined auditing services. numbers of people over to an entirely remote with the disastrous economic effects of Starting with the passing of the Sarbanes working model almost overnight has been a Covid-19, companies across the globe Oxley Act, continuing with the introduction challenging task for everyone. are having to look at three key areas. The of new internal accounting control continues on page 16 14 | February 2021 | International Accounting Bulletin world survey | audit and assurance

aauditudit andand assuranceassurance

Audit: Network data Audit: association data

Fee income Fee income Rank Name 2020 ($m) Growth Rank Name 2020 ($m) Growth Ɛ Ŗ ƐƕķѵƏƒĺƏ Ɛѷ Ɛ u-b|Ŗ ƑķѵƑƖĺƓ Ɠѷ Ƒ +Ŗ ƐƑķѶƏƏĺƏ ƒѷ Ƒ ѴѴbmb-ѴѴo0-ѴŖ ƐķƒƒƕĺƑ Ɣѷ ƒ Ŗ ƐƐķƏƕƏĺƏ ŊƑѷ ƒ ubl;Ѵo0-ѴŖ ƐķƐƐƐĺƖ Əѷ Ɠ ;Ѵob;Ŗ ƖķƖƏƏĺƏ Ŋƒѷ Ɠ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƕƔƏĺƔ ŊƒƖѷ Ɣ ƓķƒƐƏĺѶ Ɠѷ Ɣ !m|;um-ঞom-ѴŖ ƔƒƒĺƓ Ɩѷ ѵ !" ƑķƓƒƕĺѶ ƐƐѷ ѵ m|;um-ঞom-Ѵ ƓƕƔĺƕ ѵѷ ƕ u-m|$_oum|omŖ ƑķƒƑƓĺƒ Ɠѷ ƕ )ouѴ7b7;b|_ ƒƒƏĺѶ ƑƔѷ Ѷ Crowe ƐķѵƔƕĺƓ ŊƐѵѷ Ѷ oubvom"bŖ ƒƐƑĺƖ Ƒѷ Ɩ ;b-m|;um-ঞom-ѴŖ ƐķƔƒƕĺѵ ѵѷ Ɩ m|;um-ঞom-ѴŖ ƑƖƕĺƖ Əѷ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƐķƓƑƒĺƓ Ɩѷ ƐƏ m|;]u-m|;um-ঞom-Ѵ ƑƓƕĺѵ ƕѷ ƐƐ oou;Ѵo0-Ѵ ƐķƏƖƓĺƒ Ɛѷ ƐƐ "Ѵo0-ѴѴѴb-m1;Ŗ ƑƏƐĺƖ ƐƓѷ ƐƑ --uvŖ ƐķƏѵƒĺƔ ƐƓѷ ƐƑ -bmѴo0-ѴŖ ƐѶƕĺƐ ѵѷ Ɛƒ ƐķƏƐƔĺƖ Ɣѷ Ɛƒ Ŗ ƐƕƏĺѵ ŊƓѷ ƐƓ u;v|omm|;um-ঞom-Ѵ ѶѵƒĺƖ Ɛѷ ƐƓ uorŖ ƐƓѵĺƕ Ɩѷ ƐƔ m|;um-ঞom-Ѵ ѵѵƒĺƏ Ɣѷ ƐƔ Ŗ ƐƒƖĺƓ ƐƑƒѷ Ɛѵ "_bm;)bm]m|;um-ঞom-ѴŖ ƒƔƐĺѶ ƕѷ Ɛѵ mr-1|Ŗ ƖƑĺƏ ƑƏѷ Ɛƕ &+m|;um-ঞom-ѴŖ ƑƑƑĺƏ Ɛѷ Ɛƕ 0-1v)ouѴ7b7;Ŗ ѶƔĺƕ ƐƒѶѷ ƐѶ " Ŗ ƐѶƑĺƏ ƐƑѷ ƐѶ m|;-Ŗ ƕƕĺѶ ѵѷ ƐƖ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƐƔƓĺƒ Ɩѷ ƐƖ m|;um-ঞom-Ѵ ѵѶĺƔ Ƒѷ ƑƏ ("m|;um-ঞom-ѴŖ ѶѶĺƑ Ƒƒѷ ƑƏ m|;um-ঞom-ѴŖ ѵƏĺƏ Ɣѷ ƑƐ !;-m7-m|;um-ঞom-Ѵ ѶƓĺƓ ѵѷ ƑƐ "m|;um-ঞom-ѴŖ ƑƑĺƕ ƓƏѷ ƑƑ $"Ŗ ƓƔĺƖ ƓѶѷ ƑƑ &ş"Ѵo0-Ѵ ƐƖĺƑ ŊƓƓѷ

Total revenue/growth 71,067.4 1%

www.internationalaccountingbulletin.com | 15 world survey | outlook

perhaps, reduce the amount of advisory work done for attestation clients.” One size does not fit all, and the pandemic has brought that into sharp relief. For example, Rhys Madoc, CEO at UHY International, is also concerned about the problem of maintaining quality and states: “Standards and robust communication are the development blocks for audit practices working internationally. For UHY, each member of our network is independent and, therefore, must be compliant with their local regulatory bodies. Additionally, we participate in the Forum of Firms and members must also comply with IFAC’s International Standard on Quality Control 1 which provides a framework for independence quality control.” Similarly, Allinial Global president and "|;r_;mvঞmķ";mvom7bvouv !_v-7o1ķ&+m|;um-ঞom-Ѵ CEO Mark Koziel focuses on the fact that legislation in Europe, Asia and Australia, and increased scrutiny does not necessarily the competitors and attract talented staff in culminating in the birth of the PCAOB in change what has always been done globally. the future. Member firms must grow external the US and other similar oversight boards He explains: “Regarding audit and non- as well as in-house training, with continuous in the EU, the public accounting profession audit work, the advantage of associations of e-learning becoming more prevalent.” had started to take a serious look at the independent firms like Allinial Global is that PrimeGlobal CEO Steve Heathcote adds role of corporate governance, and that of they can easily provide separation between that its approach is similar, in “helping firms audit committees in particular. This led to the firms that provide audit and non-audit share good practices, by introducing them a decrease in restatements and audit failures, services.” to technology through partnerships with until Wirecard in 2020. The scandal at the There is broad agreement among industry data analytics and AI software companies, German fintech company only helped to leaders that training and specialisation is by providing training through our remote emphasise that at the heart of the audit key. As BDO’s global CEO, Keith Farlinger, auditing courses, and by supporting function is regulation and quality. states: “In pursuing high-quality audits, we secondments between firms. The new ISQMs, published by the IAASB at the end of 2020, are a positive development in this direction, and present Standards and robust communication firms with an opportunity to improve and harmonise quality assurance. are the development blocks for audit As Baker Tilly CEO Ted Verkade puts it: “Auditor independence continues to be practices working internationally important and we keep a close watch on the ongoing debate over audit regulation in the UK and, in the aftermath of Wirecard, are are focused on hiring specialists who can This “sharing” of experience, by deploying evaluating the threats and opportunities of support our engagement teams in serving individuals from one firm to another, points different scenarios for our member firms.” our key clients, for instance in the areas of to a potential solution for the problem of Baker Tilly’s approach is to rely on a information technology security, valuation redundancy which, ironically, is partly being standardised Global Audit Methodology, and sustainability.” driven by the spread of the same technology providing members with a platform for Dr Christian Gorny, CEO at ETL Global, helping to propel digital training courses and delivering consistent high-quality audits. goes so far as to say: “General practitioners partly by the need to develop specialist skills. Stephen Austin, CPA managing partner will not survive.” This, rather chilling, RSM International CEO Jean Stephens at Integra International member firm statement also highlights one of the biggest appears to underscore this trend by Swenson Advisors LLP, adds: “Wirecard will challenges for the audit profession, especially explaining: “As part of the roll-out of our be an example that due diligence by top post-Covid 19; how do you repurpose global audit methodology and supporting management is critical and that advisory personnel for specialist tasks? platform, which scales according to client services can impact the clarity of the audit Of course, firms can hire their way to complexity and circumstance, we hosted performed. The lack of strong regulatory success, but the key may be in what Gorny hundreds of partners and managers globally oversight allows fraud to perpetrate, coupled goes on to say, that “adding technological in a series of ‘train the trainer’ sessions. We with the complexity of a digital world. The capabilities to the academic education of our also facilitated a number of inter-firm Big 4 are cognisant of this weakness and the member firms’ audit professionals will clearly secondments for our best and brightest need to bolster their independence rules and, differentiate their audit services from those of auditors, prior to the pandemic hitting.” continues on page 18 16 | February 2021 | International Accounting Bulletin world survey | accounting

aaccountingccounting

accounting: Network data accounting: association data

ƑƑ bm r;uঞ-Ŗ ƓĺƐ Ƒѷ Total revenue/growth 5,933.5 1%

www.internationalaccountingbulletin.com | 17 world survey | outlook

during the pandemic, with its disruptive impact, came from specific industries. It laid bare the vulnerability of globalisation and global supply chains as clients sought advice on how to navigate through the crisis – services such as financing, tax, government incentives, recovery, restructuring and human resource issues. Of course, the pandemic was not the only show in town: other political and societal events and changes over the past year have also been keen factors. “Last year, we saw accountants demonstrate incredible resilience, empathy, passion and delivery,” says Russell Bedford International CEO Stephen Hamlet. “Businesses looked at accountants as the front line to those under immense financial pressure, as much as the nurses who were looking after those medically Mark Koziel, Allinial Global Keith Farlinger, BDO affected. The crisis has highlighted the value of “Following the initial fire-fighting and unallocated and are looking for investments. audit. Audit reports are being scrutinised, and assisting clients with specific Covid-related Even before large parts of the world were there is an opportunity to provide a wider stimulus packages, clients needed support forced to work from home, companies range of assurance covering sustainability and with restructuring and strategic planning to were looking at some form of digital governance matters. Audits require differing ensure businesses survived.” transformation, seeking guidance on systems approaches; for example, PIEs have more There has not been much regional variance. upgrades and business intelligence help.” restrictions and audit practices need strong Markets have been influenced by the Although each country’s situation is technical and quality departments to advise evolution of the pandemic and government based on a set of specific circumstances and on the best approach. They also need trained interventions. The real difference has been differentiated legal frameworks, firms from staff and robust, consistently applied audit between industries, with healthcare and several jurisdictions have been collaborating methodology. The major upcoming issue for firms is the introduction of the Quality Management M&A, transaction advisory, valuation and Standards, which further encourage firms to proactively manage quality and ensure ethics all technology-related areas have been and independence are addressed appropriately. In that process, it is possible that firms will in high demand on the advisory side proactively manage the risk profile of their audit client base which could lead to some entities looking for new auditors. hospitality at opposite ends of the spectrum. to construct strong digital consulting Training, retraining and a commitment Madoc adds that an additional worry has capabilities with a constant exchange of to continual education seem to be a post- been that cybersecurity continues to cause knowledge and expertise. Covid priority, especially as the industry concern for their clients leading to increased The impact on revenue has been felt across looks to avoid significant layoffs. Kreston demand in that area. the board. For example, globally, RSM grew International CEO Liza Robbins sums it up The spotlight, throughout 2020, has firmly by 9.2% in 2020, taking revenues to $6.3bn best when she says the key to success, going been on the IT sector. Farlinger explains: and consulting services saw the highest forward, will be learning how to work in a “IT services have shown solid growth across growth with an increase of 15%, Audit 10% remote environment and “the appropriate all markets as firms have shifted to remote and 6% in tax. exercise of professional scepticism”. working, needing robust systems with up- As Stephens explains: “North America and to-date solutions. M&A and other corporate Asia-Pacific experienced the greatest growth, ADVISORY finance services saw an initial impact as the particularly in consulting services driven by pandemic erupted in the spring of 2020, but significant demand for management and Geopolitical and regulatory trends are, has subsequently rebounded.” business consulting, IT consulting and risk typically, interrelated. The current pandemic Verkade adds: “M&A, transaction advisory, management as middle market businesses has thrown up significant economic, valuation and all technology-related areas responded to the pandemic, reorganised their regulatory and societal challenges and events have been in high demand on the advisory business operations and rapidly digitised their like these tend to offer excellent business side, but from a corporate finance perspective, infrastructure. Europe and the Middle East opportunities. investment companies like private equity also saw solid growth. However, growth in The greatest demand for advisory services funds, have high levels of dry powder the emerging economies of Africa and Latin continues on page 20 18 | February 2021 | International Accounting Bulletin world survey | tax

ttaxax

tax: Network data tax: association data

Fee income Fee income Rank Name 2020 ($m) Growth Rank Name 2020 ($m) Growth Ɛ Ŗ ƐƏķƕƓѶĺƏ Əѷ Ɛ u-b|Ŗ ƐķƕѶƕĺƕ ƐƑѷ Ƒ +Ŗ ƖķѶƏƏĺƏ Ɣѷ Ƒ ѴѴbmb-ѴѴo0-ѴŖ ƐķƏƓƓĺƕ ѵѷ ƒ ;Ѵob;Ŗ ѶķƕƏƏĺƏ Ɣѷ ƒ Ŗ ƖѶƖĺƐ ƕѷ Ɠ Ŗ ѵķƓѶƏĺƏ ŊƐѷ Ɠ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƕƕƐĺƖ Ƒƒѷ Ɣ ƑķƑƔѶĺƏ ƐƑѷ Ɣ ubl;Ѵo0-ѴŖ ƕѵƏĺѶ ƒƐѷ ѵ !" ƐķƖƐƒĺƑ Ɣѷ ѵ m|;um-ঞom-Ѵ ƓѵƏĺƖ ѵѷ ƕ u-m|$_oum|omŖ ƐķƑƔѵĺƐ Əѷ ƕ m|;um-ঞom-ѴŖ ƓƑѶĺƓ ƕѷ Ѷ ;b-m|;um-ঞom-ѴŖ ƐķƑƔƒĺѶ Ɛƒѷ Ѷ !m|;um-ঞom-ѴŖ ƓƐƐĺƔ ƐƑѷ Ɩ Crowe ƐķƑƔƑĺѶ ƐƏѷ Ɩ oubvom"bŖ ƒƏƒĺƐ Ɩѷ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƐķƏƏѵĺƖ Ɩѷ ƐƏ )ouѴ7b7;b|_ ƑƑѵĺѶ ƒѷ ƐƐ oou;Ѵo0-Ѵ ƖƓƓĺƓ ƒѷ ƐƐ Ŗ ƑƑƐĺƐ Ɠѷ ƐƑ ѶƐƖĺƒ ƕѷ ƐƑ "Ѵo0-ѴѴѴb-m1;Ŗ ƑƐѶĺƏ Ɛƒѷ Ɛƒ u;v|omm|;um-ঞom-Ѵ ƔƕƏĺѶ ŊƐƑѷ ƐƔ uorŖ ƐƔѶĺƔ Ɩѷ ƐƓ --uvŖ ƒѶƓĺƕ ƑƐѷ ƐƓ m|;]u-m|;um-ঞom-Ѵ ƐƔƓĺƕ ƕѷ ƐƔ m|;um-ঞom-Ѵ ƒƑƓĺƐ ŊѶѷ Ɛѵ mr-1|Ŗ ѶƔĺƒ ѵѷ Ɛѵ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƐƒƏĺѵ ƐѶѷ Ɛƒ &ş"Ѵo0-Ѵ ƕƖĺƏ ŊƔƏѷ Ɛƕ ("m|;um-ঞom-ѴŖ ƐƑƑĺƑ Ɠѷ ƐѶ m|;-Ŗ ѵѶĺƓ ѵѷ ƐѶ &+m|;um-ঞom-ѴŖ ƐƐƔĺѶ Ɛƕѷ Ɛƕ m|;um-ঞom-ѴŖ ѵƔĺƓ ŊƓѷ ƐƖ " Ŗ ƐƏƖĺƑ ŊƐѷ ƑƐ 0-1v)ouѴ7b7;Ŗ ƒƏĺѵ ƔƏѷ ƑƏ &ş"l;ub1- ƕƖĺƕ ŊƓƖѷ ƑƏ "m|;um-ঞom-ѴŖ ƑƓĺƏ Ɠƕѷ ƑƐ $"Ŗ Ɣƒĺѵ ƐѶѷ ƐƖ m|;um-ঞom-Ѵ ƑƏĺƓ ŊƔƕѷ ƑƑ "_bm;)bm]m|;um-ঞom-ѴŖ ƓƑĺѵ Ŋƒѷ ƑƑ -bmѴo0-ѴŖ ƐƐĺƔ ƔƔѷ

Total revenue/growth 48,514.2 3%

www.internationalaccountingbulletin.com | 19 world survey | outlook

third-largest cloud provider for Infrastructure as a Service (IaaS) in the world, and number one in Asia for cloud services, as compared with AWS in the US. The Chinese appear to have bigger technological and monetary muscles to flex, and although audit is still dominant, hitherto deficient off-the-shelf technology solutions are emerging, and with them demand for advisory services. Across the board, clients are demanding increased support with regard to the optimisation of their businesses, and assistance with the digitisation of business processes. With the profession implementating new technologies, as well as restructuring processes within existing business models, some projects are even triggering product innovation and new _ubvঞ-moumķ $Ѵo0-Ѵ Steve Heathcote, PrimeGlobal business models for clients. America was more static as these markets have Of course, until tourism resumes and travel With air travel coming to an effective been somewhat challenged by a decline in bans are lifted there will be little that travel standstill, individuals who were typically international investment.” Koziel adds. and hospitality firms can do, but when they globally mobile and had personal tax affairs “Technology advisory was still strong do, it will be a matter of assisting clients with organised accordingly, now find themselves in 2020, as many companies needed help safety procedures and technology protocols in having to address the implications of being moving to the cloud and putting additional the new normal. ‘stuck’ in one country for a prolonged period. controls in place. I’d include client accounting This potentially has permanent establishment services in that category; it was a high-growth TAXATION implications, which has created further area for firms that embed advisory into their opportunities. transactional client accounting.” Despite the pandemic, demand for advice in Taxation advisory has always been fraught Broadly, however, other advisory services direct and indirect taxation remains strong with challenges. Some are ever present such declined in 2020 as companies tightened as a consequence of globalisation in trade as territorial variances depending on the up on spending and focused on must-have and manufacturing, even for small-scale domestic economic and political factors at services. Perhaps the most interesting aspect businesses. Perhaps accelerated by the global play. For example, in the UK there has been of this is how the advisory market is playing emergency, 2020 has seen an increase in the increased demand for indirect tax services and out in the two biggest economies in the pace with which online services have emerged, structuring advice because of the 11th-hour world, and the opportunities that this rivalry whether B2B or B2C, and this is creating uncertainty surrounding Brexit. Similarly, is creating. For lease accounting advisory potential new avenues of business for tax the impact of US tax reform in 2017, which services to implement a very complex specialists. made changes to individual income tax, standard in the US, Topic 842, takes a substantial amount of time and effort to identify and properly account for trillions There is growing concern that big techs, of dollars of ‘off balance sheet’ liabilities and have them properly stated on the global which can own your cloud-based records, corporate balance sheets. Austin expounds: “The movement towards may not always act as friendly partners greater digitisation will continue to require additional expertise, with companies looking to improve their efforts to meet their Other factors that are leading to the estate tax, corporate tax, and even non-profit customers’ expectations and yet still provide increased demand for tax advisory services organisations, is still being felt, and with a transparency for others to look into the and support are the rise of nationalism, more new president in place, there is potential for accuracy of the accounting records. There stringent tax enforcement, the ubiquity of further change on the horizon. As Farlinger is growing concern that big techs, which global tariff and trade disputes, increased opines: “Companies have changed their can own your cloud-based records, may not digitisation of tax systems and processes, and approach to tax governance in response to always act as friendly partners, and they are an era of hyper-legislation. Unsurprisingly, scrutiny from tax authorities. Tax assurance flexing their muscles in the US.” there has also been universal demand for and risk management services are growing to Conversely, China, as it seeks to extend assistance in accessing grants, relief and meet this demand.” its global influence, has managed to propel government support packages in relation to Austin adds: “The highest number of Alibaba Cloud to the point that it is now the the pandemic. questions we deal with are to do with VAT continues on page 22 20 | February 2021 | International Accounting Bulletin world survey | advisory

aadvisorydvisory

advisory: Network data advisory: association data

Fee income Fee income Rank Name 2020 ($m) Growth Rank Name 2020 ($m) Growth Ɛ ;Ѵob;Ŗ ƑƖķƑƏƏĺƏ Ɣѷ Ɛ u-b|Ŗ ƐķƑƐƏĺƓ ŊƓѷ Ƒ Ŗ ƐƓķѵѶƐĺƏ Ƒѷ Ƒ Ŗ ƐķƏƖƒĺƓ Ѷѷ ƒ Ŗ ƐƐķѵƕƏĺƏ ŊƑѷ ƒ ѴѴbmb-ѴѴo0-ѴŖ ƕƔƑĺƐ ƐƓѷ Ɠ +Ŗ ƐƏķƔƏƏĺƏ Ɣѷ Ɠ Ŗ ƓƑƖĺƕ ƑƐƑѷ Ɣ ƑķƐƔƔĺƓ ƕѷ Ɣ ubl;Ѵo0-ѴŖ Ƒѵƒĺƒ ƓƑѷ ѵ u-m|$_oum|omŖ ƑķƏƕƔĺƒ Ɛѷ ѵ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƑƔƕĺƒ ŊƓƖѷ ƕ !" ƐķƓƒƔĺƖ ƐƔѷ ƕ m|;um-ঞom-ѴŖ ƑƐƓĺƑ Ƒƕѷ Ѷ Crowe ƖƔƓĺƖ ŊƐѷ Ѷ -bmѴo0-ѴŖ ƐѵƏĺƓ ŊƐѷ Ɩ ѶƔƑĺƐ ƒѶѷ Ɩ !m|;um-ঞom-ѴŖ ƐƔƑĺƓ ƐƏѷ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƕƐƔĺѶ Ɩѷ ƐƏ m|;um-ঞom-Ѵ ƐƒƒĺѶ ѵѷ ƐƐ ;b-m|;um-ঞom-ѴŖ ƓѵƖĺƕ Əѷ ƐƐ uorŖ ƐƑƒĺƒ Ɩѷ ƐƑ --uvŖ ƒѶƓĺƕ Ƒѷ ƐƑ "Ѵo0-ѴѴѴb-m1;Ŗ ƐƐƒĺƐ Ƒѷ Ɛƒ u;v|omm|;um-ঞom-Ѵ ƒѵƖĺƔ ѵƏѷ Ɛƒ )ouѴ7b7;b|_ ƐƏƓĺƏ ƐƓѷ ƐƓ oou;Ѵo0-Ѵ ƒѵƏĺƔ Ƒѷ ƐƓ m|;]u-m|;um-ঞom-Ѵ ƖƑĺѶ ƕѷ ƐƔ " Ŗ ƑƒƒĺƏ Ƒѷ ƐƔ oubvom"bŖ ƕѶĺƑ ŊƖѷ Ɛѵ m|;um-ঞom-Ѵ ƐƒƑĺѵ ƑƏƑѷ Ɛѵ m|;-Ŗ ѵƑĺƑ ѵѷ Ɛƕ &+m|;um-ঞom-ѴŖ ƖƖĺƏ ƐƓѷ Ɛƕ 0-1v)ouѴ7b7;Ŗ ƒƖĺѶ ƐƑƐѷ ƐѶ ("m|;um-ঞom-ѴŖ ѶѵĺƑ Ɣƕѷ ƐѶ m|;um-ঞom-ѴŖ ƒѶĺƑ ƓƏѷ ƐƖ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ѶƒĺƐ ƐƑѵѷ ƐƖ "m|;um-ঞom-ѴŖ ƒƓĺƕ ƒƓѶѷ ƑƏ "_bm;)bm]m|;um-ঞom-ѴŖ ƒƕĺƒ ŊƔƑѷ ƑƏ mr-1|Ŗ ƑѵĺƐ ƒѷ ƑƐ u;mŖ ƑƔĺƕ ŊƑѷ ƑƐ &ş"Ѵo0-Ѵ ƑƐĺƔ ŊƓƐѷ ƑƑ !;-m7-m|;um-ঞom-Ѵ ƑƓĺƐ ŊƑƏѷ ƑƑ m|;um-ঞom-Ѵ Ѷĺƕ ƔƒƖѷ

Ƒƒ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƑƒĺƏ ƐƓѷ Total revenue/growth 5,409.6 8%

Total revenue/growth 76,650.3 4%

www.internationalaccountingbulletin.com | 21 world survey | outlook

increased requirement of firms to engage in transfer pricing and to understand VAT and its equivalent in counties with which they do business.” The other great challenge for the industry is in the digitisation of taxation regimes and services. Therefore, because jurisdictions have different tax requirements and regulations, a one-size-fits-all technology solution is difficult to achieve. There are other potential obstacles, such as the specification of some software products requiring the updating of IT hardware, local providers offering favourable competitive pricing to global licenses, localised product training at times being difficult to achieve, the availability of advice, guidance and instructions in multiple languages, gaining buy-in from all offices to the benefits of a ;-m"|;r_;mvķ!"m|;um-ঞom-Ѵ b-!o00bmvķu;v|omm|;um-ঞom-Ѵ new software package, and ensuring that the in the EU, transfer pricing and DAC 6 software is up to date and capable of dealing learning technologies. Of course, to make reporting issues. Our primary growth area with multiple types of business structures in these connections it is important to have the is dealing with new tax regulations based on multiple jurisdictions. How does one begin to right skill set within your teams, people who BEPS OECD.” deal with such a daunting list? appreciate disruptive technologies but who According to Stephens, RSM members “Western economies often use similar also have an understanding of taxation. The recorded a 6% increase in revenue from the packages which can be integrated through industry is seeing a trend in the recruitment provision of tax services in 2020. This was APIs,” states Heathcote. “US firms often of tax technologists across the board, with predominantly fuelled by increased demand partner with UK firms as packages are similar one firm even reporting that every tax for tax advisory services addressing the and the UK can make connections to Europe, professional it recruits is matched with a complexity of a changing legislative landscape despite Brexit”. technology recruit in the same team. caused by the Covid-19 crisis. Demand also Gorny says ETL deals with the Additional priorities tend to differ in accelerated for tax advice regarding M&A development and implementation of importance, depending on the region in opportunities for strategic deals and, in the tax-relevant technologies by having an IT question. For example, in North America latter part of the year, restructuring and company, eurodata, as a 100% subsidiary recruiting and retaining the necessary talent to implement technology is key, while in Asia-Pacific it is about redefining roles and US firms often partner with UK firms as responsibilities. Automating routine processes and redefining workflows are one thing, but packages are similar and the UK can make keeping up with the rapid pace of change across multiple jurisdictions is the real connections to Europe, despite brexit challenge. The key, for many in the industry, will be partnering with software companies to unlock the full potential that disruptive transaction support as businesses looked for in the ETL group and, thereby, seeking to technologies offer in order to make the recovery opportunities. achieve its tech goals efficiently and effectively delivery of tax advisory services more efficient Transfer pricing is an important area in-house, without being dependent on and more profitable. of focus at this time, with the drive by external sources. In order to successfully implement new many governments to protect their tax For anyone attempting to implement technologies, a common and collaborative base. Andrew Collier, director of quality technological solutions, the starting point approach is critical to ensure that, irrespective and professional standards at Kreston has to be to look for commonalities in of the software and tools used, client service International, believes that VAT and GST processes. For example, the process of filing delivery is cohesive. are a major drive for entities as there can an individual tax return is similar across many be significant costs if supply chains are not territories, and that is a process that naturally RECRUITMENT planned appropriately. The exit of the UK lends itself to Robotic Process Automation from the EU is expected to increase demand (RPA) technology. Attracting and integrating new talent is one for these services for businesses that operate Research and development tax regimes of the greatest challenges that companies within the EU and the UK. have commonalities in their structure and have to face in order to meet organisational MSI Global Alliance CEO Tim Wilson claiming requirements, lending themselves needs, and this has not changed during the reinforces this view, stating: “We have seen an to automation and eventually machine pandemic.

22 | February 2021 | International Accounting Bulletin world survey | outlook

problem-solving. Last year taught the profession that flexibility is key, and strong ability in advisory is vital. Those firms who were able to adapt, promptly and effectively, are those that did well.” Farlinger agrees, adding: “Recruiting people with the right academic or technical backgrounds is still important, but we also focus on intangible skills, such as communication, collaboration, flexibility, creativity and management abilities. Also, the potential of a candidate, and their natural ‘fit’ with the organisation’s DNA is oftentimes more important than past experience.” Hanging like a dreaded spectre over any discussion these days is the shadow of automation. Touching every sector of the economy, most of us no longer talk about ‘what if?’ rather than ‘what now?’ This is an "|;r_;m-lѴ;|ķ!vv;ѴѴ;7=ou7m|;um-ঞom-Ѵ m7u;oѴѴb;uķu;v|omm|;um-ঞom-Ѵ important juncture for all societies, because it In practical terms, interviews and allows us to take practical, meaningful steps As Robbins says: “Roles are not being presentations cannot always take place in forward. Accountancy is no different from replaced on a significant level, although person and therefore have to be replaced by any other sector and, in combination with a the skill mix is changing with the need for virtual solutions. Most ‘traditional’ face- strong legal and regulatory framework and more recruits to have digital skills. Digital to-face recruitment events, such as campus attention to improving processes, the industry investment is aimed at improving quality and recruitment, can no longer take place. The can take full advantage of the technological effectiveness, including improving the client main challenge has been to fill this gap with advances on offer. experience.” creative alternatives, whereby firms can Koziel talks about a studied approach to continue to reach and attract new candidates, automation, stating: “While automation CONFERENCES AND EVENTS convey a sense of a firm’s culture, and ensure and AI may replace lower-level tasks, they a positive candidate experience. create greater opportunity to become trusted In the midst of the pandemic, virtual events Across the profession, recruiting has advisors to our clients. I think it’s best to have been all that are really possible, and softened slightly during the pandemic break this down by service line. For audit, many firms are finding that for the mental because many firms are unsure of what automation could eliminate mundane, well-being of their staff, having these get- the future looks like. Globally, firms have lower-level tasks, but having access to 100% togethers is paramount. struggled to find talent in the mid-level of client data provides the opportunity to Many have reaped the benefits of being experience range, from manager to director work differently and spend more time in risk able to work from home; it saves time and level, but training, onboarding and getting assessment and auditing for the areas that money, keeps people safe, and has enabled new talent accustomed to the firm’s culture matter most. Plus, blockchain will continue firms to explore new ways of doing things. were the greatest challenges. to grow and increase opportunities for firms. Many of the meetings that had previously Accountants may traditionally have been “Similarly, as firms automate indirect tax been conducted in person are proving to viewed purely as numbers specialists, but filings, they are finding that clients have be as effective, or even more so, in a virtual a range of skills has always been valued. even more need for advisory. Finally, client environment, which could mean that once Professionals require a strong mix of accounting, potentially, has the greatest society moves back to in-person contact, that numeracy, commerciality, technological growth opportunity. A firm can offer time could be used to evolve discussions to adaptability, understanding of data science, automated transactions that eliminate more sophisticated levels. and strong soft-skills such as critical thinking, client staff and then move upstream to offer This situation has also given the industry compassion and understanding as they assess additional data insights and advisory services.” the opportunity to open some network-wide the human impact of business decisions. Digital investment should, therefore, be activities to a far greater pool of individuals. In today’s environment, having a good viewed as a medium- to long-term strategic Many organisations are in the process of level of emotional intelligence is extremely benefit, as opposed to a necessary evil, which planning hybrid events so they can maintain important. Hamlet alludes to this when is how it has been perceived in the past. If that level of increased engagement after the he says: “I believe the term ‘traditional anything, 2020 has shown just how essential pandemic, and this change is likely to become accountant’ will soon be something of the technology is in conducting day-to-day permanent as technology improves. past; if not already. Firms are now seeking business. Of course, automation, ML and AI Wilson affirms this when he says: “Virtual individuals from IT backgrounds to cope will replace some processes and, ultimately, meetings have been really successful within with the adaptability of new technologies, jobs. Often however, rather than replacing MSI, especially our international conference in addition to those with skills in strategy, roles, technology is doing the tasks that free which had 1,900 registrants, thereby decision-making, communication and up people to add greater value in other areas. increasing our reach into firms. These virtual

www.internationalaccountingbulletin.com | 23 world survey | outlook

meetings will continue in 2021 and beyond areas for our ongoing development as we but will be augmented by physical ones in move forward.” due course. The physical ones are essential to On technological initiatives, she adds: really build relationships and trust.” “The technological advances that were made Heathcote agrees, adding: “Our teams in 2020 – for example our new global worked remotely before the crisis, so we learning management system, the new client managed well. We have got to know our collaboration portal, and other data analytics members even better as partners are more tools – will continue to evolve to achieve even accessible and we will offer a mixed model greater successes long into the future.” moving forward. We will continue to provide Heathcote talks about operational virtual opportunities to engage, targeting improvements to PrimeGlobal’s digital those with common interests to connect capability for professionals across firms to while in-person events will seek to create find and make relevant connections, on relationships that generate opportunities.” profiling firms and professional’s expertise The numbers that can participate online and automating back office functions. are mindboggling, as Stephens highlights For Wilson, the priorities lie with plans for when talking about RSM’s annual World a new website to assist member collaboration Conference. She says: “We rebranded the and with its referrals. MSI Global Alliance Tim Wilson, MSI Global Alliance event as the Festival of Reimagination, and will also look to improve its L&D offering. what was previously available to just a few member firms, the set-up of an IT hub for Madoc confirms initiatives surrounding hundred was opened up to all 48,000 of Eastern Europe as well as continued efforts virtual networking sessions with an increased our colleagues, resulting in phenomenal in communications to increase visibility and use of dedicated mobile apps to support on- attendance levels, never before experienced.” market recognition. the-go and quick turnaround to clients’ needs The big question, to which probably no Farlinger comments that 2021 will be a and questions. The network will further aim one has a clear answer, is when in-person year to communicate the full implementation to provide the ability to support cross-border events, whether standalone or as part of a of the new lease accounting standard, and client work and to be familiar with those who hybrid strategy, will resume. Culture and a drive to provide low-cost solutions and are undertaking the work. sense of community are, typically, critical methodology from lessons learned with For new initiatives to be set on course and for the well-being of any individual and public companies. He says: “The same is true achieve success within professional services instrumental in delivering against a global for revenue recognition. Topics such as 606 or otherwise, the biggest issues are around strategy. Finding a new way to replace office and IFRS 15 must all be streamlined, and fees how best to strike a balance, prioritise scarce culture with personal culture as we now lowered. The rapid digitisation of accounting resources for the most impact, understand connect, for the most part, from our homes and not as large groups in person, will be critical for the industry going forward. The paradox in the crisis is where to Everyone is learning how to use their time differently and harness new technologies in accelerate and where to pause – order to stay connected. Undoubtedly, even when the pandemic is over, working routines it requires a combination of both will be different as a result.

FUTURE INITIATIVES systems will require new and innovative tools where efficiencies can be made, and how to to provide deliverables almost overnight”. ignite new revenue channels. On new initiatives that are ready for roll-out Stephens delineates a number of Stephens’ thoughts on striking this balance in 2021 to streamline operations, business programmes, stating: “For 2021, one and on leadership challenges that she has referral and lead generation, Farlinger of our core objectives is to foster even faced sum up the forward-looking views confirms that Rethink will remain ETL’S greater collaboration on lead generation, voiced by many participants in this article. global framework and business model. as we leverage our business development She concludes: “In a crisis, ‘perform’ can He adds: “Despite continued focus on programme and share knowledge and quickly become ‘survive’, and that can instil digital acceleration and increased investments contacts in order to unlock new revenue fear and provoke knee-jerk reactions. Leaders in marketing technology, we remain a people streams. Following the appointment of our have been faced with their toughest ever business. Throughout the firms you will see global COO in the second half of 2020, leadership challenges. a continued focus on culture and purpose, much work is underway to streamline and “It is very easy to convince yourself ‘I and investment in our Advisers of the Future reimagine our business operations. have to act; I have to move forward,’ but project, making sure our people have the “In the fourth quarter of 2020 and running sometimes, in order to thrive and transform, right new skills to advise and support clients.” over the first half of 2021, we launched a one must slow down, recalibrate and Gorny concentrates on IT investment, global programme involving over 80 of our reimagine. The paradox in the crisis is where mentioning that initiatives include the leaders, collaboratively working together to to accelerate and where to pause – it requires implementation of central services for Reimagine Our Future and consider strategic a combination of both.”

24 | February 2021 | International Accounting Bulletin world survey | the big 4

tthehe bigbig 4

the big 4 – fee income

Total ($m) Americas Europe, ME, Africa vb-Ŋ-1bC1 Rank Name Growth Growth Growth 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ ;Ѵob; ƓƕķѵƏƏ ƓѵķƑƏƏ ƑƔķƒƏƏ ƑƓķƑƏƏ Ɣѷ ƐƔķƏƏƏ ƐƔķƏƏƏ Əѷ ƕķƔƏƏ ƕķƐƏƏ ѵѷ Ƒ ) ƓƒķƏƒƑ ƓƑķƓƓѶ ƐѶķƑѶѵ ƐƕķƕƖѶ ƒѷ ƐѵķѵƓƒ ƐѵķƕƏƏ Əѷ ѶķƐƏƒ ƕķƖƔƏ Ƒѷ ƒ +ŐƐő ƒƕķƑƏƏ ƒѵķƒƖƓ ƐƕķƑƏƏ ƐѵķƕƓѶ ƒѷ ƐƓķƑƏƏ ƐƓķƐƓƖ ƒѷ ƔķѶƏƏ ƔķƓƖƕ Ѷѷ Ɠ ƑƖķƑƑƏ ƑƖķƕƔƏ ƐƐķƑƑƏ ƐƐķƕƑƏ ŊƓѷ ƐƑķƕƓƏ ƐƑķѶƖƏ ŊƐѷ ƔķƑѵƏ ƔķƐƓƏ Ƒѷ

Total fee income/growth 157,052 154,792 72,006 70,466 2% 58,583 58,739 0% 26,663 25,687 4%

ŐƐő +vb-Ŋ-1bC17-|-bm1Ѵ7;v-r-mĺ Source:m|;um-ࢼom-Ѳ11omࢼm]ѲѲ;ࢼm

the big 4 – staff

Total ($m) Americas Europe, ME, Africa vb-Ŋ-1bC1 Rank Name Growth Growth Growth 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ ;Ѵob; ƒƒƓķѶƏƏ ƒƐƑķƏƑѶ ƐƓƖķƕѵƏ ƐƒƖķƓѶѶ ƕѷ ƐƏƖķƒƓƏ ƐƏƑķѵƐƓ ƕѷ ƕƔķƕƏƏ ѵƖķƖƑѵ Ѷѷ Ƒ +ŐƐő ƑƖѶķƖѵƔ ƑѶƓķƏƐѶ ƕƔķƖƔƐ ƕƔķƐƐƕ Ɛѷ ƐƐƕķƒƏѵ ƐƐƓķƑѵѵ ƒѷ ƔѶķƖѵƏ ƔѵķƒƔƒ Ɣѷ ƒ PwC ƑѶƓķƑƔѶ ƑƕѵķƏƏƔ ƕƑķƐƑƖ ƕƒķѶƏƐ ŊƑѷ ƐƑƐķƓƒƏ ƐƐƕķƖƏƓ ƒѷ ƖƏķѵƖƖ ѶƓķƒƏƏ Ѷѷ Ɠ ƑƑѵķѶѶƑ ƑƐƖķƑѶƐ ѵƓķѵƐƔ ѵƐķƐѵƖ ѵѷ ƐƐƓķƕƑƔ ƐƐƐķƖƒƕ Ƒѷ ƓƕķƔƓƑ ƓѵķƐƕƔ ƒѷ

Totals/growth 1,144,905 1,091,332 362,455 349,575 4% 462,801 446,721 4% 272,901 256,754 6%

ŐƐő +]Ѵo0-Ѵv|-@bm1Ѵ7;vƓѵķƕƓѶ=uolo|_;u]Ѵo0-Ѵ;mঞঞ;v=ouƑƏƑƏķ-m7ƒѶķƒѶƑ=ouƑƏƐƖĺvb-Ŋ-1bC17-|-bm1Ѵ7;v-r-mĺ Source:m|;um-ࢼom-Ѳ11omࢼm]ѲѲ;ࢼm

the big 4 – fee and staff

The Big 4 – fee income $_;b]Ɠŋv|-@

KPMG KPMG 18.6% ;Ѵob; 19.8% ;Ѵob; 30.3% 29.2%

EY 23.7% PwC 24.8% PwC EY 27.4% 26.1%

Source:m|;um-ࢼom-Ѳ11omࢼm]ѲѲ;ࢼm

www.internationalaccountingbulletin.com | 25 world survey | europe europe Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƒķƑƐƑĺƖ ѵѷ ƒƖ ƑƐ ƐƖ ƑƐ mĺ7 ";rŊƑƏ ѵ u-m|$_oum|omŖ ƐķƖƒƒĺƑ ƒѷ ƒѵ Ŋ Ɛƕ ƓƔ Ƒ ";rŊƑƏ ƕ $Ѵo0-ѴŐƐő ƐķƕƖƑĺѶ Ɠѵѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ѷ --uvŖŐƑő ƐķƓƔѵĺƕ Ɛƒѷ ƒƔ ƒѵ ƑƏ Ѷ Ɛ ]ŊƑƏ Ɩ ;b-m|;um-ঞom-ѴŖ ƐķƓƑƑĺƑ Ɩѷ ƑƓ ƐѶ Ƒƒ Ɛƒ ƑƑ mŊƑƏ ƐƏ Őƒő ƐķƒƖѵĺѵ ƑƏѷ ƑƏ Ƒƒ ƐƖ ƒƒ Ɣ ;1ŊƑƏ ƐƐ -h;u$bѴѴm|;um-ঞom-Ѵ ƐķƐƒƓĺѵ Ɣѷ Ƒѵ ƒƏ Ɛƕ ƐƔ ƐƑ ;1ŊƑƏ ƐƑ !" ƐķƏƓƐĺƖ Ɠѷ ƒƐ ƑƓ ƑƐ Ƒƒ Ɛ ;1ŊƑƏ Ɛƒ Crowe ƖƓƏĺƓ ѵѷ ƓƖ Ŋ Ƒƕ Ɛƒ ƐƐ ;1ŊƑƏ ƐƓ oou;Ѵo0-Ѵ ƕѵƏĺƔ Ɠѷ ƑƔ Ƒѵ ƐƖ ƐƑ ƐѶ ;1ŊƑƏ ƐƔ u;v|omm|;um-ঞom-Ѵ ƕƒƐĺѶ Ƒѷ ƒѵ Ƒƒ ƐƖ ƐƑ ƐƏ 1|ŊƑƏ Ɛѵ m|;um-ঞom-Ѵ ѵƐƔĺѶ ѵѷ ƒƏ Ƒѵ ƑƑ ƐƏ ƐƑ mŊƑƏ Ɛƕ ("m|;um-ঞom-ѴŖŐƒő ƒƕѶĺƒ Ɛƕѷ Ɛѵ Ƒƒ ƑѶ ƑƖ Ɠ ;1ŊƑƏ ƐѶ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƒƑƔĺƏ Ɩѷ ƑƑ ƒƓ Ɛѵ Ɛƕ ƐƐ ;1ŊƑƏ ƐƖ &+m|;um-ঞom-ѴŖ ƑƔѶĺƕ ŊƐѷ ƒƔ ƒƐ Ɛƕ Ɛƒ Ɠ -uŊƑƏ ƑƏ $"ŖŐƒő ƐѶƔĺѶ ƑƔѷ ƐƐ Ɣѵ ƑƏ Ɣ Ѷ ";rŊƑƏ ƑƐ " Ŗ ƐƕƐĺƏ Ɠѷ ƒƔ Ƒѵ ƑƐ ƐƔ ƒ $ŊƑƏ ƑƑ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƐƐƖĺƏ ŊƐƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ƒƒ u;mŖ ƐƐƑĺƕ Əѷ ƑƑ ƑƔ ƑѶ ƑƏ Ɠ ;1ŊƑƏ ƑƓ m;|ŖŐƒő ƖѵĺƑ ƓƖѷ ƐѶ ƒѵ ƐѶ ƐƑ Ɛѵ mŊƑƏ ƑƔ "_bm;)bm]m|;um-ঞom-ѴŖ ƔƕĺƖ ƐƔѷ ƒƏ ƐѶ ƑƔ ƒ ƑƓ ;1ŊƑƏ Ƒѵ !;-m7-m|;um-ঞom-ѴŖ ƓƐĺƐ ƐƏѷ Ƒѵ ƒƐ ƑƏ ѵ Ɛƕ ;1ŊƑƏ Ƒƕ bm r;uঞ-Ŗ ƑƕĺƐ Ɣѷ ƓƏ ƕ Ɛƕ ƐƏ Ƒѵ mŊƑƏ ƑѶ 7ovm|;um-ঞom-ѴŐƒő ƐѵĺƑ Ɣƒѷ ƑƑ ƓƑ ƐƔ Ѷ Ɛƒ ;1ŊƑƏ ƑƖ &ş"l;ub1- ƏĺƑ ŊƐƔѷ Ѷѵ Ŋ Ɩ Ɣ Ŋ ;1ŊƑƏ

Total revenue/growth 18,228.5 10%

26 | February 2021 | International Accounting Bulletin world survey | europe europe Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ ƑƕķƏƔƕ ƑѵķƓƓƐ Ƒѷ ƐķƕƔƓ ƐķƕƒѶ ƑƐķƔѶƖ ƑƏķƖƕƏ ƒķƕƐƓ ƒķƕƒƒ ƓƒѶ ƓƓƐ ѵ u-m|$_oum|omŖ ƐƕķƖƖƔ ƐƕķƔƓѶ ƒѷ ƐķƑƔƓ ƐķƐƕѶ ƐƓķƓƒƒ ƐƓķƏƒƔ ƑķƒƏѶ ƑķƒƒƔ ƑѵƓ ƑѵƐ ƕ $Ѵo0-Ѵ ƐѵķƖƖƏ ƖķƖƖƏ ƕƏѷ ƐķƔѶƏ ƐķƐƕƏ ƐƒķƐƕƏ ƕķƑƏƏ ƑķƑƓƏ ƐķѵƑƏ ƐķƑƔƏ mĺ7 Ѷ ƐƔķѶƖƔ ƐƐķѵƒƐ ƒƕѷ ƐķƐƑƐ ƐķƏѶƓ ƐƑķƕƔƐ ѶķƖƔƕ ƑķƏƑƒ ƐķƔƖƏ ƔƐƒ ƓƏƑ Ɩ --uvŖ ƐƑķƔѵƓ ƐƐķѵƒƔ Ѷѷ ƔƖƕ ƔѶƑ ƐƏķƓƐƓ ƖķѵƏƕ ƐķƔƔƒ ƐķƓƓѵ ƐƔƑ ƐƔƓ ƐƏ ;b-m|;um-ঞom-ѴŖ ƐƏķƖƔƖ ƐƏķѵƏƒ ƒѷ ƐķƏƕƖ ƐķƏѵƐ ƕķѵѵѵ ƕķƒѵƑ ƑķƑƐƓ ƑķƐѶƏ ƑѵƔ ƑѶƏ ƐƐ -h;u$bѴѴm|;um-ঞom-Ѵ ƐƏķƔƕƐ ƐƏķƔѵƔ Əѷ ƖƑƖ ƖѶƓ ƕķѶƔƓ ѶķƏƔƕ ƐķƕѶѶ ƐķƔƑƓ ƒƑƏ mĺ7 ƐƑ Crowe ƖķѵƓƕ ƖķƑƕƓ Ɠѷ ƐķƐƔƔ ƐķƏѶƕ ƕķƐƓƓ ѵķѶƕƒ ƐķƒƓѶ ƐķƒƐƓ ƒƐƔ ƑѶƐ Ɛƒ !" ƖķƔƓƖ ѶķƕƑƐ Ɩѷ ƖƏƒ ѶƓƑ ƕķƏƕѵ ѵķѵƕƐ ƐķƔƕƏ ƐķƑƏѶ ƐѶƑ ƐƖƔ ƐƓ u;v|omm|;um-ঞom-Ѵ ѶķƑƕƑ ѶķƕѵƏ Ŋѵѷ ƕƖƖ ѶƑѵ ѵķƓƐƕ ѵķƕƕѵ ƐķƏƔѵ ƐķƐƔѶ ƒƔѵ ƒƖƐ ƐƔ m|;um-ঞom-Ѵ ƕķƖƑƑ ƕķƒƒѶ Ѷѷ ƕƔƏ ѵƖƔ ƔķƖƓƐ ƔķƔƏƕ ƐķƑƒƐ ƐķƐƒѵ ƑƏƖ ƐƖƕ Ɛѵ oou;Ѵo0-Ѵ ƕķƐƏƕ ѵķƖѵƐ Ƒѷ ƕƐƒ ƕƏƑ ƔķƒѶƒ ƔķƑƓƐ ƐķƏƐƐ ƐķƏƐѶ ƑƐƑ ƑƑƒ Ɛƕ ("m|;um-ঞom-ѴŖ ƓķƐѵƔ ƒķѵƕƑ Ɛƒѷ Ɠƕѵ ƓƑѶ ƒķƐƏƒ ƑķƕƔƕ ƔѶѵ ƓѶƕ ƐƖѵ ƐѶѶ !vv;ѴѴ;7=ou7 ƐѶ ƒķƑƕƓ ƒķƏƑƐ Ѷѷ ƒƔƖ ƒƒƕ ƑķƓѵƔ ƑķƒƏƐ ƓƔƏ ƒѶƒ ƑƐƏ ƑƏƔ m|;um-ঞom-ѴŖ ƐƖ &+m|;um-ঞom-ѴŖ ƑķѶƑƒ ƑķѶѶƐ ŊƑѷ ƒƔѶ ƒƕƏ ƑķƏƖƕ ƑķƏƑƓ ƒѵѶ ƓѶƕ ƐƓƓ ƐƔƔ ƑƏ " ŖŐƐő ƑķƐѶƏ ƐķƖƐƕ ƐƓѷ ƑѶƏ ƑƔƔ ƐķƔѵƏ ƐƑѵƔ ƒƓƏ ƒƖƕ Ѷƕ ƕѶ ƑƐ $"Ŗ ƑķƐƓƒ ƐķѶƑƒ ƐѶѷ ƐѶƔ ƐѵƏ ƐķѵƖƔ ƐķƓѵƑ Ƒѵƒ ƑƏƐ ƐѵƑ ƐƓƏ ƑƑ u;mŖ ƐķƑƑƔ ƐķƑƔƕ Ŋƒѷ ƐƖѵ ƐƖƖ ƖƓƕ ƖѶƒ ѶƑ ƕƔ ƒƑ ƒƑ Ƒƒ bm r;uঞ-Ŗ ƐķƏƑƖ ƐķƏƕƓ ŊƓѷ ƕƐ ƕƐ ѶƐƏ ѶƐѶ ƐƓѶ ƐѶƔ ƑƔ ƑƔ ƑƓ m;|Ŗ ƐķƏƑƒ ƕƓƒ ƒѶѷ ƐƒƖ ƐƐѵ ƕѵƐ ƔƑƕ ƐƑƒ ƐƏƏ ѵƕ Ɣƒ Parker Russell ƑƔ ѶƔƐ ƖƔƑ ŊƐƐѷ ƐƑƏ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ƕƏ mĺ7 m|;um-ঞom-ѴŖ Ƒѵ !;-m7-m|;um-ঞom-ѴŐƐő ƕƔѵ ѵƒƖ ƐѶѷ ƕƒ ѵƔ ƔƕƑ ƓƕƓ ƐƐƐ ƐƏƏ Ɣƒ Ɠƕ Ƒƕ "_bm;)bm]m|;um-ঞom-ѴŖ ƔƓƏ ƓƕƐ ƐƔѷ ƔƖ ƓѶ ƒƔƏ ƒƑѶ ƐƒƐ ƖƔ ƑƑ ƑƓ ƑѶ 7ovm|;um-ঞom-Ѵ ƒƏƐ ƐѶƐ ѵѵѷ Ɠѵ ƒƓ Ƒƒƒ ƐƑƔ ƑƑ ƑƑ Ɛѵ ƐƐ ƑƖ &ş"l;ub1- ƐƔ ƑƔ ŊƓƏѷ Ɛ Ƒ ƐƑ ƑƏ ƑƒƐƐ

$o|-Ѵv|-@ņ]uo|_ 174,853 158,123 11% 14,997 14,034 134,443 120,340 24,682 22,797 5,561 3,784

www.internationalaccountingbulletin.com | 27 world survey | europe europe associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ u-b|Ŗ ƐķѶƑƒĺƒ ƐƐѷ ƒƑ ƒƓ ƑƓ Ѷ Ƒ ;1ŊƑƏ Ƒ ŖŐƐő ƐķƔƖƔĺѶ ƕѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ ƒ ѴѴbmb-ѴѴo0-ѴŖ ƐķƓƕƒĺƑ ŊѶѷ ƒƓ ƑƐ ƑƔ ƐƔ Ɣ ;1ŊƑƏ Ɠ Ŗ ƐķƏƏƓĺƕ Ɣѷ Ѷ ƓƐ Ɛƒ ƒƔ Ƒ ;1ŊƑƏ Ɣ ubl;Ѵo0-ѴŖ ƖƐƔĺƏ ѵѷ ƑƓ ƒƐ ƑƐ ƐƓ ƐƏ -ŊƑƏ ѵ !m|;um-ঞom-ѴŖŐƑő ѶƐƓĺƖ Ɛѵѷ Ƒѵ ƒƓ ƐƖ Ѷ Ɛƒ mŊƑƏ ƕ m|;um-ঞom-ѴŖ ѵƑƒĺƔ Ɣѷ ƑƏ ƒƏ Ɛƕ ƑƑ ƐƐ ;1ŊƑƏ Ѷ uorŖ ƔƏƐĺƑ Ѷѷ ƑƔ ƑƔ ƑƔ ƑƑ Ɠ ;1ŊƑƏ Ɩ m|;um-ঞom-ѴŖ ƓƔƖĺƑ ƕѷ Ɛƕ ƒѵ ƑƐ Ɛƒ Ɛƒ ;1ŊƑƏ ƐƏ "Ѵo0-ѴѴѴb-m1;Ŗ ƓƑƕĺƏ ƐƏѷ ƐѶ ƓƏ Ɛƕ Ɛѵ Ɩ ;1ŊƑƏ ƐƐ )ouѴ7b7;b|_ ƒƕƔĺƔ Əѷ ƑƓ ƒƔ Ƒƒ Ɩ Ɩ ;1ŊƑƏ ƐƑ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƒѵƐĺƏ ŊƐƔѷ ƑƖ ƑƓ Ƒƒ ƑƑ Ƒ ;1ŊƑƏ Ɛƒ oubvom"bŖ ƒƓƔĺƐ ƐƏѷ ƐƖ ƒѵ Ƒƒ ƕ ƐƔ ;1ŊƐƖ ƐƓ m|;-Ŗ ƑƒƔĺƒ ƐƏѷ ƑƑ ƑƔ ƑƓ ƑƑ ƕ ;1ŊƑƏ ƐƔ m|;um-ঞom-ѴŖ ƑƏƔĺѵ Ɣѷ ƐѶ ƓƑ ƑƏ ƐƏ ƐƏ ";rŊƑƏ Ɛѵ m|;]u-m|;um-ঞom-ѴŐƒő Ɛƕѵĺѵ Ɛƒѷ ƑƏ ƑƔ ƒƏ ƑƏ Ɣ ;1ŊƑƏ Ɛƕ mr-1|Ŗ ƐƐѶĺƓ ƒѷ Ƒƕ ƒƑ ƑƓ Ɛƒ Ɠ ;1ŊƐƖ ƐѶ m|;um-ঞom-ѴŖŐƓő ƐƏƔĺƏ ƑƑѷ ƓƖ Ƒƕ ƐƔ Ɠ Ɣ ;1ŊƑƏ ƐƖ "m|;um-ঞom-ѴŖŐƒő ƖƑĺƒ ƕƒѷ ƐƔ ƒѵ ƐƑ ƒƐ ѵ ;1ŊƐƖ ƑƏ 0-1v)ouѴ7b7;ŖŐƔő ѵƖĺƏ ƐƒѶѷ ƒƑ Ƒƒ Ƒƒ ƐƑ ƐƏ ;1ŊƑƏ ƑƐ -bmѴo0-ѴŖŐƒő ѶĺƖ ƑѶѷ Ɛƕ ƓƏ ƒƕ Ƒ Ɠ ;1ŊƑƏ ƑƑ &ş"Ѵo0-Ѵ ƒĺƏ ŊƐƏѷ ƒƔ Ŋ ѵƑ ƒ Ŋ ;1ŊƑƏ

Total revenue/growth 11,733.5 6%

28 | February 2021 | International Accounting Bulletin world survey | europe europe associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|Ŗ ƐƔķƖƔƑ ƐƔķƓƐƑ Ɠѷ ѶƔƖ ƖѵƐ ƐƑķƖƔƑ ƐƑķƒƓƔ ƑķƐƓƐ ƑķƐƏѵ ƑƓƓ ƑƔƔ Ƒ ŖŐƐő ƐƐķѶƐƐ ƐƐķƏƏƑ ƕѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ƒ ŖŐƑő ƐƏķƑƑƓ ѶķƐƑѵ Ƒѵѷ Ѷƒѵ ƕƑƑ ƕķƏѵƐ ƔķƐƓƐ ƑķƒƑƕ ƑķƑѵƒ ƑƏѶ ƑƏƒ Ɠ ubl;Ѵo0-ѴŖ ƖķƏƖƒ ѶķƕƖƖ ƒѷ ƕƕƓ ѶѶƓ ƕķƐƐƒ ѵķѵƖƏ ƐķƑƏѵ ƐķƑƑƔ ƓƏѵ ƒƖѶ Ɣ ѴѴbmb-ѴѴo0-ѴŖŐƑő ѶķƒƖƔ ƕķѵƒƑ ƐƏѷ ƐķƓƓƖ ƐķƒƓѵ ѵķƏƕƒ ƔķƒƔѶ Ѷƕƒ ƖƑѶ ƐѵƐ ƐƓƑ ѵ !m|;um-ঞom-ѴŖ ƕķƓƐƕ ѵķѶƐƒ Ɩѷ ѵƏƒ ƔƑƖ ѵķƒƑƒ ƔķѵƖƒ ƓƖƐ ƔƖƐ ƒѶƐ ƒƑѶ ƕ m|;um-ঞom-ѴŖ ƔķƑѵƓ ƔķƐƔѶ Ƒѷ ƔѶƓ Ɣƕƒ ƓķѵѶƏ ƓķƔѶƔ Ŋ Ŋ ƑƑƖ ƑƒƏ Ѷ "Ѵo0-ѴѴѴb-m1;Ŗ ƓķƔѵѶ ƒķƕƒѶ ƑƑѷ Ɠƒƒ ƓƓƑ ƒķѵƓƔ ƑķѶƕƑ ƓƖƏ ƓƑƓ ѵƔ ѵƔ Ɩ m|;um-ঞom-Ѵ ƓķƒƒƑ ƓķƒƖƐ ŊƐѷ ƓѵƐ ƓѶƑ ƒķƑƖƕ ƒķƑƑƏ ƔƕƓ ѵѶƖ ƐѵƔ ƐƕѶ )ouѴ7b7;b|_ ƐƏ ƓķƏƏƐ ƒķƖѶѵ Əѷ ƓƕƑ mĺ7 ƑķƖƒƐ mĺ7 ƔƖѶ mĺ7 ƐѶƒ mĺ7 Őƒő ƐƐ uorŖ ƒķƕƕƐ ƒķѶƓƏ ŊƑѷ ƔƑƔ Ɣƒѵ ƑķѶƒƑ ƑķѶƖƏ ƓƐƓ ƓƐƓ ƐƏƓ ƐƏѶ ƐƑ oubvom"bŖŐƑő ƒķƓѶƒ ƑķƔƑƑ ƒѶѷ ƒѶƏ ƒƑƐ ƑķƒƓƒ ƐķƕƐƒ ƕѵƏ ƓѶѶ ƐƑѶ ƖƐ Ѵo0-Ѵņ;-7bm] 7]; Ɛƒ ƒķƒѶƐ ƒķƒѶƕ Əѷ ƑƒƓ mĺ7 ƑķƔѵѶ mĺ7 ƔƕƖ mĺ7 ƖƏ ƐƐƕ ѴѴb-m1;Ŗ ƐƓ m|;-Ŗ ƑķѵƑƒ ƑķƔƒƓ Ɠѷ ƒƖƕ ƒƔƒ ƐķƖƔѵ ƐķƖƓƖ ƑƕƏ ƑƒƑ ƐƑƐ ƐƏѶ ƐƔ m|;]u-m|;um-ঞom-Ѵ ƑķƑƖƖ ƑķƏƐƐ ƐƓѷ ƐƖѶ ƐƕƑ ƐķѶƐƔ ƐķƔƕƓ ƑѶѵ ƑѵƔ ѵѶ ѵƓ Ɛѵ m|;um-ঞom-ѴŖ ƐķƖƔƐ ƐķѶƖƖ ƒѷ Ɛƕѵ ƐƔƕ ƐķƔƐƑ ƐķƓƕƐ Ƒѵƒ ƑƕƐ ѶѶ ƖƏ Ɛƕ mr-1|Ŗ ƐķƑƏƕ ƐķƑƏƑ Əѷ ƐѶƖ ƐѶƕ Ѷƕƕ ѶƕѶ ƐƓƐ Ɛƒƕ ƐƏƐ Ɩѵ ƐѶ m|;um-ঞom-ѴŖ ƐķƏѶƐ ƐķƏƕƑ Ɛѷ ѵƖ ƐƑƒ ѶƑƕ ƕƖƔ ƐѶƔ ƐƔƓ ѵѶ ƑƒƓ ƐƖ "m|;um-ঞom-ѴŖ ƐķƏƔƐ ѵƒƓ ѵѵѷ ƐƔѶ Ѷѵ ƕƒƐ Ɠѵƒ ƐѵƑ ѶƔ ƕƓ ƔƓ ƑƏ 0-1v)ouѴ7b7;Ŗ ƕƓѶ ƒƐѵ Ɛƒƕѷ Ɩƕ ƓƔ ƑѶƒ ƑƏƔ ƒѵѶ ѵѵ Ɠƒ ƐƔ ƑƐ -bmѴo0-ѴŖ ƐƏƒ ѶƐ Ƒƕѷ ƐƏ ѵ ѶƏ ѵƖ Ɛƒ ѵ ƕ Ɠ ƑƑ &ş"Ѵo0-Ѵ ƕƓ ƕƓ Əѷ Ɛƕ ƐƓ ƓѶ ƓѶ Ɩ ƐƑ Ѷ ƕ

$o|-Ѵv|-@ņ]uo|_ 102,829 94,629 9% 8,921 7,939 69,947 57,959 12,150 10,356 2,942 2,787

www.internationalaccountingbulletin.com | 29 world survey | north america

north america Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƔķƑƑƔĺƓ Ѷѷ ƒѶ ƕ ƒƑ Ƒƒ Ŋ ";rŊƑƏ ѵ !"ŐƐő ƓķƑѶƒĺѵ ƐƏѷ ƒѶ Ŋ ƒƕ ƑƓ Ɛ ;1ŊƑƏ ƕ u-m|$_oum|omŖ ƑķƓƓƖĺƕ Ɛѷ ƒѶ Ŋ Ƒѵ ƒѵ Ŋ ";rŊƑƏ Ѷ ;b-m|;um-ঞom-ѴŖ ƑķƒƑѶĺƑ Ɣѷ ƒѵ Ɛѵ ƒƒ Ɩ ѵ mŊƑƏ Ɩ Crowe ƑķƑƓƑĺƏ ƒѷ ƒѵ Ŋ ƓƏ ƐѶ ѵ ;1ŊƑƏ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƐķѶѵѵĺƑ ѵѷ ƒƑ ѵ ƒƕ ƑƐ Ɠ ;1ŊƑƏ ƐƐ oou;Ѵo0-Ѵ ƐķѵѵƏĺƖ Ѷѷ Ƒѵ Ɩ ƓƔ ƐƓ ѵ ;1ŊƑƏ ƐƑ ƐķƑƒƔĺƓ ƐƐѷ ƒƐ ѵ ƒѶ ƑƓ Ɛ ;1ŊƑƏ Ɛƒ u;v|omm|;um-ঞom-Ѵ ƐķƏƕƏĺƕ Ɛѷ ƑƖ Ŋ ƒƓ Ƒƒ ƐƓ 1|ŊƑƏ ƐƓ m|;um-ঞom-ѴŐƑő ƒƒƒĺƕ ŊƐƕѷ Ɠƕ Ƒ ƓƐ ѵ Ɠ mŊƑƏ ƐƔ --uvŖ ƑƓѵĺѵ Ѷѷ ƒƔ ѵ ƒƕ ƑƑ Ŋ ]ŊƑƏ Ɛѵ &+m|;um-ঞom-ѴŖ ƐѶƓĺƖ Ɛƒѷ ƐƔ ƐƑ Ƒƕ Ƒƒ Ƒƒ -uŊƑƏ Ɛƕ " Ŗ ƐƑƑĺƏ ŊƐѶѷ ƒƔ ƑƑ ƑƔ ƐƑ ѵ 1|ŊƑƏ ƐѶ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƐƐƖĺƖ Ƒѷ Ƒƒ ƒƑ ƒƕ ƕ Ɛ ;1ŊƑƏ ƐƖ $"Ŗ ƐƔĺƔ Ɠѷ Ɛѵ ƑƔ Ɠѵ Ɣ Ѷ ";rŊƑƏ ƑƏ ("m|;um-ঞom-ѴŖŐƒő ƐƐĺƑ ƐƓѷ ƑƑ ѵѵ ƐƐ Ɛ Ŋ ;1ŊƑƏ ƑƐ &ş"l;ub1- ѶĺƏ ƐƔѷ ƓƏ Ŋ ƒƏ ƒƏ Ŋ ;1ŊƑƏ ƑƑ ""-ঞmo-l;ub1-Ŗ ƑĺƑ Ѷѷ ƒ ƒѵ ƔѶ ƒ Ŋ ;1ŊƑƏ Ƒƒ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƑĺƐ Əѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ ƑƓ !;-m7-m|;um-ঞom-Ѵ ƏĺƖ mĺ-r Ɣ ƒ ƑƖ ƓѶ ƐƔ ;1ŊƑƏ ƑƔ m;|Ŗ Əĺƕ Ɛѵѷ Ŋ ƐƏ ƕѶ ƐƏ Ƒ mŊƑƏ

Total revenue/growth 23,409.9 6%

30 | February 2021 | International Accounting Bulletin world survey | north america

north america Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ ƒƐķƑƓƐ ƑƖķƐƖƏ ƕѷ ƒķƔƒƐ ƒķƓƑƑ ƑƑķƐƑѶ ƑƏķƓƐƖ ƔķƔѶƑ ƔķƒƓƖ ƖƒѶ ѶƖѵ ѵ !" ƑƏķƖƔƓ ƐѶķƖƖƏ ƐƏѷ ƑķƐѵƖ ƑķƏƖƓ ƐƔķƓƏƐ ƐƒķƕƓƕ ƒķƒѶƓ ƒķƐƓƖ ƒƖƏ ƒƕƔ ƕ u-m|$_oum|omŖ ƐƒķƔƏƓ ƐƒķƕƐƒ ŊƑѷ ƐķƏƏƔ ƐķƏƒƐ ƐƏķƒƏƒ Ɩķѵƕƕ ƑķƐƖѵ ƒķƏƏƔ ƑƕƓ ƑѵƐ Ѷ ;b-m|;um-ঞom-ѴŖ ƐƐķƒѶƒ ƐƐķƔƔƓ ŊƐѷ ƐķƒƓƓ Ɛķƒѵƕ ѶķƒƓƖ ѶķƓƏƔ ƐķѵƖƏ ƐķƕѶƑ ƐƖƕ ƑƏƏ Ɩ Crowe ƐƏķƐƑƕ ƖķƔѶѵ ѵѷ ƐķƓƑƑ ƐķƑƔѵ ƕķƒƏƏ ѵķѶƑƏ ƐķƓƏƔ ƐķƔƐƏ ƔƖ ƔƔ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƖķƐƑѵ ѶķƖƔƔ Ƒѷ ƐķƐƏƏ ƐķƏƓƔ ѵķƑƖƖ ѵķƐƖƔ ƐķƕƑƕ ƐķƕƐƔ ƐѵƏ mĺ7 ƐƐ oou;Ѵo0-Ѵ ƕķƔƏƑ ƕķƑƏƑ Ɠѷ ƐķƏƕѶ ƐķƏƓƖ ƔķƐѵƐ ƓķƖƏƏ ƐķƑѵƒ ƐķƑƔƒ ƐƒƐ ƐƑƒ ƐƑ ŐƐő ƔķƔѶƑ ƓķƕѶƏ Ɛƕѷ ƕƐѵ ƔƖƔ ƓķƏƑƐ ƒķƔƖѵ ѶƓƔ ƔѶƖ Ɩƕ ѶƑ Ɛƒ u;v|omm|;um-ঞom-Ѵ ƓķƐƏѶ ƓķƏѵƐ Ɛѷ ƓѶƒ Ɠƕѵ ƒķƏƓƓ ƑķƖѶƑ ƔѶƐ ѵƏƒ ƑƖ ƑƖ ƐƓ " Ŗ ƒķƏƏѵ ƒķƑƖƏ ŊƖѷ ƐƔѵ ƐƓƑ ƑķƔѶƏ ƑķƖƐѶ ƑƕƏ ƑƒƏ ƔѶ ƔƓ ƐƔ m|;um-ঞom-Ѵ ƐķƔѶƏ ƐķѶƐƏ ŊƐƒѷ ƑƖƕ ƒƐƒ ƐķƏƓƓ ƐķƑƑƖ ƑƒƖ ƑѵѶ ƒƓ ƒƕ Ɛѵ --uvŖ ƐķƏƓƓ ƐķƏƒƒ Ɛѷ ƖƑ ƖƏ ƕѶƒ ƕƕƑ ƐѵƖ ƐƕƏ Ɛƒ ƐƑ Ɛƕ &+m|;um-ঞom-ѴŖ ƐķƏƑƐ Ѷƕƕ Ɛѵѷ ƐƏѵ ƐƏƏ ƕƒѶ ѵƐƕ Ɛƕƕ ƐѵƏ Ƒѵ ƑƐ !vv;ѴѴ;7=ou7 ƐѶ ƕƑƖ ƕƏƔ ƒѷ Ɛƒƕ ƐƐƖ Ɠƕƒ Ɠѵƒ ƐƐƖ ƐƑƒ ƑƐ ƑƓ m|;um-ঞom-ѴŖ ƐƖ $"Ŗ ƐƑƐ ƐƐƑ Ѷѷ Ɛѵ ƐѶ ƕѶ ѵƕ Ƒƕ Ƒƕ Ɠ Ɠ ƑƏ ("m|;um-ঞom-ѴŖŐƑő Ѷƒ Ѷƕ ŊƔѷ ƐƏ ƐƏ ƔƖ ѵƓ ƐƓ Ɛƒ Ɛ Ɛ ƑƐ &ş"l;ub1- Ɣƒ Ɣѵ ŊƔѷ ƐƑ ƐƑ ƒƓ ƒѵ ƕѶѶѶ Parker Russell ƑƑ ƒƏ ƒƏ Əѷ Ɣ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 m|;um-ঞom-ѴŖ Ƒƒ ""-ঞmo-l;ub1-Ŗ ƐƔ ƐƔ Əѷ Ƒ Ƒ ƐƐ ƐƐ ƑƑƐƐ ƑƓ m;|Ŗ ƕ Ѷ ŊƐƒѷ ƐƐƔƔƐƑƐƐ ƑƔ !;-m7-m|;um-ঞom-Ѵ Ɠ mĺ-r mĺ-r Ɛ mĺ-r ƒ mĺ-r Ŋ Ŋ Ƒ mĺ-r

$o|-Ѵv|-@ņ]uo|_ 121,220 116,054 4% 13,683 13,142 87,814 82,923 19,698 19,958 2,444 2,184

www.internationalaccountingbulletin.com | 31 world survey | north america

north america associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ u-b|Ŗ ƒķѶƔƕĺƕ ƕѷ ƒƓ ƕ ƒƑ ƑƓ ƒ ;1ŊƑƏ Ƒ ѴѴbmb-ѴѴo0-ѴŖ ƑķƒƑƓĺƕ Ɣѷ ƒƑ ƑƐ Ƒѵ Ɛѵ Ɣ ;1ŊƑƏ ƒ ubl;Ѵo0-ѴŖŐƐő ƐķѶƑѵĺƏ ƐƓѷ ƒƕ Ŋ ƓѶ Ɠ ƐƐ -ŊƑƏ Ɠ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;ŖŐƑő ƐķƓƔƑĺƖ ŊƒѶѷ ƒѵ ѵ ƓƐ ƐƏ ƕ ;1ŊƑƏ Ɣ ŖŐƒő ѶƖƕĺƓ ƐƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ ѵ m|;um-ঞom-Ѵ ѶƐƏĺƖ ѵѷ ƒƑ Ѷ ƒƖ ƐƓ ƕ ;1ŊƑƏ ƕ !m|;um-ঞom-ѴŖ ƔƖƔĺƖ Əѷ ƑƖ Ɛѵ Ɠƒ ƕ Ɣ mŊƑƏ Ѷ m|;um-ঞom-ѴŖ ƔƕƖĺƐ Ɛѷ Ƒƒ ƐƓ ƔƑ ƐƐ Ɛ ;1ŊƑƏ Ɩ oubvom"bŖ ƒƖƒĺƒ Ɠѷ Ƒѵ ƐƑ ƔƐ Ɣ ѵ ;1ŊƐƖ ƐƏ m|;]u-m|;um-ঞom-Ѵ ƒƕƓĺƓ Ƒѷ ƑƏ ƑƏ ƒƔ ƑƏ Ɣ ;1ŊƑƏ ƐƐ "Ѵo0-ѴѴѴb-m1;Ŗ ƑƕѵĺѶ Ɩѷ ƒƓ ƐƏ Ɠƒ ƐƏ ƒ ;1ŊƑƏ ƐƑ )ouѴ7b7;b|_ ƑƓƔĺƕ Ɠѷ ƑƓ ƐƓ Ɠƒ ƐƓ Ɣ ;1ŊƑƏ Ɛƒ ŖŐƑő ƐƕѶĺƔ ŊƐƏѷ ƑƏ ƑƑ Ƒƒ ƒƐ Ɣ ;1ŊƑƏ ƐƓ 0-1v)ouѴ7b7;ŖŐƓő ƐƓƏĺƏ Ɛƒƒѷ Ƒѵ ƐƖ ƒƖ Ɛƒ ƒ ;1ŊƑƏ ƐƔ mr-1|Ŗ ƐƏƒĺƒ Ƒѷ ƒѵ Ɩ ƓѶ Ɣ Ƒ ;1ŊƐƖ Ɛѵ uorŖŐƔő ƔƓĺƑ ƑƐѷ ƑѶ ƐƓ ƓƑ ƐƔ Ɛ ;1ŊƑƏ Ɛƕ m|;um-ঞom-ѴŖŐѵő ƒƓĺƖ ŊƑƒѷ ƑƔ Ɛƕ Ɠƕ ƕ Ɠ ";rŊƑƏ ƐѶ "m|;um-ঞom-ѴŖŐƐő Ƒƕĺƕ ѶƑѷ Ƒƕ ƐƔ ƒƖ Ɛѵ ƒ ;1ŊƐƖ ƐƖ m|;-Ŗ ƐƖĺƔ ƐƐѷ Ѷƕ ƒ ƐƏ Ŋ Ŋ ;1ŊƑƏ ƑƏ m|;um-ঞom-ѴŐƐő ƐƒĺƓ ƒƖѵѷ Ɩ ƓƓ ƓƏ Ɣ Ƒ ;1ŊƑƏ ƑƐ &ş"Ѵo0-Ѵ ѶĺƐ Ɛѵѷ ƓƏ Ŋ ƒƏ ƒƏ Ŋ ;1ŊƑƏ ƑƑ -bmѴo0-ѴŖŐƐő ƔĺƏ Ѷƒѷ ƐѶ ƑƑ ƒƕ ƐƖ Ɠ ;1ŊƑƏ

Total revenue/growth 14,219.3 0%

32 | February 2021 | International Accounting Bulletin world survey | north america

north america associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|Ŗ ƐѶķѶƐƐ ƐѶķƐƖƓ ƒѷ ƑķƑƔƑ ƑķƐƖƓ ƐƒķƏƐƔ ƐƑķƔƖƖ ƒķƔƓƓ ƒķƓƏƐ ƑƐѶ ƑƑѶ Ƒ ѴѴbmb-ѴѴo0-ѴŖŐƐő ƐѵķƕƖƔ ƐƓķƖѶƕ ƐƑѷ ƒķƑѵѵ ƑķƖƏƕ ƐƏķƖƓƖ Ɩķƕƕѵ ƑķƔѶƏ ƑķƒƏƓ ƑѶѵ ƑƓƒ ƒ ubl;Ѵo0-ѴŖ ƖķѵƒƔ ѶķƒƓƑ ƐƔѷ ѶƕƔ ѶƑƑ ƕķƏѵƖ ѵķƐѶƑ ƐķѵƖƐ ƐķƒƒѶ Ƒƒƒ ƐƖƕ Ɠ ŖŐƑő ѵķѵƓƑ ƔķƖƓƐ ƐƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 Ѵo0-Ѵņ;-7bm] 7]; Ɣ ѵķƑƓѵ ƐƏķƒƒƖ ŊƓƏѷ ѶƕƑ ƐķƒƔƑ ƓķƑƕƒ ѵķƖƏƔ ƐķƐƏƐ ƑķƏѶƑ ƐƏƏ ƑƏѵ ѴѴb-m1;Ŗ ѵ m|;um-ঞom-ѴŖ ƔķѵƒƔ ƔķƕƓƒ ŊƑѷ ƓѵƖ ƓƕѶ ƔķƐѵѵ ƔķƑѵƔ Ŋ Ŋ ƐƑƏ ƐƑѵ ƕ m|;um-ঞom-Ѵ ƒķѶƕƓ ƓķƏƑƏ ŊƓѷ ƓƕƏ ƓƖƔ ƑķѶѵƔ ƑķƖƏƖ ƔƒƖ ѵƐѵ ƖƏ ƖѶ Ѷ !m|;um-ঞom-ѴŖ ƒķƔƓѵ ƒķƔƒƕ Əѷ ƓƒѶ Ɠƒѵ ƑķƕƑƔ ƑķƕƐƕ ƒѶƒ ƒѶƓ ƖƐ ƖƐ Ɩ oubvom"bŖ ƐķƖѶƏ ƐķƖƔƏ Ƒѷ ƑƕƏ ƑѵƐ ƐķƓƏƖ Ɛķƒƕƕ ƒƏƐ ƒƐƑ Ɠƒ ƓƑ )ouѴ7b7;b|_ ƐƏ ƐķƕƐƖ ƑķѵƒѶ ŊƒƔѷ ƑƑƔ mĺ7 ƐķƑƔƑ mĺ7 ƑƓƑ mĺ7 ƔƐ mĺ7 Őƒő ƐƐ m|;]u-m|;um-ঞom-Ѵ ƐķƔƖƏ ƐķƔƖƐ Əѷ ƐƔƔ Ɛѵƒ ƐķƒƏѶ ƐķƑƖƏ ƐƑƕ ƐƒѶ ƒƔ ƒѵ ƐƑ "Ѵo0-ѴѴѴb-m1;Ŗ ƐķƔƑѶ ƐķƔѶѶ ŊƓѷ ƑƓƏ ƑƓƓ ƐķƏƕѵ ƐķƐƏƓ ƑƐƑ ƑƓƏ ƒƒ ƒƓ Ɛƒ 0-1v)ouѴ7b7;Ŗ ƖƑƖ Ɠƒƒ ƐƐƔѷ ƐƏƕ ƓƔ ƔƏƏ ƒƒƓ ƒƑƑ ƔƓ ƑѶ ƐƑ ƐƓ Ŗ ѶƕƔ ƖƓƖ ŊѶѷ ƐƐƒ ƐƒƐ ƓƏƒ ƓƓѶ ƒƔƖ ƒƕƏ ƒƒ ƒƕ ƐƔ mr-1|Ŗ ѵƐѶ ѵƏƏ ƒѷ ƐƑƓ ƐƑƓ ƒƕѶ ƒѵƖ ƐƐƕ ƐƏƕ ƒƔ ƒƒ Ɛѵ uorŖ ƒƖƕ ƒѵƑ ƐƏѷ ƔƏ ƓѶ ƑѶƏ ƑƔƑ ѵƕ ѵƑ Ѷ Ѷ Ɛƕ m|;um-ঞom-ѴŖ ƑƓѶ ƒƏƓ ŊƐѶѷ ƓƑ ѵƏ ƐѵƔ ƐѶѵ ƓƐ ƔѶ ƐƐ ƐƔ ƐѶ "m|;um-ঞom-ѴŖ ƐƓƕ ƖƔ ƔƔѷ ƒƐ ƐѶ ƖѶ ѵѶ ƐѶ Ɩ ѵ Ɠ ƐƖm|;-Ŗ ƐƏƑƖѶƓѷƐƏƖѶѶѶƔƓƓƕѶ ƑƏ &ş"Ѵo0-Ѵ Ɣƒ Ɣѵ ŊƔѷ ƐƑ ƐƑ ƒƓ ƒѵ ƕѶѶѶ ƑƐ m|;um-ঞom-Ѵ ƓѶ Ɛƕ ƐѶƑѷ ƕ Ɠ ƒƔ ƐƐ ѵƑƖƔ ƑƑ -bmѴo0-ѴŖ ƒѶ ƒƏ Ƒƕѷ ѵ ƒ Ƒѵ ƑƑ ѵƔƕѵ

$o|-Ѵv|-@ņ]uo|_ 81,456 81,814 0% 10,034 9,806 53,113 51,935 11,667 11,494 1,452 1,437

www.internationalaccountingbulletin.com | 33 world survey | latin america

latin america Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƑƒƓĺƐ Ŋƕѷ ƓѶ ƑƑ ƐƔ ƐƔ Ŋ ";rŊƑƏ ѵ u-m|$_oum|omŖ ƐѵѶĺƖ ŊѶѷ ƔƐ Ŋ Ƒƒ ƑƓ Ƒ ";rŊƑƏ ƕ " ŖŐƐő ƐƒƑĺƏ ƑƔѷ Ƒƒ ƒƏ ƑƔ ƐѶ Ɠ 1|ŊƑƏ Ѷ !" ƐƐƐĺƏ ŊƐƑѷ ƒѵ ƒƔ ƐѶ ƐƐ Ŋ ;1ŊƑƏ Ɩ -h;u$bѴѴm|;um-ঞom-Ѵ ƐƏƑĺƑ Ŋƒѷ Ɠƒ Ɛѵ ƐѶ Ѷ ƐƔ ;1ŊƑƏ ƐƏ &ş"l;ub1-ŐƑő ƐƏƏĺƐ ŊƑѶѷ ƐƏ Ŋ ƕƑ ƐѶ Ŋ ;1ŊƑƏ ƐƐ Crowe ƖƓĺƒ ŊƐƒѷ ѵƓ Ŋ ƑƏ Ɩ ƕ ;1ŊƑƏ ƐƑ ƕѶĺƖ ŊƑѷ ƑƔ Ƒƕ ƑƏ ƑƔ ƒ ;1ŊƑƏ Ɛƒ ""-ঞmo-l;ub1-ŖŐƒő ѵѶĺѶ ŊƐƏѷ ƒƒ Ɛѵ ƒƏ ƐѶ Ɣ ;1ŊƑƏ ƐƓ oou;Ѵo0-Ѵ ѵƔĺƑ Ŋƒѷ ƓƑ ƐѶ Ɛѵ Ѷ Ɛѵ ;1ŊƑƏ ƐƔ --uvŖ ƔƒĺƏ ŊƐѷ ƒѶ ƓƔ Ѷ Ѷ Ɛ ]ŊƑƏ Ɛѵ ;b-m|;um-ঞom-ѴŖ ƓƖĺƓ ѵѷ ƒƕ ƑƓ Ɛƒ Ƒƒ ƒ mŊƑƏ Ɛƕ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖŐƐő ƓƐĺƏ ƑƐѷ ƒƒ ƑƐ ƑƏ ƐƏ Ɛѵ ;1ŊƑƏ ƐѶ m|;um-ঞom-Ѵ ƓƏĺƑ ŊƐƐѷ ѵƏ ƐƑ Ɩ ѵ Ɛƒ mŊƑƏ ƐƖ u;v|omm|;um-ঞom-Ѵ ƒƓĺѵ ƕѷ Ɠѵ Ƒƒ ƑƏ Ɣ ѵ 1|ŊƑƏ ƑƏ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƑѵĺƏ ŊƑƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ ƑƐ u;mŖ ƑƏĺѶ ŊƖѷ ƑƑ ƒƖ ƑƏ ƐƏ ƕ ;1ŊƑƏ ƑƑ &+m|;um-ঞom-ѴŖ ƐƖĺƒ ŊƐƔѷ ƓƐ ƑƓ ƑƏ ƐƑ ƒ -uŊƑƏ Ƒƒ $"Ŗ ƐƒĺƔ ƑƑѷ ƒƏ ƒƐ ƐѶ ƐƐ ƐƏ ";rŊƑƏ ƑƓ ("m|;um-ঞom-ѴŖ ƐƑĺƓ ŊƐƑѷ ƒƓ ƒƔ ƑƐ Ѷ Ƒ ;1ŊƑƏ ƑƔ 7ovm|;um-ঞom-ѴŐƓő ƕĺƕ ŊƑƐѷ ƑƔ ƐƓ Ɠ ƐѶ ƒƖ ;1ŊƑƏ Ƒѵ m;|Ŗ ƒĺѶ ƕѷ ƒƒ Ƒƒ ƑƑ ƐƏ ƐƑ mŊƑƏ Ƒƕ !;-m7-m|;um-ঞom-Ѵ ƏĺѶ ŊƓѵѷ ƐѶ Ƒѵ ƑƖ Ƒƕ Ŋ ;1ŊƑƏ

Total revenue/growth 1,478.1 -6%

34 | February 2021 | International Accounting Bulletin world survey | latin america

latin america Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ Ɣķѵƕƕ ƔķѶƏƔ ŊƑѷ ƑƖѶ ƑƖƒ ƓķѵƔƔ ƓķƕƖƕ ƕƑƓ ƕƐƔ Ѷѵ ѶƓ ѵ u-m|$_oum|omŖŐƐő ƓķƐѵѵ ƒķѵƕƕ Ɛƒѷ ƑƒƐ ƑƑƕ ƒķƐƖƏ ƑķƕѶƕ ƔƑƑ ѵѵƒ ѵƓ ƔƔ ƕ Crowe ƒķѵƐƏ ƒķƕƏƓ Ŋƒѷ ƑѶƔ ƑƑƓ ƑķѶƖƑ ƒķƏƒѵ Ɠƒƒ ƓƓƓ ƖƏ Ѷƒ Ѷ !" ƒķƒƔƑ ƒķƑѵƕ ƒѷ ƑƐƔ ƑƑƑ ƑķƕƑƑ ƑķѵƐƑ ƓƐƔ Ɠƒƒ ƕѵ ƕƑ Ɩ " ŖŐƑő ƑķѶƓƓ ƒķƔƔƏ ŊƑƏѷ ƑƓѶ ƑƕƑ ƑķƓƕѵ ƑķѵƑѶ ƐƑƏ ѵƔƏ ƓƐ ƒƖ ƐƏ ƑķѵƏƐ ƑķѵƑƖ ŊƐѷ ƑƐѶ ƑƏƑ ƑķƏƐƐ ƑķƏѶƔ ƒƕƑ ƒƓƑ ƐƏƖ ƕѶ ƐƐ -h;u$bѴѴm|;um-ঞom-Ѵ ƑķƔƑѵ ƑķƔƏƏ Ɛѷ ƑƓƔ ƑƐѵ ƐķƖƒƏ ƐķƖƒƒ ƒƔƐ ƒƔƐ ƕƖ ƕƔ ƐƑ oou;Ѵo0-Ѵ ƑķƓѵƖ ƑķƓѶƑ ŊƐѷ ƐƖƖ ƐѶƕ ƐķѶƖƔ ƐķƖƑƑ ƒƕƔ ƒƕƒ ѵƐ ƔƖ Ɛƒ ""-ঞmo-l;ub1- ƐķƖƖƖ ƑķƐƖƖ ŊƖѷ ƐѶƐ ƐƖƖ ƐķѵƑƖ ƐķƕƖƑ ƐѶƖ ƑƏѶ ƔƑ ƔƔ ƐƓ --uvŖ ƐķѵƏѵ ƐķƔƖƏ Ɛѷ ƒƏ ƑѶ ƐķƒƖƐ ƐķƒƕƖ ƐѶƔ ƐѶƒ ƑƏ Ƒƒ ƐƔ &ş"l;ub1- ƐķƓƑƑ ƐķѶѶƔ ŊƑƔѷ ƑƐƔ Ƒƒƒ ƐķƏƏƐ ƐķƓƐƔ ƑƏѵ Ƒƒƕ ƐƓѶ ƐƔƏ Ɛѵ m|;um-ঞom-Ѵ ƐķƓƐѵ ƐķƔƓƒ ŊѶѷ ƐƐƒ ƐƑƖ ƐķƏƖѵ ƐķƐѶѵ ƑƏƕ ƑƑѶ ƓƖ ƓѶ !vv;ѴѴ;7=ou7 Ɛƕ ƐķƓƐƔ ƐķƑƒƔ ƐƔѷ ƐƑƒ ƐƏƔ ƐķƏѶƖ ƖƓƏ ƑƏƒ ƐƖƏ ƓѶ Ɠƕ m|;um-ঞom-ѴŖ ƐѶ ;b-m|;um-ঞom-ѴŖ ƐķƒƑѶ ƐķƒƓƐ ŊƐѷ ƐƐƔ ƐƐƔ ƐķƏƐѶ ƐķƏƏѶ ƐƖƔ ƑƐѶ ѵƐ ƔƖ ƐƖ u;v|omm|;um-ঞom-Ѵ ƐķƑƓƑ ƐķƒƏƔ ŊƔѷ ƐƏƓ ƐƐƐ ƖѶѵ ƐķƏƐƏ ƐƔƑ ƐѶƓ ƔƐ ƔƖ ƑƏ u;mŖ ƖƏƕ ѶѶƐ ƒѷ ƕƕ ƕѵ ƕƑѵ ѵƖѶ ƐƏƓ ƐƏƕ ƑƔ ƑƓ ƑƐ &+m|;um-ঞom-ѴŖ ѶѶƒ ѶѶѶ ŊƐѷ ƕƔ ƕѶ ѵƔƖ ѵƓƏ ƐƓƖ ƐƕƏ ƒѵ ƒƒ ƑƑ $"ŖŐƒő ƔƖƔ ƓѶƔ Ƒƒѷ Ɣƒ ƒƐ ƓƕƐ ƒƕѶ ƕƐ ƕѵ ƑƓ ƑƑ Ƒƒ ("m|;um-ঞom-ѴŖ ƓƖƐ ƔƏѶ Ŋƒѷ ƓƑ ƒѵ ƓƏƔ ƒѵƓ ƓƓ ƐƏѶ Ɛѵ ƐƔ Parker Russell ƑƓ ƒѵƑ ƓƏƓ ŊƐƏѷ ƔƐ ƔƖ ƒƐƐ ƒƓƔ Ŋ Ŋ ƑѶ ƑƖ m|;um-ঞom-ѴŖ ƑƔ 7ovm|;um-ঞom-Ѵ ƑƖѶ ƓƔƑ ŊƒƓѷ ƒƕ ƒѵ ƑƑѵ ƒƔѶ ƒƔ ƔѶ ƐƔ Ɛѵ Ƒѵ m;|Ŗ ƑƑƒ ƑƑƖ Ŋƒѷ ƒƕ ƒƑ ƐƓƖ ƐƔƖ ƒƕ ƒѶ ƑƏ Ɛѵ Ƒƕ !;-m7-m|;um-ঞom-Ѵ Ɠƕ Ɣѵ ŊƐѵѷ ѵ ѵ ƒƐ ƒƔ ƐƏ ƐƔ ƒ ƒ

$o|-Ѵv|-@ņ]uo|_ 41,479 42,615 -3% 3,198 3,117 32,959 33,507 5,099 5,991 1,202 1,144

www.internationalaccountingbulletin.com | 35 world survey | latin america

latin america associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƐƏƓĺƑ ŊƓѷ ƓƑ ƑƑ ƑƑ ƐƏ Ɠ ;1ŊƑƏ Ƒ &ş"Ѵo0-ѴŐƐő ƖƖĺƓ ŊƑѶѷ ƐƏ Ŋ ƕƑ ƐѶ Ŋ ;1ŊƑƏ ƒ ŖŐƑő ƖѶĺƏ ƐƏѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ɠ u-b|Ŗ ƕƒĺѶ ŊƑѷ ƒƔ ƓƏ Ɛѵ Ѷ Ɛ ;1ŊƑƏ Ɣ 0-1v)ouѴ7b7;ŖŐƒő ѵƑĺƕ ƔƑƕѷ ƒƏ ƒƑ ƑƏ ƐƑ ѵ ;1ŊƑƏ ѵ ѴѴbmb-ѴѴo0-ѴŖ ƒѶĺƒ ƐƏѷ ƒƑ ƑƏ ƑƓ ƐѶ ѵ ;1ŊƑƏ ƕ ubl;Ѵo0-ѴŖ ƒѶĺƏ ŊƐƐѷ ƓƓ ƑƑ ƐѶ ѵ ƐƏ -ŊƑƏ Ѷ )ouѴ7b7;b|_ ƒƕĺƑ ŊƐƖѷ ƓƐ Ƒƒ Ƒƒ Ɩ Ɠ ;1ŊƑƏ Ɩ m|;um-ঞom-Ѵ ƒƐĺƓ ŊƐƐѷ ƒƕ ƑƐ ƑƔ ƐƏ ƕ ;1ŊƑƏ ƐƏ m|;-Ŗ ƒƏĺƏ ŊƐƏѷ Ƒƒ ƒƖ Ɛѵ ƐƏ ƐƑ ;1ŊƑƏ ƐƐ !m|;um-ঞom-ѴŖ ƑƏĺƑ ŊƓѷ Ɠƕ Ɛѵ ƐƖ Ɛƒ Ɣ mŊƑƏ ƐƑ Ŗ ƐƒĺƖ ŊѶѷ ƑƔ Ɛѵ Ɩ ƒѶ ƐƐ ;1ŊƑƏ Ɛƒ oubvom"bŖŐƐő Ɛƒĺƕ ŊƑƔѷ ƒƏ ƓƓ ƐƔ Ɣ ѵ ;1ŊƐƖ ƐƓ m|;um-ঞom-ѴŖ ƐƑĺƐ ŊƐƔѷ ƓƑ Ƒѵ ƐƔ ƐƓ Ƒ ;1ŊƑƏ ƐƔ m|;]u-m|;um-ঞom-Ѵ ƐƐĺƔ ƓƑѷ ƐƏ ѵƏ ƑƔ Ɣ Ŋ ;1ŊƑƏ Ɛѵ m|;um-ঞom-ѴŐƓő Ѷĺѵ ƐƏѵѷ ѵƓ ƑƏ ƕ ƕ Ƒ ;1ŊƑƏ Ɛƕ "Ѵo0-ѴѴѴb-m1;Ŗ ƕĺƖ ŊƐƑѷ ƓƏ ƐƖ ƒƏ ƕ Ɠ ;1ŊƑƏ ƐѶ m|;um-ঞom-ѴŖ ƕĺƏ ŊƐƐѷ Ɠƕ ƐƖ Ƒѵ Ƒ ѵ ";rŊƑƏ ƐƖ uorŖŐƐő ѵĺƓ ŊƓƔѷ ƒƑ ƑƏ ƒƐ Ɣ ƐƑ ;1ŊƑƏ ƑƏ "m|;um-ঞom-ѴŖŐƓő ƒĺƖ ƑƓѷ ƑƐ ƑƐ Ɛƕ Ɛѵ ƑƔ ;1ŊƐƖ ƑƐ mr-1|Ŗ ƒĺƓ Ɠѷ ƓƏ Ƒƒ ƒƑ ƒ Ƒ ;1ŊƐƖ ƑƑ -bmѴo0-ѴŖ ƏĺƑ mĺ-r Ƒƒ ƑƑ Ɛѵ ƒƖ Ŋ ;1ŊƑƏ

Total revenue/growth 722.0 -1%

36 | February 2021 | International Accounting Bulletin world survey | latin america

latin america associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|Ŗ ƑķƐƑƓ ƑķƐƔƕ ŊƑѷ ƕѵ ƕƒ ƐķƕѶƑ ƐķѶƐƐ Ƒѵѵ Ƒƕƒ ƒƖ ƓƔ )ouѴ7b7;b|_ Ƒ ƐķƓƖƐ ƐķƕѶƐ ŊƐѵѷ ƐѵѶ Ɛƕѵ ƐķƏƒѶ ƐķƑѵƔ ƑѶƔ ƒƓƏ ƔƔ ѵƐ ŐƐő Ѵo0-Ѵņ;-7bm] 7]; ƒ ƐķƓƓƏ ƑķƑƑƖ ŊƒƔѷ ƐƑƐ ƐƓѵ ƐķƏѶƖ Ɛķѵƒѵ ƑƒƏ ƓƓƕ ƔƏ Ɣƕ ѴѴb-m1;ŖŐƑő Ɠ ѴѴbmb-ѴѴo0-ѴŖŐƒő ƐķƓƑѶ ƐķƑѶѶ ƐƐѷ ƑƓѶ ƑƑƔ ƐķƏƐƖ ƖƐѶ ƐѵƐ ƐƓƔ ѵƖ ѵƒ Ɣ &ş"Ѵo0-Ѵ ƐķƓƑƑ ƐķѶѶƔ ŊƑƔѷ ƑƐƔ Ƒƒƒ ƐķƏƏƐ ƐķƓƐƔ ƑƏѵ Ƒƒƕ ƐƓѶ ƐƔƏ ѵ ubl;Ѵo0-ѴŖ ƐķƒƐƑ ƐķƓƕƒ ŊƐƐѷ ƐƒƏ ƐƖƒ ƖƑѵ ƐķƏƏƒ ƑƔѵ Ƒƕƕ ƔƖ ѵƕ ƕ m|;-Ŗ ƐķƑѵƔ ƐķƑƕƑ ŊƐѷ ƐƑƑ ƐƑƐ ƖƕƐ ƖƕƏ ƐƕƑ ƐѶƐ ƔƑ ƔƓ Ѷ 0-1v)ouѴ7b7;Ŗ ƐķƐƕƏ ƒƐƒ ƑƕƓѷ ƕƒ ƒƔ ƐƖƕ ƐƔѶ ƖƏƏ ƐƑƏ ƓƑ ƐѶ Ɩ m|;um-ঞom-Ѵ ƐķƏѵƐ ƐķƐƒƓ Ŋѵѷ ƖѶ ƐƏƕ ƕƖƓ ѶƓѵ ƐѵƖ ƐѶƐ ƔƏ ƒƓ ƐƏ ŖŐƓő ƕƑƔ ѵѵƏ ƐƏѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ƐƐ oubvom"bŖ ѵѶѶ ƕƓƔ ŊѶѷ Ɣƕ ƕƔ ƓƖƓ ƔƒƐ Ɛƒƕ ƐƒƖ ƑƔ ƒƏ ƐƑ !m|;um-ঞom-ѴŖ ƔƔƐ ƔѵƑ ŊƑѷ ƔƖ ƔѶ ƓѵƐ Ɠƕƕ ƒƐ Ƒƕ ƑƖ ƑƖ Ɛƒ m|;um-ঞom-ѴŖ ƓƓƐ ƓƕƑ Ŋƕѷ ƔƔ ƔѶ ƒѶѵ ƓƐƓ Ŋ Ŋ ƑƑ ƑƏ ƐƓ m|;um-ঞom-ѴŖ ƓƏƏ ƓƑѵ Ŋѵѷ ƓƖ ƓѶ ƒƐѶ ƒƒƒ ƒƒ ƓƔ Ƒѵ ƑƔ ƐƔ uorŖ ƒƔƏ ƔƐƑ ŊƒƑѷ ƑƐ Ƒƕ ƑƖƕ ƒƖƐ ƒƑ ƖƓ Ɣ ƕ Ɛѵ "Ѵo0-ѴѴѴb-m1;Ŗ ƒƓƏ ƒƕƖ ŊƐƏѷ ƓƑ Ɠѵ ƑƒѶ ƑѵƓ ѵƏ ѵƖ ƑƏ ƑƏ Ɛƕ m|;um-ঞom-ѴŖ ƒƒѵ ƐѶƓ Ѷƒѷ ƕƑ ƓѶ ƑƏѵ ƐƐƐ ƔѶ ƑƔ ƒƐ ƑƔ ƐѶ m|;]u-m|;um-ঞom-Ѵ ƒƒƐ ƒƏƓ Ɩѷ ƒѶ ƑƖ ƑƓƏ ƑƐƕ Ɣƒ ƔѶ ƐƔ ƐƐ ƐƖ ŖŐƔő ƑƓƕ ƒƔƔ ŊƒƏѷ ƒƒ ƒƕ ƐƓƔ ƑƒƓ ѵƖ ѶƓ ƐѶ ƑƏ ƑƏ mr-1|Ŗ ƐѶѵ ƑƐƕ ŊƐƓѷ ƒƐ ƑѶ ƐƒƔ ƐѵƔ ƑƏ ƑƓ ƐƑ ƐƐ ƑƐ "m|;um-ঞom-ѴŖ Ɛƒѵ ƐƔƐ ŊƐƏѷ ѵ Ɠ ƐƑƐ ƐƒƖ ƖѶѵѵ ƑƑ -bmѴo0-ѴŖ ƑƏ mĺ-r mĺ-r ƒ mĺ-r ƐƔ mĺ-r Ƒ mĺ-r Ɠ mĺ-r

$o|-Ѵv|-@ņ]uo|_ 17,464 18,499 -6% 1,717 1,767 11,873 13,298 3,149 2,774 777 753

www.internationalaccountingbulletin.com | 37 industry focus | digitisation

ddigitisation:igitisation: ssailingailing throughthrough tthehe globalglobal typhoontyphoon

IItt iiss nnowow 200200 yearsyears sincesince CCaptainaptain MosesMoses RRogersogers mmadeade tthehe fifirstrst t rtransatlanticansatlantic c rcrossingossing i nin t hthee U SUS ssailingailing shipship Savannah,Savannah, a vesselvessel nnotot poweredpowered ssolelyolely bbyy tthehe wwind.ind. UUntilntil tthathat ttime,ime, tthehe ssmoothmooth ooperationperation ofof allall ggloballobal ttraderade hhadad bbeeneen eentirelyntirely ddependentependent onon weatherweather cconditions,onditions, andand passagespassages wwereere eextremelyxtremely lliableiable ttoo bebe disrupteddisrupted byby sstorms.torms. A fewfew thingsthings havehave changedchanged since.since. JJonon LLisby,isby, MMD,D, aandnd JJeremyeremy HHyman,yman, aalliancelliance ppartnerartner aatt GGloballobal AAlliancelliance AAdvisorydvisory sserviceservices ((GAAS)GAAS) ccommentomment aced with the prospect of a severe demonstrated how the focus had moved HEAVY-WEATHER TACTICS and damaging storm, an experienced to more enhanced systems employing data Fcrew would fall back on proven analytics, artificial intelligence, machine The 2020 pandemic, like the financial crisis heavy-weather sailing tactics. This might learning and robotics well before the of 2008, initially looked to threaten the very involve reefing the sails, heaving-to, lying gathering storm clouds of the pandemic core of how the profession might continue the hull or running off. finally struck. to adequately serve entrepreneurial business For the accountancy profession however, Among the many new systems, GAAS operating internationally or provide the there were no such proven past tactics to had launched the Zenzero Global Alliance assurance global markets require. employ to be sure of limiting the wreckage Hub, a global independence compliance Storms at sea can be terrifying even today, when the Covid-19 storm darkened the skies system created in partnership with developer, and in the days of the tall ships, they were last year. Zenzero Solutions. Its key advantages in very often life threatening. The threats to the The digital revolution and its related the market being that it is cost-effective, profession were clearly real, like an imminent disruption had already been well underway. and rather than bespoke, is built on the storm warning, and with the potential to Global utilisation of cloud servers had established Microsoft Power Platform threaten our structures in the same way as dramatically reshaped the accounting delivering a fully automated solution for the a ship’s master would fear an approaching industry, automating compliance, and moving 100% response reports that regulators require. hurricane or tsunami. advisory services to real time. The system may also automate global surveys However, once again, our industry has Many of these advances were featured at and the gathering of data such as the IAB proved its resilience and capability to navigate the IAB Digital Accountancy Forums, which World Survey. the most challenging of environments.

38 | February 2021 | International Accounting Bulletin industry focus | digitisation

individuals within member firms – can now be rapidly extended to perhaps 60% or 70%. The demand for greater connectivity may be evidenced by the massive rise in attendance at service and industry sector webinar programmes. Unprecedented numbers in excess of 750 are commonly featured in social media reports. Face-to-face meetings and conferences will undoubtedly retain their value in strengthening relationships, but most alliances are indicating an intention to move to a hybrid system with delegates joining together in the future new world both in person and virtually. This extended reach democratises participation, and it also allows for more reach to experts – individuals with particular technical or sector knowledge which, whilst extremely valuable, did not merit Jon Lisby, GAAS their attendance at global physical events. Jeremy Hyman, GAAS Whatever the conditions, we continue to These experts can be brought closer into Coupled with the development of these demonstrate our ability to sail through the network, working together without transformative systems to harness the data together – adjusting tactics, changing course, geographic boundaries, and bound together necessary to enhance member engagement, enduring and prospering, however hard we in shared pools of expertise to the greater we will continue with our broad range of are hit by storms. The key survival factor good of the whole network. service offerings to support alliances review during this particular crisis, the ‘heavy- World-shrinkage affects clients too, of and implement their strategies, strengthen weather sailing tactic’, was the acceleration course; an increasing number of clients are business development opportunities and towards a world operated with more flexible realising that their services can be offered to grow through recruitment, merger, and remote working. beyond their traditional geographies, through joint venture opportunities. Being a network or association used to and they are reaching beyond these. This Recent surveys indicate that flexible home mean that a select number of people – usually extended reach of clients – clients who working will be the new normal for a high partners – interacted with one another in are often among the most important and percentage of all international office staff, regional and global meetings and special successful of a member firm – generates the and this has undoubtedly been a contributing interest groups. With the cessation of easy need for multi-territorial services such as factor in the expansion of our programmes international – and national – travel, these payments processing or payroll. Networks for individual and team coaching and groups have found their primary mechanism therefore need to use technology to facilitate performance. for interaction terminated. collaboration at scale – everything from The challenge for these networks has been simple referrals through to more complex ALL STORMS PASS… seen largely as finding a mechanism to replace facilities such as assembling multi-firm the warmth and nuances of personal contact, collaborative transnational bids and providing And what of the shipping industry once and the primary answer has been the rapid common global platforms for transaction dominated by those majestic tall ships? Here adoption of videoconferencing platforms such processing and outsourced business services. too the relentless storms of digital disruption as Zoom and Teams. For years, the Big 4 firms and their affiliate and cyberattacks have threatened. practices have operated globally with the Technology has already driven change, with OPPORTUNITIES EMERGE mechanisms needed to work together without containerisation, voyage optimisation and physical contact, simply because of their size vessel fleet utilisation, and now the industry But rather than look at this change as a and scale. Our new flattened world, with awaits the impact of autonomous shipping problem, GAAS has preferred to look at physical barriers but without electronic ones, powered not by crews and the wind but by it as an opportunity – or in fact as several offers the chance for the others to digitally satellite guidance and alternative green fuels. new opportunities – for where we can direct transform themselves and, to support them Worldwide, Covid-19 has come at a terrible support to the international accountancy secure this opportunity. GAAS is delighted human and financial cost; but it has also alliance sector. to have joined Jeremy Hyman Associates ignited a revolution in collaboration, cross- Firstly, the move to a digital world has into our service offering, to help mid-tier border operations and commerce, and global meant a flatter world, allowing all levels of international networks and associations opportunity that networks and associations staff within member firms to participate digitally transform themselves and create a must avail themselves of to not just face down in a network’s operations rather than the competitive edge for their members, using an existential threat, but to thrive and grow. privileged, more senior, few who attended modern technologies and leveraging cloud It is a once-in-a-generation challenge, physical events. This means that the reach of systems that will at once match the big players and correspondingly, a once-in-a-generation the network – previously perhaps to 5-10% of and be the envy of non-affiliated firms. opportunity.

www.internationalaccountingbulletin.com | 39 world survey | middle east

middle east Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƐѶƖĺƔ ƕѷ ƓƖ ƐƏ ƐƐ ƒƏ Ŋ ";rŊƑƏ ѵ " ŖŐƐő ѶƒĺƏ ƐƐƕѷ ƒƐ ƑƓ ƐƖ ƐѶ Ѷ 1|ŊƑƏ ƕ -h;u$bѴѴm|;um-ঞom-Ѵ ѵѶĺƔ ŊѶѷ ƓƑ Ɣ ƑƏ ƑƓ Ɩ ;1ŊƑƏ Ѷ u-m|$_oum|omŖ ƔѶĺѵ ƒѷ ƔƖ Ŋ Ѷ ƒƑ Ɛ ";rŊƑƏ Ɩ Crowe ƔƏĺƒ ŊƐƐѷ ѵƐ Ŋ Ɛѵ ƐƔ Ѷ ;1ŊƑƏ ƐƏ !" ƓƕĺƏ ƕѷ Ɣѵ ѵ ƐƏ Ƒƕ Ɛ ;1ŊƑƏ ƐƐ oou;Ѵo0-Ѵ ƓƔĺƖ Ɛƕѷ ƓѶ Ѷ ƑƏ ƐƏ ƐƔ ;1ŊƑƏ ƐƑ m|;um-ঞom-Ѵ ƓƐĺƏ ѵѷ ѵƏ Ɩ ƐƓ Ɩ Ѷ mŊƑƏ Ɛƒ --uvŖŐƐő ƒƔĺƓ ƔƏѷ ƓƑ ƑƑ ƐƖ Ɛѵ Ɛ ]ŊƑƏ ƐƓ u;v|omm|;um-ঞom-ѴŐƑő ƒƔĺƓ ƑƓѷ ƔƐ ƕ ƑƏ ƐƑ ƐƏ 1|ŊƑƏ ƐƔ ƑƖĺƐ ƒѷ ƓƔ ƐƖ ƐƖ ƐƔ Ƒ ;1ŊƑƏ Ɛѵ ;b-m|;um-ঞom-ѴŖ ƑƔĺƖ Əѷ ƔƐ ѵ ƒƐ Ѷ Ɠ mŊƑƏ Ɛƕ &+m|;um-ঞom-ѴŖ ƑƓĺѶ Ƒѷ ƔƑ ƐƑ ƐƔ ƑƏ Ɛ -uŊƑƏ ƐѶ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ ƐƕĺƐ ƐƔѷ ƓƑ ƐƏ Ƒѵ ƐƔ ƕ ;1ŊƑƏ ƐƖ ("m|;um-ঞom-ѴŖ ѶĺѶ Əѷ ƑѶ ƐƖ Ƒѵ Ɛѵ ƐƐ ;1ŊƑƏ ƑƏ !;-m7-m|;um-ঞom-ѴŐƐő Ѷĺѵ ƔƏѷ ƑѶ Ɠ Ѷ ƐƐ ƓƖ ;1ŊƑƏ ƑƐ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƕĺƖ ŊƖѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ ƑƑ $"Ŗ ƕĺƐ ƑƑѷ ƓƐ ƐƓ ƑƑ ƐƖ Ɠ ";rŊƑƏ Ƒƒ m;|Ŗ ƔĺƑ ŊƐƓѷ ƔƔ ƐƏ ƑƓ Ɣ ѵ mŊƑƏ ƑƓ 7ovm|;um-ঞom-ѴŖ ƓĺƔ ƑѶѷ ѵƏ Ѷ Ѷ ƑƑ Ƒ ;1ŊƑƏ ƑƔ &ş"l;ub1-Ŗ ƑĺƏ ŊƖѷ ѶƓ Ŋ Ɛƒ ƒ Ŋ ;1ŊƑƏ Ƒѵ u;mŖ ƑĺƏ Ƒѷ Ɛѵ Ƒƒ ƑѶ ƐƏ Ƒƒ ;1ŊƑƏ Ƒƕ bm r;uঞ-ŖŐƐő Ɛĺƒ ƐƔƒѷ ƒƑ ƕ ƓƐ ƐƖ Ɛ mŊƑƏ ƑѶ "_bm;)bm]m|;um-ঞom-ѴŖ Əĺƒ ŊƐƒѷ Ѷƒ ƒ ѵ Ŋ Ѷ ;1ŊƑƏ

Total revenue/growth 799.3 12%

40 | February 2021 | International Accounting Bulletin world survey | middle east

middle east Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ ƑķƑƖѶ ƑķƓƏƒ ŊƓѷ ƐƒƏ ƐƐƕ ƐķƖƐƓ ƑķƏƐƑ ƑƔƓ ƑƕƓ ƒƑ ƒƑ ѵ oou;Ѵo0-Ѵ ƐķƑƒѵ ƐķƏƏƑ Ƒƒѷ ƕƒ ѵѶ ƖƐƒ ƕƕƔ ƑƔƏ ƐƔƖ ƒѵ ƒƔ ƕ Crowe ƐķƏѵƕ ƐķƏƐƔ Ɣѷ ƐƒƏ ƐƐƕ ƕѶƐ ƕƕƐ ƐƔѵ ƐƑƕ ƓѶ ƓƖ Ѷ " Ŗ ƐķƏѵƏ ѵƖѵ ƔƑѷ ƓѶ ƒѵ ѵƖƑ ƒƑƏ ƒƑƏ ƒƓƏ ƑƔ Ɛƕ Ɩ u-m|$_oum|omŖ ƖƕƓ ƖƏѵ Ѷѷ ѵƓ Ɣѵ ѶƏƐ ƕƑѵ ƐƏƖ ƐƑƓ ƐƔ ƐƔ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƖƑƒ ƖƒƖ ŊƑѷ ƐƏƒ Ɩѵ ѵѶƖ ѵƖѶ ƐƒƐ ƐƓƔ ƒƏ ƒƏ ƐƐ u;v|omm|;um-ঞom-Ѵ ƕƕѶ ƔƓѵ ƓƑѷ Ɠƕ ƒƖ ѵƔƑ ƓƒƖ ƕƖ ѵѶ ƒƖ ƒƐ ƐƑ !" ƕƔƕ ѵѵƖ Ɛƒѷ Ɣƒ ƔƐ ѵƏѵ ƔƑƒ ƖѶ ƖƔ Ɛƕ ƐƔ Ɛƒ m|;um-ঞom-Ѵ ѵѵƖ ѵƏƔ ƐƐѷ ƕѶ ƕƐ ƔƏƑ ƓƔƏ ѶƖ ѶƓ Ƒƒ ƑƑ ƐƓ --uvŖ ѵƔƑ ƔƑƓ ƑƓѷ ƑƖ ƑƑ ƔƑѵ Ɠƒƒ Ɩƕ ѵƖ ƐƖ ƐƖ ƐƔ ;b-m|;um-ঞom-ѴŖ ѵƏƔ ƔƖƒ Ƒѷ ƕѶ ѶƏ ƓƑƑ ƓƏƕ ƐƏƔ ƐƏѵ ƑƐ Ƒƕ Ɛѵ ŐƐő ѵƏƓ ѵƖѶ ŊƐƒѷ ƕƏ ѵƏ ƓƕƐ ƔƔƐ ѵƒ Ѷƕ ƑƓ ƒƐ Ɛƕ &+m|;um-ঞom-ѴŖ ƔƏƔ ƔƒƑ ŊƔѷ ƔƏ ƓѶ ƒƒƑ ƒƔƓ ƐƑƒ ƐƒƏ ƑƏ ƐƖ !vv;ѴѴ;7=ou7 ƐѶ ƒƕƕ ƒƔѵ ѵѷ Ɠѵ ƓƐ ƑѶƐ ƑƕƏ ƔƏ ƓƔ ƑƏ ƑƏ m|;um-ঞom-ѴŖ ƐƖ &ş"l;ub1- ƑѵƓ ƑƑƓ ƐѶѷ ѵ ѵ Ƒƒƒ ƐƖƕ ƑƔ ƑƐ ƕ ƕ ƑƏ ("m|;um-ঞom-ѴŖ ƑƔƏ Ɛѵƒ Ɣƒѷ ƒƑ ƒƏ ƐƕƓ ƐƐƐ ƓƓ ƑƑ Ɛƒ ƐƑ ƑƐ !;-m7-m|;um-ঞom-Ѵ ƐƖƐ ƐƔƒ ƑƔѷ Ɛƕ ƐƔ ƐƒƔ ƐƏƔ ƒƖ ƒƒ ƐƔ Ɛƒ ƑƑ m;|Ŗ ƐƕƔ ƐѵƔ ѵѷ ƑѶ Ƒѵ ƐƐƕ ƐƐƐ ƒƏ ƑѶ ƐƔ ƐƓ Ƒƒ 7ovm|;um-ঞom-Ѵ Ɛƒƕ ƐƔѵ ŊƐƑѷ ƑѶ ƑƑ ƐƏƑ ƐƐƖ ƕ ƐƔ ƕ ѵ ƑƓ $"Ŗ ƐƒƔ Ɛƒѵ ŊƐѷ ƑƑ Ƒѵ ѶѶ ѶѶ ƑƔ ƑƑ ƐƐ ƐƑ Parker Russell ƑƔ ƐƑƔ ƐƑƔ Əѷ ƐѶ ƐѶ ƐƏƕ ƐƏƕ Ŋ Ŋ Ɛƒ Ɛƒ m|;um-ঞom-ѴŖ Ƒѵ bm r;uঞ-Ŗ ƐƐƔ ƕѶ Ɠƕѷ ƐƓ ƐƑ ѶƑ Ɣƒ ƐƖ Ɛƒ ƐƑ ƐƏ "_bm;)bm]m|;um-ঞom-ѴŖ Ƒƕ ƖƔ ƔƏ ƖƏѷ Ѷ ѵ ƕƓ ƒƐ Ɛƒ Ɛƒ Ɠ ƕ ŐƑő ƑѶ u;mŖ ƑƐ ƑƓ ŊƐƒѷ ƕ ƕ ƐƐ ƐƓ ƒ ƒ Ƒ Ƒ

$o|-Ѵv|-@ņ]uo|_ 14,013 12,758 10% 1,179 1,070 10,705 9,665 2,129 2,023 468 458

www.internationalaccountingbulletin.com | 41 world survey | middle east middle east associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ ŖŐƐőŐƑő ƐƏƐĺƐ ŊƒƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ƒ u-b|ŖŐƒő ѵƑĺƓ Ƒƒѷ ƓѶ Ɛƕ Ƒƒ ƐƏ Ƒ ;1ŊƑƏ ƒ ѴѴbmb-ѴѴo0-ѴŖŐƑő ƒƖĺƏ ŊƑƒѷ ƒƒ Ѷ ƒƏ Ƒƒ ѵ ;1ŊƑƏ Ɠ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƒƔĺƏ ŊѶѷ ƓѶ Ɛƕ ƐƓ ƐѶ ƒ ;1ŊƑƏ Ɣ oubvom"bŖ ƑѵĺƓ Ɠѷ ƓƐ ƒ ƑƑ ƐƔ ƐƖ ;1ŊƐƖ ѵ ubl;Ѵo0-ѴŖ ƑƐĺƏ Ŋѵѷ Ɠƕ ƐƔ ƑƑ ƐƏ ѵ -ŊƑƏ ƕ "Ѵo0-ѴѴѴb-m1;Ŗ ƐƓĺƓ ƐƓѷ ƔѶ Ɣ ƐƖ ƐƏ Ѷ ;1ŊƑƏ Ѷ m|;um-ঞom-ѴŖ ƐƒĺѶ Ɛѷ ƔƏ ƑƐ ƐƔ Ɩ Ɣ ;1ŊƑƏ Ɩ !m|;um-ঞom-ѴŖ ƐƒĺƏ Əѷ Ɣƒ ƐƔ ƑƑ Ѷ ƒ mŊƑƏ ƐƏ m|;um-ঞom-Ѵ ƐƐĺƓ ƐƏѷ Ɣƒ ƐƖ ƐƐ ƕ ƐƏ ;1ŊƑƏ ƐƐ )ouѴ7b7;b|_ ƐƏĺƖ Ɠѷ ƓƔ ƐƓ ƐƖ Ɛѵ ѵ ;1ŊƑƏ ƐƑ mr-1|Ŗ ƖĺƓ Ѷѷ ƓƖ ƐƐ ƐƓ ѵ ƑƏ ;1ŊƐƖ Ɛƒ m|;]u-m|;um-ঞom-ѴŐƒő ƖĺƑ ƒѵѷ ѵƏ Ɣ ƐƔ ƐƔ Ɣ ;1ŊƑƏ ƐƓ m|;um-ঞom-Ѵ Ѷĺѵ ŊƑѷ ѵƑ Ɛѵ ѵ Ƒ ƐƓ ;1ŊƑƏ ƐƔ m|;-Ŗ ѵĺƐ ŊƐѷ ƒƓ ƐѶ Ƒѵ ƐƑ ƐƏ ;1ŊƑƏ Ɛѵ 0-1v)ouѴ7b7;ŖŐƓő ѵĺƏ ƐƓƏѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ɛƕ m|;um-ঞom-ѴŖ ƓĺѶ ŊѶѷ ƓƏ ƐƐ ƐƑ Ѷ ƑƖ ";rŊƑƏ ƐѶ ŖŐƑő ƓĺƓ ŊƔѶѷ Ɠѵ ƐƔ ƐƖ ƐƖ Ɛ ;1ŊƑƏ ƐƖ -bmѴo0-ѴŖ ƓĺƏ mĺ-r ƒѵ ƒƒ ƑƔ ѵ Ŋ ;1ŊƑƏ ƑƏ &ş"Ѵo0-Ѵ ƒĺƐ ŊƓѷ ƔѶ Ŋ ƒƖ ƒ Ŋ ;1ŊƑƏ ƑƐ "m|;um-ঞom-ѴŖŐƒő Ɛĺƕ ѶƔѷ ƐƑ ƓѶ ƑѶ ƐƏ Ƒ ;1ŊƐƖ ƑƑ uorŖ Ɛĺƕ ƐƏѷ Ƒƕ ƑƖ ƑƐ Ɩ ƐƓ ;1ŊƑƏ Total revenue/growth 407.4 -10%

42 | February 2021 | International Accounting Bulletin world survey | middle east middle east associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ ѴѴbmb-ѴѴo0-ѴŖ ƑķƑƓƑ ƑķƐƒƑ Ɣѷ ƑƓƐ ƑƐƖ ƐķѶƕƐ ƐķƕѵѶ ƐƒƏ ƐƓƔ ѶƐ ѵƒ Ƒ u-b|Ŗ ƐķƏƏѶ ѶƖƓ Ɛƒѷ ѵƐ ƔƔ ѶƏѶ ƕƑѶ ƐƒƖ ƐƐƐ ƒƖ ƒƖ Ѵo0-Ѵņ;-7bm] 7]; ƒ ѶƑƔ ѶƓƕ Ŋƒѷ ƐƐƕ ƐƐƖ ƔƒƐ ƔƓƕ Ɛƕƕ ƐѶƐ ƔƑ Ɣƒ ѴѴb-m1;Ŗ Ɠ ŖŐƐő ƕƓѶ ƐķƐƏƏ ŊƒƑѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 Ɣ ubl;Ѵo0-ѴŖ ѵƒƕ ƕƐƑ ŊƐƐѷ Ɣƒ ѵƐ ƓƓѶ ƔƒѶ Ɛƒѵ ƐƐƒ ƑƖ ƒƏ ѵ oubvom"bŖ ƓƖƖ ƓƖѵ Ɛѷ ƔѶ Ɣƕ ƒƕƓ ƒƕѵ ѵƕ ѵƒ ƑƔ ƑƓ ƕ m|;um-ঞom-ѴŖ ƓƓƕ ƓƓƔ Əѷ ƕѶ ѶƐ ƒѵƖ ƒѵƓ Ŋ Ŋ Ɛƒ Ɛƒ Ѷ &ş"Ѵo0-ѴŐƑő ƒƐƓ ƑƑѶ ƒѶѷ ƐƏ Ѷ Ƒѵѵ ƐƖѶ ƒѶ ƑƑ Ɩ Ѷ )ouѴ7b7;b|_ Ɩ ƑѶƐ Ƒƕѵ Ƒѷ ƒƕ ƒƔ ƑƏƐ ƑƏƓ Ɠƒ ƒƕ ƑѶ Ƒѵ Őƒő ƐƏ mr-1|Ŗ ƑƕƖ ƑƕƏ ƒѷ ƑѶ ƑѶ ƑƐѵ ƑƏѶ ƒƔ ƒƓ ƐƔ Ɛƒ ƐƐ "Ѵo0-ѴѴѴb-m1;Ŗ ƑƕƔ ƑѶѶ ŊƔѷ Ƒѵ ƒƑ ƐƖƕ ƐƒѶ ƔƑ ƐƐѶ ƐƐ ƐƑ ƐƑ m|;um-ঞom-Ѵ Ƒѵƒ ƑƔƐ Ɣѷ ƒƏ Ƒѵ ƑƏƑ ƐѶƏ ƒƐ ƓƔ ƐƖ Ɛƕ Ɛƒ m|;]u-m|;um-ঞom-Ѵ ƑƏƖ ƐƒƏ ѵƐѷ ƐƖ Ɛƕ ƐƔƏ ƖƏ ƓƏ Ƒƒ ƐƐ Ɩ ƐƓ !m|;um-ঞom-ѴŖ ƑƏѶ ƑƏѶ Əѷ Ƒƕ Ƒƕ ƐƓѶ ƐƓѶ ƒƒ ƒƒ Ɛƒ Ɛƒ ƐƔ m|;-Ŗ ƐѶƖ ƐƕƔ Ѷѷ ƓƐ ƒƔ ƐƐƕ ƐƐƐ ƒƐ ƑƖ Ɛƒ ƐƐ Ɛѵ 0-1v)ouѴ7b7;Ŗ ƐƕƖ ƔƏ ƑƔѶѷ ƒƓ ѵ ƕѶ ƒƑ ѵƕ ƐƑ Ɛƒ Ɣ Ɛƕ Ŗ ƐƏѶ ƑƏƏ ŊƓѵѷ ƑƔ ƒѶ ƓƖ Ѷѵ ƒƓ ƕѵ Ɛƒ ƐѶ ƐѶ m|;um-ঞom-ѴŖ ƖѶ ƐƐƏ ŊƐƐѷ Ɛѵ ƑƐ ѵѵ ƕƔ Ɛѵ ƐƓ Ɩ Ɩ ƐƖ uorŖ Ѷƕ Ѷƕ Əѷ Ɩ Ɩ ƓƖ ƓƖ ƑƖ ƑƖ Ɠ Ɠ ƑƏ m|;um-ঞom-ѴŐƓő ƕѶ ѵƒ ƑƓѷ Ƒƒ ƐƖ ƔƏ ƓƏ ƔƓƕѵ ƑƐ -bmѴo0-ѴŖ ѵƏ mĺ-r mĺ-r Ɣ mĺ-r ƔƑ mĺ-r ƒ mĺ-r Ƒ mĺ-r ƑƑ "m|;um-ঞom-ѴŖ ƓƑ ƕƐ ŊƓƐѷ Ѷ ƐƑ ƒƏ Ɠƕ Ɠ ƐƑ ƒ Ƒ

$o|-Ѵv|-@ņ]uo|_ 9,076 9,033 0% 946 905 6,272 5,927 1,110 1,101 409 375

www.internationalaccountingbulletin.com | 43 world survey | africa africa Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƐƔƖĺƓ ŊƐѷ ƔƑ ƑƓ ƐƏ ƐƓ Ŋ ";rŊƑƏ ѵ u-m|$_oum|omŖ ƐƐƔĺƏ ŊѶѷ ƔƔ Ŋ ƐƔ Ƒƕ ƒ ";rŊƑƏ ƕ --uvŖ ƐƏѵĺƐ Ɩѷ ƓƖ ƑƑ Ɛƒ Ɛѵ Ŋ ]ŊƑƏ Ѷ " Ŗ ƖƐĺƏ Ɛѷ ƓƑ ƑѶ ƑƓ Ɠ Ƒ 1|ŊƑƏ Ɩ m|;um-ঞom-Ѵ ѵѵĺƕ ŊƓѷ ƔƑ Ɛƕ ƐƓ Ƒ ƐƔ mŊƑƏ ƐƏ -h;u$bѴѴm|;um-ঞom-Ѵ ƒѵĺƖ Ѷѷ ƔƔ ƐƔ ƐƐ ƐƑ ƐƑ ;1ŊƑƏ ƐƐ !" ƒƔĺƑ ŊƔѷ ƓƖ ƐƑ ƐѶ ƐƖ Ƒ ;1ŊƑƏ ƐƑ ;b-m|;um-ঞom-ѴŖ ƒƒĺƒ Ŋƕѷ Ɠƕ ƐѶ Ɩ ƑƓ Ƒ mŊƑƏ Ɛƒ ƒƑĺƔ Ɛѵѷ Ƒƕ ƑƔ Ɩ ƒѵ ƒ ;1ŊƑƏ ƐƓ oou;Ѵo0-Ѵ ƒƐĺƖ Ŋѵѷ ƓƓ ƑƑ ƐƏ Ɛƒ ƐƐ ;1ŊƑƏ ƐƔ Crowe ƑƖĺƏ Ɛѷ ѵƐ Ŋ ƐƑ ƑƏ ƕ ;1ŊƑƏ Ɛѵ u;v|omm|;um-ঞom-Ѵ Ƒƕĺƒ ŊƓѷ ƔѶ ƐƑ ƕ Ɩ ƐƓ 1|ŊƑƏ Ɛƕ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖ Ѷĺѵ ƒƑѷ Ɠƒ ƑƐ ƐƓ Ѷ ƐƓ ;1ŊƑƏ ƐѶ $"Ŗ ѶĺƐ ƒƐѷ ƒƏ Ƒѵ ƐƖ ƑƓ Ɛ ";rŊƑƏ ƐƖ &+m|;um-ঞom-ѴŖ ƕĺѵ ŊƐƓѷ ƔƐ Ɛƒ ƐƖ ƐƓ ƒ -uŊƑƏ ƑƏ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ Ɣĺѵ Ŋѵѷ Ŋ Ŋ Ŋ Ŋ Ŋ ;1ŊƑƏ ƑƐ !;-m7-m|;um-ঞom-ѴŐƐő ƓĺƓ ƒƖѷ ƐƐ ѵƑ Ɣ ƐѶ Ɠ ;1ŊƑƏ ƑƑ ("m|;um-ঞom-ѴŖ ƑĺƔ ŊƐѷ ƒƒ ƒƒ Ɛƒ ƐѶ ƒ ;1ŊƑƏ Ƒƒ m;|Ŗ ƐĺƖ ŊƐƏѷ Ɣѵ ƐƐ ƐƓ ƐƓ Ɣ mŊƑƏ ƑƓ 7ovm|;um-ঞom-ѴŖ Əĺѵ mĺ-r ƔƏ ƐƖ Ɛѵ ѵ Ɩ ;1ŊƑƏ ƑƔ &ş"l;ub1- ƏĺƔ mĺ-r ƕƏ Ŋ ƑƏ ƐƏ Ŋ ;1ŊƑƏ Ƒѵ "_bm;)bm]m|;um-ঞom-ѴŖ ƏĺƔ ŊƐƖѷ Ƒƒ ƒ ƕƏ Ɛ ƒ ;1ŊƑƏ Ƒƕ bm r;uঞ-Ŗ ƏĺƑ Ŋƒѷ Ɣѵ ѵ ƐѶ Ɩ ƐƐ mŊƑƏ

Total revenue/growth 804.8 0%

44 | February 2021 | International Accounting Bulletin world survey | africa africa Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ ƒķƖƒƏ ƒķƕƑƒ ѵѷ ƑƓѵ ƑƒƑ ƒķƏѵѵ ƑķѶƕƒ ѵƐѶ ѵƐѶ Ɠѵ Ɠƕ ѵ u-m|$_oum|omŖŐƐő ƒķƒƐƑ ƑķƕƓƕ ƑƐѷ ƐƕƓ ƐƕƐ ƑķƕƑƕ ƑķƐƐƐ ƓƐƐ ƓѵƔ Ɠѵ ƔƑ ƕ --uvŖ ƒķƏƏƑ ƑķѶƒƔ ѵѷ ƐƑƏ ƐƑƐ ƑķƓƏƏ ƑķƑƓƒ ƓѶƑ ƓƕƐ ƓƓ ƓƔ Ѷ m|;um-ঞom-ѴŖ ƑķƕƔƏ ƑķƔѶƕ ѵѷ ƑƏƕ Ɛƕƒ ƑķƐƏƒ ƐķƖѶѶ ƓƓƏ ƓƑѵ ѵѵ ƔѶ Ɩ -h;u$bѴѴm|;um-ঞom-Ѵ ƐķƔƖƒ ƐķƔѶƕ Əѷ ƐƏƐ Ɩѵ ƐķƑƑƒ ƐķƑƏѶ ƑѵƖ ƑѶƒ ƒѵ ƑƖ ƐƏ !" ƐķƒƔƏ ƐķƒƑƏ Ƒѷ ƐƑƖ ƐƐƐ ƖƖƕ ƐķƏƐƐ ƑƑƓ ƐƖѶ ƓƏ ƒѶ ƐƐ " Ŗ ƐķƒƏѶ ƐķƑƔƓ Ɠѷ ƔƏ Ɛƕ ƕƓƏ ѵѵƏ ƔƐѶ Ɣƕƕ Ƒƒ ƑƐ ƐƑ ;b-m|;um-ঞom-ѴŖ ƐķƑƒƖ ƐķƑƏѵ ƒѷ ƐƏƓ ƖƔ ƖƑѵ ƖƐƒ ƑƏƖ ƐƖѶ ƔƐ ƓƖ Ɛƒ uo;ŐƑő ƐķƐѶƐ ƐķƏƑƕ ƐƔѷ ƐƐѵ ƐƏƖ ѶƕƐ ƕƒƕ ƐƖƓ ƐѶƐ ƓƔ ƓƖ ƐƓ oou;Ѵo0-ѴŖ ƐķƐƒѵ ƐķƏƐƕ ƐƑѷ ƐƏƒ Ɩƒ ѶѵƐ ƕƓѵ ƐƕƑ ƐƕѶ ƒƏ Ƒѵ ƐƔ u;v|omm|;um-ঞom-ѴŐƒő ƐķƏѵƒ ƐķƑƔƏ ŊƐƔѷ ѶƓ Ɩѵ ѶƒƑ ƐķƏƏƐ ƐƓƕ ƐƔƒ ƒѶ ƓƖ Ɛѵ ŐƓő ƖѶѶ ѶƑƒ ƑƏѷ ƐƏѶ ƖƏ ѵƕƑ ƔƓƐ ƑƏѶ ƐƖƑ ѵƑ ƔƐ Ɛƕ $"Ŗ ƓƔƖ ƒƑƔ ƓƐѷ ƒƓ Ƒѵ ƒƓƒ ƑƓƒ ѶƑ Ɣѵ ƐƖ ƐƔ ƐѶ &+m|;um-ঞom-ѴŖ ƒƔƖ ƒѶѵ Ŋƕѷ ƔƐ ƓƖ ƑƑѵ ƑƔƓ ѶƑ Ѷƒ ƑƓ ƑƔ !vv;ѴѴ;7=ou7 ƐƖ ƒƔƕ ƒƐƔ Ɛƒѷ ƒƖ ƒƔ ƑƓƖ ƑƑѶ ѵƖ ƔƑ ƐƖ Ɛѵ m|;um-ঞom-ѴŖ ƑƏ m;|Ŗ ƐƒƑ ƐƒƏ Ƒѷ Ɛѵ ƐѶ Ѷѵ Ѷѵ ƒƏ Ƒѵ Ɛѵ ƐѶ Parker Russell ƑƐ ƐƑƐ ƐƑƐ Əѷ ƑƐ ƑƐ ƐƏƏ ƐƏƏ Ŋ Ŋ Ѷ Ѷ m|;um-ঞom-ѴŖ ƑƑ ("m|;um-ঞom-ѴŖ ƐƏƔ ƐƏƖ ŊƓѷ Ѷ Ɩ ѶƑ ѶƔ ƐƔ ƐƔ ѵ ѵ Ƒƒ !;-m7-m|;um-ঞom-Ѵ Ɩƕ Ɣѵ ƕƒѷ ƐƏ ƕ ƕƐ ƓƑ Ɛѵ ƕ ƕ Ɠ ƑƓ "_bm;)bm]m|;um-ঞom-ѴŖ ѵƒ ƕѵ ŊƐƕѷ Ɣ Ɣ ƓƔ ѵƐ Ɛƒ ƐƏ Ɛ Ƒ ƑƔ bm r;uঞ-Ŗ Ɣƒ Ɣƒ Əѷ ƒ ƒ ƒѶ ƒƖ ƐƑ ƐƐ Ɛ Ɛ Ƒѵ 7ovm|;um-ঞom-Ѵ ƓƐ mĺ-r mĺ-r Ɩ Ŋ ƒƏ ŊƑŊƓŊ Ƒƕ &ş"l;ub1- ƑƑ mĺ-r mĺ-r Ƒ Ŋ Ɛƕ ŊƒŊƑŊ

$o|-Ѵv|-@ņ]uo|_ 24,661 22,947 10% 1,740 1,577 18,705 17,170 4,216 4,200 634 609

www.internationalaccountingbulletin.com | 45 world survey | africa africa associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ ŖŐƐő ƐƔƓĺѶ ƒƏѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ƒ u-b|Ŗ ƐƏƖĺƖ Ɩѷ ƔƏ ƑƑ Ɛƒ ƐƔ Ŋ ;1ŊƑƏ ƒ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƑƏĺƏ Ɠѷ Ɠѵ ƑƑ ƐƔ Ѷ Ɩ ;1ŊƑƏ Ɠ )ouѴ7b7;b|_ ƐƔĺƑ Əѷ ƓƏ Ƒѵ Ɛƒ Ɛƒ Ѷ ;1ŊƑƏ Ɣ ѴѴbmb-ѴѴo0-ѴŖ ƐƓĺƑ Ѷѷ ƒƏ ƒƑ ƐƓ Ɛƕ ƕ ;1ŊƑƏ ѵ !m|;um-ঞom-ѴŖ ƐƑĺѶ ŊƐѷ ƓƑ ƑƏ ƐƑ ƑƓ ƒ mŊƑƏ ƕ oubvom"bŖ ƐƑĺƕ ƐƑѷ ƒƐ ƕ ƐƔ ƒƑ ƐƔ ;1ŊƐƖ Ѷ "Ѵo0-ѴѴѴb-m1;Ŗ ƐƑĺƓ ŊѶѷ ƓƏ ƑƏ ƐƏ Ɛƒ Ɛƕ ;1ŊƑƏ Ɩ ubl;Ѵo0-ѴŖ ƖĺƏ ƐƏѷ Ɣƒ ƑƏ Ɛƒ ƐƏ Ɠ -ŊƑƏ ƐƏ m|;]u-m|;um-ঞom-Ѵ ƕĺƏ ѵѷ ƔƏ ƐƏ ƑƔ ƐƔ Ŋ ;1ŊƑƏ ƐƐ m|;um-ঞom-ѴŖ ѵĺƏ ŊƔѷ ƒƕ ƒƔ ƐƖ ƕ Ƒ ";rŊƑƏ ƐƑ m|;um-ঞom-Ѵ Ɣĺƒ Ɠѷ ƒѶ ƑѶ Ɛƒ Ɩ ƐƑ ;1ŊƑƏ Ɛƒ m|;um-ঞom-Ѵ ƓĺƐ ƐƓѷ ƔƓ Ƒѵ ƐƐ ѵ ƒ ;1ŊƑƏ ƐƓ uorŖ ƒĺƖ ŊƓѷ Ƒƒ ƐѶ Ɠƒ ƐƐ Ɣ ;1ŊƑƏ ƐƔ Ŗ ƒĺѶ Ɣѷ ƑƖ Ɛƒ ƐѶ ƒƕ ƒ ;1ŊƑƏ Ɛѵ mr-1|Ŗ ƒĺƕ ƐƖѷ ƔѶ ƐƔ Ɩ Ѷ ƐƏ ;1ŊƐƖ Ɛƕ m|;-ŖŐƑő ƒĺƑ ŊƔƏѷ ƑѶ ƒƒ ƑƏ Ɛƒ ѵ ;1ŊƑƏ ƐѶ m|;um-ঞom-ѴŖ ƒĺƑ Ɛѷ ƓƖ ƑƐ ƐƔ Ɩ ѵ ;1ŊƑƏ ƐƖ "m|;um-ঞom-ѴŖ ƐĺƐ mĺ-r ƐѶ ƓƐ ƑƔ ƐƓ Ƒ ;1ŊƐƖ ƑƏ &ş"Ѵo0-Ѵ ƐĺƏ mĺ-r ƕƏ Ŋ ƑƏ ƐƏ Ŋ ;1ŊƑƏ ƑƐ 0-1v)ouѴ7b7;ŖŐƑő Əĺƒ ŊѶƏѷ ƕƔ Ƒ Ɛƒ Ѷ Ƒ ;1ŊƑƏ ƑƑ -bmѴo0-ѴŖ ƏĺƑ Ɛѷ ѶƖ Ŋ Ŋ ƐƐ Ŋ ;1ŊƑƏ

Total revenue/growth 403.7 12%

46 | February 2020 | International Accounting Bulletin world survey | africa africa associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|Ŗ ƒķƏѵƔ ƑķѶƖƖ ѵѷ ƐƑѵ ƐƑѵ ƑķƓƓѶ ƑķƑƖƑ ƓƖƐ ƓѶƐ Ɠѵ Ɠƕ Ƒ ŖŐƐő ƐķƐƓѵ ѶѶƏ ƒƏѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 Ѵo0-Ѵņ;-7bm] 7]; ƒ ѵƕѶ ƕƏƒ ŊƓѷ ƔƐ Ɣƕ ƓѶѶ ƔƏƔ ƐƒƖ ƐƓƐ ƒƐ ƒƑ ѴѴb-m1;Ŗ Ɠ ubl;Ѵo0-ѴŖ ƔƖƐ ƔƓƏ Ɩѷ ƓƖ Ɠƒ ƒѶƑ ƒѶѶ ƐѵƏ ƐƏƖ ƑѶ Ƒƒ )ouѴ7b7;b|_ Ɣ ƔƑƐ ƓƕƖ Ɩѷ Ɣƕ ѵѵ ƓƏƏ ƒƔƏ ѵƓ ѵƒ ƑƔ ƐƔ ŐƑő ѵ ѴѴbmb-ѴѴo0-ѴŖ ƓƖѵ ƓƓѶ ƐƐѷ ƒƒ ƑƖ ƒƖѶ ƒѵƏ ѵƔ ƔƖ ƑƓ ƐƖ ƕ oubvom"bŖ Ɠѵƕ ƓƐƒ Ɛƒѷ ƓƔ ƒƕ ƒƓƐ ƒƏƕ ѶƐ ѵƖ ƐƔ ƐƑ Ѷ "Ѵo0-ѴѴѴb-m1;Ŗ ƓƔƐ ƒƕƖ ƐƖѷ ƒƒ ƒƑ ƒƓѵ ƑѶƕ ƕƑ ѵƏ ƐƓ ƐƓ Ɩ !m|;um-ঞom-ѴŖ ƒƕƔ ƒƕѵ Əѷ Ƒƕ Ƒƕ ƒƐƏ ƒƏƖ ƒѶ ƓƏ ƐƓ ƐƓ ƐƏ m|;-Ŗ ƑƖƕ ƑƖƑ Ƒѷ ƔѶ ƑƐ ƑƐѵ ƑƏѶ Ƒƒ ѵƒ ƐƑ Ɩ ƐƐ m|;um-ঞom-ѴŖ ƑƕƔ ƑѵƏ ѵѷ ƓƐ Ɠƒ ƐѶѶ ƐѶƒ Ɠѵ ƒƓ ƑƑ Ɛƕ ƐƑ m|;]u-m|;um-ঞom-Ѵ ƑƕƓ ƒƏƕ ŊƐƐѷ ƑƏ ƑƔ ƑƐƑ ƑƓƐ ƓƑ ƓƐ ƐƏ ƐƐ Ɛƒ m|;um-ঞom-ѴŖ ƑƕƏ ƑѶƓ ŊƔѷ ƒѶ ƒƔ ƐѵƏ ƐѶƒ ƕƑ ѵѵ ƐƖ Ɛƕ ƐƓ mr-1|Őƒő Ƒѵƒ ƐƖƖ ƒƑѷ ƑƑ Ɛѵ ƑƐƐ ƐѵƑ ƒƏ ƑƐ Ƒƒ ƐƖ ƐƔ m|;um-ঞom-ѴŖŐƓő ƑƒƐ ƑƒƖ Ŋƒѷ ƑƐ ƑƑ ƑƐƏ ƑƐƕ Ŋ Ŋ Ɣ ѵ Ɛѵ uorŖ ƑƑѵ ƑƔƔ ŊƐƐѷ ƑƐ Ƒѵ ƐƏƔ ƐƑѵ ƐƏƏ ƐƏƒ ѵ ƕ Ɛƕ ŖŐƔő ƑƏѶ ƑѶƐ ŊƑѵѷ ƐƓ Ɛƕ ƐƓƖ ƑƏƕ ƓƔ Ɣƕ Ɛƒ ƐƖ ƐѶ m|;um-ঞom-ѴŖ ƐƖѶ ƐƖƑ ƒѷ Ƒƕ ƑƔ ƐƓƐ ƐƒѶ ƒƏ ƑƖ Ɛƒ ƐƑ ƐƖ "m|;um-ঞom-ѴŖ ѵƐ mĺ-r mĺ-r ѵ mĺ-r ƒѵ mĺ-r ƐƖ mĺ-r Ɠ mĺ-r ƑƏ 0-1v)ouѴ7b7;Ŗ ƓƐ ƒƑ ƑѶѷ ƐƏ ѵ ƐѶ ƑƐ Ɛƒ Ɣ Ɣ Ɣ ƑƐ &ş"Ѵo0-Ѵ ƑƑ mĺ-r mĺ-r Ƒ mĺ-r Ɛƕ mĺ-r ƒ mĺ-r Ƒ mĺ-r ƑƑ -bmѴo0-ѴŖ Ѷ Ѷ Əѷ ƒƒƒƒƑƑƑƑ

$o|-Ѵv|-@ņ]uo|_ 10,164 9,466 6% 704 656 6,779 6,487 1,535 1,443 333 300

www.internationalaccountingbulletin.com | 47 world survey | asia-pacific asia-pacific Networks: fee data (excluding big 4 – see page 25)

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɣ ƐķƑƓƑĺƓ Ɠѷ ƔƓ Ɛƒ ƐƑ ƑƐ Ŋ ";rŊƑƏ ѵ u-m|$_oum|omŖ ƐķƏƒƐĺѶ ŊƑѷ ƔƏ Ŋ Ƒƒ ƑƑ Ɣ ";rŊƑƏ ƕ -h;u$bѴѴm|;um-ঞom-Ѵ ѶƒƔĺƓ Ɠѷ ƔƑ Ɛƒ ƐƑ ƐƓ Ɩ ;1ŊƑƏ Ѷ uo;ŐƐő ѶƐƔĺѶ ŊƑƕѷ Ɣƒ Ŋ Ѷ ƑƔ ƐƓ ;1ŊƑƏ Ɩ !"ŐƑő ƕƓƖĺѶ ƑƏѷ ƔƑ ƐƑ Ɛƒ ƐѶ Ɣ ;1ŊƑƏ ƐƏ ;b-m|;um-ঞom-ѴŖ ѵƒƐĺƓ ŊƐѷ ƔƏ Ɩ ƑƑ ƐƐ Ѷ mŊƑƏ ƐƐ oou;Ѵo0-Ѵ ƔƕƑĺƖ ŊƖѷ ƕƐ ƐƏ ѵ Ɣ ƕ ;1ŊƑƏ ƐƑ -mŊ_bm-m|;um-ঞom-ѴŖ ƔѵѶĺƔ ƐƓѷ ƕƖ Ŋ ƒ Ƒ Ɛѵ ;1ŊƑƏ Ɛƒ u;v|omm|;um-ঞom-Ѵ ƔƏѶĺѶ Ɛѵѷ Ɠƕ ƕ ƐƐ ѵ ƑƖ 1|ŊƑƏ ƐƓ ƔƏƓĺƕ Ŋƒѷ ѵƔ ƐƐ ƐƑ Ѷ Ɠ ;1ŊƑƏ ƐƔ "_bm;)bm]m|;um-ঞom-ѴŖ ƓƕƓĺƏ Ѷѷ ƕƏ Ɣ ѵ ƕ ƐƑ ;1ŊƑƏ Ɛѵ m|;um-ঞom-ѴŐƒő ƒƕƔĺѶ ƐƔѷ ѵƓ ƐƏ Ѷ ƐƐ ƕ mŊƑƏ Ɛƕ --uvŖŐƓő ƒѵƓĺƖ ƑƓѷ ѵƖ ƐƐ Ɣ ƐƓ Ɛ ]ŊƑƏ ƐѶ !;-m7-m|;um-ঞom-Ѵ ƐƕѶĺƔ ŊƓѷ ƒƖ Ƒ Ɩ ƐƐ ƒƖ ;1ŊƑƏ ƐƖ " ŖŐƒő ƐƑƖĺƏ ƑƓѷ ƒƓ ƑƓ ƐƖ ƐѶ Ɣ 1|ŊƑƏ ƑƏ &+m|;um-ঞom-ѴŖ ƐƏƓĺƖ ƒѷ Ɠƒ ƐƖ Ɛѵ Ɛƕ Ɣ -uŊƑƏ ƑƐ !vv;ѴѴ;7=ou7m|;um-ঞom-ѴŖŐƒő ѶƑĺƏ ƓƖѷ ƒƖ Ɛƒ ƑѶ ƐƓ ѵ ;1ŊƑƏ ƑƑ ("m|;um-ঞom-ѴŖ ѵƔĺƖ ƒѷ Ƒƕ ƒƓ Ɛƕ Ѷ ƐƓ ;1ŊƑƏ Ƒƒ m;|Ŗ ƓƑĺƏ Ŋѵѷ ƒƐ Ɛѵ Ɛƒ Ɛƕ Ƒƒ mŊƑƏ ƑƓ $"Ŗ ƑƔĺƐ ƑƓѷ Ɠѵ ƐƔ ƐƓ ƐƔ ƐƏ ";rŊƑƏ ƑƔ -uh;u!vv;ѴѴm|;um-ঞom-ѴŖ ƐƔĺƕ Ɛѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ƒѵ 7ovm|;um-ঞom-ѴŖŐƒő ƐƐĺƓ ƒƐѶѷ ƒƐ ƒƒ Ɛƕ Ѷ ƐƐ ;1ŊƑƏ Ƒƕ bm r;uঞ-Ŗ Ɣĺƒ ƐѶѷ Ɣƒ ѵ ƕ Ɛƕ Ɛƕ mŊƑƏ ƑѶ &ş"l;ub1-Őƒő Ɠĺƕ ƑƓѷ Ɣѵ Ŋ Ɛƕ Ƒƕ Ŋ ;1ŊƑƏ

Total revenue/growth 9,340.7 2%

48 | February 2021 | International Accounting Bulletin world survey | asia-pacific asia-pacific Networks: staff data (excluding big 4 – see page 25)

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɣ ƑƏķѶƔƐ ƑƏķƔƔѶ Ɛѷ ƖƕƏ Ɩƒѵ ƐƕķѵƖƓ ƐƕķƓѵѶ ƑķƐѶƕ ƑķƐƔƓ ƐƐѶ ƐƐƕ ѵ u-m|$_oum|omŖ ƐѶķƑƕƖ ƐƕķƓƒƕ Ɣѷ ƖѶƏ ƖƓƔ ƐƔķƒƖѶ ƐƓķƕƑƕ ƐķƖƏƐ ƐķƕѵƔ ƐƐѵ ƐƐƑ ƕ Crowe ƐƑķƔƑƑ ƐѵķƓƖƐ ŊƑƓѷ ѵѶƏ ѶƔƏ ƐƏķƑƕƓ Ɛƒķƕƒѵ ƐķƔѵѶ ƐķƖƏƔ Ƒƒƕ ƑƓѶ Ѷ -h;u$bѴѴm|;um-ঞom-Ѵ ƐƐķƖƖƐ ƐƐķƕѶѵ Ƒѷ ƔƖƏ ƔѶƐ ƐƏķƐƖƔ ƐƏķƏƓƓ ƐķƑƏѵ ƐķƐѵƐ ƐƐƒ mĺ7 Ɩ !" ƐƐķƖƒƖ ƐƏķƏѶѶ ƐѶѷ ѵƏѶ ƔƑƔ ƖķѶƐƒ ѶķƐƐƏ ƐķƔƐѶ ƐķƓƔƒ ƐƐѶ ƐƐѵ ƐƏ oou;Ѵo0-Ѵ ƐƏķƓƓƏ ƐƑķƐƓƔ ŊƐƓѷ ƔƏѵ ƔƑƖ ƖķƒƒƑ ƐƏķƕƓƖ ѵƏƑ Ѷѵƕ ƕƕ ƐƐƒ ƐƐ ;b-m|;um-ঞom-ѴŖ ƖķƐѶƓ ƐƏķƐѵƐ ŊƐƏѷ ƕƑƖ ƕƑƓ ѵķƔѶƔ ƕķƔƐѶ ƐķѶƕƏ ƐķƖƐƖ ƐƔƕ ƐƐƑ ƐƑ "_bm;)bm]m|;um-ঞom-ѴŖ ƖķƐѵƓ ƖķƑƐƖ ŊƐѷ ƓƐѵ ƓƑƑ ѶķƐƐƓ ѶķƐѶƒ ѵƒƓ ѵƐƓ ƔƔ Ɠƕ Ɛƒ --uvŖ ƕķƕƒѵ ѵķƕƐƑ ƐƔѷ ƑƏƑ ƐƕƐ ѵķѶƐѶ ƔķƖƑƒ ƕƐѵ ѵƐѶ ƔѶ Ɣƕ ƐƓ ŐƐő ƕķƐѵƖ ѶķѶƏƑ ŊƐƖѷ ƔƖѶ ѵƏƓ ƔķƕƏƐ ѵķѵƑѶ ѶƕƏ ƐķƔƕƏ Ɛѵƒ ƐƔƐ ƐƔ u;v|omm|;um-ঞom-Ѵ ѵķѶƖƐ ƕķƒƓƖ Ŋѵѷ ƓƏѵ ƓƐƓ ƔķƕѵƐ ѵķƑƐƐ ƕƑƓ ƕƑƓ ƐƓѶ ƐƓѵ Ɛѵ -mŊ_bm-m|;um-ঞom-ѴŖ ѵķѶƐѶ ѵķƕѵƏ Ɛѷ ƒƏƖ ƑѵƐ ѵķƑƏƔ ѵķƑƒƐ ƒƏƓ ƑѵѶ ƐѶ Ɛѵ Ɛƕ m|;um-ঞom-Ѵ ѵķƑƑѵ ƔķƕƑѵ Ɩѷ ƓѵƓ ƒѶƐ ƔķƑƏƓ ƓķѶƐѶ ƔƔѶ ƔƑƕ ƐƐƐ ƐƏƏ ƐѶ !;-m7-m|;um-ঞom-ѴŖ ƒķƓƒѵ ƒķѵƐƓ ŊƔѷ ƐƒƔ ƐƔƕ ƑķѶƑƑ ƑķѶƕƕ ƓƕƖ ƔѶƏ ƕƐ ѶƏ ƐƖ &+m|;um-ঞom-ѴŖ ƑķƖѶƕ ƑķƖƒѵ Ƒѷ ƑƓƑ ƑƐƖ ƑķƒƔƕ ƑķƒѶƏ ƒѶѶ ƒƒƕ ƕƖ ƕƕ ƑƏ " Ŗ ƐķѵѵƑ ƐķƒƖƒ ƐƖѷ Ɩƕ ѵƕ ƐķƑƐƔ ƖƐѵ ƒƔƏ ƓƐƏ ƓƓ ƓƐ !vv;ѴѴ;7=ou7 ƑƐ ƐķƔƔƔ ƐķƓƐƓ ƐƏѷ ƐƔƏ ƐƑƑ ƖƖƑ ƖƖѶ ƓƐƒ ƑƖƓ ƓƔ ƓƏ m|;um-ঞom-ѴŖ ƑƑ ("m|;um-ঞom-ѴŖ ƐķƓѶƖ ƐķƒƐƔ Ɛƒѷ Ɛƒѵ Ɛƒƒ ƐķƐƑƔ ƖƕƓ ƑƑѶ ƑƏѶ ƔƑ ƓƖ Ƒƒ $"Ŗ ѶƖƕ ƕѶƖ ƐƓѷ ƔƖ Ɣƕ ƕƔƖ ѵƔƔ ƕƖ ƕƕ ƒѶ ƒƖ ƑƓ m;|Ŗ ƔƕƑ ѵƓƏ ŊƐƐѷ ƐƐƒ ƐƐƔ ƐƖƖ ƑƓƏ ƑѵƏ ƑѶƔ ƒƓ ƒƒ Parker Russell ƑƔ ƓƒƖ ƓƐƖ Ɣѷ Ɣƕ ƔƔ ƒѶѶ ƒѵƓ Ŋ Ŋ ƒƔ ƒƓ m|;um-ঞom-ѴŖ Ƒѵ 7ovm|;um-ঞom-Ѵ ƒƓѶ ƑƐƑ ѵƓѷ ƐƔ ƐƐ ƑƖƓ ƐѶƕ ƒƖ ƐƓ ƐƔ ƒ Ƒƕ &ş"l;ub1-ŐƑő ƐƔƐ Ɩѵ Ɣƕѷ Ѷ Ƒ ƐƏƖ ѵѶ ƒƓ Ƒѵ ƕ Ɠ ƑѶ bm r;uঞ-Ŗ ƐƓƔ ƐƑѵ ƐƔѷ ƑƔ ƐƖ ƐƏƐ ѶƖ ƐƖ ƐѶ ƐƏ ƕ

$o|-Ѵv|-@ņ]uo|_ 152,891 156,188 4% 8,495 8,300 127,455 130,094 16,947 17,794 1,919 1,742

www.internationalaccountingbulletin.com | 49 world survey | asia-pacific

asia-pacific associations: fee data

Fee Fee split (%) Rank Name income Growth Audit & 11omঞm] Year end 2020 ($m) assurance services Tax Advisory Other Ɛ u-b|ŖŐƐő ƐķƏƑƖĺƏ ƐƓѷ ѵƑ Ɛƒ Ѷ ƐƏ ƕ ;1ŊƑƏ Ƒ -bmѴo0-ѴŖ ƒѵƒĺѵ Ɛѷ ƔƐ Ƒ Ɛ Ɠƒ ƒ ;1ŊƑƏ ƒ ŖŐƑő ƒƐƑĺѶ ŊƓѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ;1ŊƑƏ Ɠ ѴѴbmb-ѴѴo0-ѴŖŐƒő ƑѶƖĺƑ ƓƔѷ ƒƔ ƑƏ ƑƏ Ɛƕ Ѷ ;1ŊƑƏ Ɣ )ouѴ7b7;b|_ ƑѵƏĺƏ ƐƐѷ ƔѶ ƐƔ ƐƏ Ɛƒ Ɠ ;1ŊƑƏ ѵ oubvom"bŖ ƐѶѵĺƕ ŊƐƏѷ ѵѶ ѵ ƕ Ɛƕ Ƒ ;1ŊƐƖ ƕ Ѵo0-Ѵņ;-7bm] 7];ѴѴb-m1;Ŗ ƐƕƐĺƔ ŊƐƐѷ ƒƑ ƑƓ ƑƑ ƑƐ Ɛ ;1ŊƑƏ Ѷ m|;um-ঞom-Ѵ ƐѵѶĺѵ ѵѷ ƔƑ ƑƑ Ɩ ƐƐ ѵ ;1ŊƑƏ Ɩ ubl;Ѵo0-ѴŖ ƐƐƔĺѵ ŊƓѷ ƓƑ ƑƐ ƑƐ ƐƑ Ɠ -ŊƑƏ ƐƏ m|;um-ঞom-ѴŖ ƐƏƕĺƖ Ѷѷ ƑƔ ƒƏ ƐƑ Ɛѵ Ɛƕ ;1ŊƑƏ ƐƐ "Ѵo0-ѴѴѴb-m1;Ŗ ѵѶĺƖ Ɩѷ ƑƓ ƒƑ Ƒƕ ƐƓ ƒ ;1ŊƑƏ ƐƑ !m|;um-ঞom-ѴŖ ѵƕĺƒ ŊƐƓѷ Ɠƕ Ɛƕ ƐƖ Ɩ Ѷ mŊƑƏ Ɛƒ Ŗ ѵƓĺƓ ŊƔѷ ƑƔ ƐƔ Ƒƕ ƑƑ ƐƐ ;1ŊƑƏ ƐƓ m|;]u-m|;um-ঞom-ѴŐƒő ƓƏĺƒ ƑƓѷ ƓƏ ƑƏ ƑƏ ƐƏ ƐƏ ;1ŊƑƏ ƐƔ mr-1|ŐƓő ƒƏĺƑ ŊƐѵѷ ƔƏ ƐƑ ƐƓ Ɛƒ ƐƐ ;1ŊƐƖ Ɛѵ 0-1v)ouѴ7b7;ŖŐƔő ƑѶĺƏ ѵƔѷ ƑƑ ƑƔ ƒƐ Ɛѵ ѵ ;1ŊƑƏ Ɛƕ uorŖ ƐƖĺѵ ƐƑѷ ƒƕ Ɛƕ Ƒƕ Ɛƒ ѵ ;1ŊƑƏ ƐѶ m|;-Ŗ ƐѵĺѶ Ɩѷ ƑѶ ƒƕ ƐƐ Ƒƒ Ɛ ;1ŊƑƏ ƐƖ m|;um-ঞom-ѴŖ ƐƓĺƒ ƑƑѷ Ɠѵ ƐѶ Ɛѵ ѵ ƐƓ ";rŊƑƏ ƑƏ "m|;um-ঞom-ѴŐƒő ѵĺѵ ƓƓѷ ƐƐ ƓƖ ƑƏ Ɩ ƐƑ ;1ŊƐƖ ƑƐ m|;um-ঞom-ѴŐƒő ѵĺƏ ƓƏѷ ѵƏ Ɛƕ ƐƏ ƐƏ ƒ ;1ŊƑƏ ƑƑ &ş"Ѵo0-Ѵ ƔĺƐ ƐƖѷ Ɣѵ Ŋ ƐѶ Ƒѵ Ŋ ;1ŊƑƏ Total revenue/growth 3,372.3 7%

50 | February 2021 | International Accounting Bulletin world survey | asia-pacific

asia-pacific associations: staff data

Total staff Partners Professionals Admin staff Offices Rank Name Growth 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Ɛ u-b|Ŗ ƐƖķƔƕƒ ƐѶķƔƓƖ ѵѷ ѶƕƑ Ѷƒƒ ƐѵķѶƓƔ ƐѵķƏƑѵ ƐķѶƔѵ ƐķѵƖƏ ƐƕƔ ƐƕƔ Ƒ -bmѴo0-ѴŖŐƐő ƓķѵƓƓ ƒķѶƓƑ ƑƐѷ ƐѵƖ ƐƒƏ ƓķƐѵƓ ƒķƓƕƐ ƒƐƐ ƑƓƐ ƔƐ ƓƑ ƒ oubvom"bŖ ƓķƐƖƐ ƓķƑƒƏ ŊƐѷ Ƒƕѵ Ƒƕƕ ƒķƒƓƓ ƒķƒƐѶ ƔƕƐ ѵƒƔ ѶƑ ƖƐ Ѵo0-Ѵņ;-7bm] 7]; Ɠ ƓķƐѶƓ ƓķѵƔƕ ŊƐƏѷ ƑƔѶ Ƒƕƕ ƒķƏƕѶ ƒķƐƏѵ ѶƓѶ ƐķƏƐƓ ƐƑѶ Ɛƒƕ ѴѴb-m1;Ŗ )ouѴ7b7;b|_ Ɣ ƒķѵƏƒ ƒķƕƖƔ ŊƔѷ ƒƖѵ ƒƕƖ ƑķƒƏѶ ƑķƓѵƖ ѶƖƖ ƖƓƕ ƐƐƑ ƐƐƓ ŐƑő ѵ m|;um-ঞom-Ѵ ƒķƔƒѵ ƒķƔƓƐ Əѷ ƑƔƏ ƑѵƏ ƑķƖƑƕ ƑķƖƏƏ ƒƔƖ ƒѶƐ ƖƔ ƖƔ ƕ ubl;Ѵo0-ѴŖ ƑķѶƓƓ ƑķƕƏƐ Ɣѷ ƑƕƖ ƒƒƔ ƐķѶƔѵ ƐķƖƒƐ ƕƏƖ ƓƒƔ Ɩƕ ƐƏƑ Ѷ !m|;um-ঞom-ѴŖ ƑķѵѶƔ ƑķƕѶƖ ŊƓѷ ƐѶѵ ƑƐѵ ƑķƑƏƓ ƑķƑƔƏ ƑƖƔ ƒƑƒ ƕƒ ƕƔ Ɩ ŖŐƒő ƑķƒƐѵ ƑķƓƑƏ ŊƓѷ mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 mĺ7 ƐƏ m|;um-ঞom-ѴŖ ƑķƑƔƔ ƑķƐƏѶ ƕѷ ƑƏƑ ƐѶѶ ƑķƏƔƒ ƐķƖƑƏ Ŋ Ŋ ѶƑ ƕƒ ƐƐ ѴѴbmb-ѴѴo0-ѴŖ ƑķƏƖƓ ƐķѶѶѵ ƐƐѷ ƑƏƑ ƐѶƑ ƐķƔѵƑ ƐķƓƏƕ ƒƒƏ ƑƖƕ ѵƕ ѵƑ ƐƑ Ŗ ƐķƔƒѶ ƐķѵƕƏ ŊѶѷ ƐƑƔ ƐƒƓ ƖƑѵ ƐķƏƐƑ ƓѶƕ ƔƑƓ Ɠƕ ƔƑ Ɛƒ "Ѵo0-ѴѴѴb-m1;Ŗ ƐķƒƕƖ ƐķƒѵƑ Ɛѷ ƐƑƔ ƐƑƏ ƐķƏƐƔ ƐķƏƐƖ ƑƒƖ ƑƑƒ ƒƐ ƑƖ ƐƓ m|;]u-m|;um-ঞom-Ѵ ƐķƐƑƖ ƔƓѵ ƐƏƕѷ ƐƑƒ ѵƐ ѶƑƒ ƒƖѵ ƐѶƒ ѶƖ ƑƓ ƑƐ ƐƔ mr-1|Ŗ ƐķƏƓƏ ƐķƒƑѶ ŊƑƑѷ ѶƑ ƐƑƕ Ѷѵƒ ƐķƏѶƑ ƖƔ ƐƐƖ Ɠƕ ƔƐ Ɛѵ uorŖ ѶƖƐ ѶƕƑ Ƒѷ ƕƒ ѵѶ ƔƑѵ ƔƐƐ ƑƖƑ ƑƖƒ ƐƐ ƐƏ Ɛƕ m|;um-ঞom-ѴŖ ƕƒƑ ѵƖѶ Ɣѷ ѵƓ ƔѶ ƓƑƒ ƒƕƖ ƑƓƔ ƑѵƐ ƒƓ ƒƏ ƐѶ 0-1v)ouѴ7b7;ŖŐƓő ѵƖƕ ƖƖƑ ŊƒƏѷ ƕƕ ƓƖ ƒƖƒ ƕƖƐ ƑƑƕ ƐƔƑ ƒѵ ƑƓ ƐƖ m|;-Ŗ ѵƕƖ ѵƕƏ Ɛѷ ѵƏ ƔƔ ƓѶѵ ƓƖƑ Ɛƒƒ ƐƑƒ ƒƐ ƒƐ ƑƏ m|;um-ঞom-Ѵ ƒƑƒ ƒƏƖ Ɣѷ Ƒѵ Ƒѵ Ƒѵƕ ƑƔƓ ƒƏ ƑƖ Ɛƕ ƐѶ ƑƐ "m|;um-ঞom-ѴŖ ƐƖƏ Ɛƒƒ Ɠƒѷ ƑƐ ƐƏ ƐƓѶ ƐƐƑ ƑƐ ƐƐ ƐƑ Ɣ ƑƑ &ş"Ѵo0-Ѵ ƐƔѵ ƐƓƕ ѵѷ Ɛƒ Ɩ ƐƐƕ ƐƏѶ Ƒѵ ƒƏ Ɩ ƕ $o|-Ѵv|-@ņ]uo|_ 60,679 59,245 2% 3,879 3,794 46,328 44,954 8,156 7,817 1,261 1,244

www.internationalaccountingbulletin.com | 51 world survey | firm movements

wworldorld survey:survey: ffirmirm movementsmovements

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network/ association FIRM ADDITIONS, MERGERS & ACQUISITIONS

Abacus Worldwide M&A: l;u];7bm|o0-1v)ouѴ7b7;ĺ

52 | February 2021 | International Accounting Bulletin world survey | firm movements

network/ association FIRM ADDITIONS, MERGERS & ACQUISITIONS

www.internationalaccountingbulletin.com | 53 world survey | firm movements

network/ association FIRM ADDITIONS, MERGERS & ACQUISITIONS

Added: -1bm|_oŐu-bѴőķş-u|m;uvŐ_bm-őĺ INAA Group Lost: hঞuorŐ!vvb-őķ"oѴঞomѴѴb-m1;Ő&u]-őķ" Ő&őķ;m|;"uŐ_bѴ;őĺ Added: b71b-Ő"bm]-rou;őķuo;m|u;Ő-Ѵ-vb-őķ-m7oĺŐ_bѴbrrbm;vőķ-m-];l;m|Őu-bѴőķ 7bঞm]olr-mŐ(b;|m-lőķ (v;vou;v lru;v-ub-Ѵ;vŐov|-!b1-őķ!" bm-m1b-Ѵ";ub1;vŐ-u0-7ovőķbm|;mĽv7lbmbv|u-ঞomşomvѴঞm]ĺ(ĺŐ"ubm-l;őķ ouub]-mvvo1b-|;vŐ&őķ -Ѵb|-u|m;uvŐ!vvb-őķ0u-_blѴ_-|-0b7b|u;-Ő"-7bu-0b-őķ"_-u|;u;711om|-m|vŐ& őķ m|;]u-m|;um-ঞom-Ѵ !_-u|;u;711om|-m|vŐ& őķ-ऀdlvdm-Ѵb+#Ő$uh;őķ$$şvvo1b࣐vŐ u-m1;őķourou-|;m-Ѵv|-m7omvѴ|-m| Őm7b-őķ 0b|"|;;u0;u-|m]l0Őv|ub-őĺ Lost: Ѵ;"1oşvvo1b-|;vŐ&"őķ"Ő& őķ!v|-]bŐm7b-őĺ Added: u;v|omo-l0bt;Őo-l0bt;őĺ Lost:"_-m|o"_-m|;vŐ_bm-őķ -m7;h;uşoĺŐm7b-őķ! -m7oĺŐm7b-őķv-|u-mvŐul;mb-őķѴ;b1o|_-u|;u;7 11om|-m|vŐ;uv;őķu7-_Ѵo]";;mŐou-őķŐ!vvb-őķ ;Ѵ]-7oķ-u-7b-]-şvo1b-7ovŐom7u-vőķu;v|om;v_-l Ѵ=-m7ş u;v|omm|;um-ঞom-Ѵ oĺŐ ]r|őķ-|ub1h)om]şoĺŐ-m-7-őĺ M&A: u7;m|vvo1b-|;vl;u];7b|_$uv|=oulbm]u;v|omu7;m||uv|Ő"bm]-rou;őķ7b| bm-m1b-Ѵuorl;u];7b|_ (;u]-u-şvo1b-7ovŐoѴbb-őķ-u|o=u;v|om"l;u];7b|_u;v|om!=oulbm]u;v|om "Ő;b1oőĺ Added: -;uomvѴ|ou;vŐ"r-bmőķ_-|;u;711om|-m|vŐ,bl0-0;őķu-omvѴ|ou;vŐ-m-l-őķ)-u0-7b|Ő-b|őķ" 7ovm|;um-ঞom-Ѵ -Ѵ|-ķ;7b|Ő$uh;őѴ"-Ѵ-l-Ő"őĺ Lost: (omvѴঞm]ŐoѴol0b-őķbu-7b|Ő--hv|-mőķ7ov;uŐ;uőĺ Lost: "bhb1_Ő&"őķŐ&"őķѴ;şoĺŐ&"őķ"(Ő&"őķov|Ѵ;|_-b|;ş;;ubѴѴ;Ő&"őķ|Ő&"őķ u;;7-b1hŐ&"őķ;lr;u Ѵo0-Ѵņ;-7bm] Ő&"őķ)bvvŐ&"őķ+;oş+;oŐ&"őķ ;-m ou|omŐ&"őķ-m;oul-mŐ&"őķѴ-uv-u|m;uvŐ&"őķ!ovhŐb|_-mb-őķ"YbmŐѴ]-ub-őķ Edge Alliance Ő;ul-mőķ_-ll-7 -uootŐ-hbv|-mőĺ M&A: -u1l-1tbu;7"ho7-bmoমŐ&"őĺ

--uv Added: ll-mŐou7-mőķb-l;Őb];uőķ;Ѵ]u-7;Ő";u0b-őĺ

54 | February 2021 | International Accounting Bulletin world survey | firm movements

network/ association FIRM ADDITIONS, MERGERS & ACQUISITIONS

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www.internationalaccountingbulletin.com | 55 Market and competitive intelligence solutions

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