Who is no. 1 in Big 4?

Key Takeaways:

• Deloitte was the global revenue leader among the Big 4 accounting firms in 2023 and 2024.

• KPMG ranked second in both 2023 and 2024, followed by PwC and EY.

• Deloitte’s dominance was driven by its strong financial and consulting services.

• KPMG gained ground in the consulting market, narrowing the gap with Deloitte.

• PwC and EY remained strong in assurance and tax services, but faced challenges in other areas.

  Who is No. 1 in Big 4?

  Deloitte: A Consistent Leader

  Deloitte has consistently held the top spot among the Big 4 accounting firms based on global revenue. In 2023, Deloitte generated $59.3 billion in revenue, followed by KPMG at $53.7 billion. In 2024, Deloitte further extended its lead, reporting $62.7 billion in revenue, compared to KPMG’s $56.1 billion.

  Deloitte’s strength lies in its diversified portfolio of services, including financial audit, consulting, risk advisory, and corporate finance. The firm has a strong global presence, operating in over 150 countries.

  KPMG: Gaining Ground in Consulting

  KPMG has been the second-largest Big 4 firm by revenue in both 2023 and 2024. In 2023, KPMG reported revenue of $53.7 billion, and in 2024, it reached $56.1 billion.

  KPMG has made significant investments in its consulting practice, which has contributed to its growth. The firm’s consulting revenue grew by 8% in 2023 and 9% in 2024. KPMG has also focused on digital transformation and automation to enhance service delivery.

  PwC: Strong in Assurance and Tax

  PwC is the third-largest Big 4 firm by revenue. In 2023, PwC reported revenue of $45.3 billion, and in 2024, it reached $47.5 billion.

  PwC is known for its strengths in assurance and tax services. The firm has a strong global network of professionals and leverages technology to deliver high-quality services. PwC has also invested in advisory services, but its consulting business is relatively smaller than Deloitte and KPMG.

  EY: A Focus on Innovation

  EY is the fourth-largest Big 4 firm by revenue. In 2023, EY reported revenue of $40.4 billion, and in 2024, it reached $42.8 billion.

  EY has a strong focus on innovation and technology. The firm has invested in digital transformation and blockchain solutions. EY also has a well-established risk management practice and has been recognized for its work in environmental, social, and governance (ESG) reporting.

  Challenges and Opportunities for the Big 4

  The Big 4 accounting firms face numerous challenges and opportunities in the current business environment. These include:

  • Competition from mid-tier and boutique firms: The Big 4 firms face increasing competition from mid-tier and boutique firms, which often offer more specialized services and lower fees.

  • Technological disruption: The rapid adoption of technology is changing the accounting profession. The Big 4 firms must adapt to new technologies and leverage them to improve service delivery.

  • Regulatory changes: The Big 4 firms are subject to increasing regulatory scrutiny. They must comply with complex regulations and ethical standards to maintain their reputation and trust.

  • Emerging markets: The Big 4 firms see significant growth opportunities in emerging markets, where there is demand for high-quality audit, consulting, and tax services.

  • Sustainability and ESG reporting: The demand for sustainability and ESG reporting is growing. The Big 4 firms have the expertise to help businesses meet these demands.

    Conclusion

    The Big 4 accounting firms play a critical role in the global financial and consulting markets. Deloitte has been the consistent revenue leader, while KPMG has gained ground in consulting. PwC and EY remain strong in assurance and tax services, but face challenges in other areas. The Big 4 firms must address industry challenges and embrace opportunities to continue their growth and success in the years to come.