Accounting firms play a critical role in the global business landscape, providing essential services such as auditing, tax advisory, and consulting to clients of all sizes and industries. In this article, we will take a closer look at the top 10 accounting firms in the world as of 2020, as well as some key trends and facts about the accounting industry.
Top 10 Accounting Firms in the World 2020
- Deloitte Touche Tohmatsu Limited
- PwC (PricewaterhouseCoopers) International Limited
- Ernst & Young (EY) Global Limited
- KPMG International Cooperative
- BDO International Limited
- RSM International Limited
- Grant Thornton International Ltd.
- Crowe Global
- Nexia International Limited
- Mazars Group
These firms are among the largest and most prestigious in the industry, with a global presence and a wide range of services for clients across various sectors.
Accounting Industry Trends Factsheet
- Digital Transformation: The accounting industry is undergoing a significant digital transformation, with firms leveraging technologies such as artificial intelligence (AI), machine learning (ML), and blockchain to enhance their services and streamline their operations.
- Outsourcing: Outsourcing of accounting services is becoming increasingly popular, as companies seek to reduce costs and focus on their core business functions. Outsourcing firms can provide cost-effective solutions for bookkeeping, tax preparation, and other accounting services.
- Regulatory Compliance: The regulatory landscape for accounting firms is becoming more complex, with new regulations and standards being introduced regularly. Firms must stay up-to-date on these changes to ensure compliance and avoid penalties.
- Talent Shortage: The accounting industry is facing a talent shortage, with a growing demand for skilled professionals and a limited pool of qualified candidates. Firms are investing in talent development programs and leveraging technology to attract and retain top talent.
- Sustainability Reporting: Sustainability reporting is becoming an increasingly important aspect of accounting services, as companies face pressure to disclose their environmental, social, and governance (ESG) practices. Accounting firms are expanding their sustainability reporting services to meet this demand.
- Focus on Advisory Services: Accounting firms are increasingly focusing on advisory services, such as management consulting, risk management, and technology consulting, to differentiate themselves and provide more value to clients.
In conclusion, the accounting industry is undergoing significant changes and facing new challenges, but the top firms in the world continue to provide high-quality services and drive innovation in the industry. As technology and regulatory requirements continue to evolve, accounting firms must adapt and innovate to remain competitive and meet the changing needs of their clients.