Survey
World Survey 2014
International Accounting Bulletin
Shortly after the merger announcement,
Ruihua requested to be a member of both
RSM International and Crowe Horwath
International. Both organisations said the
situation is specific to China and that the
networks will, in all other markets, “remain
mutually respectful competitors”.
When questioned on what the future may
hold, Crowe Horwath International chief
executive Kevin McGrath tells IAB: “My
guess is that Ruihua will look at its working
relationship with both networks and will
likely make a choice, eventually, between
networks, but I also believe the time frame
for that choice is months, if not years.”
For the Big Four it’s also been an eventful
year in terms of M&A. In November, EY
and KPMG signed a merger agreement in
Denmark, with the newly merged firm looking to operate under the EY name in a deal
that’s still subject to regulatory approval.
Prior to the merger, EY Denmark was
ranked as the fifth-largest firm in the country and the merger will more than double its
size, probably making it the second-largest.
The Danish market has been known as
fiercely competitive, with PwC merging
with Grant Thornton Denmark in 2011,
followed by Grant Thornton adding PKF
Kresten Foged as its member. KPMG is yet
to announce a replacement firm.
Shortly after the merger in Denmark
was announced, the Brazilian Competition
Authority (CADE) approved KPMG’s acquisition of BDO Auditores Independentes and
BDO Consultores in Brazil, over two years
■■ WORLD SURVEY 2014
Associations: fee data
Fee split (%)
Rank
2013
Name
Revenue
($m)
Growth
rate(%)
Audit &
Accounting
Tax
services
Management
consulting
Corporate
recovery/
Insolvency
Corporate
finance
Litigation
support
Year-end
Other
ASSOCIATIONS
1
Praxity
4,082.9
10%
48
22
11
1
1
1
16
n/a
2
LEA Global/Leading Edge
Alliance (1)
2,909.8
7%
47
33
14
2
1
2
1
Dec-13
3
GGI Geneva Group International
(2)
2,028.0
5%
28
30
23
6
5
4
4
Dec-13
4
PrimeGlobal
1,806.2
–11%
55
23
9
3
1
2
7
May-13
5
AGN International
1,667.0
4%
56
22
-
-
-
-
22
Oct-13
6
BKR International
1,360.0
2%
56
31
1
-
-
-
12
Jun-13
7
DFK International (3)
1,093.1
1%
50
28
6
2
3
4
7
Sep-13
8
IAPA (4)
1,073.4
2%
-
-
-
-
-
-
-
n/a
9
Morison International
772.9
7%
59
17
5
5
3
3
9
Dec-13
10
CPA Associates International
654.0
2%
47
32
12
-
-
-
9
Oct-13
11
MSI Global Alliance
623.9
12%
54
25
8
2
1
1
8
Dec-13
12
MGI
558.0
15%
-
-
-
-
-
-
-
Jun-13
13
KS International
349.0
8%
50
18
8
2
2
2
18
n/a
14
JHI Association
344.3
0%
44
35
7
2
1
1
1
Dec-13
15
Integra International
295.1
–1%
45
30
20
-
2
3
-
Oct-13
16
Enterprise Worldwide
292.8
0%
40
38
13
-
-
-
9
Dec-12
17
INPACT
270.9
–11%
53
28
12
1
1
1
5
Dec-12
18
EuraAudit International
239.1
–18%
67
17
7
-
1
-
8
Dec-13
19
ANTEA
236.7
10%
44
26
18
1
1
6
4
Dec-13
20
GMN International
175.7
5%
48
36
8
1
0
1
6
Sep-13
21
Parker Randall International
134.4
1%
55
25
15
5
-
-
-
Dec-13
22
UC&CS Global
86.0
–49%
50
37
13
-
-
-
-
Dec-13
23
Key Will Group
34.8
83%
62
15
9
-
-
-
13
Dec-12
24
ACEE
24.1
2%
50
20
-
-
-
25
5
Dec-13
25
Abacus Worldwide
15.3
351%
44
23
12
3
1
3
14
Dec-13
21,127.6
3%
Total revenue/growth
Notes