In this article, we will look at the 20 biggest accounting firms in the US. You can skip our detailed analysis of the accounting sector in the US and see the 5 Biggest Accounting Firms in the US.
Overview of the Accounting Sector in the US
The accounting services industry is growing and evolving. According to a report by IBIS World, the market size of the accounting services industry came up to $147.5 billion in 2023, when measured by revenue. The industry has grown around 1.8% in the US every year on average between 2018 and 2023. In fact, the market size of the accounting services industry grew by 2.7% in 2023 alone.
More than 590,000 individuals are employed in the American accounting services industry as of 2023. The employment rate has increased in the country over the years, growing an average of 1.5% between 2018 and 2023. The most recent data by the Bureau of Labor Statistics suggests that accountants and auditors earn around $79,880 per year in the US, which comes up to $38.41 per hour. While the typical entry-level educational requirement in the industry is a bachelor’s degree, there are little to no barriers to entry as the field does not necessitate work experience in a related domain.
Statistics from the Bureau of Labor Statistics further suggest that employment in this domain came up to approximately 1.562 million job positions in 2023. Accountants have a faster-than-average job outlook, with their estimated change in employment between 2023 and 2033 coming up to 6%. For reference, the average growth rate for all occupations is 4%. The industry is estimated to undergo a positive numeric change in employment between 2023 and 2033. As of 2024, the accounting services industry pays total wages of around $59 billion. According to the Bureau of Labor Statistics, the median annual wage for accountants was $79,880 in May 2023.
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The “Big Four” Accounting Firms
An overview of the accounting industry is incomplete without the mention of the Big Four: Deloitte, EY, KPMG, and PwC. They are the four biggest accounting networks in the world as measured by revenue, and are often grouped together informally because of their comparable size as compared to the rest of the industry. Considered comparable in their ability to provide professional accounting services, these companies are attractive networks for aspiring professionals in the field.
Deloitte, formally Deloitte Touche Tohmatsu Limited, ranks at the top of the Big Four list with the largest revenue. This multinational services network operates a number of subsidiaries, including Deloitte UK, Deloitte Deutschland, Monitor Deloitte, and several others. It provides consulting, tax, audit, and advisory services to some of the biggest firms across the world.
Apart from taking the lead in the accounting industry and streamlining operations, Deloitte is also working to enable a better world through sport. On August 9, Deloitte and the International Olympic Committee announced an expansion of their Worldwide Olympic Partnership. Deloitte will now act as the Games Technology Integration Partner for the Olympic Games, the Paralympic Games, and the Youth Olympic Games for the 2026 Olympic Winter Games Milano-Cortina through to the 2032 Olympic Games Brisbane. Through the expanded partnership, Deloitte will establish a new and innovative Games Platform and integrated technology infrastructure to ensure seamless technology operations in the Olympic Games.
Key Players in The Sector
CBIZ, Inc. (NYSE:CBZ) is one of the most prominent publicly traded accounting firms in the US. It offers accounting, financial, advisory, and insurance services to businesses based in the US and Canada. The company delivers its services through three distinct categories: Benefits and Insurance Services, Financial Services, and National Practices. It also runs a cyber risk management program. At the end of July, the company announced plans to acquire Marcum LLP and advisory services, solidifying its position as a leader in the professional advisory services sector. Entering into a definitive agreement to acquire Marcum LLP will make CBIZ (NYSE:CBZ) one of the largest accounting service providers in the US, with an annual revenue of approximately $2.8 billion.
This transaction will cover the non-attest business of Marcum, while its attest business will be concurrently acquired by Mayer Hoffman McCann P.C., which is a a national independent CPA firm. CBIZ (NYSE:CBZ) has held an Administrative Service Agreement with Mayer Hoffman McCann P.C. for more than 25 years. The transaction is valued to be around $2.3 billion, and is expected to be cash-and-stock, with approximately half of the transaction paid in cash and the remainder shares of CBIZ common stock. Once complete, the acquisition is expected to alter the accounting industry and the ranking of accounting firms in the country.
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Our Methodology
To compile a list of the 20 biggest accounting firms in the US, we considered market cap, annual revenue, and number of employees as metrics. We first consulted expert online sources to compile a list of the top 30 accounting firms in the US, and ranked them according to their annual revenue, our primary metric. We then chose the top 20 accounting firms for our list, including the number of employees as a secondary metric. We only included market cap for publicly traded companies, and preferred companies that had official data regarding revenue and number of employees. We prioritised the companies with official revenue data, and ranked those without official estimates at the end in ascending order of their number of employees. The 20 biggest accounting firms in the US are arranged in ascending order of their annual revenue estimates for FY 2023.
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20 Biggest Accounting Firms in the US
20. Armanino LLP
Market Cap: N/A
Revenue Estimate (FY2023): N/A
Number of Employees: 2,500+
Armanino LLP is an independent business consulting and accounting firm that offers financial services to privately held companies, public entities, and non-profit organizations. Its services include business management, audit, tax, and others, operated through a network of more than 2,500 employees. Armanino LLP ranks 20th on our list of the biggest US accounting firms.
19. Plante Moran
Market Cap: N/A
Revenue Estimate (FY2023): N/A
Number of Employees: 3,800+
Plante Moran ranks on our list of the largest accounting firms in the US and offers audit, consulting, tax, and wealth management services to a wide portfolio of clients across the globe. It has more than 3,800 employees in 23 offices across Ohio, Colorado, Michigan, Illinois, Mexico, Japan, India, and China.
18. Marcum LLP
Market Cap: N/A
Revenue Estimate (FY2023): N/A
Number of Employees: 4,000
Marcum LLP is a leading New York-based accounting and advisory firm which operates through 4,000 employees across the globe. It has around 52 offices across the US and in Ireland, Cayman Islands, and China. Marcum LLP takes the 18th spot on our list of the largest accounting firms in the US.
17. Moss Adams LLP
Market Cap: N/A
Revenue Estimate (FY2023): N/A
Number of Employees: 4,750
The 17th spot on our list of the 20 biggest accounting firms in the US is held by Moss Adams LLP. The company operates through a network of approximately 4,750 employees and provides tax, accounting, and consulting services to private and public middle-market companies and enterprises in the United States in various industries.
16. Withum Smith+Brown, PC.
Market Cap: N/A
Revenue Estimate (FY2023): $500 million+
Number of Employees: 2,400+
Withum Smith+Brown, PC. ranks 16th on our list of the 20 biggest accounting firms in the US, with a revenue estimate of more than $500 million as of FY 2023. This nationally-ranked public accounting and advisory firm provides services to individuals on a local-to-global scale and operates through more than 2,400 employees. It also offers other financial services, including valuation, accounting, business advisory, cybersecurity, digital transformation, and more.
15. Wipfli LLP
Market Cap: N/A
Revenue Estimate (FY2023): $546.4 million
Number of Employees: 3,100+
Wipfli LLP offers accounting, auditing, and bookkeeping services to private customers and businesses across the United States, ranking it 15th on our list. The firm has an annual revenue estimate of $546.4 million and more than 3,100 employees.
14. Eide Bailly LLP
Market Cap: N/A
Revenue Estimate (FY2023): $616.5 million
Number of Employees: 3,500
Headquartered in Fargo, North Dakota, Eide Bailly LLP is an American Trans-Mississippi public accounting and ancillary professional services firm. This regionally certified public accounting firm has an annual revenue estimate of $616 million as of 2023. It ranks 14th on our list of the biggest accounting firms in the US with around 3,500 employees.
13. CohnReznick LLP
Market Cap: N/A
Revenue Estimate (FY2023): $1 billion
Number of Employees: N/A
With an annual revenue estimate of around $1 billion as of FY2023, CohnReznick LLP ranks 13th on our list. The firm is a member of Nexia, which is a global network of independent consulting and accounting firms. It also has offices in its global subsidiaries, which include India, the Phillipines, and Cayman Islands.
12. CBIZ Inc. (NYSE:CBZ)
Market Cap: $3.45 billion
Revenue Estimate (FY2023): $1.591 billion
Number of Employees: 7,000
With over 120 offices and nearly 7,000 employees, CBIZ Inc. is a national insurance, financial, and advisory service provider. Headquartered in Cleveland, Ohio, the firm has a market cap of around $3.45 billion and an annual revenue estimate going up to $1.591 billion as of FY 2023. It ranks 12th on our list.
11. Forvis Mazars
Market Cap: N/A
Revenue Estimate (FY2023): $1.68 billion
Number of Employees: 46,000+
The 11th spot on our list of the 20 biggest accounting firms in the US is held by Forvis Mazars, a leading financial services and accounting firm with an annual revenue estimate of around $1.68 billion as of FY2023. It is an internationally integrated partnership and employs more than 46,000 individuals in more than 95 countries globally in its member firms.
10. CliftonLarsonAllen
Market Cap: N/A
Revenue Estimate (FY2023): $2 billion
Number of Employees: 9,000
With an annual revenue estimate reaching the $2 billion mark, CliftonLarsonAllen ranks tenth on our list. This professional services firm was founded in 2012 after the merger of two US firms: LarsonAllen LLP and Clifton Gunderson LLP. CliftonLarsonAllen is a CLA Global accounting network member, with more than 9,000 employees.
9. Baker Tilly
Market Cap: N/A
Revenue Estimate (FY2023): $5.2 billion
Number of Employees: 44,000
Baker Tilly employs more than 44,000 individuals across the globe, making it one of the leading accounting firms in the US. Officially known as Baker Tilly Virchow Krause, LLP, this full-service accounting and advisory firm has an annual revenue estimate of around $5.2 billion, ranking it in the ninth place on our list of the 20 biggest accounting firms in the US.
8. Crowe Horwath
Market Cap: N/A
Revenue Estimate (FY2023): $5.3 billion
Number of Employees: 5,000
Crowe Horwath takes the eighth spot on the list of the largest accounting firms in the US, with an annual revenue estimate coming up to $5.3 billion as of FY2023. Headquartered in Chicago, Illinois, this public accounting, consulting, and technology firm specializes in tax, finance, and management. It operates through a network of around 5,000 employees.
7. Grant Thornton
Market Cap: N/A
Revenue Estimate (FY2023): $7.5 billion
Number of Employees: 73,000
Headquartered in Chicago, Illinois, Grant Thornton is a licensed independent CPA firm that offers attest services to Grant Thornton Advisors LLC, its portfolio of clients, and its subsidary entities. The company is the American member firm of Grant Thornton International, which is the seventh largest accounting network across the globe when considered in terms of combined fee income.
6. RSM US, LLP.
Market Cap: N/A
Revenue Estimate (FY2023): $9.4 billion
Number of Employees: 17,000
RSM US LLP is a tax, audit, and consulting firm that specializes in the middel market in Canada and the United States. It is a member of RSM International, a global accounting network. The firm has an annual revenue estimate of around $9.4 billion as of FY2023. It operates through a vast network of more than 17,000 employees, ranking it sixth on our list.
5. BDO USA, PC.
Market Cap: N/A
Revenue Estimate (FY2023): $14 billion
Number of Employees: 97,000
BDO USA, PC is the fifth largest accounting firm in the US. It is the US member firm of the global accounting network BDO International, and has an annual revenue estimate of around $14 billion as of FY 2023. BDO USA, PC employs more than 97,000 employees, and is headquartered in Chicago, Illinois.
4. KPMG
Market Cap: N/A
Revenue Estimate (FY2023): $36 billion
Number of Employees: 273,424
KPMG stands for Klynveld Peat Marwick Goerdeler, and is a multinational professional services network that is a part of the Big four accounting firms. The company has an annual revenue estimate of around $36 billion as of FY2023, ranking it in the fourth spot on our list of the largest accounting firms in the country. KPMG has around 273,424 employees.
3. Ernst & Young LLP
Market Cap: N/A
Revenue Estimate (FY2023): $49.4 billion
Number of Employees: 395,442
Commonly known by its trade name EY, Ernst & Young LLP is another member of the Big Four accounting firms. This multinational professional services partnership is one of the oldest in the world, and offers specialized tax, consulting, assurance, and transaction services to clients across the globe. It has more than 700 office locations in around 150 countries around the world, and employs more than 395,442 individuals.
2. PwC
Market Cap: N/A
Revenue Estimate (FY2023): $53.1 billion
Number of Employees: 364,000
PricewaterhouseCoopers, more commonly known as PwC, ranks second on our list of the biggest accounting firms in the US and is a part of the Big Four accounting firms. It has offices in 151 countries across the globe, and operates through a diverse network of more than 364,000 employees. PwC has an annual revenue estimate of around $53 billion as of FY2023.
1. Deloitte
Market Cap: N/A
Revenue Estimate (FY2023): $64.9 billion
Number of Employees: 457,000
Deloitte Touche Tohmatsu Limited, more commonly referred to as Deloitte, is the largest professional services multinational network in terms of both the number of employees and revenue. It ranks at the top of the list of the Big Four accounting companies, followed closely by EY, KPMG, and PwC. Deloitte operates in around 150 countries across the globe, offering consulting, audit, risk advisory, financial advisory, and legal services for more than 175 years. Its annual revenue came up to $64.9 billion in 2023, with operations managed by more than 457,000 around the world.
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