The Australian Financial Review Top 100 accounting firms for 2018 billed $11.3 billion revenue. Amongst the top 100 firms there is a big divergence in firm revenue, with PwC number 1 with $2.35b, and Suntax number 100 with $4.33m.
Ninety-two of the accounting firms recorded positive growth in fees for the year, with only 8% going backwards. Each of the 100 accounting firms have been impacted by two industry wide trends:
- Compliance fees are stagnant or falling as technology drives fees lower.
- Business advisory is the fastest growing part of their business.