Nexia International, the accounting network, saw revenues reach $2.9bn (£1.8bn) in 2013, a 3% rise on the previous year.

The largest share of Nexia's fee income came from the US ($1.41bn). Despite economic pressures, Europe accounted for the second largest tranche of income at $1.16bn, followed by Asia Pacific ($250.5m), Latin America ($47.5m) and Africa and the Middle East ($43.6m). Based on European revenues, Nexia overtook Baker Tilly for seventh place in the rankings.

The network increased its membership with new member firms in Mongolia, Bangladesh, Egypt, Poland, Bulgaria, Uganda, the Bahamas and Saudi Arabia. These additional firms resulted in a 4% rise in total staff to 23,131, based across 604 offices.

Kevin Arnold, CEO of Nexia International, said: 'These results reflect the success of our growth strategy which is to recruit high quality firms in key and emerging markets.'