Top 25 survey 2018: UK outlook for global accounting networks

The UK accounts for 10% share of global fee income from the global networks and associations with total UK revenue hitting $19.4bn, up from $18.8bn year on year, despite the threat of Brexit and increasing scrutiny of the audit market, reports Amy Austin

Total UK revenue for the Top 25 networks and associations hit $19.4bn (£25.5bn) in 2017, a 5.3% increase year-on-year from $18.8bn, suggesting that a weak pound and Brexit uncertainties have failed to have a negative effect on revenue. UK business forms an integral part of global revenue, accounting for 10% of the Top 25’s global fee income.

The Big Four continue to dominate the UK market in much the same as they do the global market; however, despite combined revenue growing to $15.4bn (2016: $14.3bn), their overall share has fallen by 4% to 76%. Although Deloitte’s revenue has grown 11% to hit $4.5bn (2016: $4bn), the firm was still unable to leapfrog PwC, which holds on to the top spot with revenues of $4.8bn (2016: $4.5bn), a growth of 4.6%.

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