Top 75 Firms survey 2019: record revenue despite heightened scrutiny

After a difficult year for the dominant Big Four accounting firms, harsh criticism of audit quality and market concentration, not to mention the launch of a number of hard-hitting reviews into the audit sector, revenue in Accountancy Daily's Top 75 Firms Survey 2019 has soared to a record £15.75bn across the leading UK firms with staff hires rising. Philip Smith analyses current trends, financial performance and the future outlook

In the face of mounting economic uncertainty and unprecedented scrutiny, the UK’s top accountancy firms are maintaining a bull run that stretches back to 2010. Now in its ninth year of continuous growth, the sector has not only survived what some might see as the annus horribilus of 2018, but has flourished, boosting income, staff levels and profits.

Accountancy’s annual Top 75 survey reveals a 5.4% increase in fee income among the UK’s largest accountancy firms. Altogether, these 75 firms recorded £15.75bn in fee income, up from the previous survey’s £14.95bn. Staffing levels are also on the up, increasing to more than 95,000, although the number of partners has fallen to below 6,000.

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