Tuesday, September 05, 2006

CPA Firms Grow as Fast as Teenage Boys

Commerce Clearing House just released a study where Top 100 firms outside the Big Four had average growth of almost 22% in 2005 (Big Four firms grew at a more than respectable 14.7%). Jonathan Hamilton of Public Accounting Growth attributed the earnings growth to the profession's responsiveness to changes in the business and regulatory environment. Overall, Deloitte and Ernst and Young led the still-dominant Big Four while Midwestern-headquartered McGladrey, Grant Thornton, Seidman, Crowe, Mayer Hoffman and BKD solidfied their claim to legitimate "Second Six" status with McGladrey and Crowe having particularly good years. The strongest growth was in the Northeast and West with each in excess of 18% revenue growth but all regions exceeding 10% growth.

Congratulations to the larger CPA firms on their success this year. Hopefully, smaller CPA firms are doing as well.


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