RSM said on Tuesday that its worldwide revenue hit a firm-record $9.4 billion for the financial year ending in December 2023, a 16% increase over its 2022 result of $8 billion.

Jean Stephens

“This year’s financial results further cement our status as the leading global provider of professional services to the middle market. Powered by our 2030 Global Strategy—Taking Charge of Change—RSM has worked collaboratively as a global organization more than ever before to innovate and better serve clients across borders,” RSM International CEO Jean Stephens said in a statement. “With an emphasis on the generation and sharing of insight, streamlining the efficiencies and effectiveness of service provision, and building connectivity through an enhanced global digital infrastructure, RSM is focused on providing innovative and valuable human insights powered by technology.”

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All regions showed growth, especially Europe, which grew by 36% compared to 2022 as a result of sustained development across 33 member firms and the addition of RSM Ebner Stolz in Germany. North America, RSM’s largest region by revenue, saw a 13% rise in revenue, powered by significant growth in both tax and consulting services, particularly in relation to IT and ESG consulting. A strategic merger in South Africa last July, coupled with overall progress across the region, contributed to a 29% leap in revenue during the 2023 financial year, RSM said. The MENA (Middle East and North Africa) region grew by 30% over 2022, and Latin America saw an 18% increase in revenue. Representing more than $1 billion in revenue, the Asia Pacific region grew by 8%, according to RSM.

Global revenue for accounting and audit services rose by 13% to $3.6 bilion, while RSM’s tax revenue jumped by 17% to $2.6 billion. Consulting revenue totaled $3.1 billion, representing a 16% increase over last year.

RSM’s headcount worldwide increased by 13% to 64,000.