'Billion-Dollar Club' Has Its 16th Member Accounting Firm

There are now 16 public accounting firms in the U.S. that surpassed the billion-dollar mark in revenue during their most recent fiscal year, according to the newly released top 500 firms ranking for 2024 from INSIDE Public Accounting.

New York City-based CohnReznick joined the “billion-dollar club” with revenue of $1.05 billion. There were 15 firms that surpassed $1 billion of revenue last year.

Forvis Mazars—the result of a deal between Springfield, MO-based Forvis and New York City-based Mazars USA that became official in early June—was eighth in total revenue with $2.15 billion. Forvis was in the eighth spot last year, while Mazars was 31st. The rest of the top 10 firms remain in their same spots as last year.

The other change in the top 16 firms was in the 11th and 12th spots, where CBIZ & MHM and Crowe flipped positions (CBIZ & MHM went from 12th to 11th, while Crowe fell from 11th to 12th).

The accounting firm in the 17th spot, Eisner Advisory Group, is about $151.3 million short of joining the billion-dollar club.

The top 16 accounting firms in the U.S. by revenue are:

1. Deloitte: $32.66 billion
2. PwC: $23.53 billion
3. EY: $21.50 billion
4. KPMG: $14.60 billion
5. RSM US: $4 billion
6. BDO USA: $2.88 billion
7. Grant Thornton: $2.36 billion
8. Forvis Mazars: $2.15 billion
9. CLA (CliftonLarsonAllen): $2 billion
10. Baker Tilly: $1.71 billion
11. CBIZ & MHM: $1.35 billion
12. Crowe: $1.33 billion
13. Marcum: $1.32 billion
14. Moss Adams: $1.26 billion
15. Plante Moran: $1.10 billion
16. CohnReznick: $1.05 billion

There will be a big shake-up in the top 10 firms ranking come this fall, when CBIZ’s acquisition of Marcum becomes official. Once the deal closes, the combined firm will have approximately $2.8 billion in revenue, which will likely vault CBIZ & MHM over Grant Thornton into the seventh spot in the top 10, just behind BDO USA.