Accounting Firms in Australia

Australia has its own three recognized professional accounting bodies that decide Australian accounting firms' accounting rules and regulations. These three bodies are the Institute of Public Accountants (IPA), CPA Australia, and the Institute of Chartered Accountants of Australia (ICAA).

The Big Four Accounting Firms in Australia comprise the major part of the accounting market. The services provided by the accounting firm in Australia primarily relate to the following –

• Audit and Assurance- The firm executes thorough and independent audits to reach the root cause of the accounting issues. It provides an effective solution to the problem to help the clients meet compliance.
• Tax- The tax service provides helping startups to set up business taxes and regulate employment tax issues. Moreover, it helps clients in various tax aspects like navigating GST and indirect taxes and other tax concessions.
• Financial Advisory- The accounting firm of Australia helps its clients provide corporate finance, restructuring consulting, and forensic advisory services with the help of their expert professionals. The clients are provided with a plethora of services. At the same time, they undergo mergers and acquisitions, which include determining the capital structure by valuing the target companies and helping in raising debt and equity from the capital markets. It helps aid in smoothening the working capital requirements for their clients, unlocking tied cash requirements.
• Consulting- The accounting firms provide consulting services for various aspects of strategies to the clients, including managing business risk, regulating human capital, helping in performance improvement, advising for executing effective strategy and growth, and providing technical advisory services.

Among the top accounting firms in Australia, the Big Four Accounting Firms has the biggest market share. They dominate the accounting industry of Australia by providing various services like audit, advisory, tax, and accounting. Let us discuss the top accounting firms in Australia:

PwC is one of the biggest accounting firms in Australia and has a global presence. PwC Australia has offices in Greater Western Sydney, Brisbane, Melbourne, Adelaide, Canberra, Gold Coast, Perth, and Newcastle. It has got approximately 5,800 employees and 500 partners. According to reports from 2016, PwC Australia has reported revenues of nearly $1.92 billion. The firm uses three main principles of being good, bold, and part of it to stay relevant in the accounting world and keep itself ahead of the competition in today's fast-paced society. In addition, the firm aims at solving the challenges of the coming days by staying connected, listening, and conversing.

This is another top accounting firm in Australia, focusing on the processes and integrity behind the formal audit report. The firm has a clear principle of focusing on quality, which is non-negotiable and imperative for this accounting firm. KPMG Australia reported revenues of $1.37 billion in the financial year of 2016 under the leadership of Duncan McLennan, who is the national managing partner of KPMG Australia. The accounting firm's main emphasis is on the quality of the audit and focusing on how the right opinion is reached and not just reaching the right opinion.

This accounting firm in Australia comes in the top ten list of accounting firms. This firm focuses on providing high-end audit services objectively and ethically to all its clients. Ernst & Young Australia commits to building a better working environment with the help of enhanced trust and confidence in business, sustainable growth, development of existing talent, and greater collaboration. As per Ernst & Young Australia's transparency report, the firm had reported revenue of $1.48 billion in the Fiscal year 2016, whereas its previous year's revenue was $1.28 billion.

This accounting firm's main objective is to make a purposeful impact and create a lasting difference. Keeping in mind the competition and keeping up with the competitors, the firm always invests in innovation, technology, skilled employees, and growth through acquisitions and alliances. It has 700 partners and nearly 7000 employees and has offices in Papua New Guinea and Timor- Leste. It has reported record revenues of A$1.76 billion in the financial year2017.

BDO Melbourne is another top accounting firm in Australia, located in the heart of Melbourne. It has specialized personnel for Audit, Corporate Finance, Risk Advisory, Transfer Pricing, Business Restructuring, Business Services, and Tax, to name a few. In addition, this accounting firm provides comprehensive business and corporate advisory services for its clients.

Pitcher Partners Melbourne is a top-notch accounting firm with 45 partners and more than 600 professional and support staff. They specialize in providing services to family-controlled and small public businesses and public sector organizations.

This is one of the world's leading independent assurance, tax, and advisory accounting firms. Their services include audit, tax, financial advisory, and consulting. This firm provides hands-on and proactive advice on all aspects of the strategies for sustainable growth. They also help clients comply with rules and regulations for improving business strategies and internal processes.

It is a leading association of chartered accountants and business advisors. It is listed in BRW's Top 100 Accounting Firms. They provide different accounting services with the help of specialized staff who have a balance of diverse, extensive local and international accounting knowledge.

This is a Sydney-based accounting, taxation, and consulting firm with a huge national and international resources network. This is an association of independent accounting and consulting firms with nine offices in Australia and New Zealand. This firm provides tailored commercial and innovative solutions to the client's financial challenges.

This accounting firm has a team of eight partners, four principals, and over 60 dedicated staff, which has increased over the years. They provide a wide range of accounting services like Accounting, Tax, Agribusiness, Business Consulting and Advisory, Financial Advice, Wealth Creation, etc.

We hope you liked this guide to the top 10 Accounting Firms in Australia. Here we discuss the overview of the Best Accounting Firms in Australia and their structure and industry dynamics. If you are looking forward to making a career in Accounting, then you can check out some of the awesome resources –

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