DUBLIN: Fee income at Ireland’s Big Four accountancy firms grew to almost € 1 billion in 2014 for the first time, new figures compiled by The Irish Times’ business database Top1000.ie show.
In total, the four firms generated €993.3 million in fees last year, up by 12.3 per cent on the €884 million earned in 2013, illustrating the extent to which the firms are benefiting from the economic revival.
In the period 2010-13 for example, PricewaterhouseCoopers (PwC) grew its island of Ireland fee income by just 0.7 per cent.
Profitability among the Big Four is not known, as partnerships are not required to disclose their financial information.
PwC, whose audit clients include DCC, Smurfit Kappa and Bank of Ireland, has retained its spot as the largest accountancy firm operating in Ireland, with fee income of €329 million for 2014, up by 9.3 per cent on the previous year.
Employment at the firm, which reports on an all-island basis, also advanced, up by 7.3 per cent to 3,041.
Ronan Murphy, senior partner at PwC, said that the increase in fees was “reflective of our recovering economy, continued investment by FDI and, more recently, greater confidence amongst the SME sector”.
Looking ahead, he expects revenue growth to continue in line with the economic recovery.
