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14 July, 2006 - 15:54 By Staff Reporter

Local stars among Business Weekly’s Fab 50 accountants

The fall-out continues over the accounting abuses at Enron and WorldCom but there are signs that Britain’s top practices are bouncing back, writes Alastair Macdonald.

The fall-out continues over the accounting abuses at Enron and WorldCom but there are signs that Britain’s top practices are bouncing back, writes Alastair Macdonald.

Fee income tumbled at the height of the scandals but turnover has risen in the last year, according to Accountancy Age, which has just published its Top 50 league table based on fee income over the last year.

East of England business advisory firms are doing exceptionally well and have helped to drive a rise from static revenues of £6.3bn to more than £6.7bn – an increase of over 65 per cent.

PricewaterhouseCoopers retains number one slot in the Fab 50 rankings with UK fee income in the last year of £1,78bn – up 12 per cent.

Deloitte holds onto second spot with fee income of £1.55bn – up 14.4 per cent while KPMG has enjoyed a thumping rise of 20 per cent in earnings to £1.281 bn.

Grant Thornton tucks into fifth place with turnover of £284.1m (up 11.5 per cent) and Baker Tilly is 7th on £183.9m turnover (up 6.4 per cent).

Other members of Business Weekly’s own ‘Fab 50’ include PKF in 9th place with turnover of £116.8m (3 per cent ahead on last year) RSM Robson Rhodes – up 14 per cent to £85.5m, MacIntyre Hudson (up 7.8 per cent to £22.9m), Price Bailey, with turnover of £11.7m (up 4.3 per cent), and Streets – which climbs two rungs higher in the elite ladder – with turnover of £9.9m, an increase of 16.6 per cent.

 

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