Baker Tilly sees global revenue grow to $3.4B
Baker Tilly International reported Monday worldwide revenue grew 6.4 percent across its global network of accounting firms, reaching $3.4 billion by the end of last year.
Meanwhile global headcount increased 10.2 percent across the network, with 33,600 people now working at 796 offices in 147 countries and territories.
Growth occurred in each service category. Audit and assurance services comprised approximately 36 percent of total revenues ($1.2 billion, up 7.5 percent); while advisory services accounted for 25 percent ($857 million, up 8 percent); tax services made up 25 percent ($849 million, up 3 percent); and accounting services comprised around 14 percent of total revenues ($494 million, up 2 percent).
North America remained the largest market across the network, with revenues of $1.6 billion, followed by Europe at $987 million.
Asia Pacific was the network’s fastest growing region, despite economic challenges in some markets. The combined revenues in the Asia Pacific region grew 13 percent, driven by China. The total staff numbers across the region increased 22 percent.
Baker Tilly firms made a number of acquisitions in the U.S. and formed some strategic partnerships in Europe. “2017 was another strong year for the Baker Tilly International network,” said of Baker Tilly International CEO and president Ted Verkade in a statement. “As our member firms continue to grow through strong organic growth and strategic expansion, our focus remains resolutely on building long-term relationships with our clients. Our ongoing investment in technology, infrastructure and talent ensures we are positioned to continue to deliver superior client service to an increasing international client base.”