Australia’s biggest accounting firms are ramping up marketing spends, upgrading technology and award fewer pay rises as they strap in for a “roller coaster” year amid the broader economic downturn.

The big firms are predicting a “rocky” year ahead despite recording an impressive 14.5 per cent jump in revenue to $14.09 million in the 2022 financial year compared with 2021, the Australian Financial Review Top 100 Accounting Firms list revealed.