A surge in demand for traditional accounting services has led to mid-tier accounting firms growing by a faster rate than the big four consulting firms amid the COVID-19 recession.

Revenue at mid-tier firms rose 9.4 per cent to $2 billion whereas the big four consulting firms – Deloitte, Ernst & Young, KPMG and PwC – increased revenue by a collective 6.6 per cent to $9.1 billion, according to The Australian Financial Review Top 100 Accounting Firms list for 2020.