Why it matters: Mid-tier firms outgrow the big four as consulting demand slows
Context: Firms that focus upon core auditing, accounting and tax services are thriving
What next: Leaders to move even more work offshore as staffing remains an issue
Strong demand for traditional auditing, accounting and tax services, along with fast-growing consulting offerings, helped boost annual revenue at mid-tier accounting firms by a breakneck 17 per cent, to $2.8 billion.
This outpaced the overall 12 per cent growth of Australia’s largest accounting firms in the year to June.
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correction —
This article has been updated after Lineage clarified that Haymes Paint and Chris’ Foods were foundation clients of Lineage, not new clients. In addition, Lineage also clarified that about 40 per cent of the firm’s work is traditional tax, compliance and advisory services, not M&A-related work.
Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
