PKF International moves up to 11th in IAB world survey
According to the recently published International Accounting Bulletin world survey, most global accounting organisations recorded substantial growth in spite of the recent economic problems. PKF International were ranked 11th under Leading networks by fee data (from 14th in 2007) with a healthy growth rate of 17 per cent. It is hoped that 2009 will see PKF International continue this positive progress up the rankings.
The combined fee income of networks was USD $130 billion. Although 2009 year-end results will provide a more accurate picture of how the global crisis has affected accounting firms, it seems that the accountancy sector has been less hit than other types of financial services.
The Asia-Pacific region saw strong growth in a number of countries including China, Australia, Japan and Malaysia. The survey also reported a shift from corporate finance activities towards business recovery, restructuring and services related to insolvency.