The Nation’s Top 10 Accounting Firms
Accounting, also called “the language of business”, is the means by which financial information about businesses is relayed to various parties. Accounting firms have a vital role to play in this aspect and they do provide the essential services that businesses will require. In this issue, the Top 10 of Malaysia takes a look at the nation’s top 10 accounting firms, listed in no particular order.
Also part of the Big Four auditing firms is Deloitte Touche Tohmatsu Limited, more commonly known as Deloitte. As the second largest professional services network in the work, Deloitte provides audit, tax, consulting, enterprise risk and financial advisory services. The firm employs some 182,000 employees that are spread across 150 countries. Deloitte KassimChan and its affiliates provide these services in Malaysia and is part of Deloitte Southeast Asia Ltd.Deloitte Southeast Asia was established to cater to the demands of the increasingly intro-regional and fast growing companies and enterprises.
Ernst & Young
The fourth accounting firm to make the Big Four is Ernst & Young and was founded in the 19th century. Its headquarters is now located in London and has 695 member firms in more than 140 countries across the world. The services it provides include assurance, advisory, tax and transaction advisory
PwC or PricewaterhouseCoopers as it was previously known is the world’s largest audit and accountancy firm and one of the Big Four auditors. Headquartered in London, PwC spans over 771 cities in 158 countries including Malaysia and boasts a strong body of more than 169,000 people supporting its operations.PwC began its operations in Malaysia (then Malaya) as early as 1900 and since then it has been supporting large MNCs, public sector entities and Malaysian companies by delivering solutions to them through its assurance, tax and advisory services.
One of the Big Four auditors, KPMG’s global headquarters is situated in the Netherlands. The audit firm employs some 140,000 people in its member firms scattered across the globe. The Malaysian arm of the KPMG network of firms is KPMG DesaMegat& Co. It was established in 1983 and now has 66 partners and more than 1,600 staff in 10 offices.
The fifth largest accountancy network in the world, BDO International was founded in 1963 as the Binder Seidman International Group through a convergence of firms form the UK, Netherlands, Germany, the US and Canada. Then in 1973, the abbreviation BDO which stands for Binder DjikerOtte& Co was adopted.Since then, the firm has grown tremendously and now serves clients in 135 countries with almost 48,800 people working out of its 1,118 offices.
A global professional services network, Grant Thornton International and its member firms operate in 521 cities in more than 113 countries across the world. Its Malaysian arm SJ Grant Thornton was established in 1974 and has four offices with the main office situated in Kuala Lumpur. Its other offices are situated in Kuantan, Johor Bahru and Penang. It has 13 partners, directors and principals and more than 250 personnel supporting its operations.
Crowe Horwarth International
Crowe Horwarth International was founded in 1907 and is ranked among the top 10 accounting firms in the world providing audit, tax, advisory, risk and performance services. It boasts personnel of 2,500 and has 150 independent accounting and management consulting firms that have offices that are spread out in over 580 offices across the globe.
Baker Tilly MonteiroHeng
Baker Tilly is ranked the eighth largest accountancy and business service network and has 572 offices which employ more than 26,000 staff in 114 countries. An independent member-firm of Baker Tilly International, Baker Tilly MonteiroHeng is Malaysia’s second largest mid-tier accounting firm with local offices in Kuala Lumpur, Penang, Melaka, Seremban and BatuPahat as well as a branch office in Cambodia.
Halim & Lee
Halim & Lee was established in 1983 and is a firm of chartered accountants providing accounting, payroll, insolvency, advisory, tax, auditing and corporate services. Situated in Damansara, the firm is helmed by its two partners – Kevin Lee Chew Yam and Hasan bin Husin.
DFK International is ranked among the top 10 accounting firms and business advisors and has been offering its services to the public for more than 50 years. DFK has 202 member firms and 308 offices worldwide with its headquarters situated in London. It has a total of 1,179 partners and more than 10,040 staff in its offices across the world. In Malaysia, the independent member of DFK International is Folks DFK & Co.