February 27, 2021

Deloitte Rules Chicago

And it's not even close! Over at Crain's, Claire Bushey reports on the pecking order of the largest accounting firms in the Windy City:

In 2014, New York-based accounting giant Deloitte stood head-and-shoulders above other Big Four firms in Chicago, raking in fees totaling more than $76.5 million from companies here. In the local market, a $31.8 million gap separates the firm from its next-closest competitor, PricewaterhouseCoopers. Rounding out the Big Four, Ernst & Young collected $39.3 million in fees and KPMG had $29.5 million. The data from Audit Analytics of Sutton, Mass., are based on auditor information reported to the Securities and Exchange Commission by 70 publicly traded companies in the city.

According to the report, Deloitte enjoys this wide margin, in part, to the influx of Andersen refugees that joined the firm in the wake of its collapse with "clients in tow." The firm's largest Chicago-based clients include Boeing, CNA Financial and Hyatt Hotels.

FWIW, Andersen's demise also sent a bunch of people to Grant Thornton, making it the largest among the second-tier with $3.3 million in fees ahead of McGladrey's $1.6 million and BDO's $1.1 million. The sum of those three firms' revenue is less than one-fifth of what Boeing paid Deloitte last year.

[Crain's]

Image: Raysonho/Wikimedia Commons

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