Accounting FirmsBusiness

RSM global revenues surge to £5.32bn

The increase marks the second consecutive year of double-digit growth in consulting services for RSM, driven by an ‘increasing need for support’ by middle market businesses navigating the pandemic.

RSM, the global audit, tax and consulting network, has announced its global revenues increased to $7.26bn (£5.32bn) in 2021, up by 15.8% compared to the previous year’s total of $6.3bn (£4.62bn), which was reportedly driven by a rise in global demand.

RSM witnessed growth across all of its service lines and regions over the past 12 months. This was led by consulting services, which saw the highest gains at 38.2%, followed by accounting at 18.7%, tax at 8.4% and audit at 7.6%.

In Europe alone, RSM recorded 276 deals in the first half of 2021 which equated to two transactions completed by firms in the region per day across a six-month period.

General business consultancy services in particular grew by 128% year-on-year as the middle market looked to adopt innovative new solutions. This includes developing new solutions powered by artificial intelligence and automation technology, and data analytics.

Additionally, digitalisation has also seen cybersecurity issues increase resulting in 19% growth in RSM’s Risk Advisory Services in 2021.

Jean Stephens, global CEO of RSM International, said: “Over the past year, global companies of all sizes have had to confront uncertainty and the accelerated change sparked by the pandemic. For middle market businesses this has been a chance to turn challenges into an opportunity.

“RSM professionals from around the world have worked exceptionally hard to empower our client base of highly dynamic, entrepreneurial, and ambitious businesses to thrive during this challenging time. This has required new perspectives, innovative approaches and a forward-looking gaze.”

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