INSIDE Public Accounting Releases Annual Ranking of the Top 400 Accounting Firms

The publishers of INSIDE Public Accounting (IPA), the award-winning newsletter for the public accounting profession, today released the annual ranking of the nation’s 400 largest public accounting firms.

Rankings of The IPA 100…Now in its 29th year, the IPA 100 lists the 100 largest public accounting firms in the U.S., by net revenue. The IPA 100 is made up of the Big 4, which collectively generated over $60 billion in U.S. revenue last year, and 96 national, regional and local firms. The annual rankings and accompanying analysis paint a comprehensive picture of the state of the profession.

Newcomers to The IPA 100…Three firms debuted on the IPA 100 in 2019: No. 91 Tulsa, Okla.-based HoganTaylor LLP; No. 98 Houston-based Briggs & Veselka Co.; and No. 99 Clifton, N.J.-based Sax LLP.

The 2019 IPA 400 Firms…IPA also ranks the next tier of accounting firms, Nos. 101-400.

The 2019 IPA 400 rankings can be accessed here.

Highlights of the 2019 IPA 100 Public Accounting Firms…The Big 4, Deloitte, PwC, EY and KPMG collectively make up nearly 75% of the total U.S. revenue of this year’s IPA 100. Due to their size, IPA excludes metrics of the Big 4 in its analysis. The remaining 96 firms represent $22.2 billion in total revenues and employ more than 100,000 staff. Excluding the Big 4, 45 firms are represented in the IPA $100 Million Club, all with annual revenues exceeding $100 million.

  • Organic growth (excluding mergers) grew this year to 6.7%, up from 6.3% in 2018.
  • More than 110 acquisitions (both traditional CPA firms as well as other non-CPA firms) were reported, pushing the overall growth rate to 9.9%, also up slightly from the 2018 all-growth rate of 9.4%.
  • Organic growth in net income grew to 9.9% this year, an increase from 6.4% in 2018. Factoring in acquisitions, net income growth is up to 12.2%.
  • Average equity partner billing rates now top $450 per hour for the IPA 100.
  • Professional staff turnover (CPAs and other client-serving staff) averaged 16.2% for the IPA 100; with 1 in 5 IPA 100 firms averaging more than 20% professional staff turnover.
  • Eight female managing partners are now at the helm of the IPA 100 firms for the first time since IPA began tracking this data.
  • Average annual equity partner compensation at the IPA 100 is now $660,000.
  • One out of 11 equity partners / owners in a CPA firm are not licensed CPAs.

“As firms continue to expand service lines and seek to hire the most qualified staff to serve clients in many non-traditional services, we’re seeing more non-CPA professionals in the ranks of the IPA 100,” says Mike Platt, principal with INSIDE Public Accounting. “In fact, we discovered that 28% of all client-serving professionals at IPA 100 firms indicated they have no intentions of pursuing a CPA license.”

In-Depth Financial and Operational Benchmarking of the Accounting Profession…Financial and operational analysis of 550 public accounting firms will be published in late September in the 2019 INSIDE Public Accounting National Benchmarking Report.

Subscribe to the IPA newsletter to receive the upcoming benchmarking analyses and in-depth interviews with key leaders within the profession. IPA offers a complimentary news source, the IPA INSIDER E-News Update. Sign up online.

Purchase any of the 2019 IPA benchmarking products, including the IPA National Benchmarking Report, to gain insider strategies.

To interview or engage the partners at INSIDE Public Accounting, please contact Chelsea Summers at (317) 733-1920 or

Samet & Company PC Announces Dennis Giangregorio Admitted as Partner

Dennis Giangregorio

Samet & Company of Chestnut Hill, Mass., (FY18  net revenue of $12.1 million) announces that Dennis Giangregorio has been admitted as a partner in audit and attest services.

He is experienced in a broad range of industries, including manufacturing, logistics services, SaaS, construction, non-profit organizations and employee benefit plans.

“We are pleased to promote Dennis. Since starting at the firm, he has continued to demonstrate strong technical expertise, tremendous client service and dedication to the firm,” says Jay A. Kessler, managing shareholder of Samet.

Samet has more than 60 staff members and is a member of The International Accounting Group (TIAG), a global alliance of independent accounting firms.

More news from Samet & Company

McKonly & Asbury Announces New Principals

Shalane Cohen

Camp Hill, Pa.-based McKonly & Asbury (FY18 net revenue of $9.6 million) announces that two professionals have been admitted to the leadership team as principals, Shalane Cohen and Danielle Guinter.

Danielle Guinter

Cohen and Guinter both joined McKonly & Asbury in 2005. They each have 14 years of audit experience and are leaders in the firm’s assurance and advisory practice. They work out of the Camp Hill office.

Cohen primarily works with clients in employee benefit plan and manufacturing industries. She is active on the firm’s LEAN Committee and is also involved with recruiting and finding talent for the practice.

Guinter works with clients in the construction, employee benefit plan and manufacturing industries.

More news from McKonly & Asbury

Wallace Plese + Dreher Admits New Partner

Christopher T. Coots

Christopher T. Coots

Chandler, Ariz.-based Wallace Plese + Dreher (FY17 net revenue of $8.4 million) announces the admission of Christopher T. Coots to the partnership.

Coots has more than 20 years of professional accounting experience and provides tax planning and consulting services to partnerships, corporations, estates and trusts. Working with privately held businesses and their owners, he develops tax plans maximizing cash flow and minimizing tax liabilities.

Before pursuing his accounting career, he practiced as an estates and trusts attorney serving individuals and families.

Iverson Admitted as Partner at Rushton

Gail Iverson

Gainesville, Ga.-based Rushton & Company (FY17 net revenue of $4.9 million) has admitted Gail Iverson to the partnership group.

Iverson serves as the firm’s business services manager, working with several hundred small business owners and managers in all financial aspects of their operations.

She manages periodic financial statements for clients, reviews them and assigns staff members to work with new clients to bring solutions for data processing and their payroll services. Iverson also applies her expertise to tax planning and preparation.

Rushton has more than 40 professional staff. In addition to general business operations, Rushton offers financial expertise in a number of specific industry fields such as construction, agribusiness, government, health care, not-for-profit organizations, professional services, manufacturing and distribution.

Bauknight Pietras & Stormer Admits New Partner

Ben Glenn

Bauknight Pietras & Stormer (FY17 net revenue of 9.8 million) of Columbia, S.C., announces it has admitted a new professional into its partnership group: Ben Glenn, who joined the firm 14 years ago.

The firm now employs 70 people, in part because of growing national expertise in the insurance industry. Glenn represents property and casualty companies and captives from the tax perspective.

He consults on the formation of new captive insurance companies, consulting on risk transfer and risk distribution matters key to the formation of a captive insurance enterprise. In addition, his experience includes successfully defending captive insurance companies in IRS examinations and submitting private letter ruling requests to the IRS.

Russell Bauknight

Managing shareholder, Russell Bauknight, says, “What makes the addition of Ben to the BPS leadership team and board of directors so gratifying is that he joined BPS 14 years ago and has focused his energy on client service and developing his leadership skills. Today, Ben is a highly sought-after consultant in the areas of captive insurance and telecommunications, which in turn has contributed to BPS’ growth.”

Glenn also advises individuals, corporations and partnerships on tax planning and compliance.

DGN Admits Edward to Partnership

Trina B. Edwards

Trina B. Edwards

Dennis Gartland & Niergarth (FY17 net revenue of $7.4 million) of Traverse City, Mich., has announced that Trina B. Edwards has been admitted as an audit partner.

Edwards joined the firm in 2008 and has 24 years of experience in public accounting, including work with governmental entities such as county, city, township and village audits as well as non-profit entities. A member of DGN’s government/non-profit team, she is experienced auditing many grant funds through a variety of agencies.

Dennis Gartland & Niergarth is northern Michigan’s largest locally owned, full-service public accounting firm with nearly 50 staff.

Russell Bauknight Named Managing Shareholder of Bauknight Pietras & Stormer

Russell Bauknight

Bauknight Pietras & Stormer (FY17 net revenue of 9.8 million) of Columbia, S.C., announces that Russell Bauknight has been elected to serve as the firm’s managing shareholder. He succeeds Ken Bauknight, who has served as BPS’ managing shareholder since the firm was established in 1991.

During Ken Bauknight’s nearly three decades of service as managing shareholder, BPS has grown to nearly 50 CPAs and a total team of 70. He will continue in his role as a BPS shareholder and client tax advisor. He began his career as an Internal Revenue Service agent in Houston before becoming a senior tax manager with Big Eight global accounting firms Ernst & Whinney and PriceWaterhouse.

Russell Bauknight is also one of BPS’ founders and has focused his 28 years with the firm on building the firm’s clientele. Prior to establishing BPS, he was a senior tax manager with Ernst & Young and its predecessor firms, Arthur Young and Clarkson Harden & Gantt. Among his most recognizable clients is the estate of James Brown, the “Godfather of Soul.” He is credited with rebuilding the depleted estate through effective management of Brown’s music library so that it continues to benefit the legendary artist’s charitable and personal interests.

Russell Bauknight also serves as a board member of PrimeGlobal’s world board of directors as well as its North American board. “I’m really excited to serve as managing shareholder and look forward to strengthening BPS’ position as a preferred business partner and trusted advisor; providing our clients with the highest level of tax, assurance and consulting services; and giving our team a great place to grow professionally as well as personally.”

McKonly & Asbury Acquires Brewer & Company

Kurt Trimarchi

Camp Hill, Pa.-based McKonly & Asbury (FY17 net revenue of $9.8 million) announces its acquisition of Brewer & Company LLC and the addition of an office in Bloomsburg, Pa.

Owner Daniel Brewer and staff provide tax and business services, with expertise in audit, tax compliance and back-office consulting. Brewer and staff will continue operating from their existing office, and the eight employees will become part of the McKonly & Asbury team.

“The additional resources available by being part of a regional accounting and advisory firm will permit us to provide a wider array of services and expertise to our clients and community,” Brewer says.

For McKonly & Asbury, the acquisition provides a geographic expansion and new talent to support future growth while providing clients with added depth of services.

Kurt Trimarchi, MP of McKonly & Asbury, says, “Since our founding, our approach has been to grow organically as well as to acquire firms with a similar culture and superior client service mindset. The effort we have put into this acquisition is to strive for an excellent outcome for our clients, our team and our firm, and this is certainly an exciting step forward for McKonly & Asbury.”

McKonly & Asbury Takes Ownership in Dale Carnegie Mid-Atlantic Franchise

Camp Hill, Pa.-based McKonly & Asbury (FY17 net revenue of $9.8 million) announces its partnership with Dale Carnegie Mid-Atlantic, a long-standing client of the firm.

On Jan. 1, McKonly & Asbury became an owner of the Dale Carnegie Mid-Atlantic franchise, which is recognized consistently as one of the top 10 franchises in the world by Dale Carnegie & Associates. Founded in 1912, Dale Carnegie has evolved from one man’s belief in the power of self-improvement to a performance-based training company with offices in over 85 countries.

“We see this partnership with Dale Carnegie as an extension of services that McKonly & Asbury can provide to our clients so we can continue to be a true business partner for them. It expands the depth and breadth of our expertise in the areas of leadership, team-building and people development while broadening our footprint into the Maryland, northern Virginia, Washington, D.C., and West Virginia marketplaces,” says MP Kurt Trimarchi. “We are confident that these new service offerings will allow us to develop deeper relationships with existing clients and to open doors to new ones.”

Dale Carnegie designs programs that offer people the knowledge, skills and practices they need to add value to the organization. “For over a century, Dale Carnegie has been improving individual and business performance around the world,” the firm says in a statement. “While their training techniques continue to evolve, their core principles remain true to a single vision: real transformation begins within.”

Dale Carnegie offers programs in leadership, management development, customer engagement, service, sales, communication, and other related programs.