Auditors defy the economic crisis: Big Four continue to focus on growth

Undeterred by the economic downturn, the leading auditing firms are recording solid growth. KPMG and Deloitte in particular stand out with robust results and make consulting the driver of their expansion.

Solid growth despite economic uncertainties

The leading auditing firms in Germany are defying the economic crisis and continuing to grow. KPMG and Deloitte in particular were able to significantly increase their total operating performance in the 2023/24 financial year. While KPMG grew by almost ten percent to 2.61 billion euros, Deloitte narrowly overtook KPMG for the first time and recorded a total operating performance of 2.65 billion euros.

The industry as a whole is stable: according to a survey by Lünendonk & Hossenfelder, the auditing sector will continue to achieve growth of over six percent in 2025. Jörg Hossenfelder, Managing Partner of the market research company, emphasizes: "Economic downturns have rarely harmed auditors." The obligation to audit sustainability reports in particular is proving to be a sales driver.

Consulting services as a sales driver

While the traditional core business of auditing remains stable, the consulting segment has long since developed into a key growth driver for the Big Four. Deloitte and KPMG now generate up to 75 percent of their turnover with management consulting, tax consulting and legal services. Both companies recorded growth of around ten percent in their consulting divisions - despite a difficult environment in which many companies have cut their consulting budgets.

PwC, on the other hand, the market leader in Germany, suffered a decline of two percent in its consulting division last year. Nevertheless, PwC is optimistic about 2025 and plans to return to growth.

Deloitte on course for expansion - KPMG remains stable

Deloitte's continued dynamic growth is particularly noteworthy. Over the past five years, Deloitte has increased its overall performance by 52 percent and established itself as a serious competitor within the Big Four. This growth is primarily due to the expansion of the consulting segment, which has given Deloitte a new market position.

KPMG also achieved impressive annual growth of nine to ten percent and is sticking to its strategy, which focuses on digitalization, sustainability and regulation. KPMG's Head of Germany Mattias Schmelzer is optimistic. The focus on transformation and business performance will continue to be in demand from clients, even in a challenging environment.

International expansion: KPMG on the rise

KPMG also scored well at a global level. With revenue growth of 5.1 percent to 38 billion dollars, the company achieved the strongest growth among the Big Four. However, Deloitte remains the undisputed global market leader with a global turnover of 67 billion dollars, followed by PwC and EY with 55 billion and 51 billion dollars respectively.

The strong international presence underlines the relevance of the Big Four in a globalized business world. KPMG in particular benefits from its strategy of driving innovation in the areas of technology and sustainability.

Conclusion: stability and growth in challenging times

The Big Four remain a guarantee for stability and growth - even in a difficult economic environment. With a clear focus on consulting and digitalization, they are maintaining their position as indispensable partners for companies worldwide. Deloitte and KPMG are setting new standards, while PwC and EY are catching up. The auditing sector shows that crises also offer opportunities - and the Big Four are well prepared to take advantage of them.

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