Praxity Accounting Firms Reach Record Revenue in 2020
NATIONAL OFFICE – Accounting firms in Praxity Global Alliance have achieved record combined global revenues of U.S. $6.96 billion for the year ended December 31, 2020—an increase of 9.1 percent in real terms (8.9 percent at constant exchange rates). The impressive growth continues an extraordinary sequence of 14 years of consecutive record-breaking revenues, reinforcing the position of Praxity, AISBL, as the world’s largest alliance of independent accounting and consulting firms.
U.S.-based firm BKD CPAs & Advisors is a charter member of Praxity™, an association that helps accounting professionals connect and exchange expertise in 111 countries. Through the Alliance, member firms assist businesses globally by working in multidisciplinary teams to help clients operating across international borders anywhere in the world.
“The Praxity Global Alliance is a way for BKD to collaborate with like-minded firms and provide global access to services and support for international issues,” BKD CEO Ted Dickman said.
Results for 2020 show combined revenues of Praxity member firms increased in every sector and region of the world last year, reinforcing the Alliance’s global presence. BKD’s extensive COVID-19 response, paired with new services, contributed to the rising numbers.
Graeme Gordon, Praxity’s CEO, said: “In 2020, Praxity member firms not only achieved record combined revenues during a challenging period but this growth was mainly organic. Staffing levels increased by only 4 percent and there was very little change in partners, both of which suggest better use of resources and internal, organic growth rather than through mergers and acquisitions, or through the addition of new members to the Alliance.”
The record-breaking revenues cap a highly successful year for Praxity, in which the Alliance scooped the IAB Thought Leadership Initiative of the Year in 2020, having been voted Association of the Year four times in the past six years. Judges of the Thought Leadership award praised Praxity’s detailed COVID-19 guide, which provides “extensive information across G20 countries” to help businesses respond to the crisis.