Baker Tilly International has announced global revenues of $5.2bn for the financial year ended 31 December 2023, up 11% on the previous year or 12.2% at constant exchange rates.
The accounting network has grown by nearly 30% since 2020.
There was expansion in all regions across the network in 2023. Europe was the fastest growing region at 17% in US dollar terms, followed by Latin America (16%), North America (11%) and Asia-Pacific (3%).
Growth in Latin America and Asia-Pacific was significantly more when measured in local currency – 22% and 7% respectively – given the strength of the US dollar over the year.
Among the larger markets in 2023, with more than 15% growth, were Austria, Belgium, the Channel Islands, Greece, Luxembourg, Mexico, Netherlands, Singapore, South Korea, Turkey, the UK and the US.
Channel Islands revenue increased by 19% year on year.
Service lines growth
All service lines saw double-digit growth. Advisory was the fastest at 12.3%, followed by tax at 12% and assurance and accounting at 10%. The smallest service line, legal services, grew by 16%.
Headcount rose by 4.5% globally to 43,000, with 3,380 partners worldwide.
Ewan Spraggon (pictured), Managing Director of Baker Tilly Channel Islands, commented: "I'm proud of the significant growth we've achieved in our region and the contributions we've made to the network's overall success.
"We are excited about building on relationships with our international colleagues and the opportunities that lie ahead in 2024 and beyond."