Top 10 Best Accounting Companies In India In 2023

INTRODUCTION

In recent years, accounting firms in India have seen a surge in demand for their services, as businesses and government organizations increasingly rely on professional accounting advice. This has led to an increasing number of international and domestic firms offering their services in India.

The Big Four accounting firms – Deloitte, Ernst & Young, KPMG and PwC – are the largest and most influential players in the Indian market. These firms offer comprehensive services such as auditing, tax compliance, consultancy, business strategy and other financial services. They each have offices in major cities throughout India, including Delhi, Mumbai, Bangalore and Hyderabad.

In addition to these major players, a growing number of Indian-owned accounting companies provide services to Indian businesses. These firms are typically smaller, but they often bring specialist expertise and can provide personalized services tailored to local markets.

Overall, the accounting industry in India looks set to continue to grow in 2023 as businesses seek professional advice and support in a rapidly changing and competitive landscape.

The combination of more extensive multinational firms and smaller local experts shows that India is well-placed to offer various options for companies looking for accountancy services.

IMPORTANCE

Accounting companies play an essential role in India’s economy. As of 2023, accounting services have become increasingly crucial as Indian businesses become more complex and globalized.

The rising demand for professional financial advice and audit services has led to a surge in the number of accounting firms in India. These companies provide critical services that help businesses manage their finances and comply with government regulations.

Companies rely on accounting services to ensure accurate budgeting, taxation, and other financial planning. Furthermore, accounting firms can help firms improve their profit margins by providing insight into cost-cutting measures and better decision-making.

Accounting firms also provide necessary oversight and guidance when firms wish to expand into new markets or launch new products. In addition, accounting firms offer invaluable advice on setting up internal controls, risk management, and corporate governance.

All these services are essential in helping businesses remain profitable and compliant with regulatory norms.

Here are the top 10 best accounting companies in India in 2023

KPMG India – KPMG India is a global network of professional services firms providing audit, tax and advisory services. Established in India in September 1993, KPMG in India today has offices across 16 cities – Ahmedabad, Bangalore, Bhubaneswar, Chennai, Coimbatore, Gurgaon, Hyderabad, Jaipur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Noida and Pune.

KPMG is a part of the international KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity.

KPMG India has more than 13,500 professionals operating from its offices located in major cities across India. It is organized into three main lines of services: Audit & Assurance, Tax & Regulatory, and Advisory services. By offering Audit & Assurance, Tax & Regulatory, and Advisory services, KPMG helps Indian businesses meet their compliance needs in accounting, finance, risk management, corporate governance, regulatory compliance and reporting.

KPMG India also assists clients in identifying opportunities for business growth and improved performance, helping them to deal with competitive pressures and ensure long-term success.

Further, KPMG India provides innovative solutions to address issues related to the business environment, emerging technologies, regulation, and other factors impacting the industry. This helps clients make informed decisions, improve operational efficiency, and capitalize on market opportunities.

They combine deep industry and functional expertise with an understanding of the changing marketplace to develop strategies and create value through sustainable and profitable growth.

In addition, KPMG India delivers a wide range of specialized services to its clients, including forensic services, transfer pricing, shared services, information security and data analytics, among others.

KPMG’s team of professionals have experience in various areas and possess expertise in financial management, strategic planning, operations and IT, and legal and regulatory affairs.

KPMG India provides organizations with insights and solutions that help them strengthen their internal systems, processes, and procedures. It is committed to delivering high quality, best in class services to its clients, helping them realize their goals and objectives.

Ernst & Young – Ernst & Young (EY) is a multinational professional services firm that provides assurance, tax, transaction and advisory services. It is one of the largest professional services networks in the world with 200,000 employees in more than 150 countries. EY’s global headquarters are located in London, England.

EY was founded in 1989 by Arthur Young and Ernst & Whinney. Its primary focus was providing financial services to companies, but it has since expanded its array of services to include consulting, transaction support, risk management and compliance, performance improvement, technology solutions, and human capital services.

EY provides a variety of services designed to help companies achieve their business goals. These include assurance services such as independent audits, review of internal controls, and attestation. Other services include tax planning and compliance, transaction services like mergers and acquisitions, divestitures, and capital raises, and advisory services such as strategy, organization and operations, and sustainability.

EY also offers risk consultancy and forensic services, performance improvement services to enhance effectiveness, and information technology solutions to streamline processes. Additionally, it provides a range of human capital solutions such as talent management, workforce optimization, HR advisory, and change management.

In addition to its core services, EY is also involved in various corporate social responsibility initiatives, such as the EY Women Ahead program which promotes gender diversity in the workplace. The company also runs the EY Foundation, which seeks to empower communities through education and entrepreneurship.

Overall, EY is an international leader in providing professional services for businesses and organizations of all sizes, from startups to large corporations. With its breadth of offerings, EY is well-positioned to help its clients grow and succeed.

Deloitte – Deloitte is one of the world’s leading professional services firms, providing audit, consulting, tax and advisory services to clients around the globe. Founded in 1845, Deloitte has grown to become the largest professional services network in the world with offices in more than 150 countries.

Deloitte’s global network of professionals works collaboratively to provide high-quality, comprehensive services that are tailored to meet the specific needs of each client.

Deloitte covers a wide range of industries, including financial services, manufacturing, technology, media, life sciences, retail, and consumer products. Its specialized capabilities include enterprise risk management, human capital management, corporate finance, mergers & acquisitions, tax compliance, internal audit, and valuation services.

Deloitte is dedicated to helping clients succeed by bringing business insights to their operations and enabling them to make smarter decisions and gain competitive advantages. Deloitte’s commitment to excellence and innovation drives its ability to develop new solutions and approaches to complex problems.

As a firm, Deloitte remains focused on developing the careers of its people and on building strong relationships with its clients. By combining its industry expertise, technological capabilities, and execution excellence, Deloitte helps clients better manage their businesses and achieve their strategic objectives.

PwC India – PwC India is a leading professional services firm that provides Audit, Tax and Advisory services to businesses across the country. With a presence in over 100 cities, they provide industry-leading insights and help organizations navigate complex business issues.

PwC India has been at the forefront of providing innovative solutions to businesses and governments, helping them reach their potential and create value for stakeholders. They have a team of experts across industries, who work together to provide tailored solutions and customized engagement models based on the unique needs of their clients.

PwC India is committed to delivering quality and reliable services to their clients. As part of this commitment, they have established stringent quality control systems and processes, which ensure the highest standards of service delivery and client satisfaction. Their commitment to excellence is reflected in their award-winning assurance practices, which are recognized both locally and internationally.

PwC India’s portfolio of services include, but are not limited to, audit and assurance, financial and risk management, tax and legal advice, technological consulting, business process outsourcing, as well as operational improvement initiatives.

They employ more than 20,000 professionals, including chartered accountants, lawyers, and industry experts, who strive to provide their clients with the best possible solution in every engagement.

Additionally, PwC India has a dedicated sustainability practice with the objective of helping companies build resilient operations while taking into consideration the environmental impact of their activities. They also aim to drive positive changes in the Indian economy and society through their wide range of social responsibility initiatives.

Overall, PwC India is a leader in providing innovative and cutting-edge professional services to its clients. With a long history of success in the country and an unyielding commitment to excellence, they seek to help businesses grow and succeed in an ever-evolving and competitive environment.

Grant Thornton India – Grant Thornton India is a leading professional services firm based in India. The company provides audit, tax, and advisory services to businesses, organizations, and governments, with a focus on helping them to unlock their potential for growth. With more than 760 partners and employee strength of over 11,500 people, the company serves clients in over 100 cities across India.

Grant Thornton India provides audit and assurance services that help organizations comply with regulatory requirements and improve risk management means. Their assurance services range from financial reporting and analysis to fraud investigation and internal control reviews.

They also provide tax compliance and advisory services, such as corporate advisory, international tax advisory, transfer pricing and technology-enabled GST consultancy.

The company also offers a wide range of advisory services, such as business transformation, IT consulting, corporate finance, insolvency, dispute resolution, and start-up assistance.

They have deep industry expertise in key sectors, including automotive, banking and financial services, energy and natural resources, infrastructure, leisure and hospitality, pharmaceuticals, retail and consumer products, technology and telecom.

In addition to its service offerings, Grant Thornton India has established strong relationships with a network of global firms, allowing their clients to access new markets and increase their international presence.

The firm is renowned for its commitment to quality, innovation, and customer satisfaction and has been recognized by various institutions, such as the World Bank, ICAI and Deloitte.

BDO India – BDO India is a leading professional services firm in India, providing assurance, tax, advisory and consulting services to a wide range of clients across various industries. It is the Indian member firm of BDO International, one of the world’s largest accounting networks with a presence in over 167 countries.

With its headquarters in Mumbai, it has offices in over 11 major cities including Delhi, Chennai, Bangalore, Hyderabad, Kolkata, Pune, Ahmedabad, Gurgaon, Jaipur, Kochi and Indore. The company is committed to delivering high quality professional services that meet the needs of its clients and partners.

BDO India has a team of over 4200 professionals, who are dedicated to ensure that the customer’s needs are met. They offer a range of services such as assurance, tax, advisory and consulting, financial & operational restructuring, corporate finance, internal audit & risk management and many more.

The company also provides specialized services in areas like technology & digital transformation, business process outsourcing, start-ups, cloud services, mergers & acquisitions and specializes in industry sectors such as automotive, consumer products, energy, hospitality & leisure, infrastructure, life sciences, manufacturing, media & entertainment and technology.

With the help of advanced technologies, BDO India offers high-end professional services that are tailored to the client’s specific needs to ensure compliance with relevant laws and regulations. These services are provided with a focus on accuracy and utmost professionalism.

Their aim is to enhance business value by providing timely, accurate and cost-effective solutions. In addition, they provide training and development opportunities to their employees, which enable them to keep abreast of changing trends in the market and technological advancements.

Nangia Andersen LLP –

Nangia Andersen LLP is a leading tax and Advisory firm in India. The group was founded in 1984. Nangia Andersen LLP has expanded rapidly to become one of the largest firms in India with over 900 professionals across offices in nine cities in India.  In 2019, the firm become member firm of Andersen Global having its headquarters in USA.  The firm specializes in providing solutions that help clients grow their businesses, manage risk, and stay compliant with regulations. The services they offer Tax, Accounting, M&A, Valuations, corporate law, transfer pricing, indirect taxes, Litigation support, Risk Advisory, Government and public Sector Advisory

They are dedicated to helping their clients achieve their goals by delivering exceptional client service and partnering with them to develop customized solutions. Their expertise combined with their global network ensures that clients receive superior service and advice on matters related to local and international laws. The team at Nangia Andersen LLP is committed to providing excellent and innovative solutions for clients as well as offering a wide range of experience and knowledge within the accounting and business consulting industries.

They provide value-added services to their clients by leveraging their deep understanding of the complexities of the international markets and their expertise. At Nangia Andersen LLP, they strive to foster an environment of trust and collaboration with their clients to ensure that their clients’ needs are met. The team at Nangia Andersen LLP is comprised of highly experienced professionals who are passionate about helping their clients reach their goals and providing innovative solutions to their business challenges.

S.R. Batliboi & Co. LLP – S.R. Batliboi & Co. LLP is a leading professional services firm in India, offering audit, tax, consulting, and financial advisory services to businesses, governments, and non-profit organizations. Founded in 1924 in Mumbai, the firm has grown from strength to strength and now has offices in 17 cities across India.

The company’s team of experienced professionals provide innovative solutions to their clients’ most challenging issues. Their areas of expertise include financial risk management, business restructuring, corporate governance, compliance, M&A, dispute resolution, and more.

They have been consistently ranked as one of the Top 10 Audit & Tax firms in India by the Indian government and industry bodies. S.R. Batliboi & Co. LLP strives to assist its clients in making informed decisions and taking appropriate actions to maximize value.

They also offer valuable training and development programmes to their staff to ensure that they are always up to date with the latest legal and regulatory developments. Above all, the firm is committed to providing excellent customer service and ensuring that their clients receive the best possible advice and guidance.

RSM India – RSM India is a leading professional services firm in India, providing audit and assurance, tax, consulting and financial advisory services to clients in diverse industries.

Founded in 1995, the firm has grown over the years to become one of the largest professional service firms in the country, with more than 2,500 professionals operating from 35 offices across 28 cities.

The firm is part of RSM International, the sixth largest global network of independent accounting and consulting firms, present in more than 120 countries around the world.

RSM India serves both Indian and multinational companies, as well as family-owned businesses and public sector enterprises. The firm’s services cover all aspects of accounting, tax, risk and compliance, corporate finance, transaction support, restructuring and insolvency, business process management and consulting. RSM India also offers specialist services such as forensic accounting, transfer pricing and litigation support.

The firm works closely with its clients throughout the life of the engagement, providing customized solutions based on the specific needs of each business. It has established an extensive network of international partners, allowing it to deliver seamless global services. RSM India also provides training and education, helping to develop individuals’ skills and knowledge of the industry.

RSM India is committed to providing the highest quality professional services to its clients, as well as creating value for their stakeholders. The firm subscribes to the highest standard of ethical behaviour, and continually invests in technology, processes, and people to ensure that clients benefit from the latest tools and methodologies.

Additionally, the firm places strong emphasis on employee development and welfare, fostering a culture of teamwork and collaboration.

DH Consultants LLP – DH Consultants LLP is a leading consulting firm based in London. Founded in 2017, the company provides financial services, data analytics and business strategy advice to organisations across a range of industries.

DH Consultants has borganizations reputation as a trusted partner, providing clients with tailored solutions that drive long-term results. The team consists of experienced professionals with a wealth of knowledge in the areas of finance, analytics and strategy, enabling them to provide bespoke advice and support.

The ethos of DH Consultants is centred around collaboration, trust and transparency. By listening closely to their clients’ needs and drawing upon their expertise, the team works together to develop innovative solutions that create value for the client.

This includes understanding the goals of the organisation, creating a detailed plan of action and using data-organizationhts to help inform decisions. With specialist teams dedicated to each area, DH Consultants provides a comprehensive range of services including risk management, budgeting and forecasting, project management and change management.

At the heart of DH Consultants’ success is its commitment to quality. All projects are completed with the highest standards of accuracy and attention to detail. The firm is also dedicated to helping clients to achieve their objectives through a combination of experience, innovation and creativity. As a result, DH Consultants has developed an enviable track record of delivering successful projects.

DH Consultants is committed to helping organisations reach their goals and make the most of their resouorganizationsraging their expertise and staying abreast of industry trends, the firm continues to be a leader in delivering customized solutions to meet the needs of its clients.

CONCLUSION

The accounting industry in India continued to grow in 2023, with many companies entering the market and providing services such as tax preparation, auditing, and financial consulting.

The number of qualified professionals increased significantly due to the rising demand for accounting services in the country. Companies also adopted new technology to streamline processes and increase efficiency.

The industry saw significant growth in terms of revenue which was mainly driven by the rise in compliance and regulatory requirements for businesses.

The newly introduced GST system has made it easier for companies to file their taxes, further facilitating the development of the accounting industry in India.