The number of Georgian audit firms is growing every year in the market. In 2021, the income of the 15 largest firms from auditing activities increased to GEL 54 million, which is 7% more than the previous year. In a four-year period, auditors' revenues were up by almost 44%.
The financial transparency reform in the country also contributes to the increase of revenues of the audit sector. Companies that meet the relevant criteria are required to make their financial statements public. As a result of the reform, hundreds of companies - large or medium - have made their annual results public. This, in turn, has increased the demand for auditor services.
The auditing companies themselves have the obligation to meet the standards of financial transparency and to publish the income from the preparation of financial statements. According to the data submitted by them, international companies are dominated in the list of the most profitable audit companies.
Audit companies receive revenue from a variety of sources. These include providing financial and legal advice to clients, preparing audit reports and surveys, outsourcing accounting services, and more.
Rating Of Audit Firms By The Revenues In 2021/2020
Ernst & Young Georgia - Revenue of GEL 14,102,412 in 2021; Revenue of GEL 12,715,658 in 2020
PWC Georgia - Revenue of GEL 11,380,881 in 2021; Revenue of GEL 10,769,076 in 2020
KPMG Georgia - Revenue of GEL 8,026,440 in 2021; Revenue of GEL 6,970,897 in 2020
BDO Georgia - Revenue of GEL 6,023,120 in 2021; Revenue of GEL 6,121,959 in 2020
Deloitte & Touche Georgia – Revenue of GEL 3,704,393 in 2021; Revenue of GEL 4,238,232 in 2020
Nexia TA – Revenue of GEL 1,861,260 in 2021; Revenue of GEL 1,851,141 in 2020
RSM Georgia – Revenue of GEL 1,370,338 in 2021; Revenue of GEL 1,008,724 in 2020
Ecovis ATA Finances – Revenue of GEL 1,304,894 in 2021; Revenue of GEL 1,002,218 in 2020
Grant Thornton Georgia – Revenue of GEL 1,280,840 in 2021; Revenue of GEL 1,193,438 in 2020
Baker Tilly Georgia – Revenue of GEL 1,143,815 in 2021; Revenue of GEL 914,000 in 2020
Moore ABC – Revenue of GEL 1,004,905 in 2021; Revenue of GEL 622,822 in 2020
PKF Kaizen – Revenue of GEL 822,003 in 2021; Revenue of GEL 1,145,829 in 2020
Management Advisory Group – Revenue of GEL 724,486 in 2021; Revenue of GEL 536,925 in 2020
Crowe.ge – Revenue of GEL 649,944 in 2021; Revenue of GEL 652,129 in 2020
AGIC International Consulting – Revenue of GEL 562,578 in 2021; Revenue of GEL 500,012 in 2020
Source: SARAS.gov.ge
