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Accounting firms' revenues jump 10 pct in 2015: FSS

All News 06:00 September 09, 2016

SEOUL, Sept. 9 (Yonhap) -- Accounting companies operating in South Korea saw their combined revenues climb 10.1 percent on-year to 2.46 trillion won (US$2.25 billion) in fiscal 2015, data showed Friday.

Their profits increased in major fields such as audit, consulting and tax-related services during the period, according to the data compiled by the Financial Supervisory Service (FSS).

The proportion of sales by the so-called Big Four firms fell to 51.2 percent from 53.3 percent a year earlier, as more than a dozen new companies were born.

The four are Samil PricewaterhouseCoopers (PwC), Samjong KPMG, Deloitte Anjin and Earnest & Young Han Young.

The number of accounting firms registered with the financial authorities came to 157 as of end-March, a sharp rise from 141 in the previous year.

The FSS said some retired accountants seem to have launched their own businesses.

A total of 18,469 certified public accountants were registered as of the end of March, up 5 percent from a year earlier. Among them, 9,821 were working at accounting firms, said the FSS.


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