RSM International reported Tuesday its global revenues in 2022 reached $8.132 billion, increasing 15% this past year and 41.7% over the last three years.
The international accounting firm network, whose members include RSM US, reported double-digit growth across all regions for a second consecutive year and a 10% rise in headcount to 57,000 professionals. RSM hopes to achieve 100% growth in revenue by 2030.
Fee income grew most quickly in the Latin America (26%) and Asia Pacific (19%) regions. In North America and across Europe, RSM also saw revenue growth of 14% and 17% respectively, while the Middle East and North Africa region grew revenue by 17% and the rest of Africa by 10%.
In 2022, global fees from RSM's consulting services grew 37%, including IT consulting, which increased 26%. Global risk advisory revenues rose 26%. RSM also saw global growth across accounting (11%), tax (8%) and audit (6%) services. Despite the widespread talent shortage, RSM said it's continuing to attract large numbers of new talent, with 18% growth in headcount in the last two years alone.
"At RSM, our purpose is to instill confidence in a world of change," said RSM CEO Jean Stephens in a statement. "Our rapid growth is the result of our professionals supporting clients in over 120 countries to unlock value despite operating in an environment of unprecedented change and unpredictability."
In the year ahead, RSM expects demand for tax services to increase as countries struggle to deal with the Organization for Economic Cooperation and Development's growing requirements for more digitization in tax reporting and a global minimum tax rate. RSM's experts anticipate that levels of M&A worldwide will remain strong.
RSM's 2030 Global Strategy outlines a multi-year growth and transformation program targeting 100% growth in revenue by 2030. Through the strategy, RSM will make increasing use of global, digital delivery models, enhanced insight generation and wider use of automation, big data, machine learning and artificial intelligence to embrace the new world of work and skills, and to support businesses through change.
The strategy will further unite member firms under common international methodologies and structures, and will involve significant investment in talent to turn RSM into a seamless global organization, with teams, culture, governance and processes aligned across borders.
