Number one firm beats fellow Big Four members in survey

PricewaterhouseCoopers has emerged top of the league among UK accounting firms in terms of brand value, a new survey shows.

According to brand valuation specialist Intangible Business, PwC, already ranked number one by turnover, has the highest brand value at £3.1bn, ahead of Deloitte (£2.9bn), KPMG (£2.25bn) and Ernst & Young (£1.5bn).

The ranking is based on the ‘relief from royalty' method which uses forecast revenue streams and the implicit royalties the firms are relieved from paying because they own the brands. The rates are based on 10 measures of brand strength.

The table throws up a couple of surprises. BDO Stoy Hayward is ranked fifth with a brand value of £411m, though it is only sixth largest by turnover, beating number five firm Grant Thornton, whose brand value is put at only £395m.

Baker Tilly (£260m), Smith & Williamson (£198m) and PKF (£163m), take respectively seventh, eighth and ninth places, as expected. However, RSM Robson Rhodes (£158m), beats Tenon (127m) to tenth place in brand value, though is ranked one place lower in terms of turnover. Moore Stephens comes in at number 12, with a brand value of £96m.

Intangible Business joint managing director Thayne Forbes says: ‘Any company will be able to tell you the square footage of its office space, how much extra room there is to grow the team within it and how much the property itself is worth.

‘Ask the same company about the value and growth potential and the response is unlikely to be as forthcoming. This oversight can be critical to a business as typically the value of its brand is likely to significantly dwarf that of its offices.'