IAB RANKINGS – Panama

Panama fee and staff tables

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Panama Fee 2022
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Fee split (%)					Year-end
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Audit & Assurance	Accounting services	Tax services	Advisory	Other	Year-end
Networks
5	BDO*	10.6	10.3	4%	41	19	28	7	5	Dec-21
6	Baker Tilly International* (1)	3.7	3.1	21%	42	19	9	1	29	Dec-21
7	Nexia International*	2.4	2.2	9%	64	13	22	1	-	Jun-21
8	HLB*	2.3	2.6	-11%	48	31	19	-	2	Sep-21
9	Grant Thornton* (2)	2.0	1.0	100%	57	-	25	18	-	Sep-21
10	Crowe* (3)	2.0	2.6	-23%	40	5	40	15	-	Dec-21
11	RSM* (4)	1.7	2.3	-26%	45	16	16	13	10	Dec-21
12	MGI Worldwide*	1.0	1.0	6%	29	34	11	12	14	Dec-21
13	PKF International* (4)	0.8	1.0	-20%	34	40	23	-	3	Jun-21
14	ECOVIS International*	0.7	0.6	15%	22	60	15	3	-	Dec-21
15	Kreston Global* (4)	0.7	0.9	-28%	63	20	17	-	-	Oct-21
16	Moore Global* (e)	0.5	0.4	2%	n.d	n.d	n.d	n.d	n.d	n.d
17	UHY International*	0.4	0.4	16%	38	29	19	-	14	Dec-21
18	UC&CS América*	0.4	0.3	21%	73	-	18	9	-	Dec-21
19	SMS Latinoamérica*	0.4	0.4	3%	11	64	22	3	-	Dec-21
20	Russell Bedford International*	0.3	0.3	0%	78	9	6	-	7	Dec-21
21	Kudos International*	0.3	0.3	6%	28	22	13	6	31	Dec-21
Total revenue / growth		30.3	29.7	2%

Associations
1	LEA Global / Leading Edge*	2.6	2.5	2%	34	22	16	24	4	Dec-21
2	PrimeGlobal*	2.2	2.2	-4%	38	35	21	5	1	May-22
3	Integra International*	1.8	1.7	6%	40	35	18	7	-	Dec-21
4	BKR International*	1.1	1.2	-6%	66	19	10	-	5	Dec-21
5	IAPA*	0.7	0.7	-5%	10	70	20	-	-	Dec-21
6	Allinial Global*	0.5	0.5	0%	64	6	21	9	-	Dec-21
7	Morison Global* (5)	0.4	0.4	-1%	11	53	27	-	9	Oct-21
8	UC&CS Global*	0.4	0.3	21%	73	-	18	9	-	Dec-21
9	Abacus Worldwide*	0.3	0.3	3%	52	15	31	2	-	Dec-21
10	AGN International* (6)	0.3	0.2	40%	12	74	11	3	-	Dec-21
11	EAI International* (e)	0.3	0.3	2%	n.d	n.d	n.d	n.d	n.d	n.d
12	Inpact*	0.2	0.1	95%	19	57	8	13	3	Dec-21
13	Antea*	0.1	0.1	-17%	-	14	31	55	-	Dec-21
14	Praxity*	0.1	0.1	13%	28	31	27	5	9	2021
Total revenue / growth		10.7	10.5	2%
Notes: (e) International Accounting Bulletin estimate. n.d = not disclosed, n.c.= not collected, n.ap= not applicable, n.av= not available. (1) Increase in fee income attributed to some 2020 invoices being paid in 2021 due to Covid. (2) Increase in fee income attributed to gaining more clients due to reduced prices of services as well as providing Transfer Pricing services. (3) Decrease in fee income attributed to loss of partners and the associated clients as well as reducing rates of services and the outstanding invoices. (4) Decrease in fee income attributed to loss of some clients. (5) Restated figures for last year as the figures provided previously were for the year ended December 2019. The restated figures for last year now reflect the year ended October 2020. (6) Increase in fee income attributed to resumption of client services that were suspended in 2020 due to Covid. Disclaimer = Only data from the named member firm or the exclusive member firms within a network/association is included. Where data for accounting services are not disclosed, they are included in audit and assurance. Source: International Accounting Bulletin*

Panama Fee 2022
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Fee split (%)					Year-end
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Audit & Assurance	Accounting services	Tax services	Advisory	Other	Year-end
Networks
5	BDO*	10.6	10.3	4%	41	19	28	7	5	Dec-21
6	Baker Tilly International* (1)	3.7	3.1	21%	42	19	9	1	29	Dec-21
7	Nexia International*	2.4	2.2	9%	64	13	22	1	-	Jun-21
8	HLB*	2.3	2.6	-11%	48	31	19	-	2	Sep-21
9	Grant Thornton* (2)	2.0	1.0	100%	57	-	25	18	-	Sep-21
10	Crowe* (3)	2.0	2.6	-23%	40	5	40	15	-	Dec-21
11	RSM* (4)	1.7	2.3	-26%	45	16	16	13	10	Dec-21
12	MGI Worldwide*	1.0	1.0	6%	29	34	11	12	14	Dec-21
13	PKF International* (4)	0.8	1.0	-20%	34	40	23	-	3	Jun-21
14	ECOVIS International*	0.7	0.6	15%	22	60	15	3	-	Dec-21
15	Kreston Global* (4)	0.7	0.9	-28%	63	20	17	-	-	Oct-21
16	Moore Global* (e)	0.5	0.4	2%	n.d	n.d	n.d	n.d	n.d	n.d
17	UHY International*	0.4	0.4	16%	38	29	19	-	14	Dec-21
18	UC&CS América*	0.4	0.3	21%	73	-	18	9	-	Dec-21
19	SMS Latinoamérica*	0.4	0.4	3%	11	64	22	3	-	Dec-21
20	Russell Bedford International*	0.3	0.3	0%	78	9	6	-	7	Dec-21
21	Kudos International*	0.3	0.3	6%	28	22	13	6	31	Dec-21
Total revenue / growth		30.3	29.7	2%

Associations
1	LEA Global / Leading Edge*	2.6	2.5	2%	34	22	16	24	4	Dec-21
2	PrimeGlobal*	2.2	2.2	-4%	38	35	21	5	1	May-22
3	Integra International*	1.8	1.7	6%	40	35	18	7	-	Dec-21
4	BKR International*	1.1	1.2	-6%	66	19	10	-	5	Dec-21
5	IAPA*	0.7	0.7	-5%	10	70	20	-	-	Dec-21
6	Allinial Global*	0.5	0.5	0%	64	6	21	9	-	Dec-21
7	Morison Global* (5)	0.4	0.4	-1%	11	53	27	-	9	Oct-21
8	UC&CS Global*	0.4	0.3	21%	73	-	18	9	-	Dec-21
9	Abacus Worldwide*	0.3	0.3	3%	52	15	31	2	-	Dec-21
10	AGN International* (6)	0.3	0.2	40%	12	74	11	3	-	Dec-21
11	EAI International* (e)	0.3	0.3	2%	n.d	n.d	n.d	n.d	n.d	n.d
12	Inpact*	0.2	0.1	95%	19	57	8	13	3	Dec-21
13	Antea*	0.1	0.1	-17%	-	14	31	55	-	Dec-21
14	Praxity*	0.1	0.1	13%	28	31	27	5	9	2021
Total revenue / growth		10.7	10.5	2%
Notes: (e) International Accounting Bulletin estimate. n.d = not disclosed, n.c.= not collected, n.ap= not applicable, n.av= not available. (1) Increase in fee income attributed to some 2020 invoices being paid in 2021 due to Covid. (2) Increase in fee income attributed to gaining more clients due to reduced prices of services as well as providing Transfer Pricing services. (3) Decrease in fee income attributed to loss of partners and the associated clients as well as reducing rates of services and the outstanding invoices. (4) Decrease in fee income attributed to loss of some clients. (5) Restated figures for last year as the figures provided previously were for the year ended December 2019. The restated figures for last year now reflect the year ended October 2020. (6) Increase in fee income attributed to resumption of client services that were suspended in 2020 due to Covid. Disclaimer = Only data from the named member firm or the exclusive member firms within a network/association is included. Where data for accounting services are not disclosed, they are included in audit and assurance. Source: International Accounting Bulletin*

Panama Fee 2022
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Fee split (%)					Year-end
Rank	Name	Fee income (PABm)	Fee income last year (PABm)	Growth rate (%)	Audit & Assurance	Accounting services	Tax services	Advisory	Other	Year-end
Networks
5	BDO*	10.6	10.3	4%	41	19	28	7	5	Dec-21
6	Baker Tilly International* (1)	3.7	3.1	21%	42	19	9	1	29	Dec-21
7	Nexia International*	2.4	2.2	9%	64	13	22	1	-	Jun-21
8	HLB*	2.3	2.6	-11%	48	31	19	-	2	Sep-21
9	Grant Thornton* (2)	2.0	1.0	100%	57	-	25	18	-	Sep-21
10	Crowe* (3)	2.0	2.6	-23%	40	5	40	15	-	Dec-21
11	RSM* (4)	1.7	2.3	-26%	45	16	16	13	10	Dec-21
12	MGI Worldwide*	1.0	1.0	6%	29	34	11	12	14	Dec-21
13	PKF International* (4)	0.8	1.0	-20%	34	40	23	-	3	Jun-21
14	ECOVIS International*	0.7	0.6	15%	22	60	15	3	-	Dec-21
15	Kreston Global* (4)	0.7	0.9	-28%	63	20	17	-	-	Oct-21
16	Moore Global* (e)	0.5	0.4	2%	n.d	n.d	n.d	n.d	n.d	n.d
17	UHY International*	0.4	0.4	16%	38	29	19	-	14	Dec-21
18	UC&CS América*	0.4	0.3	21%	73	-	18	9	-	Dec-21
19	SMS Latinoamérica*	0.4	0.4	3%	11	64	22	3	-	Dec-21
20	Russell Bedford International*	0.3	0.3	0%	78	9	6	-	7	Dec-21
21	Kudos International*	0.3	0.3	6%	28	22	13	6	31	Dec-21
Total revenue / growth		30.3	29.7	2%

Associations
1	LEA Global / Leading Edge*	2.6	2.5	2%	34	22	16	24	4	Dec-21
2	PrimeGlobal*	2.2	2.2	-4%	38	35	21	5	1	May-22
3	Integra International*	1.8	1.7	6%	40	35	18	7	-	Dec-21
4	BKR International*	1.1	1.2	-6%	66	19	10	-	5	Dec-21
5	IAPA*	0.7	0.7	-5%	10	70	20	-	-	Dec-21
6	Allinial Global*	0.5	0.5	0%	64	6	21	9	-	Dec-21
7	Morison Global* (5)	0.4	0.4	-1%	11	53	27	-	9	Oct-21
8	UC&CS Global*	0.4	0.3	21%	73	-	18	9	-	Dec-21
9	Abacus Worldwide*	0.3	0.3	3%	52	15	31	2	-	Dec-21
10	AGN International* (6)	0.3	0.2	40%	12	74	11	3	-	Dec-21
11	EAI International* (e)	0.3	0.3	2%	n.d	n.d	n.d	n.d	n.d	n.d
12	Inpact*	0.2	0.1	95%	19	57	8	13	3	Dec-21
13	Antea*	0.1	0.1	-17%	-	14	31	55	-	Dec-21
14	Praxity*	0.1	0.1	13%	28	31	27	5	9	2021
Total revenue / growth		10.7	10.5	2%
Notes: (e) International Accounting Bulletin estimate. n.d = not disclosed, n.c.= not collected, n.ap= not applicable, n.av= not available. (1) Increase in fee income attributed to some 2020 invoices being paid in 2021 due to Covid. (2) Increase in fee income attributed to gaining more clients due to reduced prices of services as well as providing Transfer Pricing services. (3) Decrease in fee income attributed to loss of partners and the associated clients as well as reducing rates of services and the outstanding invoices. (4) Decrease in fee income attributed to loss of some clients. (5) Restated figures for last year as the figures provided previously were for the year ended December 2019. The restated figures for last year now reflect the year ended October 2020. (6) Increase in fee income attributed to resumption of client services that were suspended in 2020 due to Covid. Disclaimer = Only data from the named member firm or the exclusive member firms within a network/association is included. Where data for accounting services are not disclosed, they are included in audit and assurance. Source: International Accounting Bulletin*

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Panama Staff 2022
Rank	Name	Total staff 2021	Last year 2020	Growth rate (%)	Female Staff	Female Partners	Partners		Professional staff		Administrative staff		Offices
Rank	Name	Total staff 2021	Last year 2020	Growth rate (%)	Female Staff	Female Partners	2021	2020	2021	2020	2021	2020	2021	2020
Networks
5	BDO*	200	202	-1%	84	5	15	15	170	171	15	16	3	3
6	Baker Tilly International *	65	54	20%	40	0	5	6	53	42	7	6	3	3
7	Nexia International*	62	73	-15%	33	2	5	5	44	52	13	16	1	1
8	HLB* (1)	57	64	-11%	37	3	6	6	40	45	11	13	1	1
9	RSM*	44	47	-6%	25	0	4	4	33	36	7	7	1	1
10	MGI Worldwide* (2)	40	30	33%	n.d	4	9	9	20	21	11	n.d	2	2
11	Crowe*	24	44	-45%	4	0	2	2	15	30	7	12	1	1
12	Kreston Global*	24	35	-31%	21	1	2	2	19	30	3	3	1	1
13	PKF International*	23	25	-8%	n.d	n.d	4	4	14	15	5	6	1	1
14	Grant Thornton*	23	17	35%	10	0	2	2	21	15	-	-	1	1
15	UHY International*	19	21	-10%	8	1	4	4	14	16	1	1	1	1
16	ECOVIS International*	18	20	-10%	10	0	3	3	14	15	1	2	1	1
17	Kudos International*	15	15	0%	5	1	3	3	12	12	-	-	1	1
18	Moore Global* (e)	13	13	1%	n.d	n.d	n.d	2	n.d	10	n.d	1	n.d	1
19	UC&CS América*	13	13	0%	8	0	2	2	9	9	2	2	1	1
20	SMS Latinoamérica*	12	12	0%	5	1	1	1	10	10	1	1	1	1
21	Russell Bedford International*	9	10	-10%	2	0	4	4	3	5	2	1	1	1
Total staff / growth		661	695	-5%	292	18	71	74	491	534	86	87	21	22

Associations
1	LEA Global / Leading Edge*	72	69	4%	n.d	n.d	7	6	55	46	10	17	2	2
2	PrimeGlobal*	44	36	22%	n.d	n.d	9	6	25	22	10	8	3	2
3	Integra International*	42	42	0%	n.d	n.d	7	7	30	30	5	5	1	1
4	BKR International*	34	31	10%	12	1	3	3	24	21	7	7	1	1
5	IAPA*	18	18	0%	n.d	n.d	2	2	14	13	2	3	1	1
6	UC&CS Gobal*	13	13	0%	8	0	2	2	9	9	2	2	1	1
7	Inpact*	11	10	10%	6	0	3	3	6	6	2	1	1	1
8	Allinial Global*	11	8	38%	0	0	3	2	7	5	1	1	1	1
9	EAI International* (e)	10	10	4%	n.d	n.d	n.d	2	n.d	7	n.d	1	n.d	1
10	AGN International*	10	9	11%	1	0	3	2	5	6	2	1	1	1
11	Morison Global* (3)	7	8	-13%	3	0	2	2	3	4	2	2	1	1
12	Abacus Worldwide*	6	10	-40%	1	1	2	2	2	6	2	2	1	2
13	Antea*	3	5	-40%	1	n.d	2	2	1	2	-	1	1	1
14	Praxity*	3	4	-25%	n.d	n.d	1	1	1	2	1	1	1	1
Total staff / growth		284	273	4%	32	2	46	42	182	179	46	52	16	17
Notes: (e) = IAB estimate, n.d = not disclosed, n.c.= not collected, n.ap= not applicable, n.av= not available. (1) Restated staff figures for last year as there were errors in submission. (2) Data for admin staff were not included last year; they are included this year. (3) Restated figures for last year as the figures provided previously were for the year ended December 2019. The restated figures for last year now reflect the year ended October 2020. Disclaimer = Data relating to correspondent and non-exclusive member firms is not included. Source: International Accounting Bulletin*

Panama Staff 2022
Rank	Name	Total staff 2021	Last year 2020	Growth rate (%)	Female Staff	Female Partners	Partners		Professional staff		Administrative staff		Offices
Rank	Name	Total staff 2021	Last year 2020	Growth rate (%)	Female Staff	Female Partners	2021	2020	2021	2020	2021	2020	2021	2020
Networks
5	BDO*	200	202	-1%	84	5	15	15	170	171	15	16	3	3
6	Baker Tilly International *	65	54	20%	40	0	5	6	53	42	7	6	3	3
7	Nexia International*	62	73	-15%	33	2	5	5	44	52	13	16	1	1
8	HLB* (1)	57	64	-11%	37	3	6	6	40	45	11	13	1	1
9	RSM*	44	47	-6%	25	0	4	4	33	36	7	7	1	1
10	MGI Worldwide* (2)	40	30	33%	n.d	4	9	9	20	21	11	n.d	2	2
11	Crowe*	24	44	-45%	4	0	2	2	15	30	7	12	1	1
12	Kreston Global*	24	35	-31%	21	1	2	2	19	30	3	3	1	1
13	PKF International*	23	25	-8%	n.d	n.d	4	4	14	15	5	6	1	1
14	Grant Thornton*	23	17	35%	10	0	2	2	21	15	-	-	1	1
15	UHY International*	19	21	-10%	8	1	4	4	14	16	1	1	1	1
16	ECOVIS International*	18	20	-10%	10	0	3	3	14	15	1	2	1	1
17	Kudos International*	15	15	0%	5	1	3	3	12	12	-	-	1	1
18	Moore Global* (e)	13	13	1%	n.d	n.d	n.d	2	n.d	10	n.d	1	n.d	1
19	UC&CS América*	13	13	0%	8	0	2	2	9	9	2	2	1	1
20	SMS Latinoamérica*	12	12	0%	5	1	1	1	10	10	1	1	1	1
21	Russell Bedford International*	9	10	-10%	2	0	4	4	3	5	2	1	1	1
Total staff / growth		661	695	-5%	292	18	71	74	491	534	86	87	21	22

Associations
1	LEA Global / Leading Edge*	72	69	4%	n.d	n.d	7	6	55	46	10	17	2	2
2	PrimeGlobal*	44	36	22%	n.d	n.d	9	6	25	22	10	8	3	2
3	Integra International*	42	42	0%	n.d	n.d	7	7	30	30	5	5	1	1
4	BKR International*	34	31	10%	12	1	3	3	24	21	7	7	1	1
5	IAPA*	18	18	0%	n.d	n.d	2	2	14	13	2	3	1	1
6	UC&CS Gobal*	13	13	0%	8	0	2	2	9	9	2	2	1	1
7	Inpact*	11	10	10%	6	0	3	3	6	6	2	1	1	1
8	Allinial Global*	11	8	38%	0	0	3	2	7	5	1	1	1	1
9	EAI International* (e)	10	10	4%	n.d	n.d	n.d	2	n.d	7	n.d	1	n.d	1
10	AGN International*	10	9	11%	1	0	3	2	5	6	2	1	1	1
11	Morison Global* (3)	7	8	-13%	3	0	2	2	3	4	2	2	1	1
12	Abacus Worldwide*	6	10	-40%	1	1	2	2	2	6	2	2	1	2
13	Antea*	3	5	-40%	1	n.d	2	2	1	2	-	1	1	1
14	Praxity*	3	4	-25%	n.d	n.d	1	1	1	2	1	1	1	1
Total staff / growth		284	273	4%	32	2	46	42	182	179	46	52	16	17
Notes: (e) = IAB estimate, n.d = not disclosed, n.c.= not collected, n.ap= not applicable, n.av= not available. (1) Restated staff figures for last year as there were errors in submission. (2) Data for admin staff were not included last year; they are included this year. (3) Restated figures for last year as the figures provided previously were for the year ended December 2019. The restated figures for last year now reflect the year ended October 2020. Disclaimer = Data relating to correspondent and non-exclusive member firms is not included. Source: International Accounting Bulletin*

10/04/2022 09:30:25