The future looks bright for accounting firms in Canada, as the country's accountancy business is predicted to grow rapidly in the coming years. The growing complexity of the Canadian economy, as well as the country's regulatory and tax structures, continues to drive up demand for professional accounting services.
In fact, industry revenues are predicted to increase dramatically during the next five years. More opportunities for accountancy and financial services are opening up as a result of the increasing number of Canadian and multinational businesses entering the domestic market.
If you are a resident of Canada or you just migrated, and want to start a career in accountancy or continue practicing in Canada, here is a guide on how to become a chartered accountant in Canada.
The Largest accounting firms in Canada
It is impossible to give a comprehensive list of the top 10 accounting firms in Canada because accountancy firms in different provinces and cities have different strengths and weaknesses.
The Big 4 Accounting Firms Presence in Canada
The Big 4 accounting firms hold a majority share of the accountancy market, just as they do in any other country where they are present. The Big Four are known for auditing big telecommunications companies, banks, oil and gas industry, and mining companies.
The Big 4 consists of KPMG, PwC, Deloitte, and Ernst & Young. In addition to audit practices, they also manage advisory engagements, consulting, and US corporate tax departments for both American and Canadian companies that want to penetrate each other’s market. The aim, values, and strategies of each of the Big Four firms are largely the same all over the world.
Do you want to get employed at the big four. You can read our previous article on how to get a job in the big 4 accounting firms.
List of Top accounting firms in Canada
The big 4 accounting firms top the list of top 10 accounting firms in Canada. Here is a list of the remaining six:
MultiTaxservices, a leading accounting firm in London Ontario, is making waves in the financial industry with its exceptional growth and commitment to providing top-notch services to individuals and businesses alike.
With a reputation for excellence and a team of highly skilled professionals, MultiTaxservices has become the go-to choice for individuals and businesses seeking expert accounting and tax solutions. Their provide range of services includes tax planning and preparation, bookkeeping, payroll management, financial consulting, and more.
What sets MultiTaxservices apart is their dedication to client satisfaction. They understand that every client has unique needs and goals, and they tailor their services accordingly.
2. MNP LLP
The first on our list of top accounting firms in Canada is MNP LL. MNP began in Brandon, Manitoba, in 1945, when Winnipeg-based Laird, Sprague & Co opened their doors. In 1958, Ron Meyers bought the company outright and renamed it Meyers Dickens Norris Penny & Co. (MDNP) in 1969. Another merger occurred in 1996, and the company was renamed MNP. MNP, established in Calgary, Alberta, is one of Canada's top accounting and business consultancy firms, with over 4,000 employees and offices around the country.
3. Smythe LLP
Smythe LLP, a socially responsible organization dedicated to providing exceptional accounting, assurance, taxes, and business advice services in a timely manner, was founded in 1980 by six entrepreneurs. Smythe is connected to firms all around the world as a member of Allinial Global. Smythe has specific industry understanding in technology, real estate and construction, not-for-profit businesses, and mining, and serves clients of all sizes, both private and public.
4. Manning Elliott LLP
Manning Elliott, which was founded in 1952, today employs over 150 chartered professional accountants and business advisors with extensive expertise working with small and medium-sized enterprises. Manning Elliott is one of British Columbia's most popular and forward-thinking mid-size accounting companies. The organization places great importance on a close-knit company culture that promotes not only high-quality work but also fun in the working environment.
5. Dale Matheson Carr-Hilton LaBonte (DMCL)
DMCL LLP is a member firm of Moore Stephens North America but operates independently. Moore Stephens North America's DMCL LLP is an independent member firm. DMCL is one of Canada's largest independent accountancy firms, with offices in Vancouver, Surrey, and Port Coquitlam. Whether providing assurance, advising and accounting, or tax services, the business takes a client-centered approach to assisting customers in achieving their objectives.
6. Davidson & Company LLP
Davidson & Company is a relatively new but rapidly expanding firm that offers auditing, securities, and business and personal accounting services. "Big enough to know, small enough to care" is the firm's motto. It firmly believes that clients are at the center of the experience and strives to provide a clear plan that allows for open and honest communication, fosters deep understanding, and ensures continued involvement.
7. Wolrige Mahon LLP
Alan Wolrige and Ken Mahon had a vision for a firm that would provide a broad range of accounting services for local businesses. Wolrige Mahon LLP is now a member of Baker Tilly International, an international network of independent accounting and business consultancy firms.
The motto for Wolrige Mahon’s company is “We chart our own course, according to our own vision and that of our clients.” Wolrige Mahon LLP is one of the largest accounting firms in the Metro Vancouver area, offering services in accounting and audit, taxation, business valuations, litigation support, corporate finance, IT, and restructuring.
Getting a reputable accountancy firm to perform accounting services is a very difficult task. You need a firm with experience and goodwill, a firm with a history of delivering quality jobs for clients in a timely manner. If you are looking for top accountancy firms in Canada, this list is a guide so that you don't make mistakes by outsourcing your accounting services to an incompetent firm.