In this post, we bring to you the top 10 best accounting and auditing companies in Nigeria today. The majority of these tax advisory and consulting firms in the country are members of a network of independent companies that are renowned the world over for their excellent services as we shall see in the course of this article.
Auditing is very necessary for many companies and businesses both large and small alike. This is so that all financial activities of a company are properly investigated and reported appropriately so as to prevent inefficiencies and ensure that most companies and businesses follow properly the documented system of recording transactions in order to ascertain the accuracy of financial statements provided by an organization.
This is where accounting and audit firms, also known as tax advisory companies come in to ensure that many businesses thrive at costs that are not over inflated and that their accounts are properly balanced so as to reflect appropriately the real financial status of these organizations or businesses.
There are many accounting and audit companies in Nigeria today but for the purposes of this post, we shall be looking at only the 10 best tax firms in the country currently, taking into cognizance their international standing, the quality of the services they offer and their popularity among many Nigerians over the years.
TOP 10 BEST ACCOUNTING AND AUDITING COMPANIES IN NIGERIA CURRENTLY
The following are the 10 best accounting and auditing/tax advisory firms in Nigeria this 2021:
PRICEWATERHOUSECOOPERS INC (PwC) NIGERIA
PricewaterhouseCoopers (PwC) is a multinational accounting company that consists of a network of firms in 157 countries of the world with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. It is part of the big four accounting companies in the world today.
In Africa PwC is the largest provider of professional services with close to 400 partners and over 9,000 people in 34 countries. PwC has been operating in Nigeria since 1953 through its predecessor firms of Coopers & Lybrand and Price Waterhouse.
This large audit firm is one of the leading professional services firms in the country with offices in Lagos, Abuja and Port Harcourt, over 1000 staff and 31 resident partners. They are committed to serving as a force for integrity, good sense and wise solutions to the problems facing businesses and the capital markets, and the company is guided by one promise – to do what is right, be it with their people, clients, community, or environment.
Another one of the big four accounting and auditing firms in the world that makes our top 10 list, KPMG Professional Services and KPMG Advisory Services are the KPMG member firm in Nigeria. The partners and people have been operating in Nigeria since 1978, providing multidisciplinary professional services to both local and international organizations within the Nigerian business community.
Their vision is to build and sustain the company’s reputation as the best firm to work with by ensuring that their people, clients and communities achieve their full potential. At KPMG, they are committed to working with their clients to cut through complexities of the business world – finding solutions and adding value.
Their combination of international and local market knowledge and perspective give KPMG an edge in the professional services industry in Nigeria today. This combination enables the Nigerian practice to add real value by developing strategies that give the firm’s clients a distinct edge over their competitors.
As one of the leading providers of professional services, KPMG knows that the success and growth of the firm also depends on the success and growth of the Nigerian economy. Hence, it champions progressive change and makes the future happen for its clients, people and the community, thereby enabling Nigeria’s success. The firm is involved in the formulation of economic policies for Nigeria through the Nigerian Economic Summit Group.
KPMG has a full complement of 38 partners and over 1000 trained and dedicated professional staff; with deep industry skills and competencies in audit, tax and advisory services. This tax advisory company has worked for clients in the public and private sector in Nigeria and in several other countries, helping to transform business performance and operations.
Deloitte is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax and related services to select clients.
Each DTTL member firm is structured in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in its territory through subsidiaries, affiliates, and other related entities. Not every DTTL member firm provides all services, and certain services may not be available to attest clients under the rules and regulations of public accounting.
DTTL and each DTTL member firm are legally separate and independent entities, which cannot obligate each other. DTTL and each DTTL member firm are liable only for their own acts and omissions, and not those of each other.
In the Federal Republic of Nigeria, Deloitte operates as Deloitte & Touche (formerly Akintola Williams Deloitte). Deloitte & Touche is a part of Deloitte Africa. Deloitte Africa is a member of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee.
Deloitte & Touche is the Deloitte Touche Tohmatsu Limited (DTTL) member firm in Nigeria and the oldest indigenous professional services firm in Nigeria. The firm was established in 1952 by Mr. Akintola Williams, the doyen of the accountancy profession in Nigeria.
Through astute management the firm has grown in size and scope of services to become one of the largest professional services firms in Nigeria. As earlier stated, the firm started operations in Nigeria as Akintola Williams & Co. in 1952.
Between April 1999 and May 2004, two mergers with existing accounting firms were consummated which resulted in its being the largest professional services firm in Nigeria with a staff of over 600. The firm adopted the business name “Akintola Williams Deloitte” on July 30, 2004.
Over the years, Deloitte has built up a strong representation in several major African cities and has successfully undertaken a variety of business advisory and consulting assignments for clients in Nigeria and elsewhere in Africa. With the potent combination of extensive local knowledge, countrywide representation and international expertise, the company is able to offer their clients the best services and solutions to meet their needs.
Deloitte is focused on client service through a global strategy executed locally in over 150 countries. With access to intellectual capital of 200,000 people worldwide, their member firms deliver services in the following professional areas: Audit, Tax, Consulting, Accounting & Financial Advisory, Corporate Finance and Risk Advisory. Their member firms serve more than one-half of the world’s largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast growing companies
ERNST AND YOUNG (EY) NIGERIA
Ernst and Young (EY), is the last but not the least big four accounting firm in our list of top 10 best accounting and audit companies in Nigeria today. This global tax advisory leader has offices in the country that are located in Lagos, Abuja and Port Harcourt and the company is committed in helping their clients to solve their toughest issues.
At EY, they are dedicated to helping organizations solve their toughest challenges and realize their greatest ambitions – from start-ups to Fortune 500 companies; and the work they do with them is as varied as they are.
Through their four service lines – Assurance, Consulting, Strategy and Transactions, and Tax, Ernst and Young helps their clients capitalize on transformative opportunities. They also help them fulfill regulatory requirements, keep investors informed and meet the needs of all of their stakeholders. And in a fast changing world, they give their clients all the support they need in order to be effective today and create long term value for tomorrow.
MCKINSEY & COMPANY NIGERIA
McKinsey & Company, Nigeria is another leading accounting and auditing company in the country currently. Since 2002, McKinsey has played an active part in driving the steady growth of Nigeria’s economy and accelerating development.
Their team of highly qualified consultants, from Nigeria and around the world, helps government leaders reform key institutions, build skills, expand infrastructure, and shape the growth of major economic sectors. And they help leading Nigerian companies win as regional and global champions, and multinationals build high-impact African operations.
GRANT THORNTON NIGERIA
Grant Thornton is a leading business adviser that helps dynamic organizations to unlock their potential for growth. Their brand is respected globally, as one of the major global accounting organizations recognised by capital markets, regulators and international standards setting bodies.
Over the last couple of years, they have become the fastest growing large accounting organization and they are constantly evolving and developing alongside their clients.
As a global organization of member firms with 56,000 people in more than 140 countries, Grant Thornton has the scale to meet their client’s changing needs, but with the insight and agility that helps them to stay one step ahead.
Privately owned, publicly listed and public sector clients approach this top auditing company for their technical skills and industry capabilities and also for their different way of rendering their financial services.
Whether a business has domestic or international aspirations, Grant Thornton can help you to unlock your potential for growth. Their head office in Nigeria is located in Abuja, the Federal Capital Territory.
BDO is a global accountancy and business advisory firm that operates in 154 countries with 64,500 people working out of 1,400 offices worldwide. At BDO business is personal, and developing strong, personal relationships is at the forefront of their service approach. In Nigeria, this top auditing firm was established as Oyediran Faleye Oke Co., and it was registered to practice as a firm of Chartered Accountants in the country in 1973.
The firm which was an associate of Coopers Lybrand was established in response to the Indigenization Decree promulgated by the Federal Military Government of Nigeria in the early seventies to provide audit, taxation and consultancy services to mainly multinational Companies like the United African Company of Nigeria Plc (UACN), an associated company to Unilever International, Lever Brothers of Nigeria Plc, The Lion of Africa Insurance Company Limited and the UNIC Insurance Plc amongst others.
The firm derived its name from the last names of the first three indigenous Partners of the firm of Coopers Lybrand, which came to Nigeria for the first time in 1953. The firm was managed as a parallel indigenous practice with the former Coopers Lybrand for the audit, accountancy and tax work of mainly big multinational companies who preferred to use the local name.
Oyediran Faleye Oke & Co. was severed from the umbilical cord that bound it with Coopers Lybrand with effect from July 1, 1998, following the merger of the firms of Coopers & Lybrand with Price Waterhouse worldwide. Consequent upon the merger, the firm, Oyediran Faleye Oke Co. joined BDO International B.V.
On January 1, 2010 the name of the firm was changed to BDO Professional Services.
Crowe Dafinone is the largest indigenous Accounting firm in Nigeria made up of 6 partners and over 100 members of staff. The firm was founded by Senator David Omueya Dafinone, a Nigerian former accountant and politician who was a senator for Bendel South during the Nigerian Second Republic as “D. O. Dafinone & Co” in 1966.
In 1997, the firm joined Crowe Horwath International and in 2003, changed its name to “Horwath Dafinone”. In 2019, in line with the changes in the international network, the firm changed its name to Crowe Dafinone.
They have clients throughout Nigeria, and worldwide maintain an international presence via their membership of Crowe – One of the largest networks of independent accounting Firms worldwide, consisting of more than 200 independent accounting and management consulting firms with over 800 offices in more than 130 Countries.
ASHFORD & MCGUIRE
Ashford & McGuire is another leading indigenous consulting firm in Nigeria. They are focused on delivering distinct value to their clients while consistently redefining the consulting market space. Ashford & McGuire is committed to people development, empowerment and growth through which they deliver value with quantifiable impact on business results.
BAO CONSULTANCY SERVICES
BAO Consultancy Services is a top accounting and auditing firm in Nigeria that is focused on Small and Medium Scale Enterprises (SMEs). The company has continued to show their dedication to SMEs in Nigeria made evident by the number of years that they have been offering accounting, tax and financial advisory advice to companies in Lagos, Abuja, Kano, and Port Harcourt.