The firm previously known as BKD LLP is seeing tangible evidence of its growth after a recent merger with an industry peer.
Now called FORVIS LLP, the Springfield-based company this year ranked No. 8 on Inside Public Accounting's list of the top U.S. accounting firms. That's up from its No. 14 spot last year, while the company it merged with, North Carolina-based DHG, previously ranked No. 17.
The BKD-DHG merger means FORVIS now has combined revenue of nearly $1.5 billion, according to the IPA list. BKD reported $758.1 million in net revenue for the 2021 list. BKD had held a spot on the top 10 for 12 years until 2013, when the company was bumped to No. 12 from No. 10. It peaked at No. 7 in 2001, according to Springfield Business Journal archives.
The BKD-DHG merger was finalized in June, according to past reporting.
Two other Springfield companies, KPM CPAs & Advisors and Abacus CPAs LLC, additionally made the IPA 500.
KPM ranked No. 242 with $17.5 million in net revenue, while Abacus was No. 344 with $11.4 million in net revenue, according to IPA. KPM held the same rank on the 2021 list, and Abacus did not participate in the survey that year, according to an IPA official.
“Despite the many headwinds of change and disruption facing the U.S. economy, the nation’s largest public accounting firms are facing unprecedented demand for their services,” said Mike Platt, principal with IPA, in a news release announcing this year's rankings.
“As client companies maneuver to navigate supply chain disruption, staffing shortages, inflation and return-to-work policies post-COVID, the nation’s largest accounting firms are helping to guide the way, truly becoming hands-on advisers to their clients and moving significantly beyond traditional compliance work.”
Topping the IPA list again is New York-based Deloitte LLP, with net revenue of nearly $23 billion.
Mercy Springfield Communities relocated a clinic; San Clemente, California-based law firm Gilson Daub Inc. expanded to the Springfield market; and a second video gaming center for Contender eSports Springfield LLC opened in the Queen City.