FEE income among the top 25 accountancy firms grew by an average of 18 per cent over the last year to a total of £330 million (€419.01 million), according to a survey by Finance magazine.

It shows the merged PricewaterhouseCoopers as the largest firm in the market, recording an estimated 20 per cent rise in fee income to £78 million. KPMG recorded a 26 per cent rise to £65.6 million, leaving it clear in second place, while Arthur Andersen had an estimated growth of 25 per cent to £37.5 million.

The other two players in the big five are Ernst & Young - up 21 per cent to £34 million - and Deloitte & Touche, up 12 per cent to £33 million.

BDO Simpson Xavier and Grant Thornton were the only other firms with fee income exceeding £10 million, with £18 million and just over £10 million respectively.

Among the firms reporting fee income between £1 million and £10 million, there were strong growth performances from OSK (up 59 per cent to £1.78 million), Caplin Meehan (up 37 per cent to £1.069 million) and Russell Brennan Keane (up 24 per cent to £3.15 million).