Crowe Global Explained

Crowe Global
Type:Swiss Verein
Hq Location City:Chicago, Illinois
Hq Location Country:United States of America
Area Served:Worldwide
Industry:Professional services
Revenue: US$4.9 billion (2022)[1]
Num Employees:40,309 (2022)
Foundation: (Horwath & Horwath)
(Horwath & Horwath International)
(merger of Crowe LLP, firm changed name to Crowe Horwath in 2009)
(Crowe)

Crowe Global, commonly referred to as Crowe, previously Crowe Horwath International,[2] is a multinational professional services network. It is the 8th largest global accounting network in the world by revenue.[3] The network consists of more than 220 firms with over 40,000 employees in 130 countries.[4]

Crowe provides audit, tax, consulting, enterprise risk and financial advisory services. In FY 2018, the network earned a record US$4.3 billion in aggregate revenues.

History

In 1915, Hungarian immigrants Ernest and Edmund Horwath founded Horwath & Horwath in New York.[5] [6] The original practice focused on the hospitality industry.[7] The practice later expanded to include accounting, audit and tax offerings.[8] In 1967, it merged with Laventhol Krekstein Griffith & Co. to become Laventhol & Horwath.Crowe Chizek was established in 1942 in South Bend, Indiana, by Fred P. Crowe Sr. and Cletus F. Chizek. Previously, Crowe had worked in public accounting for many years and also served as the St. Joseph County auditor for eight years. Chizek was head of the accounting department at the University of Notre Dame and also worked part-time in public accounting. Following the death of Fred P. Crowe Sr. in 1952, Cletus F. Chizek reorganized the firm as Crowe, Chizek and Company and two firm personnel, M. Mendel Piser and Fred P. Crowe Jr., became partners. The first legal partnership of Crowe Chizek and Company was formulated in 1962 with six founding partners: Cletus F. Chizek, M. Mendel Piser, Fred P. Crowe Jr., Robert W. Green, Joseph A. Bauters and John J. Pairitz.[9]

By 1960, the umbrella organization Horwath & Horwath International Associates (HHIA) was established.[10]

In 1989, the organization shortened its name to Horwath International [11] and in 1991 Crowe Chizek became a member of the network.

Horwath International rebranded in April 2009, as Crowe Horwath International and in June 2018, Crowe Horwath sees a further evolution of their brand with a move to the network name 'Crowe' across their independent member firms globally.[3] [12] [13]

Organization

Kamel Abouchacra, is the CEO of Crowe Global.[14]

See also

Further reading

Notes and References

  1. Web site: Issues in China contribute to stalled growth for Crowe Global . Consultancy Asia . Consultancy Asia . 24 June 2020.
  2. Web site: Crowe Horwath International announces name change . Crowe Global . 5 June 2018 . 5 June 2018.
  3. Horwath International Takes on the Crowe name. Public Accounting Report. April 15, 2009.
  4. International Accounting Bulletin. World Survey. February 2016. 557.
  5. Web site: 1990: The other big accounting firm meltdown. August 5, 2002. Gregory Richards. Philadelphia Business Journal. January 1, 2017.
  6. Web site: PTL's Accounting Firm To File For Bankruptcy. November 19, 1990. News & Record Greensboro. January 1, 2017.
  7. The Alarm Clock. December 1, 1925. A Proposal to the Hotel Industry.
  8. Web site: Crowe Horwath International History. Crowe Horwath. January 1, 2017. https://web.archive.org/web/20170101162316/http://www.crowehorwath.ie/about-us/crowe-horwath-international-history/. January 1, 2017. dead.
  9. Web site: AccountingToday . AccountingToday . 2015-06-03 . https://web.archive.org/web/20160304043803/http://www.accountingtoday.com/news/2722-1.html . 2016-03-04 . dead .
  10. Web site: Financial Adviser and Placing Agent. Aseana Properties Limited. January 1, 2017.
  11. Web site: Horwath International. Trademarks on Call. January 1, 2017.
  12. Public Accounting Report. September 15, 2008. Crowe Adds Horwath to Name.
  13. Crowe Chizek gets new name. Accounting Today. October 6, 2008.
  14. Web site: New Chief Named at Crowe Global. Crowe Global. July 7, 2023.