RSM US

Last updated
RSM US LLP
Company typeLimited Liability Partnership
Industry Professional services
Founded1926; 99 years ago (as IB McGladrey Company)
FounderIra B. McGladrey
Headquarters30 South Wacker, Chicago, Illinois, U.S.
Number of locations
81 U.S. and Canadian offices (2024)
Area served
United States and Canada
Services Audit
Tax
Management consulting
Risk advisory
Technology consulting
Financial advisory
Legal
RevenueIncrease2.svg $3.7 billion USD (2024)
Number of employees
16,800+ (2024)
Parent RSM International
Website rsmus.com

RSM US LLP is an audit, tax, and consulting firm focused on the middle market in the United States and Canada. It is a member of the global accounting network RSM International. RSM US was ranked the fifth-largest accounting firm in the U.S. by Accounting Today in 2025. It employs more than 16,000 professionals across 77 locations in the United States, including six locations in Canada, one location in El Salvador and four locations in India.

Contents

In FY 25, RSM US reported $4 billion in revenue and over 1,000 partners and principals.[ citation needed ]

History

The firm was founded in 1926 by Ira B. McGladrey (1883-1952) in Cedar Rapids, Iowa. McGladrey became a prominent figure in public accounting in Iowa, serving as President of the Iowa Society of Certified Public Accountants, chairman of the Iowa Board of Accountancy, as well as a member of the Rules Committee of the American Institute of Certified Public Accountants, the premier governing body for the field of accounting in the United States. [1] The firm continued to operate under some variant of the McGladrey name for nearly nine decades, until 2015 when the firm was rebranded as RSM US LLP.

RSM US LLP's headquarters at 30 South Wacker tower of the CME Center. Cme building aerial view.jpg
RSM US LLP's headquarters at 30 South Wacker tower of the CME Center.

Beginning in 1999, through a partnership with H&R Block, McGladrey operated under two separate legal entities: McGladrey & Pullen, LLP; and RSM McGladrey, Inc.

McGladrey & Pullen operated under the traditional partnership structure and offered audit and attestation services. RSM McGladrey was established under the partnership agreement with H&R Block to provide tax and advisory services under an alternative practice structure.

In August 2011, H&R Block announced the conclusion of the partnership, divesting RSM McGladrey to McGladrey & Pullen and reuniting the firms in their traditional partnership structure. McGladrey & Pullen acquired all employees, assets, and infrastructure from RSM McGladrey. The deal closed on December 1, 2011.

On May 1, 2012, McGladrey & Pullen officially changed its name to McGladrey LLP. In July 2012, McGladrey shifted its headquarters from Bloomington, Minnesota to Chicago.

On October 26, 2015, McGladrey LLP changed its name to RSM US LLP as part of a worldwide rebranding of RSM International members to bring them in line with the rest of the global network.

Controversies

In 2019, RSM was charged with violating auditor independence rules by the SEC. The charges were in connection with more than 100 audit reports involving at least 15 audit clients. RSM agreed to be censured and was fined $950,000. [2]

In June 2020, RSM settled a professional negligence claim brought by Physicians United Plan for $17 million. [3]

In 2022, the SEC charged RSM, two partners and a senior manager with improper conduct charges. RSM agreed to pay $3.75M to resolve the charges. [4]

In the 2024 Public Company Accounting Oversight Board (PCAOB) Inspection Report, the PCAOB gave RSM an audit deficiency rate of 47%. This is an improvement from a low in 2018 when 73% of audits conducted by RSM were deemed to be deficient by the regulators. [5]

Service lines

Audit and financial reporting services

Source: [6]

Tax advisory services

Source: [7]

Consulting services

Source: [8]

Awards and recognition

2022 - 2023

Source: [9]

Sponsorships

RSM US LLP is the title sponsor of the RSM Classic, a PGA Tour event that takes place in Sea Island, Georgia in November of each year. The firm also sponsors professional golfers, such as PGA Tour professionals Zach Johnson and Davis Love III, as well as LPGA professional golfers Maria Fassi and Megan Khang. [10]

References

  1. ↑ Iowa City Press-Citizen https://www.newspapers.com/clip/31714394/obituary-ira-b-mcgladrey/
  2. ↑ "SEC.gov | RSM US LLP Charged With Violating Auditor Independence Rules". www.sec.gov. Retrieved 2024-06-24.
  3. ↑ "Miami Law Firm Clinches $17 Million Professional Negligence Settlement Against Major Accounting Firm". Law.com. Retrieved 2025-09-16.
  4. ↑ "SEC.gov | SEC Charges Audit Firm RSM and Three Senior-Level Employees with Failure to Properly Conduct Client Audits". www.sec.gov. Retrieved 2024-06-24.
  5. ↑ "Firm Inspection Reports". Default. Retrieved 2025-05-22.
  6. ↑ "Audit - Financial reporting services for global middle market | RSM". rsmus.com. Retrieved 2021-07-15.
  7. ↑ "Tax advisory and compliance services | RSM". rsmus.com. Retrieved 2021-07-15.
  8. ↑ "Consulting - Advisory services for middle market business | RSM". rsmus.com. Retrieved 2021-07-15.
  9. ↑ "Awards and Recognitions". rsmus.com. Retrieved 2021-07-15.
  10. ↑ "Team RSM".
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