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Deloitte reports global growth for FY15, but decrease in audit revenues

Deloitte has reported global revenues of US$35.2bn in the year to 31 May 2015, up by 2.9% (7.6% in local currency according to the network) compared to the previous year, however the global network saw its revenue in audit decreased compared to FY14.

"Deloitte has invested US$500 million in advancing audit quality, including investing more than US$100m in innovation to continue to transform the audit and deliver value to the capital markets," the network said in a release, however the audit service line decreased by -2.9% in FY15, down to US$9.8bn.

Audit now represents 27.8% of the network's global revenues compared to 29% in FY14.

Besides audit, Deloitte has reported growth in all other service lines. The network's fastest growing business was enterprise risk services which grew by 9.4% up to US$3.5bn. Consulting revenues went up by 7% up to US$12.2bn; tax and legal by 3.1%, up to US$6.7bn; financial advisory by 3.3%, up to US$3.1bn.

Deloitte reported growth in the Americas and Asia Pacific regions, up to US$18.3bn (+ 5.2%) and US$5bn (+4.2%) respectively. However the network registered a slight decrease in its revenues in the EMEA region (-1.6%) down to US$11.9bn.

Deloitte hired 62,000 new professionals, representing a 15% increase in professionals hired over the last year and bringing the network total headcount to 225,000.

Deloitte Global CEO Punit Renjen said: "Deloitte's strong financial performance reflects the success of our multidisciplinary model, which drives the delivery of innovative world-class audit, consulting, enterprise risk services, financial advisory, and tax & legal services."

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