• Register
Return to: Home > News > Big Four > EY reports fastest growth since 2008, but share of assurance services in overall revenues drops

EY reports fastest growth since 2008, but share of assurance services in overall revenues drops

EY has reported annual revenues of US$28.7bn in the year to 30 June 2015, up 4.7% year-on-year and up 11.6% in local currency terms, but the contribution of assurance services to global revenues drops under 40%.

While in US dollars FY15 growth was slower than in FY14 (6%), in local currency term the global network said it recorded its fastest growth since 2008, up 11.6% against 6.8% in FY14.

Revenue by service lines (source: EY):

EY 15 fee split

Analysis
FY15 marks a clear drop in the importance of assurance services in global revenue for the Big Four network. Indeed in the year to 30 June 2015 assurance services accounted for 39.6% of the organisation's global revenues when it accounted for 41.2% of its revenues in FY14 and 47% in 2009.

Revenue by areas (source: EY):

EY 15 geo split

Despite uneven global economic conditions EY managed growth in all its geographies. In the developed markets growth was led by the US which grew by 12.5% to US$11.2bn, its largest increase in 10 years.

In emerging economies, India led the network's growth with a 19.7% increase in revenue. "Other strong regions included ASEAN (12.9%), Africa (11.3%), Mexico and Central America (17.3%) and Middle East and North Africa (14.7%)," EY said in a release.

"While short-term forecasts may be bearish on some emerging markets, we are seeing strong growth in these regions," EY's global chairman and CEO Mark Weinberger said. "In fact, we are confident in the long-term potential of these economies and continue to expect that 30% of our revenue will come from emerging markets by 2020."

In FY15 EY promoted 753 partners and 618 directly admited partners, 33% of which were from emerging markets and 31% of women, according to EY.

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.