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PwC Australia revenue down 5%

PricewaterhouseCoopers (PwC) Australia has reported a five percent revenue drop to A$1.36 billion ($1.2 billion) for year to 30 June 2010.

International Accounting Bulletin research, due to be released in September, will show that several Australian firms reported revenue drops in their 2009/2010 fiscal years. This indicates that the good times for Australian firms may have halted due to challenging economic conditions.

PwC’s largest drop in revenue was in the audit business, which fell nearly 11 percent.

Employee numbers also fell by less than 1 percent to 6,216 people. The firm has 464 partners and 4,863 professional staff in eight offices.

Despite the revenue contraction, PwC is still the market leader in Australia.

To find out how the other leading Australian firms have fared, monitor the International Accounting Bulletin website in September.

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