• Register
Return to: Home > News > Tax > PwC global revenues same as Deloitte

PwC global revenues same as Deloitte

PwC has tied with Deloitte as the highest earning global accounting network after reporting revenue of $26.6 billion in the year to 30 June 2010.

The network grew revenue by 1.5% on 2009 results, although PwC’s global workforce shrunk by 1.5% to 161,118.

Deloitte announced global revenue of $26.6 billion and a workforce of about 170,000 in the year to 31 May 2010.

Assurance revenue contracted 1.3% to $13.3 billion, a solid result considering challenging economic conditions and considerable fee pressure in many markets.

Tax suffered the largest decline of 2.9% to $7.1 billion, which highlights a general slowdown in corporate transactions.

PwC’s consulting services showed the strongest growth of 15%, while advisory grew 7.9% in local currency terms to $6.2 billion.

Geographically, the Latin America region had the strongest revenue growth of 11.9%, followed by the Middle East (8.5%) and Asia (8.2%).

PwC said revenues were flat in Western Europe but slipped by in North America (-1.7%), Australasia (-3.3%) and Central and Eastern Europe (-5.1%).
PwC International chairman Dennis Nally said the increase in revenue is a creditable achievement and PwC firms maintained their positions as “market leaders” in key economies.

PwC has produced a strong result to maintain its position as joint leader, although current trends indicate Deloitte will become the highest earning network in a year’s time.

Deloitte has a much larger consulting practice than its rival because it decided to retain and build consulting post-Enron at a time when other firms were selling up. Today, consulting is the fastest growing service and PwC, like the other Big Four firms, are investing heavily to build up capacity and capability although Deloitte clearly has an advantage in this area.

Top Content

    Time pressure: Facing up to mental health

    In an ‘always on’ culture, it is becoming increasingly difficult to manage a healthy work-life balance. While companies are beginning to address this problem by introducing different support systems, Joe Pickard finds more could be done to ensure the wellbeing of the professions workforce.

    read more

    Venezuela: the race for the dollar

    With a new currency following hyperinflation, large sections of the population emigrating to neighbouring countries, an economy on the brink of collapse and no apparent solution coming from the government, Jonathan Minter finds a profession struggling to stay afloat in Venezuela.

    read more

    Brazil: transparency and control

    Brazilian accountants have an optimistic view of the impact of more-regular reporting and the implications of audit controversies for the profession. Paul Golden reports.

    read more

    Argentina: looking for a clearer view

    The Argentine accounting profession continues to grapple with the impacts of a weak economy and a culture of financial corruption. Paul Golden takes a closer look.

    read more

    Blockchain: adapting to disruptive tech

    In the relatively few years since digital currencies first began using blockchain technology, the array of potential applications has grown significantly – and continues to expand. Dan Balla, Matthew Schell and Dave Uhryniak from Crowe look at how it impacts accountancy.

    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.