Deloitte has reported annual global revenues of USD $38.8bn for the year ending 31 May 2017, up 5.4% from the previous year (USD $36.8bn).
Asia Pacific was Deloitte’s fastest growing region in local currency (9%), followed by Europe, Middle East, and Africa at 8.6% in local currency and the Americas 5.6% in local currency.
Deloitte’s revenues in risk advisory services grew by 12.9% driven by acquisitions in the cyber sector and investment in robotic process automation, risk sensing and predictive analytics. Consulting grew 10.2% and tax and legal went up 6.6%. Growth in China and the expansion of the Asia Pacific Financial Crime Network led to a 5.8% rise in financial advisory revenues, but audit and assurance only grew by 1% as a result of major capital investments.
Deloitte also increased its workforce by 8%, amounting to 263,900 global employees, compared to 244,400 the previous year. The majority of recruitment took place in the Asia Pacific with a 10.4% increase in staff in that region.
Race to the top: PwC is yet to release its financial result for FY17, but in FY16 it reported revenues of $35.9bn meaning it would need at least 8% growth in 2017 to overtake Deloitte at the top of the ranking table…. answer to come in October.