Deloitte has reported an 8.6% rise in annual
global revenues, its highest growth figure since 2008, and a result
which suggests the Big Four’s second largest network may regain its
status as world number one.

The firm achieved aggregate member revenues of
$31.3bn for the year ending 31 May 2012, a new record, and saw
earnings driven by growth in advisory services and rapidly
expanding business in the Asia Pacific region.

During the same period, the network hired
51,400 staff, bringing its total up to 193,000 and staying in line
with the ambition to employ 250,000 by the end of the 2015
financial year.

While Deloitte’s Financial Advisory and
Consulting practices led growth with 15% and 13.5% growth
respectively, audit and enterprise risk services saw a more modest
growth rate of 6%, while tax and legal revenue increased by only

In terms of revenue by client sector, the
field was led by energy & resources, where earnings were up 24%
over the year. Nevertheless, more than a quarter of industry
revenue was generated within the Financial Services sector, which
itself saw business increase 10%.

Deloitte’s revenues in the Asia Pacific region
rose 16%, with a notable surge in India (19%) and half of the firms
in the region – including China – achieving double digit

Revenue from the Americas rose 7.9% (with
Deloitte United States growing 9.1%), while even Europe saw growth,
led by the UK firm with an 11% increase. Member firms in Africa
reported double digit growth. 

The network’s global chief
executive Barry Salzberg commented: “In a challenging economic
environment, $1.4
billion of
Deloitte’s $2.5
billion aggregate
growth in the past year came from member firms in the three largest
economies in the world. I believe that is a testament to Deloitte’s
ability to not only gain strength in high-growth strategic markets,
but also continue to build momentum in established markets

Over the year under report, Deloitte worked
with more than 75% of the Global Fortune 500. The network
completed 30 acquisitions during the year.

The pressure is now on the world’s number one
network PwC to maintain its position when it announces its results
in the next month.

In October 2011, PwC overtook Deloitte to
achieve global primacy with an annual revenue total of $29.2
billion. This represented a 10% growth rate – if PwC can achieve
the same rate of revenue increase again, it will keep its