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
website in September.