PwC becomes world's biggest accountancy firm

PWC Building
By Isabelle Bell

7 October 2015

PwC has overtaken Deloitte as the biggest accountancy firm in the world, after reporting its strongest revenue growth in eight years of US$35.4bn (£23.17bn).

The Big Four firm enjoyed its highest growth in the Middle East and Africa (16%), and in India (17%). The firm announced a 10% growth in its UK revenue in September. 

Last month, Deloitte announced global revenues of US$35.2bn, while EY reported global revenues of US$28.7bn. KPMG is expected to announce its results in December.

PwC said it saw "strong growth across all areas of it business", particularly across its advisory operations and assurance services, despite the challenge of mandatory audit firm rotation in Europe and a competitive market.

Dennis M. Nally, Chairman of PwC International, said that the firm's strong growth was the result of investment in recruitment and building new product offerings, such as data analytics. He also said that the firm's strategic acquisitions have complemented and expanded PwC's core business.

He said: "The global business environment remains challenging, with a continuing patchy economic picture, geopolitical issues creating uncertainty for business and fierce competition in the professional services market.

"Technology is transforming all aspects of our lives and every business, so we are working in alliances with market leaders such as Google and others, to bring the latest and best technology thinking to our clients.

PwC added 53,000 people to its headcount during the last financial year, taking its total global workforce to 208,000.

Source: PwC

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