Fee income at Big Four international network, Deloitte Global, is up nearly 8% in the last 12 months with reported revenues of $35.2bn (£22.7bn) for the fiscal year ended 31 May 2015, a 7.6% increase in local currency terms, driven by growth across all the firm’s core practices, particularly consulting
Revenue breakdown shows that the consulting division made the largest contribution at $12.2bn, up from $11.4bn the previous year. This follows a number of acquisitions over the reporting period to build up the network’s global consulting market share.
Audit revenues were the second largest at $9.8bn, but have declined since last year when they stood at $10.1bn.
Tax and legal increased marginally to $6.7bn compared with $6.5bn, as did enterprise risk management, up from $3.2bn to $3.5bn. Financial advisory revenues stood at $3.1bn, much the same as last year ($3bn).
The Americas region, including the US and Canada, accounted for the largest share of fee income at $18.3bn followed by Europe, Middle East and Africa (EMEA) at $11.8bn where business was down from $12.1bn on FY2014 when business grew substantially. There was marginal growth in the Asia Pacific region with reported income up to $5bn (2014: $4.8bn)) from Asia Pacific.
Across the network, financial services accounted for nearly 27% of global fee income.
Taking into account the network’s 10,247 partners, Deloitte Global’s fee/partner ratio is $3.43m (£2.2m). The equivalent figure for the UK firm is £3.29m.
Punit Renjen, Deloitte Global CEO, said: ‘Deloitte's strong financial performance reflects the success of our multidisciplinary model, which drives the delivery of innovative world-class audit, consulting, enterprise risk services, financial advisory and tax and legal services and creates an environment where the world's leading practitioners thrive.’
The Deloitte workforce grew across all regions and lines of business to over 225,000 during the year, while the firm hired 62,000 new professionals, 15% up on last year. Globally the network received 1.9m applications for jobs during the year, the equivalent to 151 applicants per position. It also offered 16,000 internships.
The network also reduced its number of global offices by one over the year, from 47 to 46.
The company’s global report also says it contributed a ‘societal impact’ of over $200m during the course of the year, made up of volunteer and pro bono work, plus donations to local communities.
Last year Deloitte took the top slot among the Big Four global networks for the second year running, when its fee income of $34.2bn just pipped PwC’s $34bn in revenues. PwC is set to release this year’s global revenue figures in October.
The Deloitte Global annual report is available here
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