Global profits at PwC have risen by 8% to $31.5bn (£19.4bn), with improved performance in many of the major markets that the firm operates in.

Split across its divisions, assurance - the largest of the firm's practices - saw revenue increase to $14.9bn, while the advisory practice rose by 17% to $8.7bn and its tax profits grew to $7.9bn. PwC report that two-thirds of its advisory and tax revenue came from clients not audited by the firm.

The number of people employed to deliver these results increased by 7%, meaning PwC's global workforce now stands at more than 180,000 for the first time.

Strong results were reported in North and South America as well as the Middle East and Africa and Asia, with revenue increases for the last financial year of 13%, 15% and 8% respectively.

The Big Four firm also witnessed growth in the financially uncertain eurozone region, with 4% in Western Europe and 8% in Central and Eastern Europe.

Revenue at a national level rose in the US (15%), UK (6%), Russia (13%), China (14%), India (16%) and Brazil (14%), but fell in Australia and the Pacific by 5% due to 'an exceptional item' in 2011.

'PwC's ability to increase revenues in all key markets in a challenging economic climate is testament to the trust that clients have in the quality of PwC work, the talent of our people and the strength of the PwC network,' said Dennis M. Nally, PwC chairman.

He added: 'We are in the midst of a global economic rebalancing. Economic growth in the developing markets will continue to outpace expansion in the more established economies. That shift heightens the ongoing need to attract talented, skilled people and make sure they are located where our clients require them.'

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