A buoyant international accounting market and growth in emerging countries sees single-figure growth in fee income to $180.9bn (£118.3bn), up 6.1% year on year despite increasing regulatory pressure, reports Rachel Willcox
With the global economy firmly on the road to recovery, 2014 on the whole marked a return to good fortunes for the world’s largest accountancy networks and associations. But the prospect of regulatory upheaval has led to muted enthusiasm as firms jostle for a slice of the audit pie and increasingly turn to consultancy revenues as a path to sustained growth.
The 25 largest accountancy networks and associations reported an aggregated 6.1% increase in fee income compared with the previous year, bringing combined global revenues to $180.9bn (£118.3bn), up from $170.5bn.
While the prospect of a return to double digit growth remains slim in the short term and the global outlook remains unsettled, a challenging risk environment for clients is throwing up new opportunities as businesses look to consultancy to boost their growth potential.
