The UK’s largest accounting practice, PricewaterhouseCoopers, maintained its
position as the most powerful firm in the country as it reported a 12% increase
in revenues this morning.
Overall revenues came in at £1.7bn for the year ended 30 June 2005. The firm
benefited from Sarbanes-Oxley regulation and International Financial Reporting
Standards, as assurance revenues rocket by 18% to bolster the firm’s overall
turnover by £100m.
PwC chairman Kieran Poynter said the firm had benefited from strong demand
for professional services.
‘In a buoyant marketplace we performed strongly across the board,’ said
Poynter. But he warned that the impressive growth generated from IFRS and
Sarbanes-Oxley was ‘unlikely to be repeated’.
The firm’s tax arm grew 8%, advisory services climbed 9% and performance
consulting saw a 28% rise in turnover. Business recovery services fell 6%.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process