Andersen on the up - for now.
Big Five firm Andersen has announced global net revenues of #6.4bn for the fiscal year ended 31 August 2001, but warned ‘recent tragic events’ had already ‘adversely’ affected its new fiscal year.
According to the firm, which does not publish UK results, global revenue grew 15% while growth in Western Europe grew 9% to #2bn.
‘We realised solid revenue growth in all areas of our business assurance, consulting, corporate finance, tax and legal services,’ said Joseph Berardino, Andersen’s managing partner and chief executive officer.
He added: ‘Our financial results were especially heartening in light of the weakening economies around the world.’
Andersen’s tax, legal and business advisory practice enjoyed a 14% rise despite a worldwide slowdown in transactions and IPO work.
The admission of 589 new partners by member firms brings the total to 4,806 partners.