PracticeAccounting FirmsPwC global fees edge towards £9bn

PwC global fees edge towards £9bn

PricewaterhouseCoopers, the world's largest accountancy firm, today announced global fee income of $13.8bn (£8.7bn) for the year ended 30 June 2002, a rise of 1% on last year.

Link: PwC wins Big Four firm of the year

Global revenues stood at $22.3bn (£15.5bn) for the year ended 30 June 2001. The firm attributed flat growth against previous years’ revenues to tough economic conditions in key markets, specifically North America and Latin America.

Assurance and business advisory services generated revenues of $7.99bn, compared to $8.7bn last year. Tax and legal services was also down on last year’s revenues producing $4.18bn.

In a new move to offer more transparency PwC published its global results this year in conjunction with the publication of its first ever global annual review. The review sheds light on auditor independence, quality standards for clients, as well as performance standards for employees.

Samuel DiPiazza, global CEO, said: ‘The events which have rocked global markets and the accounting profession in the past year require thoughtful debate and exchange. To that end with this first global annual review I hope we can open a conversation with our stakeholders – internal and external – to provide a snapshot of our organisation and to showcase the quality and integrity of our people.’

Its Big Four rivals continue to challenge PwC to publish its full accounts and unlike KPMG, Ernst & Young and Deloitte & Touche which publish their results by country, PwC offers no break down of fee income by country.

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