Combined revenues at Deloitte climbed 15.5% to $23.1bn (£11.3bn) for the year
ended 31 May 2007, as the global firm enjoyed 12 months of record growth.
This is the fifth year in a row that Deloitte has delivered double-digit fee
income growth. In 2007 every Deloitte service line in every country enjoyed
double-digit fee income increases.
‘The results validate Deloitte’s strategy to offer the breadth of services
and deep competencies,’ James Quigley, Deloitte’s global CEO.
Financial advisory services showed the largest growth, increasing 25.2% to
$1.89bn. Consulting and tax services each grew 16.5 percent to $5.19bn and
$4.98bn respectively. Audit income rose by 13.1% to $11.08bn, with strong
results in the core assurance services as well as enterprise risk services.
Geographically, the Asia Pacific region was the fastest growing in local
currencies, increasing 17.2 percent to $2.46bn. The Europe-Mideast-Africa
region grew 12.6 percent to $9.18bn and the Americas region grew by 11.9 percent
‘The multi-million dollar investments in emerging markets like China and
India are enabling Deloitte member firms to grow their local practices to serve
our clients in those rapidly expanding markets,’ Quigley enthused.
Quigley also remained optimistic on prospects for the future, despite recent
turmoil in credit markets
‘We cannot ignore the potential impacts of a weakened US housing market,
tightened lending environment, and expected slowdowns in some major economies.
At the same time, Deloitte is stronger than ever to adapt to new challenges,
manage change, and help our clients overcome adversity,’ he said.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com