Deloitte reported Tuesday its global annual revenues reached $35.2 billion in fiscal year 2015, a 7.6 percent growth rate in terms of local currency.
Deloitte said it experienced growth across all of its core practices, industry sectors and geographic regions.
Consulting (growing at 10.3 percent) is the largest business in Deloitte’s network, followed by audit (growing 2.9 percent).
Audit grew an aggregate 2.9 percent in local currency, slightly more than in FY14. Growth was strongest in the Asia Pacific region (4.2 percent). Increasing demand also drove performance in Latin America (6.7 percent growth) and Africa (5.5 percent growth). Deloitte member firms audit public companies with a combined market capitalization of more than $25 trillion, including approximately 20 percent of the Fortune Global 500.
Deloitte's consulting and advisory businesses are growing fastest across the network led by enterprise risk services (13.1 percent), consulting (10.3 percent) and financial advisory (8.2 percent). Tax and legal service grew an aggregate 6.8 percent in local currency, led by 18.9 percent growth in legal services as well as 5.0 percent growth in tax management consulting and 4.6 percent growth in indirect tax services. Globalization, business model changes, technology advances and the global tax changes spurred by the G20 and the Organiztion for Economic Cooperation and Development drove strong regional demand from clients in all regions: Asia Pacific (11.4 percent growth), the Americas (7.4 percent growth) and EMEA (4.7 percent growth).
Deloitte saw the most growth in its public sector and technology, media and telecommunications industry practices. Among industries, the public sector practice led growth (14.1 percent in local currency), followed by technology, media and telecommunications (9.4 percent), life sciences and health care (8.2 percent) and manufacturing (8.1 percent). Financial services posted strong growth of 5.0 percent and remains Deloitte’s largest industry practice.
Asia Pacific member firms had an aggregate 10.9 percent growth in local currency, more than doubling the 4.9 percent growth experienced in FY14. The India member firm posted the strongest growth at 28.2 percent followed by Australia at 15.0 percent growth, Southeast Asia at 14.0 percent growth and China at 10.6 percent growth.
Americas member firms grew by an aggregate 7.5 percent in local currency. As was the case in FY14, the strong growth occurred in Latin America, especially within Deloitte’s LATCO (18.4 percent) and Brazil (10.8 percent) member firms. The United States, the largest member firm in the network, grew 8.3 percent. The Americas continues to be the largest region growing at an average rate of 7.7 percent per year since FY10, in local currency terms.
Europe, Middle East, and Africa (EMEA) member firms experienced combined growth of 6.4 percent in local currency. Despite difficult economic conditions throughout Europe, significant growth was achieved in Italy (12.6 percent) and Spain (9.3 percent). Aggregate revenues for the Middle East sub region grew by 13.1 percent, including double digit growth for the Pakistan (20.3 percent), Israel (15.2 percent) and Middle East (9.0 percent) member firms.
The firm has invested $500 million in advancing audit quality, including investing more than $100 million in innovation to continue to transform the audit and deliver value to the capital markets. The firm is focusing on creating what it calls “the auditor of the future,” developing the skills, capabilities and mindset of current and next-generation Deloitte audit professionals.
Deloitte hired 62,000 new professionals across all regions and lines of business in fiscal year 2015, a 15 percent increase over FY 2014, reaching a total workforce of more than 225,000.
“Deloitte’s strong financial performance reflects the success of our multidisciplinary model, which drives the delivery of innovative world-class audit, consulting, enterprise risk services, financial advisory and tax & legal services and creates an environment where the world’s leading practitioners thrive,” said Deloitte Touche Tohmatsu Limited (Deloitte Global) CEO Punit Renjen in a statement. “Our growth is directly attributable to Deloitte’s professionals, who serve the world’s most important organizations with quality and distinction, making an impact that matters.”
In conjunction with the release of its revenues, Deloitte also published a 2015 Annual Global Report, highlighting how its professionals are making an impact on clients, people and society. Deloitte said it invested more than $200 million in community and societal impact initiatives around the world. The report describes how Deloitte member firms and professionals are providing pro bono advisory skills to aid humanitarian efforts and help young people access education and employment; and using cognitive and ambient computing technologies to help clients.
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