Marking its 11th consecutive year of aggregate revenue growth, Big Four firm Deloitte Touche Tohmatsu reported global revenue of $16.4 billion, up 8.6 percent over last year.
According to the firm's first external annual review, tax saw the most revenue growth during the past two years, at almost 60 percent, followed by audit revenue, which rose more than 50 percent during the past two years. The firm said that consulting "experienced a slight decline" as a result of certain divestitures.
Audit accounted for the lion's share of the firm's total revenue, at $7.4 billion, followed by consulting at $4 billion, tax at $3.8 billion in revenue and financial advisory services at $1.2 billion.
By geography, the Americas accounted for the bulk of the firm's revenue, at $8.2 billion, followed by Europe, the Middle East and Africa, at $6.6 billion, and Asia Pacific and Japan at $1.6 billion.
The firm is predicting a 7 percent gain for fiscal 2005, "likely to be fueled by increased demand for corporate finance and transaction services (such as mergers and acquisitions and company reorganization services), forensic investigations and consulting services."
Deloitte also said that its member firms will continue rapid expansion in key markets, such as China and India.
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