Deloitte To Become Worlds Biggest Accountancy Firm

Thu, 02 Sep 2010

Deloitte is set to replace PricewaterhouseCoopers as the biggest global accountancy firm, according to the company’s global chairman John Connolly.

Mr Connolly said the ‘Big Four’ firm will reveal it has overtaken PwC as the world’s largest accountant when it publishes its global results in October.

His comments come after Deloitte reported UK revenues of £1.95bn in the year to 31 May 2010, a decline of £16m on the previous year. Annual profits fell by £18m year-on-year.

Mr Connolly underlined his "UK's best paid accountant" tag, receiving £5.1m, while each of the firm’s 672 partners received an average payout of £873,000.

The Deloitte CEO said that despite the fall in UK revenues, the firm would "easily" get back to £2bn in revenues before he retires in 2011.

"We have already done very well in the first quarter of this year, so I expect we shall return to double-digit growth," he commented.

"The M&A market has started to get much busier and our tax business is growing well again. Changes in regulation also mean good business for us."
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