Deloitte posts annual global revenue of 37bn dollars

For the fiscal year ending 31 May 2016, Deloitte has revealed a 9.5 per cent revenue increase up to $36.8bn (£27.5m) across its global network.

This is now the seventh year in a row that Deloitte’s revenue has grown, with the latest increase being the highest in 10 years.

Aided by increased demand in cyber and regulatory services, there was a 22.5 per cent growth in Deloitte’s risk advisory practice, the largest growth of all its main businesses. Following in second with 10.8 per cent growth was Deloitte’s consulting business, marginally ahead of Deloitte Tax and Legal which had a 10 per cent growth.

In the last fiscal year, 71,800 workers were hired by Deloitte, now taking it up to 244,400 employees around the world and representing a workforce increase of 8.5 per cent. This was the sharpest increase in headcount in the last three years.

Since 2008, Deloitte has invested $650m globally to enhance the consistency, relevance and quality of audits, as well as creating a Financial Services Blockchain Lab in Ireland.

Punit Renjen, Deloitte Global CEO, said: “Deloitte’s growth last year is a reflection of the tangible value, and high-quality professional services, we provide to our clients.

“Deloitte takes pride in helping clients succeed in a global business environment marked by volatility and digital disruption, and in our role as stewards helping ensure the proper functioning of global financial markets.”

Deloitte is currently battling it out with PwC to be the largest accountancy firm in the world based on revenue, with PwC expected to release its global results later this month.