PwC revenues grow by seven per cent to record US$37.7bn

All lines of business growing strongly

For the year ending 30 June 2017, PwC’s firms around the world reported total gross revenues of US$37.7bn.  At constant exchange rates (or local currency), revenues grew by almost seven per cent, marking 20 years of consecutive revenue growth for the PwC network.

“As the world changes and our clients’ businesses evolve, so PwC has been changing to meet the growing and increasingly complex needs of a much broader range of stakeholders and society at large,” said Bob Moritz, PwC’s Global Chairman.

“Our strategy of investing heavily in technology, quality, innovative new services and recruiting top talent paid off with strong revenue growth across all our lines of business, both new and established, in FY17. 

“While we remain optimistic about the future, we – along with clients – are planning for a wider range of economic and geo-political scenarios as we reflect on and learn the lessons of the past year.

“We have the best brand in the marketplace and this, combined with the strength of our people and our reputation for client service, has driven strong organic growth right around the world. 

“We continue to make selective, strategic acquisitions to strengthen our existing services and to accelerate the development of newer ones such as cyber security.  The deal to take the 600 strong tax function of GE into our network is a great example of this and one that will redefine the model of tax advice and compliance in the future.

“Innovation is the foundation of our success and we are embracing artificial intelligence, robotics and machine learning as we work to deliver success for our clients and stakeholders going forward. We’re also investing in areas such as our data privacy practice. As more and more data is generated and shared, and companies are exposed to new digital vulnerabilities, we’re helping clients to develop their cyber security and privacy programmes, and respond to incidents.

“We are also committed to being more transparent and this year, in our Global Annual Review, we are, for the first time, disclosing the results of our internal audit quality reviews. This is an important step on a road to increasing transparency for PwC which I hope will set a benchmark for our industry.”