PwC Regains Global Number One Spot

PwC HAS SKIPPED back ahead of Deloitte as the world's largest firm.

Gross revenues of $29.2bn for its firms for the year ended 30 June 2011 - compared to Deloitte's $28.8bn.PwC saw revenues increase by more than 10%, compared to 8% at Deloitte, and up 8% at constant exchange rates.

Headcount has increased to 169,000 during the period.

Western Europe revenues rose modestly by 4%, while Australasia grew 38%, Middle East and Africa 20%, South and central America grew 23%.

Audit revenues grew 7% to $14.1bn, which PwC described as "an excellent performance in light of the fiercely competitive market...and downward pressures on prices".

Assurances revenues climbed 20% to $7.5bn, and tax up 8% to $7.6bn.

"PwC's FY 2011 results show that our clients value the quality of the services we provide in these volatile economic times," said PwC International chairman Dennis M Nally.

"We expect our growth to remain healthy in FY2012 as companies continue to position themselves for better times."