Multinational auditing and consulting firm, Price Waterhouse Coopers, PwC, International Ltd has posted global gross revenues of $35.9 billion for the fiscal year ended June 30, 2016. The firm said at constant exchange rates, its total global revenues rose by over seven per cent.
Chairman of the firm, Bob Moritz, said the revenue growth was as a result of the strength of its brand, the opportunities it provides for its people, the quality of services and its focus on meeting the needs of stakeholders.
Noting that these attributes remain at the heart of PwC and how it measures its success, Moritz said, “Our revenue growth in fiscal year 2016 across all major markets and businesses is testament to our fundamental purpose of building trust and solving problems.”
He said that to secure future growth, PwC was investing heavily in technology to enhance the quality and impact of its services and make the best use of the skills of its people. “The world is changing rapidly and we are planning for the services our clients, capital markets and other stakeholders will need tomorrow, as well as serving their needs today,” he said.
Moritz said whether it’s the tax and audit services of the future, transformational consulting, block chain or augmented reality, the firm was implementing a strategy to meet the long-term needs of its stakeholders and the career aspirations of its people.
“This is an era of unprecedented scrutiny and the public expects more from business today. We are focused on how we can best serve not just the needs of our core stakeholders, but society at large. This is reflected in our purpose, the culture we’re building right across our network and in the stories we tell in our annual review,” he stated.
PwC’s fiscal year 2016 global annual review is an online digital experience that uses video, graphics and stories to show who the firm is, what it does, what it thinks and how it is doing.
In North America and the Caribbean, revenues grew by eight per cent boosted by a strong performance from the United States (US), the firm’s largest market in the world. While in South and Central America, revenues were up nine per cent.
In Western Europe growth was steady, up six per cent. Central and Eastern Europe posted robust revenue growth of 10 per cent.
Demand for PwC’s network’s audit and assurance businesses remained strong despite fierce competition and price pressure across the world. In the year under review, PwC’s $15.3 billion assurance business grew by six per cent.
