September 17, 2019

Deloitte Is the Biggest Accounting Firm in the World Again (No Thanks to Its Audit Business)

If you recall, Chez Salzberg put up a good number, $32.4 billion in global revenues to be precise. PwC, as we mentioned this morning, came in at $32.1 billion so yes, that puts Deloitte on top of the Big 4 heap again after it's one-year wonder back in FY10

In such a tight race, every dollar counts so the numbers in the Wall Street Journal give us an idea of how the firm clawed its way back to the top: 

PwC's advisory business rose 7.6%, compared with 1.4% for auditing. Deloitte's consulting revenue rose 7.1%, and its financial-advisory revenue was up 4.7%, compared with growth of 0.5% in auditing.

That decision to not spin off the consulting business is sure paying off in spades; be a shame if something happened to it.

As for the auditors — go back to your windowless conference rooms and we'll call for you when the advisory implodes. 

[WSJ]

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