The PwC network reported total global gross revenues of US$35.9 billion for the fiscal year ended on 30 June 2016. At constant exchange rates (local currency), PwC's total global revenues rose by over 7%
“The strength of our brand, the opportunities we provide for our people, the quality of our services and our focus on meeting the needs of our stakeholders are at the heart of PwC and how we measure our success,” commented Bob Moritz, Chairman of PricewaterhouseCoopers International Ltd. “Our revenue growth in FY16 across all major markets and businesses is testament to our fundamental purpose of building trust and solving problems.”
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services.
Creating value for our clients, our people and the communities we live and work in is at the heart of PwC. And what binds us together is one common purpose – to build trust in society and solve important problems. Take a look at our stories to find out how we are bringing our purpose to life.
We're constantly looking at ways to provide greater clarity about who we are, what we do and how we do it. We see this commitment to transparency as a clear responsibility and the inevitable consequence of the impact our business has on our stakeholders, the capital markets and the communities in which we live and work.
More revenue growth is coming from developing markets – particularly Asia where revenues grew by 10%, with strong performances in India and China.
North America and Carribean
In North America and the Caribbean revenues grew by 8% boosted by a strong performance from the US, our largest market in the world.
South and Central America
In South and Central America, revenues were up 9%.
In Western Europe growth was steady, up 6%. Central and Eastern Europe posted robust revenue growth of 10%.
Serving the needs of the capital markets is the core of our assurance business and our brand. Demand for our network’s audit and assurance businesses remains strong despite fierce competition and price pressure across the world. In FY16 PwC’s $US15.3 billion assurance business grew by 6%. Broader assurance services such as IT, risk and data assurance are all areas where PwC is driving innovation and increasing investment.
Advisory growth of 8% to $US 11.5 billion, was driven by an increased demand from clients for our network’s strategy through execution services and by excellent growth across a broad range of consulting, forensics and deals-related work. In particular, cyber security, digital and data & analytics services benefitted from our significant recent investments.
The strong market for deals positively impacted our network’s tax operations, with revenues increasing by 7% to US$9.1 billion. In addition there was continuing strong demand for compliance, corporate consulting and transfer pricing work globally.
Quality continues to be the driving force of all PwC’s operations around the world. In FY16 alone
US$500 million was invested to further enhance the quality and delivery of our services as we continue to focus rigorously on meeting the needs of our stakeholders.
The PwC network welcomed a record level of new joiners to the network, adding 58,081 people in FY16, including 26,780 graduates. Overall PwC’s global headcount grew by over 7% to more than 223,000 people. The largest increases in workforce were in the strongly-growing markets of Asia and Central and Eastern Europe. In addition 83% of people say they are proud to work at PwC. PwC’s global presence remains strong with offices in 743 locations across 157 countries.
In FY16, PwC firms and people donated US$63 million to community activities and more than 820,000 working hours in professional services and skilled volunteer activities.
PwC Greece supports the Orange Grove start-ups and the blood donations which were co-organised with the social start-up Bloodie. Both initiatives are included amongst PwC's global CR best practices in the Global Annual Review. Find out more about more about PwC Greece's Corporate Responsibility activities here.