Big4.com released its 2011 performance analysis for the…er…Big 4 this week and there were a few items of note. PwC is the big enchilada again. KPMG surprised everyone with the largest growth in revenues (albeit barely), closing in on 3rd place E&Y. OH! And the $103 billion in revenue is the most ever earned by the four horsemen.
Results for the current year, 2011, have been extraordinarily buoyant, with all service lines and geographies recording terrific growth from 2010, lifted by emerging countries, improvements in equity markets, and return to global economic growth and executive optimism. Combined 2011 revenue for the four firms rose to historic high levels of $103 billion, up 9% from 2010, and surpassing the previous record of $101 billion set in 2008.Ernst & Young revenues grew the slowest at 7.6%, Deloitte at 8.4%, PwC increased 10.0% and KPMG grew the fastest at 10.1%. PwC grew faster than Deloitte and posted 2011 revenues of $29.2 million, $400 million more than Deloitte, thus reestablishing its leadership position as the largest accounting firm on the planet.
There were also story lines that didn't surprise at all. The advisory business is hot. The audit business blows. Business in Asia is hot. Business in Europe blows. Hiring is on the rise after a couple of years off. All in all, everything appears to be hunky dory. Unless, of course, you work there and are feeling shortchanged. Check out the full report below if you simply can't get enough.
