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Another Year, Another Revenue Record For Deloitte in 2022

Posted on by Going Concern News Desk
Deloitte "if you just follow, you'll never lead" sheep billboard

This morning turned out to be a pretty big Big 4 news day. First, we had EY’s top brass approving splitting its auditing and consulting businesses (no surprise here). Then we had Deloitte announcing its global revenue for 2022—and it’s a record amount (no surprise here either).

The Green Dot pulled in $59.3 billion in revenue for the financial year ending May 31, an 18.1% increase over 2021’s haul of $50.2 billion. This puts a decent-sized buffer between Deloitte—the biggest accounting firm in the world in terms of revenue—and second place PwC. In an interview with the Financial Times in July, PwC Global CEO Bob Mortiz said the firm’s global revenue for its most recent fiscal year would be close to $50 billion, up from $45.1 billion in 2021.

Let’s take a look at Deloitte’s 2022 by the numbers:

  • $30.7 billion: The amount of revenue brought in by the Americas region, the largest of the three covered by Deloitte and a 22.1% increase over last year. The Europe, Middle East, and Africa region was next with $18.8 billion, followed by Asia Pacific with $10 billion.
  • $25.8 billion: The amount of revenue brought in by consulting, the most of any of Deloitte’s businesses, followed by audit and assurance with $11.4 billion, tax and legal with $9.9 billion, risk advisory with $7 billion, and financial advisory with $5.3 billion.
  • $16.1 billion: The amount of revenue for financial services, the most of any industry served by Deloitte, followed by consumer with $11.9 billion; government and public services with $10 billion; energy, resources, and industrials with $8.6 billion; technology, media, and telecom with $7.5 billion; and life sciences and health care with $5.3 billion.
  • 411,951: Number of Green Dotters around the world at the close of FY 2022.
  • 156,430: Number of new Deloitters hired worldwide in 2022.
  • 55%: Percentage of male employees; 45% of employees are women.
  • 25%: Percentage of female employees who are partners, principals, and managing directors. Deloitte set a goal of 30% by 2025.

The next contestant in the annual Big 4 dick-measuring contest will either be PwC or EY—both firms officially announce their revenue results in September. During a global all-hands employee call in July, EY Global CEO Carmine Di Sibio told his troops that the firm brought in $45.4 billion during its most recent fiscal year that ended on June 30. That’s a 13.6% increase over last year’s $39.95 billion.

KPMG will announce its 2022 global revenue in December.

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Thumbnail image for Thumbnail image for DTa.jpgOh, and they finally released their global revenue numbers.

Deloitte ended the suspense today, issuing their global revenues for fiscal year 2009 and issuing their “annual review”. For the past couple of months, we were speculating about the holdup since they have historically been issued much earlier.


Most of the comments at that time were taking the under on the revenues and they were right, as Deloitte came in at $26.1 billion. This was down 4.9% but the firm kindly reminds everyone that in local currency, there was actually growth of 1%, thankyouverymuch.

This, despite all the charts on Deloitte’s website showing the drop of 4.9%. Jim Quigley, Global CEO, and going with the local currency figures:

“Achieving positive growth in this exceptionally difficult economic environment was the result of close attention to the needs of clients and a strong commitment to professional excellence by our member firm professionals. Despite the tough economy, we remain focused on our vision to be the standard of excellence and will continue to invest in pursuit of this vision”

In addition to JQ’s assessment, an explanation of revenues by functional area continue to refer to growth while the chart shows decreases in revenues when compared to the prior fiscal year:

Consulting was the fastest growing function at 7.3 percent. Reflecting the challenging economy, both audit and tax were relatively flat against the prior year. Financial advisory services decreased by 6.1 percent from the prior year, primarily due to substantially decreased merger and acquisition activity.

On the chart, consulting was shown to only grow 2%, tax decreased by 5.5%, audit by 6.4%, and financial advisory by 13.8%. So, yeah, a little confusing. Not to mention that all of the charts present this information in what appears to be Enron Beezlebub.

Deloitte presents a whole bunch of additional information that is much larger, including how awesome the firm’s social network presence is:

• Over 75,000 members on Linked In
• Over 11,000 fans of their Facebook page
• Over 2,000 followers on their Twitter feed

And since they knew you were wondering, Deloitte uses 2.59 MWh of electricity per person, which amounts to carbon emissions of 1.31 Mt CO2 per person. Again, since this information is in much larger font, we’ll go out on a limb and assume that it positive news.

Seems like the typical spin, so we’ll take it for what it’s worth. Discuss your thoughts on Deloitte’s numbers and what it’s Facebook status might be in the comments.

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3 thoughts on “Another Year, Another Revenue Record For Deloitte in 2022”

  1. Deloitte mgmt: wE nEeD to cUt cOsTs…FiRe PeoPle. Lol folks this is what they did during the pandemic in 2020 and then they had record revenues. So how good were their projections if they can’t even project their future cash flows properly?

    2. I find it extremely unlikely that 25% of female employees are PPDs.

      “ 25%: Percentage of female employees who are partners, principals, and managing directors. ”

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