PwC, EY, and KPMG are still looking at Deloitte’s tail lights.
For the fifth straight year, Deloitte will win the Big 4 dick-measuring contest in terms of annual global revenue, according to an Australian Financial Review report.
Deloitte expects a strong finish to the 2020 financial year despite the effects of the COVID-19 pandemic and has forecast global aggregate revenue of $US48 billion ($70.7 billion) and growth of 6 per cent. This will maintain its position as the world’s largest professional services firm by income.
In an email sent to the firm, global CEO Punit Renjen said this put Deloitte ahead of PwC, which used to lead the big four consultancies by revenue until Deloitte overtook it in 2016.
PwC’s global revenue for FY 2020 would have to increase 13% for the House of BoMo to catch up with Big D, and we know that ain’t happening. PwC had global revenue of $42.4 billion in FY 2019; Deloitte’s was $46.2 billion.
Deloitte’s 2020 fiscal year ended on May 31, and Deloitte U.S. celebrated the start of FY 2021 by getting rid of a whole bunch of people. Deloitte usually releases its most recent fiscal year global revenue results in September.
But the best part of this AFR article is this ridiculously hokey thing Renjen wrote in the email:
Mr Renjen told staff the firm’s “aspiration is undisputed leadership”.
“For five years we have said undisputed leadership is a function of growing ‘G’ (top and bottom) while we transform ‘T’ and protect/enhance the brand ‘B’. Or UDL = G+T+B,” he said.
“A pandemic impacts that journey – the story of FY20 being a tale of two halves – but it does not change the trajectory.”
UDL = G+T+B? LOL!
Deloitte leads the pack globally but not in Australia [Australian Financial Review]