The Big Five firm reported net revenue of $19.6 billion. PwC reported all revenue in underlying local currencies, which it claims "provides a more accurate measure of performance in the countries where revenues are earned and profits distributed," instead of in U.S. dollars.

Fellow Big Five firm KPMG International reported revenue of $13.5 billion for fiscal 2000, an 11 percent increase over last year. Revenue at Deloitte Touche Tohmatsu jumped 14.1 percent to $11.2 billion, while Arthur Andersen reported global revenue of $8.4 billion, a gain of 15.4 percent. Ernst & Young reported a 14.1 percent jump in global revenue to $9.2 billion.

Revenue from PwC's North American practice rose 13 percent to $9.6 billion. The Asia-Pacific region expanded 23 percent to $2.2 billion, while PwC's practice in Europe/Middle East/Africa grew 16 percent to $8.8 billion. Growth in South America lagged at just 5.3 percent, due to "weaker overall economic conditions," PwC said.

Assurance and Business Advisory Services rose 11 percent to $8.4 billion.
Tax grew to $4 billion, a 17 percent jump. Management Consulting Services generated $6.6 billion in revenue, an increase of 14 percent.

PwC's Financial Advisory Services practice gained 21 percent, putting it at $1.5 billion. Global Human Resource Solutions saw a 31.3 percent jump in revenue to $719.9 million. Fueled by a strategic market shift to global, multi-process outsourcing, PwC said its Business Process Outsourcing services skyrocketed 166.2 percent to $218 million.

"Our focus now is to further enhance our innovative leadership in the networked economy by building on our traditional skill sets," said chief executive James J. Schiro.

-- SmartPros News Staff

Send comments to information@smartpros.com.

Back to NewsLine