Save content
Have you found this content useful? Use the button above to save it to your profile.
AIA

PKF reports surge in member firm fees

by
5th Jan 2012
Save content
Have you found this content useful? Use the button above to save it to your profile.

PKF International has reported a 7% growth in overall member firm fees from $2.449bn in 2010 to $2.621bn for the financial year to 30 June 2011.

The top 10 accountancy firm saw tax revenues surge by 58% to $734m, while audit and accountancy revenues also grew strongly by 22% to $1.284bn. However, revenue from management consulting services plummeted 29% to $262m and corporate recovery fees fell some 69% to $52.4m.

By region, growth in member firm revenue was as follows:

  • Latin America - up 41%
  • Asia Pacific region - up 23%
  • Europe - up 16%
  • Africa - up 16%
  • North America – down 1%

Compared with the Big Four firms, aggregate revenues for Deloitte rose by 8.4% to $28.8bn for the year ended 31 May 2011 with growth led by strong results in developing markets across Asia Pacific and the Americas. KPMG announced member firm revenues of $22.7bn for the fiscal year ending 30 September 2011 - a 10.1% increase – with a 16.6% rise in Asia Pacific and 10.7% in the Americas.

Wolfgang Hofmann, PKF International chairman, said: “Given the backdrop of financial turmoil in the Eurozone and continuing low growth in the USA, it is very encouraging that there are such strong pockets of growth throughout the PKF International network.”

"Not surprisingly, PKFI’s fastest growth regions of Latin America and Asia Pacific reflect the shift of economic power to the BRIC countries. As we have significantly increased PKFI’s representation in these regions over the last 12 months, as well as recruiting a number of strong new firms in Europe in recent months, we are confident of sustaining our growth over the next financial year and beyond,” Hofmann said.

Tags:

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.