Deloitte reports ‘record’ revenues of $59bn in FY22

Deloitte has welcomed record global revenues of $59.3bn (£50.8bn) for the fiscal year in FY22, a 19.6% increase in local currency against the prior year. 

In a seven-year period, Deloitte has seen its revenue grow by $24bn (£20.5bn), or 69%, in USD terms.

Among its businesses, Consulting revenue grew fastest at 24.4% in USD, followed by Financial Advisory, which grew 22.1%. Meanwhile, Technology, Media and Telecommunications (TMT) was the fastest growing industry, followed by Financial Services. 

Among the regions, the Americas grew the fastest at 22.1%, followed by Asia Pacific (APAC) at 17.1%.

In the latest financial period ending 31 May, 2022, the Big Four firm said it has “sustained our relentless focus on quality” by transforming its Audit and Assurance practice through the use of new technologies, training, and process improvement. 

Through global organisation, delivery centres, and a “strong collaboration” between Consulting, Advisory, and Tax, it also increased its global alliance and ecosystems sales by 23% from the previous year, contributing to around 27% of Deloitte’s FY2022 aggregate sales. 

The firm also noted it strengthened its relationships with 15 alliances globally by “co-creating innovative assets, going big on social venture initiatives (e.g., Sustainability and Climate, Diversity and Inclusion), and executing ecosystem strategies that drive short and long-term benefits to clients”.

Punit Renjen, Deloitte global CEO, said: “Over the past several years, we have steered a remarkable course to become the leading professional services organisation in the world. The power of our multi-disciplinary and private partnership model along with our global strategy drives our performance, allowing Deloitte to serve clients with distinction, take care of our people, give back to our communities, and uphold the public’s trust. 

“These principles have also helped us successfully navigate another tumultuous year of further unexpected shocks—from geopolitical conflicts to an ongoing pandemic to extreme environmental events and the highest inflation in a generation.”

He added: “By staying true to our purpose to make an impact that matters, our people have demonstrated their resilience by flexing and adapting to meet the challenges of the past year, all the while focusing on building better futures—for our people, clients, and communities.”