PwC’s global revenue grows to $43bn amid shutdowns, trade disruptions

The Big Four accounting firm PricewaterhouseCoopers' (PwC) annual revenues rose three percent, to $43 billion, globally for the 12 months ending June 30, 2020 despite the impact of Covid-19.

The firm's annual revenues hung on to a 1.4 percent increase over 2019. For the year 2018-2019, its gross revenues were $42.4 billion, PwC said in a statement.

"While we adapted quickly to many of the new challenges that the Covid-19 pandemic brought, there is no doubt that the next 12 months and beyond are going to be difficult," Bob Mortiz, chair of PwC's international network, said.

"Our economists are predicting that the global economy will contract by 5.5 percent by the end of 2021 and while different countries will recover at different rates it is clear that the economic downturn will impact us and our clients across the world," Bob continued.

PwC is among the world's leading professional audit, tax and advisory network organisations operating in 742 cities in 157 countries around the world with a workforce of more than 276,000 people.