Aggregated revenue of PwC by service line 2010-2020

Accounting firm PricewaterhouseCoopers (PwC) reported growth across all three of its main service lines in 2020, helping the firm achieve an annual gross revenue of over 43 billion U.S. dollars. PwC generated approximately 17.6 billion U.S. dollars from its assurance services, but the firm’s advisory services saw the biggest year-on-year growth, rising by 312 million U.S dollars between 2019 and 2020.

Clients preparing for digital transformation

The aggregated gross revenue of PwC grew by around 584 million U.S. dollars from 2019 to 2020, an increase that will see the firm maintain its position as one of the Big Four accounting firms worldwide. The largest share of the firm’s total revenue comes from its assurance service line, but its advisory operations continue to grow year-on-year and increased by around 2.2 percent in 2020. Clients ranging from small startups to huge multinational companies are all facing the challenge of making sure they have the skillset required to cope with the challenges of the digital world; to help build for the future, an increasing number of clients are seeking advice of accounting firms such as PwC on topics such as data analytics and cybersecurity.

Building a professional services network

PwC is a brand name under which a network of independent firms from across the world join forces to meet the needs of clients. The member firms of this professional services network operate within an organized framework and can draw upon the resources of other members. Each firm provides expertise in one of the specialist branches of the accountancy profession, be that advising on the latest market trends or discussing the complex legal issues of a merger. The responsibilities of accountants in today’s world are continually evolving, but the core duty is the same independent auditing of financial records that saw the profession gain prominence back in the 19th century.