Deloitte national revenue breaks $1.5 billion as firm announces three new Perth partners
29 June 2016: Professional services firm Deloitte Australia has announced record revenue of $1.530 billion for the year ending 31 May 2016 (FY16). This is a 15% increase over the prior year ($1.336 billion) and the second consecutive year of double-digit growth, matching the 15% growth in FY15.
Deloitte saw double digit growth across the majority of its practices, with demand particularly strong for Consulting, Risk Advisory and Assurance & Advisory.
Deloitte in Western Australia
Deloitte WA Managing Partner Michael McNulty said: “We have seen modest growth in our Perth practice, a pleasing result given the decline in the Western Australia economy.
“Against this backdrop, clients are seeking out Deloitte to assist them with managing costs, driving productivity initiatives and using innovation to buck the trend in this uncertain environment.
“Many local resource sector and related businesses are continuing to navigate the transition in the economy, and the public sector is very much focused on expenditure control as a result of the deteriorating budget position.
“Lower global growth and some specific geopolitical issues are also impacting on business confidence, causing businesses to be cautious in their decision making. This is creating a much slower business environment than what we have been used to in Western Australia in recent years.”
Mr McNulty also confirmed the promotion to partner of three of the firm’s best talent, and the recent arrival of experienced audit partner Ian Skelton who has joined from BDO, returning Deloitte Alumni and risk assurance specialist Adam Stock and Jennifer Delany, a government advisory partner who has relocated from Melbourne.
“Our new partners have deep experience across a range of skills and industries across both the public and private sectors. They are a clear demonstration of our commitment to investing in our people and developing talent,” he said.
“We are no doubt in a challenging environment, but remain confident in this market and will continue to invest. Our relocation to Brookfield Place Tower 2 earlier this year is also giving us the added flexibility to continue to grow our local practice, drive greater collaboration across our business and even better meet the needs of our Western Australian clients.”
Deloitte’s new Perth partners as of 1 July 2016 are:
- Dave Andrews – Assurance & Advisory
Dave has extensive experience across a variety of audit and assurance areas, including internal controls, governance and compliance, external audit and due diligence, with a particular focus on serving local and international energy and resources clients
- Megan Strydom – Assurance & Advisory
Megan’s core areas of specialisation is the provision of technical accounting advice, finance function advisory services and deep technical expertise in the area of large scale accounting change management projects
- Lewis Stewart – Consulting
Lewis is a strategy and operations specialist and has extensive international experience in program leadership of large-scale transformational initiatives, having worked in cutting-edge technology and IT engagements in both the public and private sectors.
In addition, Deloitte in Western Australia also welcomed three other partners in recent months:
- Jennifer Delany – Assurance & Advisory
Jennifer has significant experience working with finance teams to transform their close and deal with complex transactions and accounting changes and designing and leading large financial reporting reform projects.
- Ian Skelton – Assurance & Advisory
Ian has extensive experience in both local and international markets, advising energy and resources groups across all aspects of the life cycle, from explorer to multi-operation producing assets, and the services companies that support them.
- Adam Stock – Risk Advisory
Risk assurance specialist Adam’s experience spans the delivery of internal audit, risk management, governance and assurance transformation activities for public sector, financial services and utilities clients.
The three new Perth partners are among 48 new partners nationally, and in addition to the 38 partners that joined the firm as lateral hires or through transactions over the past year.
The national result
Commenting on Deloitte’s national revenue result, CEO Cindy Hook said: “I am very pleased that our growth continues to significantly outpace GDP, and that we are maintaining our strong momentum. This result is a reflection of the value leading Australian businesses place on the services we provide.
“The rapid pace of change in the world today requires business leaders to strike a balance between delivering operating profits today, and investing in transforming their business models to enable sustainable growth and profitability in the future.
With 74% organic growth nationally, Deloitte will continue to invest in businesses that build or enhance its capability and service offerings. Transactions in FY16 included:
- Qubit, an identity security and management firm, that further strengthens Deloitte’s expertise in cyber security risk management
- Cloud Solutions Group, a specialist cloud consulting firm that builds Deloitte’s leading capability in technology infrastructure advisory services
- MashUp, a spatial design firm which has enhanced Deloitte’s customer practice through the ability to create seamless digital and physical customer experiences
- Engage Super, the largest SMSF audit specialists in the country
The year ahead
“Looking to the year ahead, we are confident of continued growth,” said Cindy Hook. “We have developed a bold and innovative strategy to enable us to continue embracing disruption, develop new capabilities and enhance existing ones. We have a strong, people-centric culture, a unifying purpose and an enduring focus on providing our clients with diverse, multi-disciplinary teams to help solve their most complex problems.”
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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 225,000 professionals, all committed to becoming the standard of excellence.
About Deloitte Australia
In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, and winner of both the Australian Financial Review/CFO Audit Firm of the Year and Accounting Firm of the Year awards 2013, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 6,000 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. For more information, please visit Deloitte’s web site at www.deloitte.com.au.
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