July 20, 2020 — In fiscal year 2019/20 all PrimeGlobal service lines saw continued growth, while PrimeGlobal firm staff grew by 7% to more than 24,000. PrimeGlobal reports a combined annual firm revenue of approximately US$3 billion with a 10% revenue increase.
Key highlights include:
- PrimeGlobal reports double digit growth with aggregated member firm revenue of nearly US$3 billion for the year ending May 31, 2020.
- With 10% combined member firm revenue increase, PrimeGlobal continues to experience growth in all service lines, with the largest increase in percentage shift globally for Tax services.
- PrimeGlobal reinforced its global presence by increasing the total number of countries from 85 to 90, with coverage across 852 locations.
- PrimeGlobal launched an initiative to globally coordinate its technology, business opportunities and talent development initiatives under PrimeGlobal Insights.
All four service lines — audit and assurance, accounting, tax and advisory — grew during fiscal 2019/20. Tax revenue grew the most globally, at 4.5%. Advisory area saw the second-highest revenue growth globally among PrimeGlobal firms, at an increase of US$76 million. On a regional basis, revenue in North America grew fastest at over 14%, followed by Europe, the Middle East and Africa (EMEA) at 6%.
“Undoubtedly, PrimeGlobal’s culture, diversity and reach is more attractive than ever. I am proud of this, as it means we can help our firms think differently and ensure they have access to the best opportunities and practices. In a world that is becoming increasingly uncertain, the connections which enable member firms to support their clients during times of constant change are more important than ever before. As disruption and transformation shape business and society today, PrimeGlobal is here to help members meet that challenge by building sustainable practices and ensure they emerge from the crisis ready to help clients build for the future,”
Steve Heathcote, PrimeGlobal’s Chief Executive
This year, PrimeGlobal launched an initiative to globally coordinate its technology, business opportunities and talent development efforts and opportunities for members. As the accounting profession is changing and new technologies, service lines and business opportunities are challenging the way we do business, PrimeGlobal launched PrimeGlobal Insights to serve as a global resource and innovation hub for driving change and identifying opportunities for member firms.
“Our performance in 2019/20 is evidence that a focused, purpose-led approach works. Through PrimeGlobal Insights member firms have gained the opportunity to explore, learn and develop their understanding on key industry trends. By sharing best practices and thought leadership, PrimeGlobal member firms have yet again proven themselves to be ahead of the curve and ready to face new challenges,” says Steve Heathcote.
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