Crowe Horwath International aggregate revenues grow 9 percent in 2016
NEW YORK, Jan. 26, 2017 /PRNewswire/ -- Crowe Horwath International ("Crowe Horwath") reported total global gross revenues of US$3.7 billion for calendar year 2016, ending 31 December, representing 9 percent growth at constant exchange rates.
"Crowe Horwath International's strong performance in 2016—marking the network's sixth consecutive year of revenue growth—was fueled by growth across all of our lines of business and in all of our regions," said Kevin McGrath, CEO, Crowe Horwath International. "I'm incredibly proud of what we've been able to achieve as a network this year. I'm most proud of all the hard work our now more than 35,000 people put in day in and day out to deliver smart decisions that deliver lasting value for clients, each other and the communities where we live and work."
Highlights:
- Assurance services accounted for 45 percent (US$1.66B) of total revenues, tax services accounted for 25 percent (US$927M) and advisory accounted for 30 percent (US$1.11B).
- Asia Pacific and Latin America led growth among developing markets experiencing exceptional growth rates of 19 percent and 16 percent, respectively.
- In the developed markets, North America experienced strong growth, increasing revenues by eight percent.
- Africa / Middle East and Europe each grew at two percent.
- Crowe Horwath continued to expand its geographic footprint, building scale across key markets. Eighteen new member firms were added last year in growth markets such as Central Europe and Germany.
- As of 31 December 2016, Crowe Horwath member firms provide services in 129 countries. Global workforce numbers climbed six percent to 35,327 people worldwide, which included an addition of more than 160 new partners across all member firms.
Notes:
- Download Crowe Horwath International's global highlights here.
- All growth rates presented in this press release are in constant exchange rates.
About Crowe Horwath International
Crowe Horwath International is ranked among the top 10 global accounting networks with more than 200 independent accounting and advisory services firms in 129 countries around the world. Crowe Horwath International's member firms are committed to impeccable quality service, highly integrated service delivery processes and a common set of core values that guide decisions daily. Each firm is well-established as a leader in its national business community and is staffed by nationals, thereby providing a knowledge of local laws and customs which is important to clients undertaking new ventures or expanding into other countries. Crowe Horwath International member firms are known for their personal service to privately and publicly held businesses in all sectors and have built an international reputation in the areas of audit, tax and advisory services.
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