Optimistic Australian Budget Shores Up Future Growth For Big Four Firms

June 15, 2010
Nita Teoh, Big4.com

The release of the Federal Budget in May 2010 paints a bright future for the Australian economy. The budget predicts a return to surplus in 2012-13, as this commodity-rich country sells its wares to hungry Asian economies. The Government has forecast real GDP growth of 3.25 % in 2010-11, with a further increase to 4% in 2011-12. These are far better numbers than most other developed economies, and the robustness is evidenced by the recent hike in interest rates.

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Big4 Firms Make Top 250 in Latest Fortune 500 List

Fortune Magazine just released its Fortune 500 list of top US companies by revenue for the year 2008. Not surprisingly, the top companies in this list were oil giant Exxon at a staggering $443 billion, followed by ubiquitous Walmart at $406 billion, multinational oil companies Chevron at $263 billion & Chevron Phillips at $231 billion and international conglomerate GE at $183 billion. After the top ten, there is a steep drop with number 11 Bank of America at $113 billion and then down the list, number 50 Safeway with $44 billion, and then number 90 Alcoa with $28 billion.

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Deloitte First Out of Gate with 2007 Results: Revenues Up a Staggering 19%

Deloitte Touche Tohmatsu ("Deloitte") just came out with its fiscal year 2008 aggregate member firm performance for year from July 2007 to June 2008. Global revenue increased from US$23.1 billion in FY2007 by 18.6% in U.S. dollars, and 13.0% in local currencies to US$27.4 billion, marking an amazing sixth consecutive year of U.S. dollar double-digit revenue growth from continuing operations. Growth was seen in each and every service line and geographic region delivered strong growth. The global slowdown seemed to have no effect on this tremendous growth performance...

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Grant Thornton Revenue Up 17%

Grant Thornton LLP, the U.S. member firm of Grant Thornton International, reported on October 17th, that its revenues increased 17% to break the bilion dollar level for the fiscal year ending July 31, 2007. Revenues was $1.036 billion

Grant Thornton also said that of its 1,896 new client engagements, 1-in-5 were companies with global operations. But it did not provide much more than this high level info...

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