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Deloitte announces record revenues of US$34.2 bn.

A new avenue of financing has become available for young entrepreneurs in need of seed and working capital.

Bank Windhoek announced earlier this month, it has finalised an agreement with the National Youth Council to extend small loans to start-ups for further expansion on condition that the Global audit and business advisory group, Deloitte this week said growing demand for audit services gave them their fifth consecutive year of aggregate member firm growth, at 6.5% in local currency. Demand for consulting was particularly strong with growth of 10.3%.

On Wednesday this week, Deloitte member firms reported record aggregate revenues of US$34.2 billion for the fiscal year ending 31 May 2014. In its fifth consecutive year of growth, Deloitte saw accelerated demand for its range of services in all regions of the world.

Growth was led by Consulting, which experienced double-digit growth (10.3%), followed by Tax & Legal (7.7%), Financial Advisory Service (6.8%) and Enterprise Risk Services (4.2%).

The Deloitte group consists of so-called member firms, semi-independent auditing firms in their respective countries, each operating under the Deloitte banner, and promoting international Deloitte clients in their domestic jurisdictions.

Deloitte said its growth reflects its commitment to providing clients with high quality services through a multi-disciplinary model, delivering innovative solutions from strategy to implementation. Increasing client needs stemming from globalization and changes in business models, technology, and regulations are expected to drive further opportunities in the year ahead. The network is also steadfastly committed to the growth and development of its people, with more than 63,000 professionals receiving training via its Deloitte University curricula in the past fiscal year.

"By repeatedly forging new ground, Deloitte continues to stay ahead of the considerable disruption facing clients, our people, and the society in which we operate," said Barry Salzberg, Deloitte Touche Tohmatsu Limited CEO. "Member firms remain sharply focused on their unique ability to address the specific needs of their clients through distinctive breadth of skills, deep industry knowledge and strategic investments."

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Publication:Namibia Economist (Windhoek, Namibia)
Article Type:Financial report
Date:Sep 26, 2014
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