COMPANIES Deloitte’s UK partnership has become the first of the Big Four accounting firms in six years to report shrinking revenue, underlining the harsh environment facing the professional services industry and the wider business world.
Professional services are considered a barometer of wider corporate health because of their close links to business. The UK industry, which is required to produce the most detailed financial reporting of any country, is closely watched because the London partnerships are generally the second-biggest in each of the global networks. US firms – the biggest – produce virtually no information on their profits.
