EY revenue slows as consulting business stagnates

EY’s global revenue grew at the slowest pace in more than a decade last year amid a sharp slowdown in its consulting business.

The Big Four firm’s army of accountants and advisers brought in record fees of $51.2 billion in the 12 months to the end of June, a 3.9 per cent increase on the $49.4 billion of revenue that EY reported in its previous financial year.

“Over the past year, EY teams have demonstrated extraordinary resilience in a challenging economic climate,” Janet Truncale, the global chairwoman and chief executive of EY, said. “This resilience is driven by sustained investment in EY capabilities through a broad spectrum of services, such as leading artificial intelligence and tech.”

The slowdown was most keenly felt among EY’s consultants,

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