PricewaterhouseCoopers reported Tuesday its global gross revenues increased $56.9 billion for the fiscal year ending June 30, 2025, a 2.7% increase in terms of local currency and 2.9% in U.S. dollars compared to last fiscal year’s $55.4 billion.
The global network now includes 364,000 people across 137 countries and territories serving 82% of the Fortune Global 500. In the Americas, PwC’s revenues grew 5.5% to $25.5 billion, including strong revenue growth in the U.S. and Brazil. In the Europe, Middle East and Africa region, revenues increased 2.5% to $22.5 billion, with especially strong growth in Central and Eastern Europe and Spain. In the Asia Pacific region, revenues rose strongly in several countries such as Japan, India, and South Korea, though revenues as a whole in the APAC region declined 4.1% to $8.8 billion.
Advisory revenues increased 4.5% to $24.3 billion (or 4.4% if adjusted for changes in business structures). Assurance revenues grew 1.7% to$19.8 billion (without adjusting for changes in business structures). Tax and legal services revenues rose 1.0% to $12.7 billion (or 2.8% if adjustments are made to reflect changes in business structures during the year).
In FY25, PwC continued to scale up its $1 billion investment in its Next Generation Audit platform, using AI, automation and cloud-enabled delivery to transform how it delivers audits.
PwC is continuing to invest nearly $1.5 billion across its global network to expand its AI capabilities, including building a global AI factory, establishing AI hubs and Centers of Excellence around the world, and launching agent OS, an AI enterprise command center that connects and scales AI agents into business-ready workflows. PwC and Microsoft also announced a strategic collaboration to transform industries with the power of AI agents, sophisticated systems capable of performing tasks autonomously, analysing data and aiding decision-making.
“This has been a year of extraordinary complexity — but also of progress,” said PwC global chairman Mohamed Kande in a statement Tuesday. “I’m proud of the trust our clients continue to place in us as we help them reinvent and respond to the challenges shaping today’s economy. Across regions and all lines of business, our network delivered growth while making bold investments — $1.5 billion this year — to scale our AI capabilities and prepare for the future. Most of all, I’m inspired by our 364,000 people around the world who are leading with innovation, delivering with excellence, and creating lasting value for our clients and communities in 137 countries and regions.”
In June, PwC launched Assurance for AI to empower businesses with trust and confidence in their AI systems. Assurance for AI will complement our existing services by providing independent assurance over AI systems, giving businesses confidence that it is designed, deployed and operated responsibly and transparently, and aligned with regulatory expectations.
During a briefing with reporters Monday in PwC’s offices about its assurance technology, Accounting Today asked PwC executives about how the firm walls off its audit clients’ data from AI systems such as OpenAI’s ChatGPT. The firm also leverages Anthropic’s Claude.
“When we use any of the public or any LLM, whether it’s OpenAI or Claude, it doesn’t matter, we bring down the model into our environment in order to leverage its capability,” responded Jennifer Kosar, AI assurance leader at PwC US. “This is consistent with how most large organizations leverage models. They don’t use the public form of the model. It’s the opposite of what you’re talking about, where you would use a public model and post your data up. Mature organizations bring the model down into their environment and use the capability inhouse, and what that means is, when you are using it, you’re not ‘training the model’ with your data. You’re simply using the capability of the model and then putting your data into a stack around it. That’s always been how we’ve done it from day one. That continues to be how we do it today. That’s consistent. That just hasn’t changed. That’s how, that’s how most large organizations do it.”
PwC reported it has invested $3.1 billion across its global network, including 12 acquisitions and strategic investments to expand professional capability in key areas, especially AI and technology, consulting, business strategy and tax.
The firm has continued to build a network of alliances, partnering with technology companies such as SAP, Oracle, AWS, Google Cloud, Microsoft, Workday, Guidewire, Adobe, OpenAI and Anthropic.
