EY announced combined global revenues of $29.6bn for its financial year ended June 30, 2016. Overall, financial year 2016 revenue grew by nine per cent in local currency  compared with the previous year.

Since the launch of its Vision 2020 plan in 2013, EY has recorded a strong 9.2 per cent compound annual growth rate. All of EY’s service lines delivered solid growth in FY16: assurance grew 4.8 per cent; advisory 13.1 per cent; tax 9.6 per cent and transaction advisory services (TAS) 14.2 per cent.

Ronald Attard, the EY Malta country managing partner, said: “Registering record growth for the sixth consecutive time in the financially and economically volatile years we call the present is truly remarkable. For EY Malta, and more so for our current and prospective clients, this is certainly good news. We are determined to continue building on this solid track record. The future is today.”

As part of its focus on innovation, EY member firms made 26 strategic acquisitions in FY16, which will bring expanded professional skills and capabilities to the market. Alliances, including seven new agreements signed in FY16, are also playing an important role in helping the global organisation bring preferential access to products and skills to the market. And the EY global innovation team, launched in FY16, is assisting in bringing leading-edge robotics and artificial intelligence to businesses.

EY also continues its $450 million investment program in innovations in audit quality.

Revenue increased across all four of EY’s geographic areas: the Americas 9.7 per cent; Europe, Middle East, India and Africa 7.5 per cent; Asia-Pacific 12.5 per cent and Japan 6.4 per cent.