The accounting and professional services firm highlighted technology and compliance among its key areas of growth, which was most evident in the East.

PricewaterhouseCoopers logged global gross revenues of a record $35.9 billion for the financial year ended June 30, 2016, largely thanks to strong performance in Asia. At constant exchange rates, global revenues were up by 7 per cent.

In Asia, revenues grew by 10 per cent, driven by growth in India and China. In Western Europe, growth was steady at 6 per cent, while Central and Eastern Europe saw revenues climb 10 per cent.

In North America and the Caribbean, revenues were up by 8 per cent, boosted by the US, the firm’s largest market. Meanwhile, in South and Central America, revenues rose 9 per cent.

In business areas worth noting, advisory revenues increased 8 per cent to $11.5 billion, driven by a surge in demand for execution services as well as consulting, forensics and deals-related work. In particular, cybersecurity, digital and data and analytics services benefitted from “significant” recent investments, PwC said.

Revenues generated from tax operations jumped by 7 per cent to $9.1 billion. The firm noted strong demand for compliance, corporate consulting and business structuring work globally.

"We are investing heavily in technology to enhance the quality and impact of our services and make the best use of the skills of our people. The world is changing rapidly and we are planning for the services our clients, capital markets and other stakeholders will need tomorrow, as well as serving their needs today. Whether it's the tax and audit services of the future, transformational consulting, blockchain or augmented reality, we are implementing a strategy to meet the long-term needs of our stakeholders and the career aspirations of our people,” said Bob Moritz, chairman of PwC.

"This is an era of unprecedented scrutiny and the public expects more from business today. We are focused on how we can best serve not just the needs of our core stakeholders but society at large. This is reflected in our purpose, the culture we're building right across our network and in the stories we tell in our annual review."