PwC has retaken number one spot from Deloitte as the world’s largest firm by revenue

PwC has recorded a global annual revenue increase of 10% to $35.4bn (£23.34bn), which represents its strongest growth in 10 years.

Last month Big Four rival Deloitte announced global revenues worth $35.2bn (£22.7bn), growth of 7.6%.

Consulting now accounts for more than 30% of PwC’s total revenues after growing 18% to $11.2bn during the 2015 fiscal year. This was boosted by the acquisition of Strategy& (formerly Booz & Company) in April 2014.

PwC’s auditing division grew 6.2% to $15.2bn in a year. It lost major contracts such as Tesco and Sainsbury but won significant tenders such as Vodafone and Santander. Its tax arm grew 7% to $8.9bn.