governance and oversight bodies is good practice revenues of US$45 billion for the 12 months to the end of and we are encouraging its adoption by our June – up by 2% on FY20. This was a solid result given member ifrms. the situation. Focusing on quality For the ifrst nine months of FY21 growth remained In an environment where society’s expectations relatively lfat. But as we neared the end of the year are increasing almost by the day, it’s more vital than demand started to pick up, and in the ifnal quarter ever that we maintain an unwavering commitment revenues rose by 18% compared to the same period in to quality right across our businesses. That’s why FY20. While some of this 18% growth is due to a very we are constantly looking for ways both to enhance dififcult last quarter in FY20, it also relfects other factors the quality of our work and also to meet and exceed including an increase in client needs for services such as the expectations of our stakeholders. deals and restructuring, the resilience of our ifrms around the world, and our preparedness to move quickly with We were proud to be the ifrst professional services the right people in the right places when demand started to pick up. With the launch of our strategy The New network to publish its audit quality inspection Equation, which helps us support our clients in building results - and I am happy to say that for the fourth trust and to deliver on the broad business issues they consecutive year our audit quality inspections show are facing, we project that our revenue growth will remain an improvement. While this is clearly satisfying, there is always more we can do and our new robust through FY22. strategy includes US$1bn of new investment speciifcally dedicated to the accelerated deployment In addition to reporting in more detail on our revenues by region and lines of business, we are also reporting this of technology to drive audit quality. In the future, year for the ifrst time some information on net income we believe that a step-change in audit quality will and taxation. Given our legal structure there is no basis to be achieved through a new partnership between consolidate member ifrm ifnancial statements, but we are people and technology. To help bring this about, we committed to improving transparency and to providing are investing heavily in advanced digital skills and increasing amounts of information for our stakeholders. AI-powered tools that are transforming the way our people and tech work together. With this in mind, I encourage you to take a look at the ifnancial report in this global annual review. Financial performance The economic conditions in FY21 remained Continuing progress challenging across the world for much of the year. Overall, I am proud of the progress we have made as a Overall, PwC ifrms across our network had gross global network of ifrms and a 295,000-strong community