Weak member firms pull down Deloitte revenue

NEW YORK: Global accounting firm Deloitte Touche Tohmatsu said yesterday revenue at its member firms slipped 4.9 percent in fiscal 2009 to $26.1 billion, hurt by a decline in deal activity in the worldwide economic downturn.

Deloitte, one of the "Big Four" accounting firms, said revenues were essentially unchanged in its audit and tax businesses, and financial advisory services revenues dropped 6.1 percent, hurt largely by the drop in global merger and acquisition activity.

That was partially offset by a 7.3 percent increase in growth at its consulting business, Deloitte said.