EY has posted its highest revenue growth in six years, with income at £1.6 billion.

All four of its service lines grew this year, but its tax division was the most successful, with revenue of £431 million (an impressive 16% rise on last year.)

The firm attributed its success to its globalisation strategy and investment in top talent: EY expanded its jobs this year by 10%, despite the recession, opening new offices in Cambridge and Glasgow.

Managing partner Steve Varley suggested that international tax was a large contributing factor in EY’s growth. Increasing banking regulations and fraud investigations have also benefited accountancy firms in recent years – Big Four firms grew by 6.7% this year, with revenues of £7.73 billion.

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