KPMG Global Revenues Grow to Record US $29 Billion

By STS News Desk On Dec 13, 2018

KPMG Global Revenues Grow to Record US $29 Billion

Growth driven by investments in quality, technology, innovative services, alliances, and record number of new recruits

KPMG International announced record aggregated network revenues of US$29 billion for the fiscal year ending 30 September 2018 (FY18), representing a 7.1% increase in local currency terms on FY17.

Record high revenues for FY18 of US$28.96 billion, up from $26.40 billion in FY17
Revenue growth for FY18 of 7.1% (in local currencies), up from 4.8% in FY17
Advisory growing at 9.9%, the fastest growing of KPMG’s three functions. Audit and Tax services also increasing their growth compared to FY17
Consistently strong growth across each of KPMG’s five industry sectors
Accelerated investment in a multi-year program focused on driving quality, innovation, new technology, developing new client services and solutions, strengthening alliances with many of the world’s leading technology companies
More than 55,000 new hires, including 39,000 new graduates and other entry level professionals, with almost 10,000 new jobs created, taking the global workforce to a record-high of 207,000 people
KPMG network continues to focus on building an inclusive and diverse culture, increasing female diversity among our leadership ranks to 24% of Partners and Directors, while broadly maintaining gender parity across our total workforce
KPMG people continue to make contributing to their communities a priority, with more than 500,000 hours of volunteering in the past twelve months, including approximately 100,000 hours of pro-bono professional services

“We are making record investments in our business to help clients capitalize on the unprecedented transformation they are going through,” said Bill Thomas, Chairman, KPMG International.

“We are committed to continuously improving the quality of every service we provide, recognizing the vital role we perform for clients and capital markets.”

KPMG firms grew across all three geographic regions:

Americas revenues grew 6.2% in FY18, up from 4.4% in FY17
Asia Pacific delivered strong growth with revenues increasing 8.7% in FY18, an increase on the 8.1% recorded in FY17
Europe, Middle East and Africa (EMA, including India) revenues increased 7.3% in FY18, up from 4.0% in FY17

Investing for future growth

“KPMG is continuing with a multi-year global investment program, investing more than US$4 billion in innovative new services, technology, and acquisitions over the next four years. This investment program is focused on transformative technologies, such as artificial intelligence and intelligent automation, cyber security, and our intelligent audit and tax platforms.” said Bill Thomas. “Just as we are working with our clients around the world to transform their businesses, we’re also harnessing the power of digital transformation to drive our growth and raise the level of efficiency, innovation and quality.”