KPMG International revenues rise

by Rachael Singh

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13 Dec 2012

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KPMG INTERNATIONAL has seen its revenues grow to $23bn (£14.25bn) for the year ending 30 September 2012.

The latest figures are a 4.4% increase on the previous year, in local currency terms.

Growth was strongest for the first half of the year with a 6.4% increase on 2011. The international firm showed particular growth in financial services, government and healthcare.

Advisory revenues grew 8.3% to $7.86bn; tax revenues increased 6.3% to $4.86bn; and audit revenues grew 0.9% to $10.31bn.

Michael Andrew, chairman of KPMG International, said: "The growth in Advisory and Tax underlines the strength of client demand for professional services.

"On the audit side, the market has never been more competitive and we are focused on continuing to improve audit quality, as evidenced by our significant investments in our global audit platform that surpassed $50 million, in addition to the $100 million invested over the past several years. KPMG member firms are also actively engaged with their regulators around the world in constructive dialogue, with the goal of continuing to improve audit quality."

America showed the strong growth with revenues rising 7%. Europe, the Middle East and Africa reported increases of 4%, and Asia Pacific showed a 1.1% rise.

The firm also increased its global workforce by more than 5% to 152,000 partners and staff. However, the UK arm announced a 2.5% reduction in staff earlier this year. More than 450 partners were appointed during the year, bringing the number of partners in the network to more than 8,600.

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