The firm said the promised increase in activity for the sector had failed to materialise but pointed out that the value of deals had held up at $77bn (£42bn), compared to $80bn the previous year.
Stephen Barrett, international chairman of KPMG corporate finance, said: ‘Whilst it is encouraging to see no further depreciation in the value of completed activity, the UK’s sizeable drop in deal numbers is a telling sign that recovery is still a way off.’
De-stabilising events including inflationary oil prices, an increase in the cost of capital following a turn in the US interest rate cycle and large exchange rate moves have all contributed to disappointing deal numbers world-wide, added Barrett.
But KPMG said it expected a 54% upturn in the value of global activity to follow, boosted by a number of blockbuster deals announced earlier in the year that have yet to close.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.