KPMG reports bumper 20% growth

KPMG reports bumper 20% growth

KPMG confirms its position as fastest-growing Big Four firm with 20% revenue growth

KPMG has outdone its rivals to record 20% fee income growth and become the
fastest-growing Big Four accounting firm in the UK.

Revenues climbed from £1.07bn in 2004 to £1.28bn, as KPMG closed the gap on
the UK’s second biggest firm Deloitte, which saw revenues grow by 8.8% to
£1.35bn this year.

PwC still tops the league of the large firms with fee income of £1.78bn, and
Ernst & Young, which reported growth of 15%, remains fourth with turnover of
£945m.

KPMG reported double digit growth across audit, tax and advisory services.
Audit revenues were up 16% at £356.7m and advisory soared 24% to £606.7m, as
KPMG cashed in on the IFRS and Sarbanes-Oxley bonanza. The firm’s tax department
also performed well, growing 15% to £316.5m.

‘We want to create a place where the best people want to work,’ said KPMG
senior partner and global chairman Mike Rake. ‘If we continue investing in
people we will continue to grow and generate profit.’

The firm recruited 12 outside partners and promoted 29 partners internally
during the year, and treated 8,950 staff to a combined £59m bonus.

‘We have had a very successful year and are delighted to reward our people
with record levels of bonus payments,’ said KPMG CEO John Griffith-Jones. ‘We
have also promoted 1,200 people across the firm in recognition of their
significant contribution and achievements.’

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource