Mike Rake, the global chairman of KPMG and the firm’s UK senior partner, took
home £3m last year in remuneration from the UK and global firms.
Rake’s UK salary, detailed in the firm’s annual report, constituted a 30 per
cent increase, rising from £1.8m to £2.4m.
The huge rise capped a bumper year for the firm, which has seen revenues rise
by 20% and profits by 21%.
Rake told Accountancy Age that KPMG was ‘gaining market share’ and
that a strategy of leveraging the firm’s traditionally large audit base into
other areas was paying off.
KPMG even bucked the trend on tax, with growth figures of 15% for the tax
function. Others have seen tax revenues stall in the wake of the anti-avoidance
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars