Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

KPMG achieves record global revenues for FY13


News provided by

KPMG

12 Dec, 2013, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

-- Growth across Audit, Tax and Advisory functions as well as key industries

-- Over 45,000 new hires and net 3,000 partners and staff added to the network to take total number of people to a record high of 155,000

-- Significant investment in new services such as Data & Analytics and a focus on high-growth markets delivering strong growth

-- Investment commitment across key geographies

-- Sustained US$450 million investment program to continuously improve the KPMG audit

-- Winner of the prestigious International Accounting Bulletin "2013 Sustainable Firm of the Year" award

HONG KONG, Dec. 12, 2013 /PRNewswire/ -- KPMG International (KPMG) today announced record-high aggregated revenues of US$23.42 billion for the fiscal year ended 30 September 2013, representing a 3.7% increase in local currency terms over the previous year.

Michael J. Andrew, Chairman, KPMG International, commented:
"Over the past year we have seen the first widespread signs of economic confidence returning to clients and this has led to improving demand for services around the world, accelerating growth in the second half of the year. Continuing to make significant investments in a difficult economic period while delivering operating efficiencies has ensured we are well-placed to meet this upturn in demand, and will drive stronger growth in the future. We are delighted to report record revenues in target high-growth markets. KPMG has a longstanding commitment to supporting clients in the world's fastest growing economies and this focus drove 16.3% annual growth in revenues in India, 14.3% in Mexico, 13.1% in Africa and 10% in China."

The Americas delivered strong growth over the year, with revenues rising by 6.7% driven by a 16.4% growth in Advisory revenues, 7.4% increase in Tax and a 0.3% increase in Audit revenues. EMA revenues grew by 2.6% with strongest growth in Germany, Ireland and Switzerland as many of the region's leading economies returned to growth. The Asia Pacific region reported revenue growth of 1.1%, reflecting the difficult economic situation affecting some of the largest economies in the region and the slow IPO market, a traditional strength of KPMG.

Strong growth in Audit, Tax and Advisory

Audit
While the global audit market remains challenging, and competition for audit engagements intense, KPMG's global Audit function performed strongly with member firm revenue increasing by 1.2% to $10.21 billion.

"The number of significant audit appointments during the last year includes: Downer EDI, ICBC, Lend Lease, Panasonic, PetroChina, Syngenta, and Unilever. We maintain a vigorous commitment to continuous improvement in audit quality. We have invested over $225 million in audit over the past five years and plan to invest at least as much again in the next five years," said Michael Andrew.

Tax
Tax revenues rose by 4.2% to $4.97 billion driven by an increased demand for tax compliance and tax advisory services in the Americas and EMA. KPMG also led the way in responding to the global debate on tax morality, with the publication of Global Tax Principles, setting out the standards which KPMG tax professionals follow in their work for tax clients.

Advisory
Total Advisory revenues for the year were up by 6.5% to $8.24 billion, buoyed by strengthening demand for KPMG's Management Consulting services, which delivered 14.2% growth on the prior year. Client demand for KPMG's Risk Consulting services also continued to grow strongly, up by 6.8% from FY12.

Data and Analytics services saw a sharp increase in demand. As just one example, KPMG professionals helped one of China's largest insurance firms transform their business, enriching data to better understand and meet their customers' changing needs.

Investing for future growth
KPMG continues to make significant investments targeted at long term, sustainable growth and is almost half way through a five year global investment program totalling around $1 billion focused on our core global audit platform, high-growth markets and developing new services such as Data and Analytics.

A leading choice for talent
KPMG maintained its long-standing focus on recruiting top talent in FY13, recruiting over 45,000 graduates and experienced hires. KPMG's global workforce grew almost 3,000 to more than 155,000 partners and staff, the highest number of individuals ever employed across the network.

With its strong focus on training and career development, KPMG remains a leading choice for graduate talent, and was once again voted in the Top 10 Global Employers in the Universum poll of around 200,000 degree students.

Other FY13 highlights:

  • KPMG's member firms now serve more than 80% of the Global Fortune 500 list of companies.
  • KPMG advised on China's largest foreign merger and acquisition deal of 2013, the US$15billion acquisition of a Canadian oil company by CNOOC, China's largest producer of offshore oil and natural gas.
  • KPMG has again led the sector by simultaneously publishing its International Annual Review, Transparency Report and Communication on Progress towards the UN Global Compact goals along with the network's financial results.
  • KPMG continued to invest in global Centers of Excellence including the Financial Services, Government & Infrastructure, Energy & Natural Resources, and Healthcare sectors, and competencies around Shared Services and Outsourcing, Strategic Procurement, Human Resource Advisory, and Climate Change and Sustainability. These Centers bring together KPMG experts from around the world with specialized skills and market experience to develop practical solutions to help clients deal with the pace and complexity of their global business environment.

About KPMG International

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries and have more than 155,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

The financial information set forth represents combined information of the separate KPMG member firms that perform professional services for clients. The information is combined here solely for presentation purposes. KPMG International performs no services for clients nor, concomitantly, generates any client revenue.

Notes to editors:

Combined revenues of KPMG member firms by region (U.S. $ billion)


KPMG regions

2012

2013

Comparison in
local currency

Comparison in
US dollars (%)

Americas

7.45

7.88

6.7%

5.8%

Asia Pacific

4.07

3.90

1.1%

(4.2%)

Europe, Middle East, Africa*

11.51

11.64

2.6%

1.1%

Total

23.03

23.42

3.7%

1.7%


Combined revenues of KPMG member firms by service line (U.S. $ billion)


KPMG services

2012

2013

Comparison in
local currency

Comparison in
US dollars (%)

Audit

10.31

10.21

1.2%

(1.0%)

Tax

4.86

4.97

4.2%

2.3%

Advisory

7.86

8.24

6.5%

4.8%

Total

23.03

23.42

3.7%

1.7%


Combined average headcount (FTE) of KPMG member firms



2012

2013

Change

Partners

8,624

8,664

0.5%

Professionals

117,190

119,675

2.1%

Administration

26,576

26,841

1.0%

Total

152,390

155,180

1.8%


*Includes India

The following global reports have also been issued by KPMG International today:

KPMG International Annual Review:

The International Annual Review reflects on our record of achievement over the past fiscal year, demonstrating the insights and expertise of KPMG professionals and the unrelenting focus on acting with integrity and quality in everything we do.

KPMG International Transparency Report:

This report provides insights and details on how we continually strive to enhance audit quality, which is a direct reflection of our network's unwavering commitment to audit quality, an integral element of our business and culture.

UN Global Compact – 2013 Communication on Progress:

KPMG International has been a signatory to the United Nations Global Compact since 2002. The 'Communication on Progress' report describes the ways in which we are implementing the ten principles of the Compact and supporting broader development objectives.

Modal title

Also from this source

KPMG expands PREVA coverage in the Middle East

KPMG expands PREVA coverage in the Middle East

After the successful implementation of KPMG PREVA in the United Arab Emirates and Oman, KPMG is expanding the service to Saudi Arabia, Jordan and...

More Releases From This Source

Explore

Accounting News & Issues

Accounting News & Issues

Corporate Expansion

Corporate Expansion

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.