KPMG Revenues Grow Strongly to Record $26.4 Billion

London (ots/PRNewswire) -

Growth driven by client-focused investments in technology,
innovative services, alliances and hiring

- Record high revenues for Fiscal Year (FY) 2017 of US$26.40 billion
- Revenue growth for FY2017 of 5% (in local currencies) driven by
strong growth across Audit, Tax and Advisory services
- Growth in all three regions (Americas, ASPAC and EMA)
- KPMG invested more than US$1 billion this year in a multi-year
program focused on new technology, innovation and developing new
services and solutions
- More than 37,000 new graduates and other entry-level professionals
hired, with the total workforce growing to a record-high of 197,263
people.
- KPMG network achieves gender parity for new hires, and an increase
to 28% women in partner promotions across our 10 largest countries.

KPMG International today announced record aggregated network
revenues of US$26.40 billion for the fiscal year ending 30 September
2017 (FY17), representing a 5% increase in local currency terms on
FY16.

"The KPMG network grew strongly while continuing to transform to
meet the rapidly changing demands of clients. We are making
significant, strategic investments across Audit, Tax and Advisory in
technology and innovative services where clients are facing their
greatest challenges and disruption. As an example, KPMG firms have
built leading positions in cyber security, data & analytics (D&A) and
digital transformation services, bringing together leading edge
technology with world-class business expertise to offer a higher
level of capabilities to clients in these critical areas," said Bill
Thomas, Chairman, KPMG International.

"We remain committed to meeting our public interest responsibility
and continuously improving the quality of the vital work performed
for clients and capital markets. The Value of Audit and Responsible
Tax forums held by KPMG around the world are powerful examples of
KPMG bringing together key stakeholders to discuss our profession's
most complex challenges and opportunities."

KPMG firms grew across all three geographic regions:

- Americas revenues increased by 4.4%, with Tax growing by 6.7%.
- Asia Pacific delivered strong growth with revenues increasing by
8.1%, with Advisory growing by 15.0%.
- Europe, Middle East and Africa (EMA, including India) revenues
increased by 4.0%.

Investing for future growth

"KPMG is continuing with a multi-year global investment program
and this year invested more than US$1 billion in new services,
technology, alliances and acquisitions, focused particularly on D&A,
strategy, cyber security, digital labor and audit. This represents
our most exciting, data-driven investment in the network and is
transforming our technology capability and our operating model," said
Bill Thomas. "Like KPMG's clients around the world, we're focused on
harnessing the power of digital transformation to improve efficiency,
innovation and quality."

Growth in business lines - Audit, Tax and Advisory

Audit

Total Audit revenues for the year were up by 3.1% to US$10.39
billion, building on last year's exceptional growth of 4.5%.

KPMG firms continued to win a number of significant audit
appointments, particularly in Europe, where the impact of the second
full year of EU audit reforms continues to drive increased movement
of audit engagements.

"We remain dedicated to continuously improving audit quality by
making quality the focus of everything we do. We are doing this
through innovation, investing in our smart audit platform - KPMG
Clara - our methodology and most importantly our people. KPMG
continues to invest in new audit technology and innovation through a
several hundred million dollar, multi-year, investment program. KPMG
Clara now offers an automated, agile, intelligent and scalable
platform for KPMG Audit professionals, bringing powerful D&A and
technology capabilities together in one interface and allowing
clients real-time information arising from the audit process and
communication with the audit team. Through our alliance with
Microsoft we are working to move aspects of KPMG Clara onto
Microsoft's Azure cloud platform in certain markets, which will
further enhance audit quality as well as improving efficiency," said
Bill O'Mara, KPMG International's Global Head of Audit.

Tax

Tax revenues grew 5.9% over the previous year, to US$5.83 billion,
driven by high demand for tax compliance services, as well as
international and M&A related services, in all three regions.

"Once a highly-technical specialist capability, tax has risen on
the corporate agenda. Meanwhile, the role of the tax function itself
is evolving, particularly due to advancements in technology and data
and analytics, highlighting new opportunities for tax departments to
provide value to their organizations and beyond. Increasingly complex
national and international requirements in key areas such as indirect
tax, immigration, and supply chains have fueled demand for
technology-enabled tax services and this is something KPMG is
equipped to provide," said Jane McCormick, KPMG International's
Global Head of Tax.

Advisory

Advisory revenues grew by 6.0% to US$10.18 billion, reflecting
increased demand for expertise and deep industry knowledge to help
clients better manage their risks, as well as plan and execute their
strategy to drive growth. Investments in solutions drove strong
double-digit revenue growth in Strategy services and emerging
technologies such as Cyber. Particularly strong growth was seen in
Asia Pacific, where Advisory revenues increased by 15%, with
double-digit growth across the largest firms, including a 29%
increase in China.

"The intersection between business consulting and technology is
now very strong. Projects often start with a conversation with a
client about a business challenge they are facing, then evolve to
where new solutions with embedded technology can be developed drawing
on our industry expertise, technology capability and alliances. We've
focused on becoming more agile, and the speed at which we develop
solutions and get them to market has increased dramatically over the
past 2 years," said Mark A Goodburn, KPMG International's Global Head
of Advisory.

A workforce of extraordinary talent

In FY17, the KPMG network remained a leading choice for talent,
with the global workforce growing by more than 4% to 197,263 people,
the highest number of individuals ever employed across the network.
More than 37,000 new graduates and other entry-level professionals
joined KPMG, and in our 10 largest countries we promoted more than
450 people to partner in our most recent partner class, and in FY17
we admitted more than 250 experienced hire partners across our
network.

Within our leadership ranks, gender diversity continues to rise
across the network. In the 10 largest countries, 28% of KPMG's latest
class of partner promotions were women, and women now make up 47% of
the KPMG network's workforce.

KPMG is investing significant time and resource to equip its
people with digital transformation skills. As an example, KPMG in the
US broke ground on a US$400 million learning, development and
innovation facility in Orlando, Florida, US in mid-2017. KPMG is also
working with leading universities to help educate and provide
opportunities to the next generation of accounting professionals,
developing the KPMG Master of Accounting with Data and Analytics
Program to prepare professionals for the rapid advance of
technologies that are changing the landscape of the accounting
profession.

"KPMG's inclusive culture helps ensure that teams reflect the
diversity of skills, backgrounds, experiences and thought expected by
clients. We encourage our people to see the world through many
different perspectives. We empower our people to be themselves and
respect others - it's core to our values and what we believe in,"
said Susan Ferrier, KPMG International's Global Head of People,
Performance and Culture.

KPMG member firms around the world are putting those beliefs into
practice through their support for and involvement across a broad
spectrum of diversity organizations and communities including Women
Corporate Directors, the largest global network of women Board
members, and KPMG's global citizenship priority of lifelong learning.

KPMG has been recognized as a leader in the drive toward inclusion
in the workplace, including:

- 2017 DiversityInc Top 50 Companies for Diversity (US)
- 2017 Best-of-the-Best Corporation for Inclusion by the National Gay
& Lesbian Chamber of Commerce (NGLCC) and the National Business
Inclusion Consortium (NBIC) (US)
- Business in the Community (BITC) announced KPMG in the UK in the
Best Employer for Race list, and awarded the firm the Workplace
Equality Award for Recruitment (UK)
- Winner of the 2017 Queen's Award for Enterprise in the inaugural
category of 'Promoting Opportunity' for its work on social mobility
(UK)
- The Times Top 50 Employers for Women for the 7th consecutive year
(UK)
- Silver Tier award for 2017 and a Bronze Tier award for the 2016
Australian Workplace Equality Index recognizing workplace support
for LGBTI people (Australia)
- KPMG was recognized as one of Canada's Best Diversity Employers for
2017 (Canada)
- 2016/17 Life At Work Awards Honouree, to recognize and celebrate
employers with leading workplace strategies that champion I&D
(Malaysia).

Our priority of citizenship

KPMG has a corporate citizenship strategy that is central to our
identity that supports and reinforces our values and our purpose.
KPMG member firms encourage partners and staff to engage with their
local communities to inspire confidence and empower change. Over the
past 12 months the KPMG network and KPMG people have invested more
than US$105 million in local communities, and KPMG people have
contributed 500,000 hours supporting communities, which includes more
than 100,000 hours of pro-bono professional services.

KPMG firms across the world continued their commitment to lifelong
learning. To date, KPMG has distributed more than 3 million books
worldwide through KPMG's Family for Literacy (KFFL), and is a proud
supporter of Junior Achievement, Enactus, One Young World and WE
Charity, among others.

Other FY17 highlights

- KPMG member firms serve 84% of Global Fortune 500 companies.
- KPMG's alliances with market leaders like IBM, Microsoft and Oracle
further extended the breadth of technology-based offerings for
clients around the world.
- The Forrester Wave(TM): Information Security Consulting Services,
Q3 2017 has ranked the KPMG network as a leader in Information
Security Consulting Services.

Notes to editors:

Combined revenues of KPMG member firms by region (US$ billion)

Local growth US$ growth
Regions Current Prior (%) (%)
Americas 10.48 10.02 4.4% 4.6%
Asia Pacific 4.42 4.06 8.1% 8.9%
EMA 11.50 11.34 4.0% 1.4%
Total 26.40 25.42 4.8% 3.9%

Local growth US$ growth
Functions Current Prior (%) (%)
Audit 10.39 10.12 3.1% 2.7%
Tax 5.83 5.56 5.9% 4.9%
Advisory 10.18 9.74 6.0% 4.5%
Total 26.40 25.42 4.8% 3.9%

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

KPMG International Annual Review (https://home.kpmg.com/xx/en/home
/campaigns/2017/12/international-annual-review.html?cid=psrs_nwr_news
wire-sx_xx_link-01-acx_2017-com-iar-2017&utm_medium=psrs&utm_source=n
wr_newswire&utm_content=xx_link-01-acx&utm_campaign=2017-com-iar-2017
#introduction)

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 (https://home.kpmg.com/xx/e
n/home/campaigns/2017/12/2017-transparency-report.html?cid=psrs_nwr_n
ewswire-sx_xx_link-01-acx_2017-com-tran-2017&utm_medium=psrs&utm_sour
ce=nwr_newswire&utm_content=xx_link-01-acx&utm_campaign=2017-com-tran
-2017)

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

About KPMG International

KPMG is a global network of professional services firms providing
Audit, Tax and Advisory services. We operate in 154 countries and
have 197,263 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.

Headcount figures are expressed as FTE (full-time equivalent) and
are based on average headcount for the financial year.

Brian Bannister, Head of Global Communications, KPMG
International, +44 7919 393753, brian.bannister@kpmg.co.uk

ots Originaltext: KPMG International LLP
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Original-Content von: KPMG International LLP, übermittelt durch news aktuell