KPMG global revenues up by 14pc to $35 billion

KPMG International has reported strong annual aggregated revenues for KPMG firms globally of $35 billion for the fiscal year ending September 30, 2022 (FY22) – an increase of 14 per cent.

Amidst continued economic and geopolitical uncertainty, robust numbers and consistent growth were achieved across all functions. Advisory achieved the largest growth increase – up 19pc on FY21 across KPMG firms globally.

Growth was driven by the success of transaction and deal advisory services, as well as continued demand for innovative technologies and advanced cyber security solutions.

This is also a significant indicator of the appetite within the marketplace in relation to strategic M&As, and the ongoing investment in technology-based solutions by companies within the global marketplace.

Tax and legal services experienced a 10pc growth while audit grew by approximately 8pc, benefiting from a combination of the investments made in technology and our KPMG firms’ globally connected local knowledge.

Commenting, Jamal Fakhro, managing partner of KPMG in Bahrain, said: “KPMG firms’ financial performance is a testament of our ongoing commitment to providing innovative solutions to our critical business challenges and risks within the marketplace.

Within the local marketplace, we are also witnessing cautious optimism amongst business leaders, who are more strategic in terms of their investments, but are also building their awareness and understanding of the risk radar that might impact the industry they are operating within.

As a firm, we continue to invest in building our capabilities across key service and solution areas that will serve our clients and the kingdom well.”

Source: https://www.gdnonline.com/Details/1171432/KPMG-global-revenues-up-by-14pc-to-$35-billion