20 December 2011
MUSCAT -- KPMG announced that its advisory revenues rose 14.8 per cent in US dollars to $7.54 billion. Revenues grew across all KPMG's geographic regions, with gains in US dollars of 16.6 per cent in Asia Pacific, 10.7 per cent in the Americas, and 7.7 per cent in Europe, the Middle East, Africa, and India.
Much of the growth came from high growth markets, with India growing at 25 per cent and Brazil at 22 per cent in local currency terms. In October, Andrew underscored KPMG's commitment to high growth markets when he became the first head of a Big Four accounting network to be based in Asia.
Overall, KPMG member firm combined revenues totaling $22.7 billion for the fiscal year ending September 30, 2011, a 10.1 per cent increase in US dollars, or 6.2 per cent in local currency terms.
The strong performance spanned all geographic regions and resulted from a strategic commitment across KPMG member firms to invest in priority high growth markets; and to expand their capabilities in high-demand service offerings including Management Consulting and Tax services.
"To achieve double-digit growth in such a tough environment shows that we have the right strategy," said Michael J Andrew, Chairman of KPMG International. "We achieved this by focusing on fundamentals and organic growth and making common investments in our strategic priorities."
KPMG records strong growth across all functions. Audit revenues rebounded to grow 5.8 per cent in US dollars, to $10.48 billion against strong competition in the marketplace and a difficult business environment. Tax revenues grew 13 per cent in US dollars, to $4.69 billion.
During FY 2011, KPMG invested over $100 million in its eAudIT tool, a leading edge electronic global audit platform, which was rolled out to member firms this year. The eAudIT tool ensures that engagement teams across the KPMG network of firms have the best accounting, auditing, and industry knowledge available to perform the most efficient, highest quality audits for businesses of every size.
In September 2011, the global talent consultant Universum announced that for the second consecutive year, students worldwide ranked KPMG No. 2 in the World's most attractive employers, second only to Google. The recognition validated KPMG's strategic direction and the investments that have been made to recruit and train its people.
KPMG member firms expect to hire approximately 75,000 campus graduates worldwide over the next three years, a 25 per cent increase over historical targets. The hiring will play an important role in meeting KPMG's long-term global growth strategy.
KPMG also received recognition for its diversity initiatives. Notably, Working Mother magazine honoured KPMG in the United States with its most prestigious recognition, naming the firm as a Top 10 organisation on its 100 Best Companies list. KPMG in the UK was listed as one of the Top 50 Employers for Women by The Times. KPMG in Canada was named one of Canada's Best Diversity Employers for 2011.
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. It operates in 152 countries and has 145,000 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.
MUSCAT -- KPMG announced that its advisory revenues rose 14.8 per cent in US dollars to $7.54 billion. Revenues grew across all KPMG's geographic regions, with gains in US dollars of 16.6 per cent in Asia Pacific, 10.7 per cent in the Americas, and 7.7 per cent in Europe, the Middle East, Africa, and India.
Much of the growth came from high growth markets, with India growing at 25 per cent and Brazil at 22 per cent in local currency terms. In October, Andrew underscored KPMG's commitment to high growth markets when he became the first head of a Big Four accounting network to be based in Asia.
Overall, KPMG member firm combined revenues totaling $22.7 billion for the fiscal year ending September 30, 2011, a 10.1 per cent increase in US dollars, or 6.2 per cent in local currency terms.
The strong performance spanned all geographic regions and resulted from a strategic commitment across KPMG member firms to invest in priority high growth markets; and to expand their capabilities in high-demand service offerings including Management Consulting and Tax services.
"To achieve double-digit growth in such a tough environment shows that we have the right strategy," said Michael J Andrew, Chairman of KPMG International. "We achieved this by focusing on fundamentals and organic growth and making common investments in our strategic priorities."
KPMG records strong growth across all functions. Audit revenues rebounded to grow 5.8 per cent in US dollars, to $10.48 billion against strong competition in the marketplace and a difficult business environment. Tax revenues grew 13 per cent in US dollars, to $4.69 billion.
During FY 2011, KPMG invested over $100 million in its eAudIT tool, a leading edge electronic global audit platform, which was rolled out to member firms this year. The eAudIT tool ensures that engagement teams across the KPMG network of firms have the best accounting, auditing, and industry knowledge available to perform the most efficient, highest quality audits for businesses of every size.
In September 2011, the global talent consultant Universum announced that for the second consecutive year, students worldwide ranked KPMG No. 2 in the World's most attractive employers, second only to Google. The recognition validated KPMG's strategic direction and the investments that have been made to recruit and train its people.
KPMG member firms expect to hire approximately 75,000 campus graduates worldwide over the next three years, a 25 per cent increase over historical targets. The hiring will play an important role in meeting KPMG's long-term global growth strategy.
KPMG also received recognition for its diversity initiatives. Notably, Working Mother magazine honoured KPMG in the United States with its most prestigious recognition, naming the firm as a Top 10 organisation on its 100 Best Companies list. KPMG in the UK was listed as one of the Top 50 Employers for Women by The Times. KPMG in Canada was named one of Canada's Best Diversity Employers for 2011.
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. It operates in 152 countries and has 145,000 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.
© Oman Daily Observer 2011
