KPMG delivers strong growth and record revenues for fiscal year 2014

13:08 | 12/12/2014
KPMG International today announced record-high aggregated network revenues of $24.82 billion for the fiscal year ending September 30, 2014, representing a 6.3 per cent increase in local currency terms over the previous year.

“The companies we serve are operating in an increasingly complex, global and rapidly changing environment, which demands that we provide a broad range of services and solutions, seamlessly and consistently across the world,” said John B Veihmeyer, chairman, KPMG International.

“The quality and breadth of professional services we offer, combined with significant investments we’ve made to strengthen and broaden our services and capabilities, has enabled us to achieve strong and sustainable growth in 2014. At the same time, we have recruited 18,000 graduates and grown our headcount to 162,000 professionals,” he added.

The Americas delivered strong growth over the prior year, with revenues rising by 10.1 per cent, driven by a 15.1 per cent growth in Advisory revenues, 8 per cent increase in Tax and an 8.7 per cent increase in Audit revenues.

Europe Middle East and Africa (including India) revenues grew by 4.7 per cent, with strong growth in Ireland, Spain, Switzerland and the UK, as many of the region's leading economies returned to growth.

The Asia Pacific region, including Vietnam and Cambodia, realised revenue growth of 3.8 per cent, a positive performance in the context of the challenging economic conditions for many of the region’s leading economies.

KPMG has a longstanding commitment to supporting clients in the world's fastest growing economies and this focus drove 17.8 per cent annual growth in revenues in India, 11.1 per cent in the Middle East, 10.5 per cent in Africa, 8 per cent in ASEAN and 7.3 per cent in China.

KPMG continues to maintain its long-standing focus on recruiting top talent in fiscal year 2014, recruiting a record high of 54,000 graduates and experienced hires, including 350 new partners who joined from outside.

KPMG's global workforce grew by almost 7,000 to over 162,000 partners and staff, the highest number of individuals ever employed across the network.

John Veihmeyer added, “KPMG remains a leading choice for graduate talent, and we were proud to be voted in the Top 5 most attractive global employers in the annual Universum ‘World’s Most Attractive Employers to Work For’ poll of around 200,000 degree students.”

This year also saw KPMG in Vietnam and Cambodia celebrate their 20th anniversary of business operations. Over the past two decades, the firm has seen its client base and headcount grow exponentially, which currently stands at over 1,000 staff in their offices in Ho Chi Minh City, Hanoi and Phnom Penh.

Warrick Cleine, chairman and CEO, KPMG in Vietnam and Cambodia stated, “The combined fiscal year 2014 global revenue numbers as well as the strong growth contributions in ASPAC and right here in Vietnam and Cambodia, reflect positive and improving business performance across the KPMG network of firms.”

This positive momentum is reinforced by our priority to ensure KPMG remains a magnet for talent. Caliber of talent is a true differentiator amongst professional services firms, and at KPMG, we will continue to invest in our people,” Cleine noted.

KPMG is a global network of professional firms providing audit, tax and advisory services. It operates in 155 countries, having more than 162,000 people working in member firms around the world.

By By Mai Thuy

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