Click here to close now.


News Feed Item

KPMG 2012 Revenues Reach US$23 Billion

- Growth seen across all service lines  and industries

- Bolstered by strategic investments in key service areas, emerging markets and talent recruitment

HONG KONG, Dec. 13, 2012 /PRNewswire/ -- KPMG International (KPMG) today announced record-high combined revenues of US$23.03 billion for the fiscal year ending 30 September 2012, representing a 4.4% increase over the previous year in local currency terms.  When adjusted to US dollars revenues increased by 1.4%, reflecting the relative strength of the US dollar.  At a time of ongoing global economic challenges, the growth reflects our continued strategic focus on investments in emerging markets and key service areas, as well as aggressive recruitment of top talent.  In the latest Universum rankings, business students from leading universities around the world voted KPMG as one of the most attractive employers for the third consecutive year, ranking second overall and highest among the Big 4 firms.

Michael J. Andrew, Chairman of KPMG International, commented:

"2012 was a year of two distinct halves; with growth strongest at 6.4% in the first six months of the year and relatively weaker growth of 2.1% in the six months to September.  Growing our business against such a challenging economic backdrop is testament to the quality of our people and the strength of their relationships with clients."

KPMG recorded increased revenues across all functions with particularly strong growth generated in Financial Services, Industrial Markets and Infrastructure, Government and Healthcare.  Advisory revenues grew by 8.3%, to $7.86 billion; Tax revenues grew by 6.3%, to $4.86 billion; and Audit revenues grew by 0.9%, to $10.31 billion.    

"The growth in Advisory and Tax underlines the strength of client demand for professional services," said Michael.  "On the Audit side, the market has never been more competitive and we are focused on continuing to improve audit quality, as evidenced by our significant investments in our global audit platform that surpassed $50 million, in addition to the $100 million invested over the past several years. KPMG member firms are also actively engaged with their regulators around the world in constructive dialogue, with the goal of continuing to improve audit quality."

At a regional level, the Americas delivered strong growth for the year, with revenues rising by 7%.  The Europe, Middle East and Africa region reported increased revenues of 4% across the region, despite the ongoing economic uncertainty caused by the Eurozone crisis.  The Asia Pacific region reported revenue growth of 1.1%, reflecting subdued growth in North Asia.

KPMG's commitment to investment in rapidly growing economies was reflected by exceptional annual growth of 20% or more at KPMG firms in Argentina, Brazil, Chile, India and Turkey. Revenue growth was also strong in Africa and Indonesia, rising by more than 10% in each area over the last fiscal year.  The decision to convert our Chinese member firm from a joint venture to a special general partnership was also a bold step and will enable KPMG's Chinese firm to continue to contribute to the development of the Chinese accounting profession.

"I am proud that our Chinese member firm has grown from 30 employees only 20 years ago to 9,000 partners and staff today, with significant potential for future growth," said Michael.  "Opening a new KPMG office in Myanmar last month was a sign of our commitment to helping to rebuild that country's economy, and to playing a leading role in the economic development of the region."  KPMG also established member firms in Iraq and Mongolia during the course of the year and now operates in 156 countries.  The decision to locate KPMG’s chairman in Asia is a further indication of the commitment to the important role of this region in the global economy.

In addition to investing in its global audit platform and emerging markets, KPMG also focused on bolstering advisory and tax services.  Michael noted that KPMG "will continue to make acquisitions that will help build market-leading positions and capabilities in key areas that are important to clients, as we have done in shared services and outsourcing advisory and indirect tax compliance services, as well as in procurement and supply chain management, through our recent acquisition of BrainNet.  We are making these investments to help provide the highest quality, most innovative services to clients." He added, "I'm confident the investments we are making will create growth and career advancement opportunities for our professionals."

Recruiting top talent remained a priority in FY12. Over the course of the year, KPMG increased its global workforce by over 5%, to more than 152,000 partners and staff, the highest number of individuals ever employed across the network. More than 450 new partners were appointed over the year, bringing the number of partners across the network to more than 8,600, another record. KPMG recruited more than 18,000 graduates last year and plans to recruit a further 60,000 graduates over the next three years, marking the highest planned recruitment levels in KPMG's history. With its strong focus on training and advancement, KPMG has become one of the top tier employers in the business community.

Other FY12 highlights:

  • KPMG in China consolidated its leading position in M&A consulting by advising on three of the four largest Chinese business outbound merger and acquisitions during the course of the year.
  • KPMG's Management Consulting practice, part of the Advisory business, achieved growth of 15% for the year and has grown to a business with revenues of $2.2 billion in just seven years.
  • KPMG continued to invest in its global Centers of Excellence for Financial Services, Government & Infrastructure, Healthcare and Management Consulting.  The Centers bring together KPMG experts with specialized skills and expertise to bring solutions to assist clients in navigating the fast-changing and complex business environment.
  • KPMG's firms now serve more than 82% of the Global Fortune 500 list of companies.
  • KPMG reinforced its commitment to sustainability by winning the prestigious International Accounting Bulletin "Sustainable Firm of the Year" award.
  • KPMG has for the first time issued its International Annual Review, Transparency Report and Communication on Progress towards the UN Global Compact goals along with the network's financial results.

About KPMG International

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 156 countries and have more than 152,000 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 on these pages represents combined – not consolidated – information of the separate member firms of KPMG International that performed professional services for clients and is combined here solely for presentation purposes.  KPMG International performs no professional services for clients.

For further information, please contact:

Brian Bannister, Head of Global Communications
[email protected]

Seth Oster, Chief Communications Officer, KPMG U.S.
Tel +1 201 307 8644
[email protected]

Europe, Middle East, Africa, South Asia, (EMA):
Gavin Houlgate, Director of Communications
Tel +44-207-694-3902
[email protected]

Asia Pacific:
Nina Mehra, Head of Media, KPMG China
Tel +852-2140-2824
[email protected]

Notes to editors:

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

KPMG regions



Comparison in local currency

Comparison in US dollars (%)






Asia Pacific





Europe, Middle East, Africa*










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

KPMG services



Comparison in local currency

Comparison in US dollars (%)





















Combined average headcount (FTE) of KPMG member firms




















*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 and outlines the platform for growth that we have developed by: sharpening our focus on high growth markets, enhancing our ability to deliver a consistently high level of client service, enriching our service capabilities in key functional areas, growing our headcount in priority markets and sectors, and 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. The report is available to clients or potential clients, regulators, policy makers and any other stakeholders with an interest in the KPMG network. 

UN Global Compact – 2012 Communication on Progress:
KPMG International has been a signatory to the United Nations Global Compact since 2002.  Participation demonstrates our commitment to advancing the business agenda as an active corporate citizen.  It is an opportunity to explain how the professionalism, experience and values of KPMG member firms can contribute to a wider movement for more responsible, legal and ethical behavior.  All signatories are required to produce a 'Communication on Progress' report which describes the ways in which they are implementing the ten principles of the Compact and supporting broader development objectives.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...