2020. A year like no other. Not only because of the uncertainty and economic risks, but because we had to change our way of working almost overnight. The coronavirus crisis showed that our ongoing investment in technology, skills and important expert networks has paid off.
Our people adapted quickly, transitioning smoothly to working from home. We made use of our digital tools and communication channels to keep in touch with each other despite being physically apart.
We are proud to have helped our clients through this most turbulent of times. And proud that we have closed this year in a healthy financial position with a stable income development. However, the fact that our clients were forced to completely rearrange their projects in response to the crisis did not go unnoticed. Net revenue generated by KPMG Switzerland fell slightly short of the previous year at CHF 443.0 million (-2.7%). Of that, CHF 218.0 million (-3.1%) was generated by Audit, CHF 120.8 million (-2.7%) by Tax & Legal and CHF 104.2 million (-1.9%) by Advisory.
A big thank you to our clients, people and business partners for this extraordinary business year. Let us continue to think and act boldly – together for better.
Stefan Pfister, CEO of KPMG Switzerland, reflects on a challenging past year and discusses the key drivers behind KPMG’s solid annual results.
KPMG Switzerland generated solid annual results, despite the challenging environment; all areas proved to be extremely robust. Thanks to our agile IT infrastructure and adaptable workforce, we were able to provide our clients with the full range of services and high quality they have come to expect, even during the coronavirus crisis and especially during the lockdown phase.
Technological innovations in the areas of audit and data analytics have strengthened the reliability of our audit results while also redefining how we collaborate with clients, something that has proven a boon during the pandemic.
Companies’ transformation requirements, which are a direct result of digitalization, as well as the current crisis have given rise to new tax and legal questions that we have resolved together with our clients.
Advisory owes its solid results to digitalization, something that has emerged as a common thread connecting our clients’ many business areas.
Pressure on current business models, the increasing regulatory burden and sustainable investment strategies are the main issues that we have addressed together with our financial sector clients over the course of the past financial year.
Swiss SMEs have been facing a plethora of challenges when dealing with the economic and regulatory consequences of the coronavirus pandemic. We have actively supported our clients during these turbulent times.
Companies as well as their auditors are expected to satisfy a variety of different stakeholders and contribute to the wellbeing of society. That is why KPMG has positioned integrity at the heart of its value system. To us, acting with integrity means doing the right thing.
Learn more about the most important facts and drivers of the past financial year
(1 October 2019 – 30 September 2020):
We strive to make a positive contribution and take responsibility. Whether dealing with business challenges, technological change, the lifelong learning initiative or the promotion of sport and health, KPMG pursues a common goal: to make a difference today and create a foundation for tomorrow's world. We are committed to ensuring a stable environment for the next generation.
What does the "new normal" look like in terms of people, environment, markets and client expectations? In an interview, Stefan Pfister and Olivier Bernhard (from the running shoe manufacturer On) explore these questions and their key takeaways from the crisis.
Our maxim "dare to do" is about empowering our people to adopt a courageous and innovative mindset and to realize their full potential. In the year under review, KPMG once again made significant investments in development and learning as well as in gender equality.
We strive to make a positive contribution to our clients, communities and the environment. To live up to the trust our stakeholders place in us, we engage in open and transparent communication, use resources sustainably and get involved in a wide range of causes.
People make the difference – as the basis for sustainable client relationships. Our people at 11 locations in Switzerland and Liechtenstein have responded to the changing needs of our clients with great commitment, agility and innovative thinking in this challenging year.
Number of employees
Number of part-time employees
Number of Partners
Hours of professional training
Pro bono hours
Our Board of Directors and Executive Committee have many years of management experience, a track record in innovation and a high degree of integrity. These qualities are essential in meeting our responsibility towards our clients, people and the public. It is also how we create the best possible conditions for managing our company successfully and cultivating long-term relationships based on trust.
This report sets out our ongoing efforts to safeguard the highest standards of quality and integrity.
The Code of Conduct defines the values and standards we abide by every day.
The independent foundation supports innovative projects in the areas of education, integration and social support.
Close to our clients thanks to a strong local presence at 11 locations in Switzerland and Liechtenstein.