2021 was a year once again marked by change. But as the world around us changes, our clients continued to place trust in our expertise and services, as they have done for over a century in Switzerland.
We recorded another solid result for 2021 of CHF 439.2 million total net sales. Our audit business recorded net sales of CHF 197.8 million, down 9.3% from prior year due to the one-off effects of audit rotation. However, we were able to compensate by securing new growth opportunities recording CHF 121.6 million (+ 0.7%) in Tax & Legal services and by winning significant market share in advisory services with CHF 119.8 million net sales (+ 14.9%).
I would like to thank our clients, business partners and people for their ongoing trust in our firm. Together. For better.
Stefan Pfister, CEO KPMG Switzerland
KPMG Switzerland generated another solid annual result, despite the challenging environment. Thanks to our strategic alliances with technology partners we were able to offer our clients extensive support in their digital transformation processes. Furthermore, our advisory expertise was particularly in demand in the M&A market, in cyber risk defense, sustainability reporting as well as in legal and tax matters across all industries.
As we enter a phase of regrowth and cautious optimism we will continue to build on our strengths: our people, our client-centricity and multidisciplinarity. With our broad sector expertise, we are in an excellent position to accompany industries who thrived during the crisis – or on the contrary – those who need our help to restructure, to reconstruct and adapt.
Audit business: increasingly digital and sustainable
We used state-of-the-art audit technologies to set new standards in terms of automation and interaction. The new engagements we acquired bear testimony to the level of trust placed in the quality of our services and our expertise.
Tax and regulatory issues are here to stay
International developments and the growing complexity of issues related to the legal and fiscal aspects of new working models triggered higher demand for advisory services among our clients.
Substantial increase in demand for advisory services
The positive investment environment and heightened trust in the quality of even virtual work on projects has had a favorable impact on KPMG's advisory business.
ESG and digitalization dominate the agenda
Demand for our expertise was particularly high among our clients in the financial sector who needed our support on projects in the area of digital transformation, regulatory issues, mergers and acquisitions, as well as ESG and sustainable finance.
SMEs as a fundamental mainstay of KPMG
Swiss SMEs have focused on immediate action, strategic decision-making and solutions to new challenges such as working from home. Our close proximity to small- and medium-sized enterprises enabled us to provide them with comprehensive support.
Establishing trust through integrity and quality
We align our actions with our most important value – integrity – and provide services based on the very highest quality standards. That is how we create trust, which is at the heart of our brand.
Find out more about the latest key figures, the most important factors of the past fiscal year
(1 October 2020 – 30 September 2021) and the importance of trust in our Clarity on KPMG Switzerland:
Trust comes naturally when you have a strong team behind you. I am excited about our future, to lead a firm that upholds our legacy as well as our commitment to our clients, our people and society.
CEO KPMG Switzerland
What we value
Trust lays the foundation of a resilient culture capable of handling challenges with integrity. Regardless of whether we are dealing with transformation and disruption, technological advances or the development and promotion of our employees. Our values determine our conduct, guide our decisions and shape us. Together, we pursue one shared goal: to create a better future for our clients, people and society.
Foundation of our success
Our employees are our most valuable asset. They make us unique. We are responsible for promoting their development and skills in a targeted manner. The year under review saw KPMG continue to make substantial investments in the areas of training and development, health and wellbeing as well as equality.
Living up to trust
We aspire to live up to the trust placed in us by our stakeholders and to build a sustainable future. Our framework helps us balance our responsibilities toward clients, employees, society and the environment with our position as a for-profit organization.
Doing the right thing
We do what needs to be done. In a world full of uncertainty, disruption and inequality, our employees lay the cornerstone for relationships of trust with our clients and long-term success. Day after day – at eleven locations in Switzerland and Liechtenstein.
Hours of further education
Pro bono hours
Trust and stability
Our Board of Directors and our Executive Committee both have many years of management experience, proven innovative strength and a high degree of integrity. This qualities are essential in meeting our responsibility towards our clients, employees and the public. It also enables us to strike a balance between economic success and both social and environmental expectations while establishing trust and stability.
Board of Directors
This report report sets out our ongoing efforts to safeguard the highest standards of quality and integrity.
Code of Conduct
The Code of Conduct defines our obligations to one another, toward our clients and toward the general public.
The Foundation operates independently and supports projects in the areas of education, integration and welfare.
Our strong presence at eleven locations in Switzerland and Liechtenstein means we are always close to our clients.