KPMG’s global revenue crosses USD 35bn mark. MESAC region doubles FY21 growth

Bill Thomas, Global Chairman & CEO, KPMG International, said, “FY22 has been a strong year. KPMG firms’ financial performance validates an unwavering commitment to deliver services of the highest quality, through a multi-disciplinary approach that helps us to provide solutions to clients’ most difficult challenges and the stability and resilience to invest, even in hard times.”

“But the true measure of our success is what we’ve been able to accomplish for those that rely on us most. Clients and wider society continue to face complex problems that require KPMG professionals to work across borders and disciplines and to collaborate more closely than ever. Few organizations have the expertise and global reach that KPMG has, and we’re at our best when we work together to inspire confidence and empower change,” he added.

The steady global growth was largely driven by Advisory, which grew the most, i.e. 19% on FY21, owing to the success of Transaction and Deal Advisory services and the continued demand for innovative technologies and advanced cybersecurity solutions. Additionally, the technology investments combined with KPMG firms’ globally connected local knowledge propelled Tax & Legal Services and Audit, causing a growth increase of 10% and 8%, respectively.

Compared to FY21, KPMG member firms in the MESAC (Middle East, South Asia, and Caspian) region also witnessed an increase in aggregate revenue, doubling to 18.3% in local currency terms for FY22.

In a new milestone, the talent pool in the MESAC region exceeded 10,000 people for the first time. Moreover, particularly strong growth was achieved in Advisory where revenue grew by nearly 30% over prior year.

The region expanded its reach by welcoming the Caspian cluster which brought KPMG member firms in six more countries and territories into the MESAC region. Together with these, the MESAC region has now established KPMG member firm presence in 20 countries and territories.

The MESAC region focused on building strategic corridors to strengthen resource mobilization and delivery networks, in addition to making working arrangements with key global and regional alliances, especially in the technology domain.

The global organization also remained committed to buttressing the quality and trust agenda and welcomed new specialists and subject-matter experts at all levels to deliver high-quality and multi-disciplinary services to support in solving modern organizations’ complex problems globally. As a consequence, a total of 29,000 new roles were created, causing a notable rise in headcount to reach 265,645 partners and employees.

KPMG stood true to its gender parity commitments and achieved near-equal representation from men (51.5%) and women (48.5%) on the Global Management Team in the said fiscal year. In KPMG in Kuwait, the female staff grew by 15% as compared to the previous financial year to stand at 40%. The firm comprises employees and partners of 17 different nationalities as it recognizes the importance of IDE (inclusion, diversity and equity) as a driver of fresh schools of thought and will continue to leverage it to maintain and build on a positive workforce that works in tandem toward achieving a common goal.