23 Dec KPMG’s regional revenues grow by 18.3% for FY22, more than doubling FY21 growth rate
KPMG International announced annual aggregated revenues for KPMG firms globally of $35 billion for the fiscal year ending 30 September 2022 (FY22) – an increase of 14% in US dollar revenues from FY21. During continued economic and geopolitical uncertainty, robust numbers and consistent growth were achieved across all functions.
Aggregate revenues of KPMG member firms in the Middle East, South Asia, and Caspian (MESAC) region grew by 18.3% in local currency terms for FY22, more than doubling the growth rate achieved in the previous financial year. Particularly strong growth was achieved in Advisory where revenue grew by nearly 30% over the prior fiscal year.
Commenting on the region’s performance, Nader Haffar Chairman of the KPMG MESAC Region commented: “FY22 has been an extraordinary year for the MESAC region, and this is reflected in the results achieved during this period. We continued to invest in building capabilities across key service and solution areas as well as across priority and emerging sectors.
“We strengthened resource mobilisation and delivery capabilities through strategic corridors and delivery networks as well as working arrangements with key global and regional alliances, particularly in the technology space. Above all, we continued to invest in strengthening the quality and trust agenda.”
The Middle East and South Asia region expanded 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 now covers KPMG member firm presence in 20 countries and territories.
In a new milestone, the talent pool in the MESAC region exceeded 10,000 people for the first time. Worldwide, KPMG’s headcount increased by 12.4% in FY22, bolstered by more than 29,000 net new roles created. This growth has led to the addition of specialists and subject-matter experts at all levels, helping to enable high-quality and multi-disciplinary services designed to solve the complex problems of modern organisations around the world. KPMG’s commitment to inclusion, diversity and equity (IDE) remains; women represent nearly half (48.5%) of all KPMG professionals, with gender parity achieved on the Global Management Team.
Globally, Advisory achieved the largest growth increase; up 19% on FY21 across KPMG firms. Growth was driven by the success of Transaction and Deal Advisory services, as well as continued demand for innovative technologies and advanced cyber security solutions. Tax & Legal Services experienced 10% growth while Audit grew 8%, benefiting from a combination of the investments made in technology and KPMG firms’ globally connected local knowledge.