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KPMG: 2012 revenues reach USD23 billion

By Rob Starr, Content Manager, Big4.com

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.

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

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