By Rob Starr, Content Manager, Big4.com
KPMG International (KPMG) recently 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.
“2012 was a year of two distinct halves; with growth strongest at 6.4% in the first six months of the year and relatively weaker growth of 2.1% in the six months to September. Growing our business against such a challenging economic backdrop is testament to the quality of our people and the strength of their relationships with clients,” said Michael J. Andrew, Chairman of KPMG International. “On the Audit side, the market has never been more competitive and we are focused on continuing to improve audit quality, as evidenced by our significant investments in our global audit platform that surpassed $50 million, in addition to the $100 million invested over the past several years. KPMG member firms are also actively engaged with their regulators around the world in constructive dialogue, with the goal of continuing to improve audit quality.”