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KPMG International’s revenue grew by 5.4% during its most recent fiscal year to $38.4 billion, the consulting giant disclosed this month.

KPMG is one of the so-called Big Four professional services networks. It’s not a company in the traditional sense, but rather an agglomeration of regional consulting firms that share the same brand. KPMG’s year-end revenue figure represents the sum total of those firms’ sales during the 12 months ended September 30.

Broken down by business line, KPMG’s advisory practice was its largest revenue drive. The practice brought in $16.3 billion worth of client fees, a 2% improvement from the previous fiscal year. KPMG credited the sales increase in part to demand for digital transformation initiatives. Digital transformation is a term for large-scale IT modernization projects at big companies, which often require the help of consultancies to help them sort out the technical details.

KPMG’s two other core businesses both posted faster growth than the advisory practice. Its tax and legal services practice recorded a 10% revenue jump, while the audit practice delivered a 6% year-over-year sales improvement.

“Commitment to our multi-disciplinary model has also fueled greater synergies, growth and cross-border collaboration across our network,” commented KPMG global chair Bill Thomas.

The past year was a busy one for KPMG. In June, two of the network’s largest member firms announced plans to merge into a single company with combined revenues of $4.4 billion. KPMG also launched a multibillion-dollar program designed to boost its business performance. During 2024, the Big Four firm spent $1.7 billion of the funds allocated to the initiative.

KPMG’s headcount grew by 1% in fiscal 2024 to 275,288. Unsurprisingly, the recruiting drive placed particular emphasis on hiring technology professionals. KPMG launched multiple AI training programs for its employees in 2024 and purchased more than 50,000 subscribes to Copilot, Microsoft’s LLM-powered productivity assistant.

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