KPMG’s revenues reached $34.64 billion in the 12 months ended September 30 after climbing 13% on a year-over-year basis.  

London-headquartered KPMG is a member of the Big Four, the world’s four largest accounting firms by revenue. The other members are Deloitte, EY and PwC.

Like its Big Four peers, KPMG isn’t a company in the traditional sense. Rather, it operates as a network of largely independent accounting firms that are each active in a different region.

KPMG is mainly as a provider of auditing, tax and legal services. In the fiscal year ended September 30, however, the firm’s biggest business was its advisory group, which grew its revenue by 19% to $15.44 billion

KPMG’s auditing group generated $11.85 billion in client fees. The tax and legal services division, in turn, earned $7.35 billion.

“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,” KPMG global chair and CEO Bill Thomas remarked in a prepared statement. 

It’s notable that KPMG’s advisory group is not only the largest of its three core businesses but also the fastest growing. The group’s sales increased by 19% in fiscal year 2022, which is about double the growth rate that KPMG’s two other core businesses achieves. 

The advisory group provides services ranging from software implementation to management consultancy. It also offers deal advisory services, which KPMG highlighted as a particularly big contributor to the group’s revenue growth during 2022.

Technology projects were another source of growth. KPMG’s revenue in this area increased by more than 20% year-over-year, the firm has disclosed.

The Big Four member grew its headcount by 12% in fiscal 2022 after onboarding 29,000 new hires. As a result, KPMG had more than 265,000 partners and employees in 143 markets around the world as of September 30. 

“This year’s growth will help us to continue to invest in our people — which remains critical in a competitive marketplace for talent,” Thomas remarked. “Ensuring KPMG professionals are working on diverse projects that are making a positive difference and providing them with a flexible career path in an inclusive and caring environment are priorities for us.”

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