Happy New Year everyone! This is Bill Thomas. I've assumed the role of Chairman of KPMG International beginning October 2017.
KPMG will support your activities for growth and transformation using KPMG’s global network focused on quality, innovation and business expertise; the foundations of our business in this rapidly changing environment.
Looking back at last year, the global economy slowly picked up and growth was expected to accelerate in emerging markets and developing countries. This coming year the global economy is likely to continue to recover, albeit slower than any of us would like. However, there are significant challenges ahead including demographics, higher interest rates in the US and Europe, labor gaps and skill shortages, geopolitical issues (as seen in North Korea) and increasing nationalism and protectionism in many parts of the world. All of these risks threaten global growth and pose risks to business and demand new strategies for growth.
On the other hand, technological advancement (including AI and IoT) are already disrupting virtually every business and that pace of change will almost certainly accelerate and alter the business model for existing and new industries. To navigate this constantly changing context and achieve further growth, the question remains whether businesses can quickly expand, leveraging the latest technologies, while understanding strengths and weaknesses and collaborating with other industries.
Sharing our purpose - “Inspire Confidence, Empower Change” with all members across the world, KPMG will endeavor to provide quality services in audit, tax and advisory and contribute to sustainable growth of companies and society.
I hope this year brings you success and good luck.