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2016 International Annual Review

2016 International Annual Review

KPMG International has announced aggregated network revenues of US$25.42 billion for the fiscal year ending September 30, 2016 (FY16), representing an 8.0% increase in local currency terms. There was strong growth across Audit, Tax and Advisory services, including exceptional year-over-year growth of 11.5% in Advisory services, as well as growth in all three regions. Investments in innovation, alliances and people drove strong growth across core services. Overall, across the KPMG network, more than 37,000 new graduates and other associates were hired, with the total workforce growing to a record-high of 189,000 people.

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The theme of the 2016 Review is “Anticipate. Innovate. Deliver.,” reflecting how KPMG professionals have worked in the past year to take on the challenges of clients around the world.  The Review is designed in an all-digital format, with video content that will enable you to hear from our Global Chairman, John Veihmeyer, and other global leaders on highlights across the KPMG network.

The Review emphasizes that building trust is at the foundation of everything we do and provides a view of the many ways this is manifested. It begins with a relentless focus on audit quality, and includes being a leading voice in the global dialogue on responsible tax, as well as helping businesses to have more trust in the data & analytics that drives their business decisions and to be better able to guard against cyber threats.

Innovation is a consistent theme in the Review. You can see how KPMG is helping clients to manage in an era of transformational change, addressing strategic issues for growth such as the impact of sector convergence, building customer loyalty, and accelerating business transformation. In addition to providing a number of client case-studies, the Review highlights how KPMG is forming alliances with leading technology companies to accelerate innovation.

Over the past 12 months, KPMG firms recruited more than 37,000 graduates, helping to grow the total global workforce to 189,000.  The Review discusses what makes KPMG a home for extraordinary talent, and how we are meeting the learning needs of a changing workforce. 

Improving our communities is central to KPMG’s values and purpose, and the Review illustrates our commitment to the Sustainable Development Goals, with a focus on our global citizenship priority of lifelong learning. Global climate response is another of our priorities, and the Review discusses how we have reduced our environmental impact across our network and the new goals we have established. 

Some key highlights:

 Growth in business lines

  • Audit: Total Audit revenues were up by 4.5%, to US$10.12 billion, building on last year’s exceptional growth of 6.1%. KPMG firms continued to win a number of important audit appointments across the globe, particularly in Europe, where FY16 marked the first year of European Union audit reforms.      
  • Tax revenues grew 8.8% more than the previous year, to US$5.56 billion, with Tax revenues in Asia Pacific improving by 11.1%. Strong tax performance was driven by high demand for tax compliance services, as well as M&A-related services, in all three regions.
  • Total Advisory revenues for the year were up 11.5%, to US$9.74 billion, an increase over the growth of 9.2% in FY15, with stronger year-over-year growth seen across each of KPMG’s three Advisory service groups. Management Consulting services’ growth (16.3%), was led, in-part, by technology-enabled transformation engagements. Risk Consulting grew 10.2% and Deal Advisory saw growth of 12.1%The Global Strategy Group contributed to the strong growth across Advisory.

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