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KPMG International revenue in MESAC region grows over 18%

Business 12:58 03 Jan, 2023
KPMG International revenue in MESAC region grows over 18%

KPMG International has announced strong annual aggregated revenues for its firms globally of $35 billion for the fiscal year ending September 30, 2022 (FY22), an increase of 14%, reports according to foreign media statistics.

The aggregate revenue of KPMG member firms in the Middle East, South Asia, and Caspian (Mesac) grew by 18.3% in local currency terms for FY22, more than doubling the growth rate achieved in the previous financial year. In a new milestone, the talent pool within the Mesac region exceeded 10,000 people for the first time. Particularly strong growth was achieved in Advisory where revenue grew by nearly 30% over the previous year.

Amidst continued economic and geopolitical uncertainty, robust numbers and consistent growth were achieved across all functions. Advisory achieved the largest growth increase, up 19% on FY21 across KPMG firms globally. Growth was driven by the success of Transaction and Deal Advisory services, as well as continued demand for innovative technologies and advanced cyber security solutions. This is also a significant indicator of the appetite within the marketplace in relation to strategic M&As, and the ongoing investment in technology-based solutions by companies within the global marketplace.

Tax & Legal Services experienced a 10% growth while Audit grew by approximately 8%, benefiting from a combination of the investments made in technology and KPMG firms’ globally connected local knowledge.