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Wed 23 Dec 2015 03:04 PM

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Global giant KPMG says full-year MidEast revenue up 12.7%

Network of professional firms providing audit, tax and advisory services recruits 650 people in past year in Middle East and South Asia

Global giant KPMG says full-year MidEast revenue up 12.7%
John Veihmeyer, chairman of KPMG International.

KPMG, a global network of professional firms providing audit, tax and advisory services, has reported a 12.7 percent growth in revenue in the Middle East & South Asia (MESA) for the fiscal year ending September 30.

During the year, KPMG across the MESA region recruited 14 new partners, more than 650 experienced professionals and over 1,350 graduates, it said in a statement.

The resource pool at year-end numbers more than 6,600 professionals and associates within member firms in 15 countries covering 32 office locations, it added.

John Veihmeyer, chairman of KPMG International said: “This has been an exciting year for KPMG, as we have continued to innovate and invest at a record pace to meet rapidly changing global business demands.”

In one of his recent visits to the Middle East, Veihmeyer also emphasised the significance of MESA as an important growth region for KPMG.

Commenting on the performance of the region, Abdullah Al Fozan, chairman of KPMG MESA added: “One of our main strategic initiatives is to invest further in building specialised expertise in focus sectors including infrastructure, energy, financial services, and enterprise.

"We are also aggressively investing in service expertise in areas such as digital, cyber security, transformation, strategy and data & analytics among a broader set of regional strategic growth initiatives."

KPMG International reported an aggregated network revenue of $24.44 billion for the fiscal year, representing an 8.1 percent increase in local currency terms.

KPMG member firms had in aggregate hired a record 24,000 new graduates, with the total workforce growing to 174,000.

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